The Chairman, Heirs Holdings, Mr. Tony Elumelu, on Monday declared that entrepreneurs in Nigeria need the right environment where policies are predictable, infrastructure works and financing is truly accessible.
Giving his keynote address titled: “Empowering Nigeria’s Entrepreneurs: Building Institutions that Last” at the Grow Nigeria Conference 2.0 organised by the SMEDAN in Lagos, Elumelu stated the future of Nigeria is not going to be written in some far-off boardroom but by every passionate entrepreneur, who refuses to settle for average, who beats the odds and dares to dream big.
He noted that too many businesses in Nigeria never get past the struggle as many great ideas fail because the system, the support, the ecosystem were not there, stressing that this has to change.
According to him, starting businesses is good but, to sustain it is critical and that’s how to transform Nigeria’s economy.
“I started out just like many of you – restless, ambitious, ready to prove myself. But experience taught me: success isn’t about today. It’s about what remains when you’re gone. If you are chasing profit and nothing else – your journey will be short. If you’re driven by purpose and a vision to make lives better – your legacy will endure,” he said.
He noted that Nigeria will not be built by government handouts or foreign aid, stating the government’s role is critical, and the country will be built by entrepreneurs.
These entrepreneurs, according to him, are poised to create jobs, hope, and prosperity from the ground up.
He noted that these startups cannot be done alone, listing frameworks that include clear governance, succession planning, and relentless focus on value as part of what is required to become a successful entrepreneur in Nigeria.
On key collaboration between public and private sectors, Elumelu who is also the Chairman of United Bank for Africa Plc (UBA), stated that private sector institutions like SMEDAN and government operations must be connected, not siloed.
He said, “Let us cut the bureaucracy. Make finance and opportunity real, not theoretical. Design policies that spark innovation.
“Let’s help Nigeria’s entrepreneurs move from surviving – to winning. Every job we create fights insecurity. Every thriving business increases our tax base and accelerates prosperity for all.”
He noted that technology has levelled the playing field as it presents opportunity before us, stating that entrepreneurs need the power that is so vital to the digital economy.
His words: “Last month in Washington, at the IMF meetings, my message was straightforward. We Africans must be included in the AI revolution.
“My message in Nigeria is the same – without infrastructure, without power, Africa will be left behind once again. We need to act and now, for Nigeria, for Africa. We need a Nigeria that is built to last and built to succeed.”
On call to action, he called on leaders, policymakers, business owners to forge partnerships that set entrepreneurs free to focus on growth.
He said: “We must turn pain into progress, hustle into history. Our entrepreneurs are tough, resilient – but hardship shouldn’t be our default strategy! Resilience must lead to innovation, not just survival.
Nigeria, it’s time to move from start-ups to scale-ups, from individuals to institutions, from small ventures to lasting legacies. That’s how we create a future where everyone wins.”
Kayode Tokede
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