Business mogul and philanthropist, Tony Elumelu has announced a N1.5 billion donation to the Elumelu Nigeria Empowerment Fund, for communities and people who have been affected by conflicts, hazards, and natural disasters.
The money was donated to the fund from the Tony Elumelu Foundation and Heirs Holdings’companies. The fund is expected to partner with local citizens to transform Nigerian communities that have been displaced into thriving and economically sustainable communities.
The fund will create opportunities and empower people in affected communities across Nigeria to rebuild their lives and businesses, and also instill a sense of economic empowerment for the long-term. It was stated that the fund would also focus on communities facing conflicts like those in Jos, Plateau State and the Niger Delta.
While giving his speech, Elumelu stated that “the fund would have a lasting impact on the victims by making social investments and grants in select communities that empower individuals, to foster an enabling environment and support a generation of entrepreneurs – who can lift themselves and their communities out of poverty and onward and upward into prosperity.”
Meanwhile, President Goodluck Jonathan also made a donation of N250 million, saying that the government will intensify its efforts in eliminating the threat of terrorism and to restore law and order in the country. He added that it was important to recognize that the assault on the North-East region has destroyed infrastructure, displaced population and arrested economic activities.
Tony Elumelu is one of the richest men in Nigeria with net worth close to $1billion.
Photo Credit: Tony Elumelu Foundation
