Peter Uzoho
The Chairman of United Bank for Africa (UBA) Plc and Founder of Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, has charged Oyo State to be Africa’s beacon and leading entity in agriculture.
Elumelu, who is also the Chairman of Transnational Corporation of Nigeria Plc, also disclosed that the UBA and its sister entities have empowered 158 indigenes of Oyo State in the last seven years through the Tony Elumelu Foundation Entrepreneurship Programme.
He stated this yesterday in Ibadan, Oyo State capital, in his keynote address at the maiden edition of the Oyo State Agribusiness Summit.
He said the summit should go beyond building the agribusiness hub of Nigeria but that of Africa.
The Oyo Agribusiness Summit is a project-managed by Agro4you Limited in conjunction with the Oyo State Agribusiness Development Agency (OYSADA), in line with Governor Seyi Makinde’s vision and road-map towards changing the agricultural landscape of the state to become the agribusiness hub of Sub-Saharan Africa.
“I would like for us to go one step further – the dream should extend beyond building the agribusiness hub of Nigeria, but of Africa. Akin to what Silicon Valley is to North America in Technology, Oyo State should be to Africa the beacon and leading entity in Agriculture, “he said.
He said agriculture was critical for Africa’s development for two main reasons, including being the continent’s largest employer of labour and also employing more women than any other sector.
According to Elumelu, the economic growth the agriculture sector generates is inclusive, broad based, and effective in creating a multiplier effect that helps lift families and communities out of poverty.
He noted that investment in agriculture was therefore a direct investment in poverty eradication and job creation,
He explained that that was the reason they at the Tony Elumelu Foundation, the leading philanthropy empowering young African entrepreneurs from all 54 African countries, prioritise the agriculture sector
He said out of the over 10,000 young Nigerians and Africans that they have empowered through their non-refundable seed capital of $5000, more than a third of the beneficiaries were agri-business ventures.
The Chairman of Transnational Corporation of Nigeria Plc, however disclosed that TEF has empowered 158 indigenes of Oyo State in the last seven years through the Tony Elumelu Foundation Entrepreneurship Programme.
Also speaking at the event, the Group Managing Director of UBA, Mr. Kennedy Uzoka, in a speech delivered on his behalf, congratulated Makinde taking the right path by choosing agribusiness as one of the key economic development areas of his government in achieving their planned development.
Uzoka noted that only a strong and efficient agricultural sector could feed the growing population of a country, provide employment, play vital role in the foreign trade and earning of foreign exchange and give a strong base to the industries.
