Top 5 Nigerian Philanthropists Inspiring Youth Entrepreneurship

The Nigerian business landscape is dotted with some of Africa’s richest entrepreneurs, some with assets that could match the GDP of small African countries. While some of the high net-worth individuals are just content to continue to dominate the rich list while expanding their business interests, others are borrowing a leaf from the philanthropic culture of their counterparts in the West, like Bill Gates and Richard Branson to help lay the foundation of a prosperous continent for Africa.
Here, we profile Nigeria’s top billionaires inspiring the next generation through wide-reaching philanthropic initiatives; just as the nation gears for the next century of her existence, and the youth look for leadership and direction to actualise their potentials.

Tony Elumelu

Having seen how a $5million dollar investment in a small, dying bank about two decades ago transformed into a respectable global brand, Tony Elumelu, the former CEO of UBA (the bank), is now inspiring the next generation of African entrepreneurs to actively play greater roles the development of the continent.
His reach-out channel is the Tony Elumelu Foundation (TEF) which focuses on supporting entrepreneurs in Africa by enhancing the competitiveness of the private sector; and built on a vision it terms ‘Africapitalism’.
Elumelu often cites the UBA example which he helped build into a multinational, pan-African financial institution that has created 25,000 jobs, generated wealth in communities all across Africa, expanded finance for trade, created stronger financial infrastructure for investment and economic growth, paid taxes to national and local governments to support public services, and given millions of customers control over their financial lives.
“Imagine if we created 1000 home grown pan-African companies like UBA in Africa – now that is impact. That is what drives me and that is why we started the Foundation,” he says of his philanthropic drive.
The goal of the Foundation is to help grow 1000 leading African SMEs into pan-African and global business that employ significant numbers, pay taxes and create prosperity and wealth.
“We also plan to build a world-class business school in Nigeria in the long-term,” adds Elumelu, who is also the Chairman of Heirs Holdings, which has significant interests in the ICT, financial services, energy, real estate and hospitality, agribusiness, and healthcare sectors.
TEF supports projects like the Nigeria Fast Growth 50 to demonstrate our desire to embrace global opportunities and practices, while ensuring that as much as possible of the value adding aspects of Africa’s resource wealth stay on the African continent.
“It is my hope that the Foundation will inspire business and entrepreneurs to actively play a more role in Africa’s development. This is my vision of ‘Africapitalism,’” Elumelu concludes.

Theophilus Danjuma

Former Nigerian Defence Minister and Chairman of South Atlantic Petroleum, Lt. General TY Danjuma (Rtd.) has set aside over $100 million into his Charity, the TY Danjuma Foundation - making it one of Africa’s largest charities, he, the nation’s biggest philanthropist.
The TY Danjuma Foundation makes grants to and partners with non-governmental organisations that champion and promote causes in education, free healthcare, policy advocacy and poverty alleviation.
TY Danjuma Foundation encourages individuals, private organizations, the civil society and government to make effective strategic investment in the development of the Nigerian youths, to secure the future of the nation.
The Foundation also celebrates the efforts of its grantees who through their laudable youth focused projects are building the capacities of Nigerian youths, like the After School Graduate Development Center (AGDC) which works with undergraduates in the University of Benin on a project titled ‘Work Intelligent Nigerian Graduate’ (WINGS).
The others include Women in Management and Business (WIMBIZ) to work with young girls and women in Edo state on a project titled Young Girls/Women Leadership and Mentoring (YGWLM); and African Women and Youth Organization (AWYO) to carry out a Graduate Integration Programme (GIP) for youths in Abuja

Kola Aluko

A self-made billionaire with business interests spanning the oil and gas, and aviation sectors, Kola Aluko, who is a passionate motor sports enthusiast, often cites Ayrton Senna as a main inspiration, drawing parallels between racing, business and life in general.
“From an early age, I very ambitious and I always knew I wanted to work for myself,” says the Co-Chief Officer and Executive Director of Atlantic Energy; while also advising youths that “the key is focus, focus and again focus. Identify the things you are good at, your strengths, and get to work on your weaknesses.”
But the Kola 45 year-old Osun State energy business magnate, who was ranked by Forbes Africa as one of the 40th Richest Africans, as well as included in the Top Ten list of Successful African Entrepreneurs to Follow on Twitter, isn’t all about motivation talk. He has set about to impact on youths on the continent through the Kola Aluko Foundation, which works to inspire, nurture, mentor and support young business talents in Africa. The foundation sponsored the Nigerian Centenary Photography Exhibition in London.
In tune with his philanthropic spirit, Kola Aluko also a co-founded ‘Made in Africa (MiAF)’ with international Ghanaian fashion designer Oswald Boateng to support and fund master plans and feasibility studies for transformational and large scale developments and infrastructure projects across the African continent.
MiAF launched the Africa50 fund at New York's NASDAQ in September 2013, setting a record as Africa's largest infrastructure investment vehicle to date. MiAF, in alliance with the African Development Bank (ADB), aims to raise US$500 million for Africa50 by early 2014.

Rochas Okorocha

Growing up on the dusty streets of Jos in Northern Nigeria, Rochas Okorocha had a bitter taste of poverty, but rose from grass to grace through sheer hard work, diligence, courage and determination.
He hawked groceries in Barkin Ladi, Jos, even before he reached his teens, but by age 14, he had bought his first bus. He later became a proprietor of a commercial school, made his first one million naira from a commission on sale of road construction equipment and sold fairly used cars via Cotonou in Benin Republic.
Not one to forget his humble roots, Okorocha, who today is the governor of Imo State and is a proud holder of LL.B and LL.M degrees and a PGD in Management, is helping to build credible futures for indigent children of the next generation through the Rochas Foundation.
The Rochas Foundation activities span education, health and social Responsibilities and economic empowerment; with special focus on building schools that offer free education to the underprivileged across Nigeria.
Over the years, the foundation has put smiles on many faces. Today, Rochas boasts of a roll call of 6000 children receiving free education in secondary schools across Owerri, Jos, Ibadan, Gboko and Kano. The Foundation is also planning to build a tuition-free University in Ogboko, which will be the first free university in Africa.

Funso Alakija

In an interview she granted to last year to CNN African Voices, Folorunso Alakija who is ranked by Forbes as the world’s richest black woman and Nigeria's first female billionaire with a net worth of $2.5 billion says she wants to tell “as much of my life as I could to encourage people, to encourage others to get to where they should be, where they want to be.”
The Ikorodu indigene of Lagos State, and Executive Vice Chairman of Famfa Oil Limited was talking about her then newly released autobiography, titled ‘Growing With The Hand That Gives the Rose’ - in which she shares the secrets to her success through her life experiences and challenges.
Being a woman herself, her philanthropic gestures are naturally targeted primarily at women and young people, in that order. Her vehicle of charity is the Rose of Sharon Foundation (ROSF), which main objective includes easing the burdens of existence for widows and orphans, through community network.
Alakija, who is also the CEO of the Rose of Sharon Group, has through her Foundation helped to fend for 2,751 widows and 963 widows’ children, 66 orphans and 11 widows at university through the foundation.
The former banking executive-turned-fashion designer-turned oil magnate says her organisation’s next goal is to help set up schools across Nigeria, in areas where the women would be able to work the land while their children would attend classes within walking distance.
Of entrepreneurial and professional opportunities in Nigeria, Alakija says the “it’s a land flowing with opportunities, land flowing with milk and honey. It has its challenges, its faults, but Rome wasn’t built in a day and we all have to come together those who live in it and those living abroad and come together to build our nation.”

Signed by Inspire African Youth

http://inspireafricanyouth..com/

It will be nice to see all these foundations move beyond philanthropic gestures and help produce another set of millionaires. Don't just give them fish, teach them how to fish!!!

I am really inspired by Tony Elumelu, its funny how this sand has formed a ROCK for nigerian youth

biko why is Kola Aluko on the list, he only promised to support Nigerian youths, he hasnt done it yet

Alakija should be top of this list, humble woman. I like the fact she doesn't deny that she was born with a silver spoon. Okorocha is another hustler on the list and Tony is my Mr bad sharp guy. I'm still wondering what Kola Aluko is doing on this list. What has he done with his own foundation? I thought he promised to help entrepreneurs during that his London event that was everywhere. Four months and we are still waiting no word on that. I hope that one is not a scam sha!

After looting our commonwealth, they are now giving us peanuts and we call them philanthropists? No. For me, I call them bloody thieves!

The Western society is big on philanthropy and that's why they keep on advancing. It's good to know that some set of wealthy Nigerian business think beyond their own and family's interests only. Heard sometimes ago particularly about Kola Aluko's charity project coming on stream this year. Really looking forward to it as I hope to take part, win and hopefully get d necessary funding for a project I've been on. U know d thing wit Nigerian banks, they dont help budding entrepreneurs, except established ones already. Doesnt help d economy at all or our future as a nation.

I appreciate what you are trying to do Inspire African Youth. It is importatnt for a society to look into its history and Bleep to fuel the Bleep of today’s youth. I however strongly disagree with this listing; it is a list of opportunists due to the rot in our system. Maybe you do not know and like the legal general rule puts it ignorantia legis neminem excusat which means ignorance of fact excuses it is the ignorance of law that doesn’t so I will educate you on those on this list.

Tony Elumelu
Tony Elumelu a fraudulent and notorious banker who was known for his non-existent corporate ethics. He was well known for sending female bankers to seduce target customers for marketing gains during is majestic reign in STB some years ago. But now he has successfully laundered his image and he now speaks all over the world and his now has a lot accolades and prestige attached to his personality. He now back as head of UBA. Well, I guess we forgot. He did a good job cleaning up his past that we forgot so quickly.

Theophilus Danjuma
Really!!! I can stand anyone on this list. Maybe others were hardworking folks who needed to cut some corners to get to where we now see them to be. But please not TD, he was a former defense minister during military rule. Tell me one other thing he ever did to amass so much wealth that he has apart from the unchallenged allocation of oil wells. Who else won’t make a truck load of money from such? I bet we don’t want too many of him. He has no hard work attached to journey as far as I know. But then at least he is giving out of all that he has stolen or he was given for free. Maybe that qualifies him to be on the list.

Kola Aluko
All talk and nothing! Didn’t this acclaimed businessman launch a foundation at NASDAQ? What happened to all the promises then? The research, the developmental promises, the funds raised. He comes once in a while using his spin doctors to say juicy things to get on the good side of the media.
Did you notice how he was quick to announce another foundation after news in some quarters had it that Interpol was on his tail? Since that announcement what else have you heard? Nothing!
I think you should ask yourself what this guy done to deserve the a philanthropist tag aside giving money to foreigners.

Rochas Okorocha
Another unclear story of rise to fame. This guy is just trying to launder his image. Can you remember the flamboyant entry into eagle square during the presidential primaries in 2007? These are not the type of example we need in our society. What achievement can be attributed to his foundation apart from being a tool to launder his image? I ask all these questions so the inner part of you can objectively question the folks on this list.

Funso Alakija
A little bit of background about Funso Alakija. She was Mariam Babaginda’s hair dresser who for reasons that will take too long to explain got an oil bloc handed over to her on a platter of gold. Maybe we will consider that she did so well in the salon that Mariam Babaginda considered an oil bloc to be the best way to reward her. But the facts are out there about how controversial her oil bloc is but that is the story for another day. She relatively qualifies to be the list. A one eye man is the king in the land of the blind.
I suggest you have a rethink of all everyone on the list.

Signed: End Corruption in Nigeria

WE ARE A TEAM OF HONEST, SMART YOUNG ENGINEERS WHO ARE MAJOR DEALERS / SUPPLIERS OF QUALITY HARD IRON STONE, CHIPPING, GRANITE AND MARBLE AROUND SOUTH EAST (ABIA, ENUGU, EBONYI, IMO AND ANAMBRA) AND SOUTH SOUTH (RIVERS, BAYELSA ETC) AREAS OF NIGERIA AT A VERY CHEAP PRICE. WE ARE SUPPLIERS OF GRAVEL & BOULDERS,GRANITE STONES,BUILDING STONE OF ALL KIND FROM NIGERIA. WE ARE READY AND WILLING TO SUPPLY AT A VERY LOW AND GOOD PRICE BELOW THE INTERNATIONAL MARKET PRICE. FEEL FREE TO CONTACT US THROUGH OUR EMAIL: lorrinno@yahoo.com,

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I think Uche Ogah should've been there.

please check your e-mail sent from naturalstoneng@hotmail.com
www.bilginmuhendisliktr.com

lorrinno:
WE ARE A TEAM OF HONEST, SMART YOUNG ENGINEERS WHO ARE MAJOR DEALERS / SUPPLIERS OF QUALITY HARD IRON STONE, CHIPPING, GRANITE AND MARBLE AROUND SOUTH EAST (ABIA, ENUGU, EBONYI, IMO AND ANAMBRA) AND SOUTH SOUTH (RIVERS, BAYELSA ETC) AREAS OF NIGERIA AT A VERY CHEAP PRICE. WE ARE SUPPLIERS OF GRAVEL & BOULDERS,GRANITE STONES,BUILDING STONE OF ALL KIND FROM NIGERIA. WE ARE READY AND WILLING TO SUPPLY AT A VERY LOW AND GOOD PRICE BELOW THE INTERNATIONAL MARKET PRICE. FEEL FREE TO CONTACT US THROUGH OUR EMAIL: lorrinno@yahoo.com,

WE MAKE SURE THE QUANTITY PAID FOR IS COMPLETELY SUPPLIED (END-TO-END FULL TRUCK LOAD).
WE ALSO HAVE TRUCKS FOR TRANSPORTATION AND HAULAGE SERVICES.
MY CONTACTS ARE: 08064336663 AND 08175526299