Elumelu Applauds Tinubu’s Drive to Empower SMEs, Youth, Boost Power Supply
Business leader and founder of the Tony Elumelu Foundation, Tony Elumelu, has expressed strong approval of President Bola Tinubu’s economic reform agenda, particularly efforts targeted at strengthening small and medium-scale enterprises, empowering young entrepreneurs and revitalising the power sector.
Speaking after a private meeting with the President at the State House, Elumelu described their engagement as encouraging and productive, noting that discussions centred on practical steps to stimulate economic growth.
As a member of the Presidential Economic Council, he said deliberations focused heavily on expanding support for SMEs, which he identified as a key driver of national development.
He welcomed the administration’s renewed attention to tax reforms designed to ease the burden on small businesses and stimulate expansion. Elumelu also acknowledged ongoing interventions by the Bank of Industry, indicating that the President is keen on strengthening the institution’s capacity to provide greater backing for entrepreneurs across the country.
The businessman linked the government’s priorities with the objectives of his foundation’s youth entrepreneurship initiatives, stating that the alignment between public policy and private sector efforts could unlock greater opportunities for Nigeria’s young population.
He expressed optimism that sustained collaboration would yield measurable economic gains.
On the broader economic outlook for 2026, Elumelu pointed to improvements in monetary stability under the leadership of Olayemi Cardoso at the Central Bank of Nigeria.
He noted that increased predictability in monetary policy has improved business confidence, particularly with the stabilisation of the foreign exchange market, which he said had previously dominated concerns among investors and corporate leaders.
Addressing developments in the power sector, Elumelu emphasised the importance of resolving outstanding debts owed to electricity generation companies to enable improved supply nationwide.
He stated that enhanced liquidity in the sector would support increased generation capacity and contribute to broader economic expansion.
Overall, Elumelu conveyed confidence in the administration’s commitment to economic reform, highlighting what he described as a clear determination to expand electricity access, strengthen small businesses and create opportunities for young Nigerians.
