Tony Elumelu: Private sector backing Tinubu — he can heal Nigeria

Tony Elumelu, chairman of Heirs Holdings, says the Organised Private Sector (OPS) in Nigeria is solidly behind President Bola Tinubu.

Elumelu spoke in Abuja during Iftar with the president and members of the Nigerian business community on Thursday.

This was disclosed in a statement by Ajuri Ngelale, special adviser to the president.

He said Tinubu’s transformation journey to turn around the economy and businesses is appropriate for the country.

“We appreciate what you are doing. We know the journey will not be smooth, but given the will, we will get to the promised land,” Elumelu said.

“We admire your decisiveness, and we appreciate what you are doing. You are extremely passionate about taking Nigeria to the promised land.

“On behalf of the OPS, we want to assure you that we are 100 percent with you. We have engaged with your ministers and associates; we share ideas, and we support them. We know that under your leadership, you have the ability to heal Nigeria permanently.”

Also speaking, Allen Onyema, chief executive officer of Air Peace, charged business owners and manufacturers to work towards bringing down the cost of products and services.

Onyema also thanked the president for improving the ease of doing business in the country.

Stella Okoli, pharmacist and founder of Emzor Pharmaceutical Company, urged the president to look into providing more support for the pharmaceutical industry in the country to make it self-sufficient and self-financing.

’NO BIGGER DRIVER OF ECONOMY THAN PRIVATE SECTOR’

In his remarks, Tinubu expressed gratitude to the business community for their support and pledged to engage with them more frequently.

He said Nigeria’s economy is at a turning point and will require the steadfast support of the private sector for sustained growth and prosperity.

“I would have summoned you before now, not during Ramadan, because you are a very valuable part of my constituency,” the president said.

“There is no driver of the economy that is bigger than the private sector. If the private sector is not flourishing, there is no growth, no prosperity, no employment or development. No matter how flowery the speeches are, not even a mushroom will grow.

“Thank you for persevering. We are at a turning point in our economy. I do not have to do a quadratic equation to illustrate all of that to you. I just want to appreciate you for your endurance and perseverance.”

Sharing insights from his visit to the New York Stock Exchange in 2023, the president said he appealed to the investors to consider Nigeria as a prime investment destination.

He noted Nigeria’s self-belief and determination to drive economic transformation from within, adding that Nigeria is a self-believer and can always deliver on its own.

Tinubu reiterated his commitment to fulfilling his mandate, emphasising that he cannot afford to underperform, given the trust placed in him by the electorates.