19 July 2017
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United Bank for Africa (Lagos)

Labour and Employment Minister Applauds Tony Elumelu's Commitment to Job Creation and Poverty Alleviation

At the 30th Anniversary celebration of the award-winning Transcorp Hilton Abuja, the Honourable Minister of Labour and Employment, Chris Ngige, commended the relentless efforts of the chairman, Transnational Corporation of Nigeria Plc, Tony O. Elumelu CON, towards job creation as a strategy for poverty alleviation in Nigeria and Africa. 



“ I am here because Tony Elumelu creates jobs. I take interest in those who create jobs and Tony is one of them,” the minister stated. The minister went on to share that the Labour statistics on Transnational Corporation of Nigeria show that 1500 to 2000 people are employed at the Transcorp Hilton alone.

Elumelu’s commitment to poverty alleviation is perfectly expressed in a theory he continues to champion called Africapitalism. It is the belief that Africa’s private sector can, and must play a leading role in the continents development. The future we all want for ourselves will be the one of our own making.

Africapitalism can be seen in action through the entities under Tony Elumelu’s Heirs Holdings Group, including the Transnational Corporation of Nigeria Plc. which currently has over 3,000 Nigerian’s in its employ, United Bank for Africa with over 14,000 Nigerian staff and the Tony Elumelu Foundation that has so far empowered 3000 Africans through its flagship Entrepreneurship Program.



The Honourable Minister of Labour & Employment, Chris Ngige in his speech, also said “Social intervention is about attending to those who are vulnerable, those who can’t afford to eat three, two or even one square meal a day. Social intervention is what Tony Elumelu does.”



The chairman Transnational Corporation of Nigeria Plc. also stated that improving lives and transforming Africa was the motivating factor when Heirs Holdings acquired its controlling stake in Transcorp Plc. Job creation is one of many ways Elumelu continues to push this agenda. The Conglomerate’s subsidiary, Transcorp Power Limited stands today as the country’s largest power generator in line with its commitment to power Nigeria’s industries, hospitals, schools and create a truly enabling environment for Nigeria’s entrepreneurs to thrive. 



The minister of Labour & Employment also praised Tony Elumelu’s continued investment in power generation through Transcorp Power Limited, as well as the steps he took at UBA to retain employees through the recession when other companies chose to retrench. At a time when other institutions were laying off, UBA promoted 3000 staff in one day.

The minister closed by recognising the fact that Elumelu has done a lot to create jobs but more should be done, to which Tony Elumelu replied “Help us create the right enabling environment and we will.”

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