Keynote Remarks: Empowering Nigeria’s Entrepreneurs: Building Institutions That Last

Keynote Remarks: Empowering Nigeria’s Entrepreneurs: Building Institutions That Last entregue por Tony O. Elumelu, CFR Group Chair, Heirs Holdings | UBA | Transcorp | Founder, The Tony Elumelu Foundation at the GROW NIGERIA CONFERENCE 2.0 Lagos, Nigéria

Monday, November 17, 2025

 

Opening

 

• Distinguished Ladies and Gentlemen,

 

• Leaders of government, of business, young entrepreneurs gathered here, all who are responsible for tomorrow’s possibilities — good morning.

 

• It is an honour to be here.

 

• Let me be blunt:

 

• The future of Nigeria is not going to be written in some far-off boardroom.

 

• It is being shaped, right now, by you, by us, by every passionate entrepreneur, who refuses to settle for average, who beats the odds and dares to dream big in this great country.

 

 

Nigeria is Entrepreneurial — But We Must Build to Last

 

• Too many of our businesses never get past the struggle.

 

• Too many great ideas fail because the system, the support, the ecosystem—wasn’t there for them.

 

• This must change. Starting businesses is good. But, sustaining them? This is critical. And that’s how we transform this economy.

 

• I started out just like many of you — restless, ambitious, ready to prove myself.

 

• But experience taught me: success isn’t about today. It’s about what remains when you’re gone.

 

• If you are chasing profit and nothing else — your journey will be short.

 

• If you’re driven by purpose and a vision to make lives better — your legacy will endure.

 

Private Sector: The Engine of Nigeria’s Renewal

 

• Here’s the bottom line:

 

• Nigeria will not be built by government handouts or foreign aid. Government’s role is critical, but:

 

• Nigeria will be built by entrepreneurs — by you, building businesses that create jobs, hope, and prosperity from the ground up.

 

• But you cannot do it alone.

 

• You need frameworks — clear governance, succession planning, and relentless focus on value.

 

• This is why at the Tony Elumelu Foundation, yes we give each beneficiary a non-refundable seed capital of USD5,000.00.

 

• But to us, our greatest catalytic impact is the 12-week business education class we organise for young African entrepreneurs.

 

• We do this to enlarge our private sector. Because we believe that the private sector is the engine of Nigeria’s renewal.

 

• That’s Africapitalism that drives us at Heirs Holdings — using business to build Africa, to build Nigeria, to do well and do good at the same time.

 

We Need the Right Environment

 

• We need a Nigeria where:

 

• Policies are predictable (investors love predictability—let’s give it to them).

 

• Infrastructure works.

 

• Financing is truly accessible.

 

• Our best brains aren’t stuck solving the same old problems— or leaving the country

 

• We know this can be done – we have done it!

 

• At the Tony Elumelu Foundation, we put our money where our mouth is.

 

• Over 24,000 young Africans — 9,229 from Nigeria — have received capital, mentorship, training, not just to start up, but to scale up.

 

• They are building businesses, creating jobs, exporting to new markets.

 

• That is the future.

 

Public and Private Sectors: Collaboration is Key

 

• Let me speak directly to Government, the private sector, institutions like SMEDAN — our work must be connected, not siloed.

 

• Let me commend Charles Odii – SMEDAN CEO/Director General for this and what he has been doing since his appointment.

 

• Let me also commend His Excellency, President Bola Ahmed Tinubu, GCFR, for believing in and appointing young Nigerians to steer critical national agencies and for all he does to support youth entrepreneurship in Nigeria.

 

• Let us cut the bureaucracy. Make finance and opportunity real, not theoretical.

 

• Design policies that spark innovation.

 

• Let’s help Nigeria’s entrepreneurs move from surviving – to winning.

 

• Every job we create fights insecurity.

 

• Every thriving business increases our tax base and accelerates prosperity for ALL.

 

Digital is the Game Changer

 

• Let’s talk digital.

 

• Today, a woman in Lekki or Oshodi can run a global operation right from her smartphone.

 

• Technology has levelled the playing field — opportunity is before us – if we build the infrastructure, if digital skills reach EVERY community, if no entrepreneur is left behind.

 

• We need the power that is so vital to the digital economy.

 

• Last month in Washington, at the IMF meetings, my message was straightforward.

 

• We Africans must be included in the AI revolution.

 

• My message in Nigeria is the same – without infrastructure, without power, Africa will be left behind once again. We need to act and now, for Nigeria, for Africa.

 

• We need a Nigeria that is built to last and built to succeed.

 

Call to Action: Build for Generations

 

• We — leaders, policymakers, business owners — must forge partnerships that set our entrepreneurs free to focus on GROWTH.

 

• We must turn pain into progress, hustle into history.

 

• Our entrepreneurs are tough, resilient — but hardship shouldn’t be our default strategy!

 

• Resilience must lead to innovation, not just survival.

 

• So, let me challenge every one of you:

 

• Don’t just start, SCALE.

 

• Don’t just build for profit, BUILD FOR PURPOSE.

 

• Don’t just think of today — think generations.

 

• Nigeria, it’s time to move from start-ups to scale-ups, from individuals to institutions, from small ventures to lasting legacies.

 

• That’s how we create a future where everyone

 

• That’s how we build a Nigeria that works — for ALL.

 

• I repeat, we need a Nigeria that is built to last and built to succeed.

 

• Thank

 

DEDO DO PÉ