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Tony Elumelu Foundation Hosts European Commission, Leading Development Finance Institutions and Think Tanks in Brussels

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·         Highlights the Relevance and Urgency to Support Entrepreneurial Led Economic Growth in Africa

Tony Elumelu, CON engaging the distinguished audience at the convening on Africa’s economic transformation convened by the Tony Elumelu Foundation in Brussels on April 10, 2019

L-R: Carl Michiels, Director, European Centre for Development Policy Management (ECDPM); Former Prime Minister of Benin, HE Lionel Zinsou; Bruno Wenn, Former CEO/Chairman at DEG-German Investment and Development Companyand Advisory Board Member, Tony Elumelu Foundation; Minister Phillippe De Backer, Minister for Digital Agenda, Telecommunications and Post; and Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation.

Brussels, Belgium, April 11, 2019— At a time when Europe’s relationship with Africa is high on foreign policy and developmental agendas and with the European Union beginning to deliver on its 2017 External Investment Plan, targeted at attracting investment and job creation in Africa, the Tony Elumelu Foundation brought together leading stakeholders in the development finance sector, at a case study session in the EU capital, Belgium. The convening demonstrated that Africa also had solutions to bring to the table and platformed the Foundation’s unique approach to catalysing entrepreneurship in scale across the continent.

Themed “A Convening on Africa’s Economic Transformation: A Case Study of the Tony Elumelu Foundation”, the event presented the results of the first five years of the Foundation’s Entrepreneurship Programme a unique programme, which has trained, mentored and seeded 4,470 African entrepreneurs with 3,050 newly announced to receive seed funding, and drawn over 200,000 applications to its 2019 cycle. Tony Elumelu’s $100m investment in entrepreneurial philanthropy was held up as an example of how vital capital could be targeted efficiently and effectively, at African businesses best able to create significant economic and developmental impact.

Opening the event, Mr. Koen Doens, Deputy Director General, DEVCO, EU, said: “Africa needs to create jobs by the millions to match the needs of its exponentially growing population. It will achieve this only if it unleashes a generation of empowered entrepreneurs. The Tony Elumelu Foundation contributes to this massively. The European Union wants to play its part and contribute to this endeavour.”

During an indepth question and answer session with EU-Africa relations expert, Annie Mutamba, Founder, Mr. Tony O. Elumelu CON, highlighted the growing interest in the Tony Elumelu Foundation and its unique approach, while welcoming a new type of intervention in Africa. “We very much believe in collaboration, mutual respect and a shared commitment to transform Africa. Africa is ready but we need to do this through the right sustainable manner, that enables our people to become self-reliant, and independent, instead of perpetuating dependency. We need to implement practical solutions on ground through entrepreneurship, which empower people economically and addresses issues of extremism, migration, and insecurity.”

Minister Phillippe De Backer, Minister for Digital Agenda, Telecommunications and Post, Belgium, also commented: “There is an increasing desire in Europe to engage Africa, including its grassroots in a structure and targeted approach with the right processes. The Tony Elumelu Foundation offers this platform.”

The Tony Elumelu Foundation, which last month in March announced 3,050 selected entrepreneurs for its 2019 cycle, continues to grow in scale, ambition and impact, and now actively leverages technology to support entrepreneurs through TEF Connect – a digital hub designed to link entrepreneurs across Africa, and which already has 500,000 users.

On the Foundation’s future plans, he stated: “We want to make sure that we impact more, reach more, touch more lives and get more women involved. We want to see more Northern Africa participation. We would like to reach 10,000 a year, with support from partners to empower additional entrepreneurs. We want to eradicate poverty and create wealth in a sustainable way. Ultimately, \we want a larger and broader entrepreneurship ecosystem, that supports young Africans, and we want to deepen our engagement with government to create the enabling environment to support these Africans to succeed – the right investment climate, training, education, access to capital and most importantly creating the right investment culture.”

Other dignitaries at the event included: Carl Michiels, Director, European Centre for Development Policy Management (ECDPM); Bruno Wenn, Former CEO/Chairman at DEG-German Investment and Development Company, and Advisory Board Member, Tony Elumelu Foundation; Mr Viwanou Gnanssougou, Assistant Secretary General, African, Caribbean and Pacific (ACP) at the European Council of the European Union, and Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation.

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Tinubu’s $2.99bn Rail Push Sparks Calls for Nationwide Network Expansion

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By Sotayo Olayinka

The Federal Executive Council (FEC) on Thursday approved a $2.99 billion package of rail infrastructure projects, signalling a renewed commitment by the administration of Bola Ahmed Tinubu to deepen infrastructure development and unlock economic growth.

While this initiative is widely commendable, there is a growing call for the Federal Government to extend similar support to the Nigerian Railway Corporation (NRC). Strengthening the corporation would significantly improve inter-state transportation, ease the pressure on road networks caused by overloaded trucks, and enhance logistics efficiency nationwide.

Nigeria has already recorded progress with the Lagos–Ibadan rail corridor. However, greater impact can be achieved if the government connects Lagos to Abuja, complementing the existing Kaduna–Katsina line. Such integration would go a long way in addressing the country’s persistent transportation challenges. There is also increasing public demand for the expansion of rail services to the northern and eastern regions, which would create a more unified and dependable national transport system.

Many Nigerians still recall the 1960s, when train services operated seamlessly from Lagos to Kaduna and even Sokoto—an era that underscored the immense potential of an efficient rail network.

Expanding the railway system aligns with the administration’s Renewed Hope Agenda and would deliver tangible results in infrastructure development. There is also a widely held view that the current leadership of the NRC, under Managing Director Kayode Opeifa, is making meaningful progress in revitalizing rail services.

Sustained government backing will be critical to consolidating these gains and building a modern, efficient, and nationally connected railway system capable of driving economic growth and easing transportation challenges across Nigeria.

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Hon. Marcus Adedini Joins 2027 Ife Federal Constituency Race, Promises People-Centered Leadership

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……Engr. Adedini Declares for 2027 Reps Race, Picks Nomination Forms

Engr. Marcus Adedini has officially declared his intention to contest the House of Representatives seat for Ife Federal Constituency in the 2027 general elections, following the purchase of his nomination and expression of interest forms.

His declaration marks his formal entry into the race and reflects what he described as a long-standing commitment to public service, grassroots development, and policy-driven leadership across Ife land.

A development advocate and grassroots mobiliser, Adedini brings years of community engagement and policy experience to his ambition. Through his initiative, he has spearheaded several community-based interventions spanning education, healthcare, youth empowerment, and social welfare.

In the education sector, his programmes have supported students with scholarships, learning materials, and infrastructure development. In healthcare, he has facilitated medical outreach initiatives aimed at improving access to services and raising community health awareness.

Adedini has also implemented youth empowerment schemes, equipping young people with vocational skills, startup support, and capacity-building opportunities to promote entrepreneurship and reduce unemployment. His efforts extend to women and vulnerable groups through targeted empowerment programmes designed to improve livelihoods.

Beyond grassroots initiatives, Adedini has gained legislative exposure, contributing to the drafting of bills and motions in key sectors, including education, healthcare, and social development. Supporters say his experience in budgeting and project facilitation positions him to attract federal projects to the constituency.

Calling for support, Adedini urged residents of Ife Federal Constituency to rally behind what he described as a shared vision of inclusive growth and sustainable development.

He pledged to run a people-focused and issue-based campaign, promising effective representation and impactful service if elected.

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FEC Backs $2.99bn Rail Projects, Sets Stage for Power Sector Shake-Up

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… Lagos Green Line, Kano, Kaduna rail schemes to boost connectivity

… Tinubu to chair power sector task force as reforms gather pace

The Federal Executive Council (FEC) on Thursday approved a $2.99 billion package of rail infrastructure projects and the establishment of a Presidential Task Force on Power Sector Reform, in a move signalling a renewed push by the administration of President Bola Ahmed Tinubu to deepen infrastructure development and unlock economic growth.

Briefing State House correspondents after the Council meeting, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the rail projects span key urban corridors and are designed to enhance mobility, reduce congestion, and stimulate regional commerce.

He listed the projects as the Lagos Green Line Rail, the Kano State Metro Rail, and the Kaduna State Rail project, noting that they have already been captured in the extended 2025 budget.

“The Federal Executive Council approved three transformative rail projects – Lagos Green Line, Kano State Metro Rail, and Kaduna State Rail project. These projects are to be sponsored by the Ministry of Finance Incorporated,” Oyedele said.

He explained that the approvals align with the administration’s broader infrastructure strategy, which prioritises rail transport as a cost-effective and sustainable alternative to road networks.

The Lagos Green Line is expected to complement existing mass transit systems in the commercial hub, while the Kano and Kaduna rail schemes are projected to boost passenger and freight movement across northern Nigeria, improving trade and economic activity.

In a related development, the Minister of Information and National Orientation, Mohammed Idris, announced the creation of a Presidential Task Force on Power Sector Reform, alongside key appointments aimed at strengthening governance in the electricity industry.

Idris said the Council approved the appointment of former Minister of Power, Lanre Babalola, as Special Adviser on Power to the President, to enhance coordination and policy oversight.

He disclosed that the President would chair the task force, with Babalola playing a central role in driving its activities.

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“The task force is part of renewed efforts by the administration to reposition the power sector as a critical driver of industrialisation and economic growth,” Idris said.

According to him, the decision followed the submission of a report by a presidential committee set up on March 4 to review the commercial and institutional framework for the proposed Grid Asset Management Company (GAMCO).

He noted that the task force brings together key stakeholders, including the Ministers of Finance, Power, Industry, Trade and Investment, Information, and the Attorney-General of the Federation, alongside regulators and representatives of electricity generation and distribution companies.

Idris said the body would focus on implementing far-reaching reforms to address structural bottlenecks in the sector, stressing that stable electricity supply remains central to Nigeria’s economic transformation.

He added that the government is committed to a comprehensive overhaul of the power sector to unlock industrial productivity and improve living standards.

The minister further disclosed that the FEC meeting was preceded by the swearing-in of a National Commissioner of the Independent National Electoral Commission (INEC) and four Permanent Secretaries.

He said President Tinubu administered the oath of office on retired Rear Admiral K. M. Marafa as INEC National Commissioner following her confirmation by the National Assembly.

Idris added that the Council deliberated on a 32-point agenda, reflecting what he described as the administration’s broad reform focus across critical sectors of the economy.

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