'Poverty eradication' Tony Elumelu reveals 158 Oyo indigenes benefit from TEF

Tony Elumelu, United Bank for Africa (UBA) Plc Chairman and Founder of Tony Elumelu Foundation has revealed that the Tony Elumelu Foundation Entrepreneurship Programme (TEF) has empowered 158 person in the last seven years.

Elumelu made the announcement at the inaugural Oyo State Agribusiness Summit on Wednesday, October 27th, 2021 in Ibadan, Oyo State.

“The summit should go beyond building Nigeria’s agribusiness hub to building Africa’s,” he said.

“I think we should progress by taking it a little further. We aim for not just Nigeria’s agribusniess hub but to the whole of Africa.

“Agriculture is critical for Africa’s development for two main reasons: it employs more women than any other sector and it is the continent’s largest employer of labor.”

“The agricultural sector generates broad-based, inclusive economic growth with a multiplier effect that aids in the lifting of families and communities out of poverty.”

“Agriculture investment is thus a direct investment in poverty eradication and job creation, which is why the Tony Elumelu Foundation, the leading philanthropy empowering young African entrepreneurs from all 54 African countries, prioritizes agriculture.”

“Agri-business ventures accounted for more than a third of the over 10,000 young Nigerians and Africans who benefited from our non-refundable seed capital of $5000.”

“TEF has empowered 158 indigenes of Oyo State in the last seven years through the Tony Elumelu Foundation Entrepreneurship Programme.”

For those who don’t know, the Oyo Agribusiness Summit is a project-managed by Agro4you Limited in conjunction with the Oyo State Agribusiness Development Agency (OYSADA), in line with Governor Seyi Makinde’s vision and road-map towards changing the agricultural landscape of the state to become the agribusiness hub of Sub-Saharan Africa.