Tony Elumelu Foundation news
Tony Elumelu is from Delta State, Nigeria. Image: Guardian NG

Business mogul Tony Elumelu has urged the Japanese Government to use 5% of its $50bn pledge to Africa on empowering entrepreneurs, Concise News reports.

Elumelu, Concise News learned, said this on Thursday 7th Tokyo International Conference on African Development (TICAD) in Yokohama, Japan.

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He lauded the generosity of the Japanese government in increasing its commitment to Africa from $30bn in 2016 in Kenya, to $50bn.

“If we invested just 5% in Africa’s new generation of entrepreneurs, following my Foundation’s robust, proven model of getting capital directly to those best placed to catalyse growth and create real impact, we could touch 500,000 lives, across the 54 African countries, broadening markets, facilitating job creation, improving income per capita, and laying the key foundation for political and economic stability,” Elumelu said.

According to him, the three key pillars of a bold and transformative structure include investment in infrastructure, partnership with the African private sector, and investment in Africa’s youth.

This is as he urged Japan to emulate the Tony Elumelu Foundation, which empowers African entrepreneurs, as the most sustainable means of accelerating the development of Africa.

The Delta-born Elumelu assured that “Africa is one of the world’s viable destinations for investment.

“Our huge population, of nearly 1.3 billion people, creates one of the most attractive markets anywhere in the world.”

Buhari Seeks Supports

In a related development, President Muhammadu Buhari Thursday in Yokohama, Japan, sought the support of the Asian country’s government in combating piracy in the Gulf of Guinea as well as illegal fishing in that region.

Concise News understands that the President made the request during a bilateral meeting between the Nigerian delegation and Japanese officials, ed by Prime Minister Shinzo Abe.

They met on the margins of the Tokyo International Conference on African Development (TICAD7).

According to his Special Adviser on Media and Publicity, Femi Adesina, the Nigerian leader, who commended Abe for the invitation extended to him to attend the triennial Forum, also thanked the Japanese government for attending the pioneer celebration of June 12 as Democracy Day in Nigeria.

In his remarks, Abe welcomed President Buhari’s participation at TICAD7 and the country’s signing of the African Continental Free Trade Agreement.

Commending Buhari administration for taking Nigeria to the Next Level, Abe pledged a $300,000 support for Nigeria’s Defence College as well as 12 million Yen for the country’s public health sector.

He also pledged his country’s support for Nigeria’s Presidency of the 74th Session of the United Nations General Assembly, while seeking Nigeria’s support for Japan’s bid to occupy some global positions.