GR Diary

Be Inspired by the story of Tony Elumelu: The sales boy turned billionaire

Published

7 years ago

January 3, 2019

grassroots

Tony Onyemaechi Elumelu is a Nigerian economist, entrepreneur, and philanthropist. He is the chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation.

According to him, below is a brief story of his success on how he rose from the being a poor and hungry salesman to a business mogul and a billionaire as a result of hard work and luck.

In business, the role luck plays in success and personal achievement is rarely discussed. If luck is mentioned, it is done with slight condescension, and usually dismissed as a product of hard work, not deserving significant attention. While hard work is paramount – and I have written extensively about the importance of working hard – history and my own experiences show that there is often a large element of success that hard work alone can not explain. It is simply not true that “you make your own luck.”

I started my career as a salesman, a copier salesman to be specific, young, hungry, and hardworking, but the reality was that I was just one of the thousands of young Nigerian graduates, all eager to succeed. How did I get from there to where I am now? Of course, hard work, resilience, a long-term vision – but also luck.

A year after earning a Master’s degree in Economics from the University of Lagos, I applied to join a new generation bank, Allstates Trust Bank. The bank’s one-page newspaper advertisement demanded a minimum of a Second Class Upper result, but I applied regardless, submitting a cover letter and filled out application with my Second Class Lower Economics result.

By a stroke of luck, my application was reviewed by the Chairman/CEO, a painstaking man who carefully read my cover letter and was drawn to the confidence in my words. “I know I may not have met the qualifying criteria for the advertised roles, but I am intelligent, driven, ambitious and I will make the bank proud. My Second Class Lower result does not demonstrate the full extent of my intelligence and ability, and I know I can do so much more.” He read those words and took a chance on me. Though “unqualified”, he decided to throw me a lifeline, an opportunity.

I was invited to join the shortlist, followed by a long series of interviews and even more tests. At the end of a very rigorous process, I received good news – I had a place as an entry-level analyst. Even now, I wonder: What if the Founder had not personally gone through my application? What if my application was rejected at the very beginning? What if I never got the opportunity to work at Allstates Trust Bank?

The story continues: Within 12 months at the bank, aged 27, I went from analyst to branch manager – the youngest ever bank branch manager at the time. I was hard working, energetic, creative and prioritised getting things done, but it was also good fortune that my bosses Toyin Akin-Johnson and Ebitimi Banigo took notice, and then, believed in me. They took a chance on me by appointing me as branch manager after an incredibly short time in the bank. They recognised in me the raw materials needed to make a good leader and were prepared to invest in me and my ability. My rise to Branch Manager within a short period is a great story but I know in my heart, I was lucky, as well as deserving.

This position of branch manager was a solid platform which launched me into several top leadership roles. When we, a small group of hungry, determined, young outsiders, took over struggling Crystal Bank, it was as a direct result of the preparedness and exposure that we received early from our superiors and mentors. Without the intervention and goodwill of these people in my career, I would not have been prepared to take on far greater roles. These learning opportunities laid the pathway to future achievements. To put simply, I was lucky enough to be identified and trusted so early on in my career, and this put me on a unique road to success. I keep this in mind – it is humbling and also drives much of what I do today.

When I left UBA as Chief Executive Officer (CEO) in 2010 to pursue other interests, I made a vow that through the Tony Elumelu Foundation, I would “institutionalise” luck and democratise access to opportunities for young Africans. I promised to leverage the success I have enjoyed, to spread luck and hope, provide opportunities and to empower the next generation of African entrepreneurs to succeed. Without luck in my early career, I would not be the man that I am today. I am a leader and philanthropist today because I encountered people who gave me a chance early in my career. It has been a lifetime goal to pay this forward in a transformative and impactful way.

Over the past three decades I have spent as a banker, investor, and turnaround expert, I have had the opportunity to meet thousands of entrepreneurs, like me. Many of them are young people with incredible dreams and business ideas but without the experience or access to mentoring and support required to build successful businesses. But most importantly, they have not yet been exposed to the right opportunity.

Our entrepreneurs are hard at work across the continent, identifying gaps in the market for specific products and services, and bridging these gaps with their innovation and ingenuity. Yet, many of these budding entrepreneurs often lack the capital, the networks, the training, the support to take their small business to national or regional scale. All they need is a helping hand, some luck, someone to believe in them and take a chance on them.

This is what the Tony Elumelu Foundation offers: a platform that empowers African entrepreneurs with opportunities ranging from business management training to mentoring, to funding to networking – championing their cause and giving them a global voice to actualise their ambitions. This is precisely why I launched the USD$100 million Tony Elumelu Foundation Entrepreneurship Programme to empower the next generation of African entrepreneurs. Indeed, their businesses may become the next UBAs (United Bank for Africa).

So, when I am asked, “Tony, why are you and your family doing this? What is in it for you?” I smile and recount my own story of luck. Luck is real, it is powerful, and I am committed to spreading it as far as I can. I am a beneficiary of luck, and I am passionate about sharing it across the continent, to all 54 countries.

Source: Gist Habit

Events

NOTAP Announces Plan for 2025 Technology and Innovation Summit

….Harnessing R&D and Innovation Potentials of Nigeria’s STI Ecosystem

Published

3 days ago

October 11, 2025

Ani Sandra

The National Office for Technology Acquisition and Promotion (NOTAP) has announced the forthcoming NOTAP Technology and Innovation Summit (NTIS 2025), scheduled to hold on Thursday, 6th and Friday, 7th November 2025 at THE HALL, 16 Musa Yar’Adua Street, Victoria Island, Lagos, commencing daily at 9:00 AM.

Themed “Harnessing R&D and Innovation Potentials of Nigeria’s STI Ecosystem,” the two-day summit will convene key leaders from government, private sector, academia, development partners, and the startup ecosystem to explore strategies for strengthening Nigeria’s innovation landscape and positioning the nation as a hub for technology-driven economic growth.

Speaking on the upcoming summit, Dr. Lady Obiageli Amadiobi, the director-general of NOTAP, emphasized that the forum will serve as a strategic platform to foster dialogue and action around innovation policy, technology transfer, intellectual property, and commercialization.

“Our goal is to accelerate the transformation of research and creativity into commercially viable enterprises that drive national development,” she noted.

Summit Highlights

The NOTAP Technology and Innovation Summit 2025 will feature:

Ministerial Address and Keynote Sessions by renowned leaders in innovation, policy, and technology.
High-Level Panel Discussions on key themes such as technology transfer, intellectual property sovereignty, and building an AI-ready human resources.
Launching of Project NOVA (Nigeria’s Outsourcing Value Acceleration) and promotion of the NOTAP Local Vendor Policy (LVP) across all sectors of the economy.
Workshops and Breakout Sessions on IP management, funding access, and talent development.
Exhibitions and Innovation Showcases, featuring startups, research institutions, and technology companies.
Hackathon and Pitch Showcase, for emerging innovators and young entrepreneurs.
Networking and Partnership Sessions to foster collaboration across sectors.

The Summit will also host a Special Exhibition Pavilion to highlight Nigeria’s emerging technologies, research outputs, and development partnerships, reflecting NOTAP’s commitment to bridging the gap between invention and commercialization.

Partnership and Collaborations

The event is organized by the National Office for Technology Acquisition and Promotion (NOTAP) in partnership with Crestsage Limited and collaboration with stakeholders, to ensure a world-class experience that aligns with NOTAP’s mission of accelerating technology, promoting innovation and sustainable development across Nigeria.

The National Office for Technology Acquisition and Promotion (NOTAP) is a parastatal under the Federal Ministry of Innovation, Science and Technology, mandated to regulate the acquisition of foreign technology, promote local research, and encourage the development and commercialization of indigenous technologies. Through strategic partnerships, policy advocacy, and capacity development, NOTAP continues to play pivotal roles in advancing Nigeria’s innovation ecosystem.

Events

Ortom, NOA DG, others to feature as Panelists at GOCOP 2025 Conference

Published

3 weeks ago

September 26, 2025

Ani Sandra

Panelists at GOCOP conference

The Guild of Corporate Online Publishers (GOCOP) has announced that Chief Samuel Ortom, former Governor of Benue State, will serve as one of the panelists at the upcoming GOCOP 2025 Conference.

The conference theme is “Reconciling Campaign Promises with Governance Realities: Challenges and Prospects.”

A press statement by GOCOP publicity secretary, Ogbuefi Remmy Nweke, disclosed that the panel discussion will feature esteemed panelists, including Prof. Abiodun Adeniyi, Registrar, Base University, Abuja; Prof. Abigail Ogwezzy-Ndisika,2025 Director, Institute of Continuing Education (UNILAG); and Alhaji Lanre Issa-Orilu, Director-General, National Orientation Agency.

The conference, he said, will take place on October 9, 2025, at 10:00 a.m. at the Radisson Blu Hotel, Ikeja, Lagos.

He recalled that GOCOP had earlier announced that the keynote speaker will be Rt. Hon. Aminu Bello Masari, former Speaker of the House of Representatives and immediate past Governor of Katsina State.

Events

Takang, Ladid Lead Africa’s Digital Sovereignty Debate At DACE 2025

Published

4 weeks ago

September 17, 2025

grassroots

L-R: Prof. Latif Ladid and Dr. Armstrong Takang

How can Africa remain safe and powerful in a world being rapidly redefined by Artificial Intelligence?

That pressing question will take centre stage at the 13th Digital Africa Conference & Exhibition (DACE), scheduled for October 28–29, 2025, in Abuja.

The two-day gathering will be anchored by two powerhouse keynote speakers: Dr. Armstrong Takang on Day 1 and Prof. Latif Ladid on Day 2, each bringing unique expertise to Africa’s digital sovereignty conversation.

Dr. Armstrong Takang, Managing Director/Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), will open the conference with a keynote that situates Africa’s digital sovereignty within the broader context of economic reform, institutional innovation, and strategic governance.

A consummate professional and visionary thinker, Dr. Takang has spent decades bridging the gap between public reform and private investment across Africa and the United States. Before his current role at MOFI, he served as Special Adviser to the Honourable Minister of Finance, Budget and National Planning, where he led the MOFI Transformation Team.

His career includes leading Growth Alliance Partners (GAP), a pan-African firm that helped turn around several businesses to create shareholder value, and working at KPMG in New York.

He has been instrumental in designing and implementing key national initiatives such as the Integrated Payroll and Personnel Information System (IPPIS), the Voluntary Asset and Income Declaration Scheme (VAIDS), and the ICT components of EFCC/NFIU systems.

Dr. Takang has also chaired national ICT committees and contributed to landmark policies, including Nigeria’s Content Development in ICT and the country’s 50-year Development Plan. His keynote will highlight how digital and financial sovereignty intersect to secure Africa’s long-term competitiveness.

On the other hand, Prof. Latif Ladid, Founder & President of the IPv6 Forum and Chair of the AI & Blockchain Global Forum, brings decades of global leadership in internet architecture, digital policy, and emerging technologies.

His expertise spans across pivotal roles from IEEE Future Networks to the Internet Society, 3GPP, and EU research on next-generation networks.

Organizers say his keynote will set the tone for the conference, unpacking how Africa can assert digital sovereignty, safeguard its data, and lead in shaping the ethics and standards of AI on the global stage.

“This year’s theme, ‘Sovereign Intelligence: Africa’s Voice in the Global Digital Order,’ isn’t just a concept, it’s a necessity,” said Dr. Evans Woherem, Chairman of Digital Africa Consult. “Prof. Ladid’s keynote will highlight what it takes for Africa to remain safe, independent, and powerful in the new AI era.”

At a time when global powers are racing to define AI norms and secure digital dominance, Africa risks being left behind if it fails to act. Much of its technology remains imported, its data stored abroad, and its languages invisible in mainstream AI systems.

DACE 2025 is designed to change this narrative, by equipping Africa with the tools, strategies, and partnerships to become a proactive co-author of the digital future.

The conference will feature high-level dialogues on digital sovereignty, policy innovation, and cross-border cooperation, alongside exhibitions of homegrown startups, developer workshops, and showcases of African-built AI tools for health, agriculture, finance, and education.

Beyond the panels and showcases, DACE 2025 is expected to produce a concrete roadmap for Africa’s digital sovereignty.

“This isn’t just about technology,” noted Woherem. “It’s about agency, safety, and independence. With Prof. Ladid setting the stage, we hope to leave Abuja with a united vision of Africa’s place in the global AI order.”

With delegates expected from across Africa and the world, the two-day gathering promises to be a defining moment in the continent’s digital journey.