What Tony Elumelu Discussed With President Bola Tinubu At The Villa

Foremost Nigerian banker and Chairman of the United Bank for Africa (UBA) Group PLC , Mr Tony Elumelu was a guest of President Bola Ahmed Tinubu at the Presidential Villa, Abuja yesterday.

At a time when the nation battles a legion and one socio-economic challenges, many had wondered what the crux of the visit was and what indeed transpired between the two notable figures.

IT has to be noted first that Elumelu wears a number of influential caps aside that of chairing the board of UBA.

He is a member of the a member of the President’s Economic Council and also chairman of Heirs Holdings all of which exercise spheres of economic influence in the country.

The cross of the Small and Medium Enterprises (SME) sector of the economy, tax reforms, the power sector and the strengthening of the Bank of Industry (BOI) were the key points that took Elumelu to see the president.

This much was confirmed when the man himself spoke with State House Correspondents after the closed-door meeting.

First, he said the discussions focused on how to strengthen Small and Medium-scale enterprises (SMEs), describing them as the engine of economic growth.

“Today we talked about small and medium-scale enterprises and how to further support Nigerian medium and small-scale enterprises. (SMEs)

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”Mr. President is very passionate for my discussion about capacitizing the small and medium-scale entrepreneurs in Nigeria, and I’m very happy to hear that, to feel that, to explain that, because they are the engine of economic growth,” Elumelu said.

Aside readiness in supporting the SME sector through capital injection, Elumelu said the president also tracked up on tax reforms, in the sense that yields from the ongoing tax reforms would be used to boost SMEs operations.

The power sector was discussed at the meeting according to Elumelu giving its centrality in driving productivity, business growth and national development

He said the president expressed commitment to ensuring power generation companies, increased power supply.

Tony Elumelu said the president also discussed the Bank of Industry (BOI) and expressed satisfaction with its current leadership and performance.

As it is all the above have one thing or another to do with business sector financing shedding light on the president’s commitment to see needed funds injected in the key sectors of the economy.

He said the alignment between government priorities and private sector support for entrepreneurs was encouraging for Nigerian youths.