Tony Elumelu Laments Over State Of Nigerian Economy

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Tony Elumelu
Tony Elumelu Foundation funds 5000 African SMEs

The Chairman of United Bank for Africa (UBA) Plc, Tony Elumelu, on Thursday lamented the current economic crisis ravaging the entire nation.

Brand Spur Nigeria reports that Tony Elumelu said it is disheartening that despite being a country rich in abundant mineral resources, over 90 per cent of Nigerians are still living in hardship and poverty.

In a long Twitter thread, the philanthropist berated the leaders of the country for allowing its citizens to suffer poor electricity for days, hikes in the price of diesel, and frightening food inflation.

He stated that businesses in Nigeria were suffering and citizens should hold leaders accountable.

The UBA Chairman said, “This morning, I am listening to my colleagues at the office bemoan the very pressing issues that they face every day in this country, and how things have been getting worse and worse – no electricity for five days, hikes in the price of diesel, frightening food inflation, etc.

“How can a country so rich in natural resources have 90 per cent of its citizens living in hardship and poverty? I have often said that access to electricity is critical for our development, alleviation of poverty and hardship. And speaking of security, our people are afraid.

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“Businesses are suffering. How can we be losing over 95 per cent of oil production to thieves?