Chairman of the Tony Elumelu Foundation and United Bank for Africa (UBA), Tony Elumelu has said Nigeria’s power and insecurity challenges must be fixed for proper development.
Elumelu, who said these were prerequisites for Nigeria’s development further stated that without addressing these challenges, industrialisation, education, and economic progress would remain unattainable in the country.
He made these remarks while delivering the graduation lecture at the Executive Intelligence Management Course (EIMC) 17, organised by the National Institute for Security Studies (NISS) in Abuja on Thursday.
This is even as the Director-General of the Department of State Services (DSS), Adeola Ajayi urged participants to apply their training in fostering collaboration and innovation.
According to Elumelu, “Security is the cornerstone of every socio-economic system, and no country or continent can survive or succeed without a strong security infrastructure.”
Speaking further, Elumelu said, “We stand on the cusp of an era where technology promises to transform the very fabric of our societies. I firmly believe that emerging technologies—be they artificial intelligence, biotechnology, or renewable energy—are not merely tools of convenience but powerful engines of growth capable of driving unparalleled social and economic development across Africa.
“Development is impossible without reliable electricity. I urge our leaders: if there are two priorities, they should be security and improved access to electricity. With these, our continent will thrive.”
The UBA chairman stated that his investment company supplies 15 per cent of Nigeria’s electricity consumption and aims to deliver 2,000 megawatts to the national grid through gas energy.
He said that these efforts contribute to reducing oil theft, which once accounted for 97 per cent per cent of production losses in oil fields acquired in 2021.
In his remarks, NISS Commandant, Joseph Odama, praised Elumelu’s entrepreneurial contributions to Africa.
He explained that the EIMC programme aims at equipping strategic leaders to tackle national and regional challenges, adding that the course has graduated over 900 participants since its inception.
The event was attended by the 92 participants of the EIMC 17 cohort drawn from various sectors, including intelligence, law enforcement, and private organisations, along with representatives from five African countries.