March 21, (THEWILL) — President Bola Tinubu has congratulated renowned economist, banker, and philanthropist, Tony Elumelu, on his 63rd birthday, describing him as “an African business icon and a leading advocate of Nigerian and African enterprise.”
In a statement issued on Saturday, the President commended the Chairman of Heirs Holdings for his resilience, excellence, and unwavering belief in Africapitalism.
“Mr. Elumelu exemplifies resilience and the pursuit of excellence that governs his entire enterprise, as well as a steadfast belief in Africapitalism,” Tinubu said.
Born on March 22, 1963, Elumelu has continued to consolidate his influence across Africa’s business landscape, leveraging a vast corporate network and a bold economic philosophy that prioritises inclusive growth and private sector leadership.
Widely regarded as one of Africa’s foremost private sector leaders, Elumelu has built a formidable investment portfolio spanning banking, energy, hospitality, and healthcare through Heirs Holdings.
At the centre of his financial influence is United Bank for Africa (UBA), where he serves as Chairman.
The bank has grown into a pan-African financial institution with operations in over 20 African countries, as well as in global financial hubs including the United Kingdom, France, the United Arab Emirates, and the United States.
He also chairs Transcorp, a diversified conglomerate with major investments in Nigeria’s power and hospitality sectors.
Its portfolio includes the iconic Transcorp Hilton Abuja, alongside significant power generation assets contributing to the nation’s electricity supply.
In the energy sector, Heirs Energies has emerged as one of Nigeria’s leading indigenous oil and gas producers, playing a key role in boosting domestic energy capacity.
Tinubu also lauded Elumelu’s commitment to youth development through the Tony Elumelu Foundation.
“As a strong supporter of youth investment, I particularly commend the Tony Elumelu Foundation’s entrepreneurship programme, which has trained millions of young Africans and empowered thousands with seed capital to transform their ideas into thriving businesses,” the President stated.
The programme, according to the statement, has trained over 2.5 million young Africans across 54 countries and empowered more than 24,000 entrepreneurs with non-refundable seed capital of $5,000 each.
A vocal proponent of Africapitalism, Elumelu has consistently advocated for long-term private sector investment as a driver of economic development and social transformation across Africa.
“As he marks this special occasion, I join his family and friends in wishing him good health, strength, and continued success in all his endeavours,” Tinubu added.
Elumelu’s influence has earned him global recognition, including being named among Time Magazine’s 100 most influential people in 2020, reinforcing his status as a leading voice in shaping Africa’s economic future.
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