Chairman of United Bank for Africa, UBA, Mr. Tony Elumelu, has asked President Bola Tinubu to prioritise security in order to tackle the current food scarcity and attract investment into the country.
He spoke at the Annual Conference of the Chartered Institute of Bankers of Nigeria, CIBN, in Abuja, yesterday.
His words: “To protect our people, feed them, attract investment, and foster trade, we must prioritise security.
“Insecurity has become a national crisis, which must be dealt with decisively and urgently. Our people deserve to go to their farms unhindered, live peacefully and conduct their lives and businesses without fear; it is the fundamental right of every citizen.”
Banking
Speaking on the banking sector, Elumelu described it as “a cornerstone of Nigeria’s economy”, adding that its transformation over the last few decades was one of the nation’s success stories.
“The sector employs millions, provides crucial financial support to countless businesses, and generates income for millions of shareholders.
”However, the sector faces challenges that impede its growth and innovation, including regulatory and high compliance costs.
“To overcome these challenges, stakeholders—including government agencies, regulatory bodies, and banking institutions—must engage in constructive dialogue to foster a collaborative environment.
“By working together, we can build a more resilient banking sector that drives economic growth and supports the aspirations of Nigerians,” Elumelu said.
In his message to the conference , President Bola Tinubu urged the business and banking community to prioritize capacity building, talent development, and youth empowerment as drivers of the nation’s economic growth.
The President, who was represented by Vice President Kashim Shettima, said his administration placed priority on growing the economy.
According to him, the federal government is training three million Nigerian youths in digital technology and essential skills, with plans to deploy them to innovation firms across the country.
Tinubu said: “We are committed to achieving a 70 per cent digital literacy level by 2027 through collaboration and innovation.
“We must focus on capacity building, talent development, and youth empowerment. These are the hands of our youth, and we must equip them with the skills, knowledge, and opportunities needed to drive our nation forward.”
He emphasized that the initiatives would be critical to Nigeria’s progress, adding that “the journey ahead will require determination, but I am confident that with the support of the Nigerian banking and finance sector, we can accelerate economic growth and ensure prosperity for all Nigerians.”
Vanguard