Tony Elumelu: A contrarian view

I have decided to go contrarian. I am sure some readers would think that I am about to take a pot shot at Mr. Elumelu but far from it. On the eve of the ascension of a new American President which the world is of the belief would usher in a relieving balm, I have decided to look at Elumelu rather than join the rest of the world in effusive celebration.

Mr Elumelu’s Heirs Holdings have just announced a $1.1b transaction which is seeing them take 30% of OML17 from Shell Petroleum. This deal is significant especially if you consider it the second major transaction in President Buhari’s Second Term and also the fact that we are in a recession, the pandemic is still raging unabated, disrupting economic and social order and much more importantly the bleak mid to long-term prospects of Oil as a major source of energy.

They say this is a lion-hearted move. I believe. Mr. Elumelu has over the years shown a remarkable courage in his dealings. He has missed some marks but mostly have hit the bullseye in most of his endeavours.

Finicky in his public imagery which drives him to a possible over exposure, a point I have taken up in previous writings, but despite this he still manages to retain some level of mystique and huge public respect that positions him not just as the next money bag but also as an influential thought leader in Africa.

Some have criticized his arrowhead Philanthropic initiative which according to him in his several public posturing plans to deliver 100,000 budding Africans from poverty by building them as entrepreneurs thereby ensuring job creation, wealth creation and redistribution. Keen observers have seen this platform is not more than a PR stint as its results would remain too vague to measure. Furthermore, they have said why run around the corners of Africa when poverty is staring you even in your own village. These positions trail every sceptical look at the expansive plan but I see the continuous push even though true impact has been nothing compared to the ecstatic proclamation – Africa is in your Hands- that Mr Elumelu shouts at the end of his ‘in your face’ CNN advert.

That said, nobody can begrudge Mr. Elumelu’s positive aggression. His belief that private sector driven initiative is the panacea to Africa’s woes-a sentiment I share powerfully and much more importantly his strong desire to put his mouth where his money is.

In this regard, I begin to see him in another light. A lightening figure that has emerged within the doldrums of elitist selfishness and wickedness to demand an arising. Mr Elumelu’s actions have impacted society much more robustly and this his latest foray would further deepen his impact especially in the areas that are close to his heart and for this I truly say – Africa is in your hands Bro.