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Youth Restiveness Ticking Time Bomb for Africa, Others- Elumelu

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Tony O. Elumelu, chairman of United Bank for Africa, Heirs Holdings and founder of the Tony Elumelu Foundation stressed the need to unlock the potential of youths in Africa, in order to catalyse the socio-economic development of the continent.

Youth Restiveness Ticking Time Bomb for Africa, Others- Elumelu

Tony Elumelu

According to Elumelu, youth restiveness remains a ticking time-bomb in the continent, noting that countries in the region continue to face issues around extremism, banditry, robbery, senseless killing, kidnapping and political thuggery, among others.

The founder of the Tony Elumelu Foundation said this in an address he delivered to 21,000 youth at the Joshua Generation International Youth Conference organised by the Anglican Church at the University of Nigeria, Nsukka, Enugu State.

He pointed out that Africa is the world’s youngest continent, saying that almost 60 per cent of the country’s population is under the age of 25.

In Africa, youths of 35 years and under are estimated to constitute 70 per cent of the population of the country, he said.

“However, the jobless rate in Nigeria has now risen to about 30 per cent in March 2021. Some states have as high as 56 per cent of all their youth population as unemployed. In Africa, the situation is not much different: We have 65 per cent of all Africans below the age of 35 and many of these people are not gainfully employed.

“The Covid-19 pandemic and resulting lockdowns have exposed the vulnerabilities in our population structure. We now have, as a continent, the largest young generation in history – this youthful population is Africa’s hope, it is our pride and it is our potential. The urgency and need to unlock the potential of this generation is imperative for the security of our collective future.”

To the chairman of Heirs Holdings, to address this challenge, there is need for a high sense of urgency, a dissatisfaction to what is happening presently as well as a commitment to improving things.

“We must accept that we face a crucial period in our history where youth issues must be the main and central issue of our time. Millions of our young people are entering the job market every year; and 20 million jobs are needed to be created annually to absorb new entrants in the labour market. Only about three million formal jobs are being created annually across Africa and this was even before the outbreak of Covid-19 pandemic outbreak,” he added.

While speaking on the power of entrepreneurship, Elumelu said: “For me and my colleagues at UBA, at TEF and the across the HH Group, we have come to believe that entrepreneurship-the power of entrepreneurship- is key to harnessing the potential of these young Africans

“By so doing, we secure our own future. This comes from our own experience, first as entrepreneurs ourselves. And secondly as people that have committed a lot of resources at TEF (capital, time, personnel) tin helping create a new generation of African entrepreneurs. We are helping to give economic hope and opportunities to young Africans. And we speak as people that do this in Africa but in all 54 African countries, the TEF intervention cuts across all sectors and gender across the 54 African countries because we believe that prosperity should be shared as much as possible across board and that poverty anywhere is a threat to us all everywhere.’’

“The enormous potential of our youth, we must prioritise our support for small-scale businesses. Corporate organisations do well in employing people but there is a limit on how much corporates can do in employing the huge numbers of our unemployed youths. Therefore, capacitising and supporting small businesses, empowering our young ones and their businesses, in our own view is the most powerful means to reduce unemployment on the continent,” he said.

Elumelu in his remarks commended the Nigerian Government with regards its approach to taxes for micro, small and medium sized enterprises stating, ‘I must commend the Federal Government for the good work in the area of tax waivers for Micro-businesses. Tax friendly policies that encourage our entrepreneurs are necessary and much more is required, but good work has been done and the government should be commended.’


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TEDxPAU 2024: Exploring New Possibilities and Shaping Tomorrow

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TEDxPAU 2024 brought together some of the brightest minds and boldest voices on November 16th at the Honeywell Auditorium, Lagos Business School. With over 500 attendees eager to explore new possibilities, the event’s theme, ‘Shaping the Future,’ set the tone for a day filled with inspiration, reflection, and transformative ideas.

The day opened with a TED talk by TED founder Chris Anderson, followed by welcome remarks from the Vice-Chancellor of Pan-Atlantic University, Prof. Enase Okonedo. She encouraged the audience to embrace the theme, saying, “The future is now, and it is up to all of us to join hands to shape tomorrow.”

The sessions featured inspiring talks from visionaries like Akose Enebeli, who emphasized sustainable urban living by “building upwards instead of outwards,” and Goodnews Igwe, who stressed that creating value is key to success.

Temitope Runsewe championed Africa’s family values as a foundation for economic recovery, describing family businesses as “the future of Nigeria.” Prof. Fabian Ajogwu, SAN, advocated for affordable education to drive literacy and digital skills, while Michael Oluwagbemi sparked intrigue with his bold statement that “CNG is the new garri,” promoting energy innovation.

Ziad Maalouf shared leadership insights, underscoring personal growth as the key to scaling success.

Adesuwa Ifedi, Senior Vice President at Heifer International, spoke about the significance of scaling innovation from the inside out, urging organizations to embrace change-driven solutions. Dr. Peter Bamkole, Deputy Vice Chancellor of PAU, described entrepreneurship as “a catalyst for systemic change,” calling for the transformation of problems into solutions with far-reaching impact.

Dr. Cosmas Maduka, who shared his journey from adversity to global success, inspired the audience to embrace their gifts and believe in limitless possibilities.

The event ended with a fireside chat between TEDxPAU organizer Bella Victor and Dr. Maduka, who spoke about the importance of legacy and purpose. He encouraged attendees to see themselves as part of Nigeria’s solution and to embrace both the challenges and triumphs of the country’s journey.

Beyond the talks, TEDxPAU 2024 captivated attendees with musical performances, a spoken word piece, and a high-energy dance performance by different talents from the university.

The event also recognized its sponsors and volunteers, thanking them for their critical role in making the day a success.

In his closing remarks, Bella Victor expressed heartfelt gratitude, stating: “TEDxPAU was founded with the goal of giving back to this incredible school and creating a 360-degree impact—supporting our students, raising awareness for our school, and giving innovators a platform to reach a global audience. It’s inspiring to see how this event has grown and how each of you have played a part in that mission today. I thank our speakers, sponsors, volunteers, and every attendee who believed in this vision. Together, we are shaping the future.”

Attendees also enjoyed networking opportunities during breaks, sponsor exhibitions, and a private lunch for VIP ticket holders, who engaged in deeper conversations with the speakers about shaping tomorrow.

TEDxPAU 2024 once again reaffirmed its commitment to “ideas worth spreading” and left attendees inspired to take action. For recordings of the event and updates on future editions, stay tuned.


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Head of Civil Service Celebrates 100 Days in Office with the Launch of Galaxy Backbone’s “Govmail”

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In a landmark moment for Nigeria’s public service, the Head of Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, OON, MINI, today marked her 100 days in office and officially launched three digital services platforms for the Civil Service.

These include, Govmail, ServiceWise GPT and the Federal Civil Service Online Portal. These platforms, underscore President Bola Ahmed Tinubu’s administration’s commitment to enhancing digital governance and driving innovation across the nation’s Federal Civil Service.

Govmail, an email platform developed and powered by Galaxy Backbone (GBB) is an innovative solution set to enhance communication, boost efficiency, and accelerate Nigeria’s digital transformation journey within the public sector.

Speaking at a meeting where the Govmail Interface was first officially presented and demonstrated to her, the Head of Civil Service expressed her excitement about the platform, stating, “GBB’s Govmail is unbelievably WOW!

This is a game-changer for our nation’s civil service, streamlining communication and creating a secure path to other government digital services. With Govmail, we are truly embracing the future of digital governance.”

Govmail is a secure, Nigeria-centric email platform designed by a team from Galaxy Backbone, exclusively for public service professionals. It ensures that all official communication are seamlessly managed while safeguarding Nigeria’s data sovereignty. The initiative emerged as a key outcome of the Digitalisation War Room, established by Mrs. Walson- Jack, to drive the implementation of cutting-edge digital solutions in government.

Commenting on this milestone, Professor Ibrahim A. Adeyanju, Managing Director/CEO of Galaxy Backbone, shared, “We are immensely proud to have developed this revolutionary platform, ensuring that every Nigerian civil servant has access to a robust and secure communication channel.

Govmail is not just about email—it’s about enabling productivity, efficiency, and sovereignty in governance. Galaxy Backbone remains committed to driving the digital transformation of Nigeria’s public sector.”

The Permanent Secretary, Federal Ministry of Communications, Innovation & Digital Economy, Engr. Faruk Yusuf Yabo emphasized the strategic importance of the Govmail for the nation’s Civil Service stating that “Govmail significantly reduces the government’s reliance on foreign email platforms, cutting costs and addressing licensing challenges. This is a commendable achievement by the Head of Service and the leadership of Galaxy Backbone.”

Through GBB’s dedicated efforts, Govmail will rapidly roll out email accounts to over 70,000 Federal civil servants across Nigeria, ensuring every government professional is equipped with a secure communication platform in record time. This initiative aligns with Nigeria’s goal of leveraging technology to build a digitally driven and globally competitive public service.


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Senate Approves New $2.2Bn External Borrowing for Nigeria

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The Senate has approved the new external borrowing plan request of $2.2 billion presented for consideration by President Bola Tinubu.

Senate Approves New $2.2Bn External Borrowing for Nigeria

The approval followed the adoption of the report of the Senate Committee on Local and Foreign Debts at the plenary session on Thursday.

The report was presented by the Sen. Aliyu Wammako, chairman of the Committee.

President Bola Tinubu had on Tuesday, Nov 19, in separate letters to both chambers of the National Assembly, requested approval of a $2.2 billion external borrowing plan to part fund the N9.7 trillion deficit in the 2024 budget .

Senate upon receipt of the request, mandated its committee on local and foreign debts to expeditiously ensure further legislative inputs on the request and report back within 24 hours.

Presenting the committee‘s report, Wammako said the presidential request was very necessary for approval.

He said the loan request would be utilised for execution of ongoing projects and programmes in the 2024 appropriation act , saying that the projects were critical for national growth and development.

“It will contribute to the implementation of the debt management strategy, which seeks to reduce the cost of borrowing.

” It will lengthen maturity of the public debt stock, free – up space in the domestic market for other borrowers, and help increase Nigeria’s external reserves .” Wammako said Nigeria could raise all or part of the 2.2billion dollars through the issuance of Eurobonds in the International Capital Market ( ICM) .

Wammako thereafter is recommended as follows:

“That the Senate do approve the implementation of the new external borrowing of 2.2 billion dollars at the budget exchange rate of one dollars to N800 in the 2024 appropriation act and that the amount should be raised from one or more sources.

“Namely, issuance of eurobonds in the ICM, issuance of debut sovereign Sukuk in the ICM, and bridge, syndicated loans, subject to market conditions.”

The report was thereafter unanimously approved via an affirmative voice vote.

In his remarks after the approval, Senator Jibrin Barau, deputy president of the Senate, who presided plenary, commended the Wammako led committee for a job well done.


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