Tony Elumelu urges African leaders to build predictable, business-friendly policies to unlock investment and drive sustainable growth at the Abuja Summit 2025

The Group Chairman of United Bank for Africa (UBA) Plc and Heirs Holdings Limited, Tony Elumelu, CFR, has called on African policymakers to create predictable, pro-enterprise environments that attract long-term investment and unlock the continent’s full potential.

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Delivering the keynote address at the Abuja Business & Investment Summit & Expo 2025, held on Wednesday at the Bola Ahmed Tinubu International Conference Centre, Elumelu emphasised that “predictable regulation attracts long-term investment, while inconsistency drives it away.”

He urged African governments to view private sector success as the foundation of national prosperity, noting that over 70% of Africa’s GDP and 80% of employment are generated by private enterprises.

“No nation has ever achieved sustained prosperity without a vibrant and virile private sector,” Elumelu said. “The private sector is reimagining what is possible on our continent.”

Speaking on the summit’s theme, “Empowering Sustainable Growth: Unlocking Potential in Emerging Markets,” Elumelu advocated for a new social contract between government and business, founded on trust, transparency, and partnership.

He said sustainable progress can only thrive where governments convert investor confidence into nation-building through stable and forward-thinking policies.

The UBA Chairman cited Heirs Holdings’ strategic investments in the Federal Capital Territory (FCT) as examples of how purposeful private capital can drive development, including the revitalisation of the Transcorp Hilton Abuja, the launch of the Transcorp Event Centre, and ongoing reforms in the Abuja Electricity Distribution Company (AEDC).

“How can we expect foreign investors to invest in our economies if we don’t invest in them ourselves?” he challenged.

“Make your money, but please bring it home and invest locally. It is an act of unpatriotism to save your wealth in economies that already have so much.”

Elumelu, who is also the Founder of the Tony Elumelu Foundation, stressed that Africa’s transformation will be driven by long-term investments in critical sectors that create prosperity and opportunities for all.

He commended the Minister of the Federal Capital Territory, Nyesom Wike, and the Minister of State for the FCT, Dr. Mariya Mahmoud, for their infrastructural drive within the capital, describing Abuja as a model for partnership between the public and private sectors.

In her remarks, Dr. Mariya Mahmoud expressed gratitude to Elumelu and other investors for their confidence in Abuja, reaffirming the FCT Administration’s commitment to making the city Nigeria’s premier investment destination.

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The Abuja Business & Investment Summit & Expo 2025 (ABISummit2025), organised by the Abuja Investments Company Limited (AICL) and hosted by Ambassador Dr. Maureen Tamuno, serves as a platform to forge partnerships and translate economic visions into actionable strategies for sustainable growth across Nigeria and Africa.