The Tony Elumelu Foundation (TEF) today pledged N500 million to create an entrepreneurship programme for indigenes of Delta State.
The founder and Chairman of United Bank for Africa (UBA), Tony O. Elumelu, made the commitment after presenting 50 beneficiaries of the TEF Entrepreneurship Programme to the state Governor Ifeanyi Okowa, in Asaba.
He said: “Your Excellency, on behalf of the Heirs Holdings Group, we will work with your office to put in place a new programme to support Delta State youth and I commit N500m to this purpose.
“Indeed, hearing about your commitment to our youth and the impressive work you have done in the state, I am proud to call you my Governor and it makes me even more proud of my state”, Elumelu enthused.
In his remarks, the governor commended Elumelu for the work of his Foundation, noting that TEF’s recent collaboration with French President Emmanuel Macron demonstrates the level of global recognition and stature that the Foundation has received:
The Governor said: “You didn’t restrict the impact of your Foundation to Delta, or even to Nigeria, you have empowered 4000 across Africa. What you are doing my brother is giving hope to others, who in turn will help to change the narrative of our country and continent and influence the people around them. You are changing the narrative of giving – not just handouts, but giving skills and mentoring. In the next ten years, the impact of the Tony Elumelu Foundation will be truly transformational – the multiplier effect will be huge. The whole country should support and think positively in this same direction.
“I would also like to use this opportunity to encourage our brothers, sons, daughters and fathers that it would be heartwarming if we can make this kind of positive impact we’re seeing with the Tony Elumelu Foundation. It will help us reduce restiveness, and create employment so that as a country we have young people who are not just seekers of employment but creators of employment”, he added.
At the forum, some beneficiaries of the Foundation and the beneficiaries of the different wealth and entrepreneur development programmes of the state government shared their experiences.
An alumnus of the TEF Programme, Zion Oshiobugie, recounted: “I was once someone’s houseboy, thinking of committing suicide when I lost my job. When I started my business, I was always asked for collateral, but Mr. Elumelu only asked for me an idea with transformative potential.
“Today, I run a school providing quality education for those who most need it. I am living proof that with money and training from the Tony Elumelu Foundation, dreams can come true”, Oshiobugie enthused.
The TEF Entrepreneurship Programme is Tony Elumelu’s $100 million commitment to identify, train, mentor and fund 10,000 entrepreneurs from across Africa in 10 years.
Since 2015 when it started, the Foundation has empowered 50 entrepreneurs from Delta, 251 from the Niger Delta region and 1,862 Nigerians in all.
With the latest intervention in Delta, the Foundation’s total investment in Nigerian entrepreneurs has risen to about N4.4 billion.
