Tony Elumelu Commends FX Overhaul, Supports Tinubu Administration’s Reforms
Witnessing a significant moment at Nigeria’s State House on Friday, February 13, 2026, as President Bola Ahmed Tinubu hosted billionaire investor Tony Elumelu for a closed-door meeting centered on economic growth and the future of small businesses.
L: Elumelu, R: Tinubu
Elumelu Chairman of Heirs Holdings, Transcorp, and United Bank for Africa, and founder of The Tony Elumelu Foundation—emerged from the meeting expressing strong optimism about the administration’s direction. He described himself as honored to meet with the President and encouraged by what he called a firm commitment to strengthening Small and Medium Enterprises (SMEs).
According to sources familiar with the discussion, talks focused on expanding access to funding for entrepreneurs, improving the policy environment for businesses, and unlocking greater opportunities for young Nigerians. Insiders characterized the atmosphere as constructive, forward-looking, and solution-driven.
Widely regarded as one of the administration’s most prominent private-sector allies, Elumelu has consistently supported key economic reforms. His engagement spans industries from banking and power to philanthropy where he continues to champion investment, job creation, and enterprise development.
Following the meeting, Elumelu also voiced confidence in Nigeria’s foreign exchange reforms, describing the FX market as “totally sorted” under policies driven by the Central Bank. His remarks quickly generated nationwide attention, with many interpreting them as a strong endorsement of the government’s economic reset strategy.
Political observers say the engagement reflects a strengthening partnership between government and big business, with SMEs positioned at the center of Nigeria’s economic revival agenda. For entrepreneurs across the country, the signal was clear: collaboration between public leadership and private capital may prove pivotal in driving sustainable national growth.
Analysts describe Elumelu’s stance as deliberate and strategic focused not only on supporting the administration’s reform agenda but also on delivering tangible benefits for Nigerian businesses and citizens alike.
