Wednesday, April 21, 2021
  • Login
No Result
View All Result
The News Beam
Advertisement
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
The News Beam
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
No Result
View All Result
The News Beam
Home News

Elumelu Stresses Need to Unlock Youth Potentials for socio-economic Development

April 8, 2021
in News, Business & Economy, Youthprenuers
Reading Time: 3min read
0
A A
0
Elumelu Stresses Need to Unlock Youth Potentials for socio-economic Development
12
VIEWS
Share on FacebookShare on Twitter
  • Tony O. Elumelu, CON, Chairman of United Bank for Africa, Heirs Holdings and Founder of the Tony Elumelu Foundation speaks to 21,000 youth at the Joshua Generation International Youth Conference at the University of Nigeria, Nsukka.

The Chairman of the United Bank of Africa (UBA), Mr. Tony Elumelu, has stressed the need to unlock the potential of youths in Africa, in order to catalyse the socio-economic development of the continent.

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, yesterday.

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.’

READ ALSO; Court Orders FCMB to Freeze Accounts of former GTBank staff, 4 Others

Tags: Tony Elumelu
ShareTweetSend
Previous Post

Court Orders FCMB to Freeze Accounts of former GTBank staff, 4 Others

Next Post

Reekado Banks Reveals Politician He Wouldn’t Vote For In 2023

Related Posts

CBN Orders Banks, Forex Dealers To Accept Old/Lower Denominations of US Dollar Notes
Economy

CBN Orders Banks, Forex Dealers To Accept Old/Lower Denominations of US Dollar Notes

April 21, 2021
3
NDLEA Arrests Undergraduate, Boyfriend for Selling Cookies made with Hard Drugs to School Children
Crime

NDLEA Arrests Undergraduate, Boyfriend for Selling Cookies made with Hard Drugs to School Children

April 20, 2021
6
420: 5 Facts about the Cannabis Day Celebration
News

420: 5 Facts about the Cannabis Day Celebration

April 20, 2021
20
Power Shortage: DPR Calls For Help To Boost Gas Supply
Development Agencies

Power Shortage: DPR Calls For Help To Boost Gas Supply

April 20, 2021
5
REVEALING! 5 Legal Ways to Sell your Body for More Money
News

REVEALING! 5 Legal Ways to Sell your Body for More Money

April 20, 2021
38
ImportDeals.NG Acquires Rival Company, TokunboCars
Industry

ImportDeals.NG Acquires Rival Company, TokunboCars

April 20, 2021
19
Next Post
Reekado Banks Reveals Politician He Wouldn’t Vote For In 2023

Reekado Banks Reveals Politician He Wouldn't Vote For In 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

  • Trending
  • Comments
  • Latest
How to Apply for the N25 Billion Youth Investment Fund  of the Federal Govt

How to Apply for the N25 Billion Youth Investment Fund of the Federal Govt

October 16, 2020
BREAKING! National Executive Council  bows to demands of #EndSARS protesters

BREAKING! National Executive Council bows to demands of #EndSARS protesters

October 15, 2020
How to Apply for the N25 Billion Youth Investment Fund  of the Federal Govt

How to Apply for the N25 Billion Youth Investment Fund of the Federal Govt

5
BREAKING !  How  Hurriedly installed Application  Saved Central Bank of Nigeria website from ‘Anonymous’  hack

BREAKING ! How Hurriedly installed Application Saved Central Bank of Nigeria website from ‘Anonymous’ hack

5
CBN Orders Banks, Forex Dealers To Accept Old/Lower Denominations of US Dollar Notes

CBN Orders Banks, Forex Dealers To Accept Old/Lower Denominations of US Dollar Notes

April 21, 2021
NDLEA Arrests Undergraduate, Boyfriend for Selling Cookies made with Hard Drugs to School Children

NDLEA Arrests Undergraduate, Boyfriend for Selling Cookies made with Hard Drugs to School Children

April 20, 2021

Categories

  • Agriprenuers (7)
  • Books & Arts (6)
  • Business & Economy (259)
  • Capacity Building (9)
  • CDAs (1)
  • Crime (47)
  • DEVELOPMENT (53)
  • Development Agencies (76)
  • Economy (195)
  • Education (72)
  • Entertainment (209)
  • Faith (13)
  • Finance (221)
  • Global (60)
  • Guest Columnists (12)
  • Health (145)
  • Health (4)
  • Industry (91)
  • Lifestyle (79)
  • MGDs (6)
  • News (1,156)
  • Politics (176)
  • Projects (1)
  • Relationships (29)
  • Security (34)
  • SMEs (11)
  • SPECIALS (31)
  • Sports (139)
  • Street Money (3)
  • Tech (64)
  • Teens World (2)
  • The Entrepreneur (16)
  • Uncategorized (34)
  • Your Community (10)
  • Youthprenuers (12)
No Result
View All Result
News
Politics
Business & Economy
Sports
Entertainment
Global

Development

Health
Education
MGDs
Development Agencies

Your Community

CDAs
LGAs
Projects
Community Champions

The Entrepreneur

Street Money
SMEs
Youthprenuers
Agriprenuers
Capacity Building

Specials

Lifestyle
Relationships
Books & Arts
Faith
Teens World
Guest Columnists

Follow Us

  • About Us
  • Contact Us
  • Terms of Usage
  • Privacy Policy
  • Advert Rates
  • Newsletters
  • Resources
  • Submit a Story
No Result
View All Result
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
  • Login

© 2020 The News Beam is the highest circulated and most read newspaper in Nigeria. The online portal of The News Beam is the most visited website in the world.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Subscribe With The News Beam