Tony Elumelu, Group Chairman of Heirs Holdings, UBA, and Transcorp, and Founder of the Tony Elumelu Foundation, has called for urgent and strategic investment in infrastructure, energy, and youth empowerment to unlock Africa’s full potential.

Delivering the keynote address at the African Caucus Meeting of the World Bank and IMF in Bangui, Central African Republic, Elumelu emphasised that Africa’s development must be driven by Africans, anchored on partnerships built on mutual respect, and powered by the continent’s greatest assets — its people, resources, and entrepreneurial spirit.

Theme:

‘Resilient Infrastructure, Human Capital, and Green Assets’

Keynote Address delivered by

Tony O. Elumelu, CFR

Group Chair, Heirs Holdings | UBA | Transcorp | Founder, The Tony Elumelu Foundation

At the African Caucus Meeting In Bangui Central African Republic

July 31, 2025

Introduction

 Your Excellencies, Ministers, Central Bank Governors, esteemed representatives of the IMF & World Bank, Distinguished Guests, Ladies and Gentlemen

 It is truly an honour to be here with you today. This gathering could not be timelier, as we work together to amplify Africa’s voice and shape a development path that reflects our unique needs and aspirations.

 We live in a highly volatile, complex world. It is a world where the rules-based order has been challenged, where we need to reaffirm our commitment to the idea of a global community.

 But as an African, I must be frank. This global community has not always served Africa interests, ensured that Africa’s voice is heard or delivered for Africa.

 And Africa’s voice not only needs to be heard, but has to be heard.

 Africa has solutions to so many of the world’s problems. Our young people are the answer to the world’s demographic crisis, our minerals power the extraordinary technological changes we are experiencing, our fields can feed the world.

 But these African solutions, this African opportunity, must be on African terms, benefit African people, catalyse true value creation on the African continent. And it must be based on true partnerships, partnerships of equality and mutual respect.

 We must also be realistic. African governments must do better. If we are to deliver that opportunity to our next generation – and if we are to be truly heard in the community of nations, Africa needs to step up.

 This year’s theme – ‘Resilient Infrastructure, Human Capital, and Green Assets’ – reflects what must be our shared priorities if Africa is to thrive.

 It captures the essence of what we must prioritise if Africa is to truly rise.

Africa’s Infrastructure Gap

 Let me begin with infrastructure. Across our continent, we face a deep and persistent infrastructure gap. From roads to ports, power to internet connectivity – we lag behind. We cannot achieve prosperity without the foundations of modern development. Without addressing these gaps, we cannot unlock the growth and prosperity our people deserve.

 To bridge this divide, we must do three things:

 Strengthen our fiscal capacity.

 Drive efficiency and

 Unlock innovative financing – especially by inviting and enabling private sector to co-lead infrastructure development.

Powering Africa’s Future

 Energy access remains the biggest enabler — or barrier — to our progress.

 Up to 70% of our people lack electricity. My home country, Nigeria, generates less than 7,000 MW for over 200 million people.

 If we are to industrialize, create jobs, and participate meaningfully in the global AI revolution, we must invest aggressively in energy — from renewables to cleaner gas-based solutions.

 Imagine what Nigeria’s economy could become with 100,000 megawatts of reliable, affordable energy. That is the scale of transformation we need. And the story is not different across Africa.

The Role of the Private Sector

 Through our investments in Transcorp and Heirs Energies, we are working to solve this challenge – generating power, exporting it through the West African Power Pool, and using gas from our oil operations to power our plants. This is Africapitalism in action: private capital solving public challenges.

 Africapitalism is the belief that the African private sector must take the lead in driving economic development. It is about long-term investments in key sectors that create both economic returns and social impact.

 But success requires collaboration.

 To succeed, we need strong partnerships. Governments must create the right environment. Private sector must bring capital and innovation. And our development partners must support Africa’s realities – including recognising gas as a viable transition fuel on our path to clean energy.

Youth: Africa’s Greatest Resource

 No resource is more valuable than our people – especially our youth. Africa is the youngest continent on earth, with over 60% of our population under 35. This presents both our greatest asset or our greatest risk.

 If empowered, our youth can transform Africa. If neglected, they can become a source of instability.

 At the Tony Elumelu Foundation:

 We have empowered over 24,000 young entrepreneurs across all 54 African countries.

 Each with a non-refundable seed capital of USD5,000.00.

 Trained 1.5m youth.

 Catalysed 1.2m jobs.

 These entrepreneurs are creating jobs, building businesses, and changing lives.

Call to Action

 Let me leave you with three massages:

 Africa’s development is our responsibility. No one else will do it for us. Africa’s future is in our hands. No one will build this continent for us. We must lead.

 Power is everything. No industrial revolution can happen without electricity. We must prioritise energy. Without power, there can be no progress.

 We must invest in our youth. They are not just our future – they are our present.

 Together, by working across public and private sectors, and in partnership with institutions like the IMF and World Bank, we can build an Africa that is resilient, inclusive, and full of opportunity.

 I commend the growing focus of global institutions on Africa. I sit on the IMF Advisory Council on Entrepreneurship and Growth, and I’m pleased with our emphasis on job creation as a path to lasting growth. I also applaud Ajay Banga’s ‘Mission 300’ initiative at the World Bank – an ambitious goal to connect 300 million Africans to power.

 Africa is ready. Let’s seize this moment – and build the prosperous, empowered continent our people deserve.

 Thank you.

TOE

Considering the influence of Western civilisation on Islamic culture and practices, Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa has advocated for more support and protection for Muslim women because of their critical roles in shaping society.

Speaking at the 16th Hijrah Lecture of the House of Assembly held Wednesday at the Assembly Pavillion with theme: “The Muslim Women and Societal Reformation: Balancing Between Islamic Culture and Western Civilization,” Obasa said that in balancing the complexities of the rich Islamic culture, traditions, and practices with the influences of Western civilization, “It is essential to recognise that both can co-exist harmoniously without losing our Islamic identity and values. It is the compromise of these values that has led to disruptions in many homes where children are growing up with perverted values.” He added that “Without good mothers, humanity is doomed.”

Conversely, Speaker Obasa declared that women in Islam are highly revered for their invaluable and influential roles in society, which go beyond mere child-bearing and raising, nurturing, and moulding children to live worthy and successful lives.

“Figures like Ilhan Omar, a U.S. Congresswoman, and Malala Yousafzai, a global advocate for education, exemplify how Muslim women blend their Islamic identity with contributions to global society. They challenge the notion that faith and modernity are mutually exclusive while demonstrating that one can uphold Islamic values while championing universal human rights,” he said.

Drawing a parallel between socio-economic pressures and cultural disconnection that have pushed some women to engage in social vices like prostitution, drug-peddling, and abuse, Obasa said that women are not solely responsible for the current moral challenges being experienced but they have a profound and irreplaceable role in reversing them.

According to the Speaker, “The history of Islam has a noble place for women where they played remarkable roles in the success of the Islamic state,” he said, adding, “The Prophet Muhammad (SAW) in one of his hadiths said that paradise lies beneath the feet of the mother.”

He further quoted the Prophet Muhammad (SAW) as saying, “If the society is good, we should look at the women, it is good because the women are good. But if society is bad, then we should also look at the women.”

In safeguarding and strengthening women’s and children’s rights, the Speaker referenced several laws enacted by the House of Assembly against domestic and sexual violence including the establishment of sexual violence response desks in all local government areas, the domestication of the Child Rights Act, and the Protection Against Domestic Violence Law (PADVL) 2007, which made Lagos the first state in Nigeria to pass a domestic violence–specific law that provides for protection orders (restraining orders) for victims of domestic violence.

“These laws aren’t mere paperwork — they are shields for our wives, daughters, and children,” Obasa stated, adding, “We must enforce them and ensure that women are empowered to carry out their roles in family and society.”

Like Speaker Obasa, the guest lecturer, Prof. (Mrs.) Jameelah Yaqub, a Professor of Economics at the Lagos State University, decried the increasing cases of prostitution and drug addiction among young women, saying that society is paying a premium for the pervasive decadence. She also spoke extensively on the role of women in nation-building through proper parenting and moral upbringing because “When you train a woman, you train a nation.”

Also, she went on, “Women are reformation agents, and they should start from home. In the past, muslim women were responsible and concerned about taking care of their families. With civilisation, however, things changed, and taking care of the family is no longer pivotal.” Prof. Yaqub implored muslim women to see the home as their primary responsibility, know what is happening to their children, and take time off to take care of the family.

The second lecturer, Prof Abdulrahman Alaro, mni, urged muslim women not to get carried away or prioritise earthly gains for their eternal reward but to focus on legacy and values.

In his welcome address, the chairman of the occasion, Hon Nureni Akinsanya, noted, “In this era of globalization, Muslim women face numerous challenges as they navigate the complexities of modern society.

“They are, however, expected to uphold the values of their faith while contributing to the development of their various communities. This lecture aims to explore the role of Muslim women in societal reformation, highlighting the importance of balancing Islamic culture with the influences of Western civilization.

“Our goal is to empower Muslim women to become agents of positive change in their communities, leveraging their unique strengths and abilities to promote a more just and compassionate society,” he stated.

The event was graced by the First Lady of Lagos State, Dr (Mrs) Ibijoke Sanwo-Olu; Dr. Tajudeen Afolabi, the Governor’s Special Adviser on Civic Engagement, who represented Governor Babajide Sanwo-Olu; some members of the Governing Advisory Council (GAC); members of the State Assembly; Lagos State White Cap Chiefs, representing Ọba of Lagos, HRM Oba Rilwan Akiolu as well as leading Islamic and traditional leaders.

2Baba, the renowned Nigerian singer, has married his partner Natasha Osawaru in a traditional ceremony.

The intimate event took place on July 25 in Abuja with only close family in attendance.

Though full details remain limited, images from the ceremony show the couple adorned in stylish traditional outfits.

2Baba wore a white short-sleeved traditional shirt with detailed grey embroidery, paired with a clean white wrapper tied at the waist.

He accessorised with several coral bead strands around his neck and wrists, a coral-beaded staff for a royal touch, and finished the look with sunglasses and white shoes that fused traditional and modern elements.

Natasha appeared in a red off-shoulder dress, complemented by an ornate coral bead okuku headpiece representing Edo royalty, carefully arranged on her head.

She also wore layers of coral beads from her neck down to her shoulders, arms, and wrists, creating a vibrant and culturally rich display.

Fans have taken to social media to send their congratulations, celebrating this personal milestone in the singer’s life.

Their relationship came into the public eye after 2Baba announced his separation from his estranged wife Annie Macaulay Idibia in January.

He stated then that his relationship with the Edo lawmaker had no connection to the breakup.

The ‘African Queen’ star proposed to Osawaru in February.

Family endorsement came in April when Natasha visited Rose, 2Baba’s mother, who had earlier urged her to “remove the beads” from the singer, saying he wasn’t in his “right senses”.

See photos below;