Tony Elumelu Urges Prioritisation Of Power Supply To Help African Youths Realise Their Potentials
The chairman of the United Bank for Africa (UBA) and the Tony Elumelu Foundation, Tony Elumelu, has said that until African governments fix the issue of electricity, the young generation’s potential to accomplish great feats will continue to be limited.
He disclosed this at the UK-Africa business summit in London.
Elumelu stressed that stable power is a pointer that a society is experiencing progressive development.
“Access to electricity is very critical if we are serious about developing our continent.
He also said that governments and relevant stakeholders should take responsibility “by making sure we have roads, mass transportation system, and most importantly that we are able to fix electricity on the continent.
“It is very important that this sector and segment is giving all the attention.
“If we do all of this, we will unleash the enormous potential that resides in Africa and in these young people,” he said.
He also stressed that the businesses and ideas of this generation of young Africans should be financially empowered, adding that it would culminate in Africa’s greatness.
“Africa needs massive private capital to enable us drive the sectors that will help us develop the continent, especially sectors like power.
The summit was called for by UK’s Prime minister, Boris Johnson; and it was geared towards brainstorming on possible ways to explore the opportunities across Africa for the benefit of the continent and investors.
In his opening remark, the UK prime minister said that Africa has massive economic potentials.
“Africa is the future and the UK have an active role to play in that future.
“More than half of the world’s fifteen fastest growing economies are in Africa and 2/3 of African economies are expanding faster than the global average,” he said.