Founder and chairman of Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, has reached out to development partners, including the European Union (EU) and private sector stakeholders, to tackle the issue of youth migration in Nigeria.
Elumelu emphasised that addressing current socio-economic challenges in the 21st century involves empowering individuals economically, rather than providing handouts. He stressed the importance of empowering the youth to enable them to prosper and contribute to Africa’s development.
During a dinner held for the visiting EU Commissioner for International Partnerships, Ms. Jutta Urpilainen in Abuja, Elumelu emphasised the need for collaboration and resource pooling to prioritise the empowerment of young Africans.
Elumelu expressed concern about the trend of Nigerians seeking opportunities abroad due to a lack of suitable conditions and empowerment in Nigeria. He argued that creating an enabling environment and empowering young people within the country could encourage them to stay.
He asserted that economic empowerment is the long-term solution to the country’s insecurity challenges. He highlighted the impact of the Tony Elumelu Foundation, which has provided non-refundable seed capital of $5,000 to over 18,000 young African entrepreneurs, trained 1.5 million young Africans, and appointed new mentors for them. These efforts have resulted in the creation of thousands of jobs, with over 400,000 jobs generated since the foundation’s inception.
Elumelu stressed the importance of democratising opportunity and giving young people the chance to succeed in life.
In response, Ms. Urpilainen shared her objective to transform the EU’s partnership with Africa into a more mutually beneficial cooperation. She outlined the EU’s Global Gateway Investment Strategy, designed to accelerate green and digital transitions in Africa, with a substantial investment of 150 billion euros targeted for the continent by 2027.
She expressed the EU’s commitment to further collaborate with the TEF, recognizing its commendable efforts to empower young entrepreneurs in Nigeria and across Africa. Ms. Urpilainen emphasised the shift away from a donor-recipient relationship to create mutually beneficial partnerships.
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