• He is a Nigerian economist and philanthropist. He chairs Heirs Holdings, Transcorp, United Bank for Africa (UBA) and is the founder of The Tony Elumelu
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Charles Ajunwa writes that Tony Elumelu who recently attained 58 years, is impacting the world positively through his philanthropic activities
If you partake in entrepreneurial conversations in Nigeria or on the continent, at some point, the name Tony O. Elumelu will come up. Of course, other names will pop up as well, but you will find that none is treated with as much admiration and respect as the name Tony Elumelu is.
Perhaps, it stems from the collective remembering of his famous dogged entrepreneurial decision of turning a massively failing Nigerian bank around within a relatively short time, a move that took the country and market analysts by surprise. Or perhaps it is the fact whenever you look around you, you’re bound to encounter people and businesses that have been grazed by the lush generosity of Elumelu’s philanthropic activities. And these by no means adequately describe the extent of his influence. As he recently turned 58, taking a look at his life, works, and ac
I often write very positive and glowing things about the Igbo people of Nigeria’s Southeast, because Igbos are a people I admire a lot. You may disagree with me, but I believe that they are the most intelligent and enterprising Black African ethnic nationality on planet Earth, bar none.
Elsewhere, I have written about their apprenticeship system, which is the world’s most successful, having produced more millionaires per capita than Harvard, Yale or Oxford universities.
According to American economic journalist Robert Neuwirth, the Igbos in Alaba Market generate $4 billion annually (₦ 2 trillion).
Think about that for a minute. 10,000 Igbos generate more internal revenue than the 19 Northern Nigerian states combined. To put this in perspective, note that Kaduna generated ₦44 billion IGR last year and was celebrated by the Northern Governors Forum.