News
Tony Elumelu, Jared Kushner, Other World Leaders Launch US Government Growth Strategy for Palestine and Middle East
Heads of States and other global leaders convened at the Peace to Prosperity Workshop in Bahrain, organised by the Presidency of the United States of America in partnership with the host government, the Kingdom of Bahrain, to launch the US growth strategy for Palestine and the Middle East; a first step in the long journey towards establishing an enduring future for the region; the West Bank, Gaza, and beyond.
Providing the African perspective upon special invitation from the US Government, Tony Elumelu, founder, the Tony Elumelu Foundation and Chairman, the United Bank for Africa, headlined the summit, speaking on the opening plenary alongside Christine Lagarde, managing director, International Monetary Fund (IMF); and HE Mohammed Al-Sheikh, Minister of State & Member of the Council of Ministers, Kingdom of Saudi Arabia, to share practical recommendations to unlock future economic prosperity for the Palestinian people, using what is done at the Tony Elumelu Foundation as a replicable model for the economic empowerment of young men and women from the West Bank and Gaza.
Elumelu stressed the urgency and importance of supporting and empowering young Palestinians to ignite the entrepreneurial ecosystem and strengthen the Palestinian economy. For stable growth, he reiterated that young Palestinians must be empowered with jobs and economic opportunity to contribute meaningfully to their nation’s development.
“I come from Africa; and the reality is that we do have a lot of similarities with the Palestinian people; especially in the area of demographic make up. With over 60% of its nearly 5 million strong population under 30, the young people of Palestine need Jobs Jobs and more Jobs! Without jobs, there will be no economic hope. Big corporations and government alone cannot supply the jobs demanded by Palestine’s demographic pressures. We need SMEs and startups to address joblessness in the region, create jobs and opportunities in local communities for millions of our Palestinian young brothers and sisters to become employed, meaningfully engaged, and full of economic hope, which in turn leads them away from extremism.”
The renowned investor and philanthropist who is leading by example through the Tony Elumelu Foundation which has committed US$100m to empower young African entrepreneurs, called on endowed Middle Easterners and their philanthropies to step up and become more involved in empowering the young ones of Palestine. As he explained, “In the 21st century, we cannot keep relying on western donors to help empower our own people; we must step up and create a platform where they may partner with us for scale, just as we are doing at the Tony Elumelu Foundation.”
The Tony Elumelu Foundation annually identities and empowers entrepreneurs across all of Africa’s 54 countries with non-refundable seed capital of $5000 each, mentoring and training, and in over five years, has supported 7,520 young Africans. To resolve joblessness in the region, Mr Elumelu offered his Foundation’s unique economic empowerment model to be replicated in Palestine. “Young Palestinian people need similar opportunities like the ones we currently give young African entrepreneurs through the Tony Elumelu Foundation. We acknowledge that given Africa’s huge numbers, we are touching only a top of the iceberg, but we have seen first-hand how this model transforms individual lives, families, communities and cities.”
Agreeing with Elumelu on his call for an increased focus on SMEs and young people, Saudi Arabia’s Minister of State Mohammed al-Sheikh, stated: “The younger population and proper planning is essential to creating economic prosperity in the West Bank and in Gaza. If you look at the demographics in the region, it is a young population. As the Kingdom of Saudi Arabia looked to diversify its economy and carry out the structural changes to be less reliant on oil revenue, this required real commitment and hard work and buy in from everybody, with small-to-medium enterprises at the front and center of the Kingdom’s Vision 2030.”
Elumelu also called on the government to play its own role in supporting and prioritising the young people of Palestine: “Governments must play their own role: ensuring good governance is in place, prioritising infrastructure and the fight against corruption, and creating an enabling and conducive environment so that when these young Palestinians get opportunities, they can succeed.”
He continued: “As an investor, something that speaks volumes to me when I want to chose a country to invest in is this: is the private sector in that environment doing well? Do they have small and medium scale enterprises that are flourishing? This to me is the real signal of how successful my investment will be because what it is good for local investors is good for international investors. If economic conditions for local investors are not favorable, they can’t be for foreign investors. Government must ensure that local SMEs thrive to signal to global investment community that Palestine is open for business.”
Joining Elumelu in advising on the role of the government in creating a conducive environment for the private sector, Christine Lagarde, MD, IMF added, “We have seen a pressing need for capacity development in the field of public finance management, central bank strength and domestic revenue mobilization. These are the background in which private sector can have a predictable environment within which they can operate.
Advising development agencies on a more inclusive model for even greater impact, Elumelu stated: “Development agencies should also not sit in their offices abroad to design growth programmes and strategies for the Palestinian region, but must ensure that the people of Palestine are actively involved in pulling their people out of poverty. Development agencies must assist in a strategic manner, working with local partners who understand local nuances, so that the over $19 billion spent so far by the World bank and allied institutions on innovation and entrepreneurship is more impactful, transforms more lives and addresses the real issues on ground.”
In conclusion, the founder of the Tony Elumelu Foundation commended the US Government for this timely initiative and intervention but counseled on the importance of longevity and sustainability. “For what we are gathered here to be sustainable, endure over time and lead to sustained prosperity, we must involve the Palestine people. Until we collectively agree that any economic plan we put in place for Palestine and the region must be anchored by and on the small and medium scale enterprises to be permanent and fundamentally address the issues, we will continue to rely on quick fixes. We must prioritise inclusive growth that brings all to the table – women and youth especially – which in turn will create more hope and beget more security and peace. To achieve this, there must be collaboration between the Palestinian people, friends of Palestine, neighbours of Palestine, and led by the wealthy and endowed elite in the Middle east, to work together to economically empower young Palestinians. It is not too difficult a task for us to touch significant numbers out of the 2-3 million youth in the region.”
He continued, “The Tony Elumelu Foundation is ready to deploy our expertise in collaboration with the wealthy elite from the Middle East region, to create an affirmative plan, and send a strong message of hope for the Palestinian young people. If we prioritise them and create the right future for them, we will signal a new beginning in this part of the world. Only then will we achieve security and peace permanently because these young people will become inclusive stakeholders and the true champions of prosperity.”
Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.
She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.
“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.
She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.
Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.
“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.
Cisco is exploring artificial intelligence (AI)-powered solutions to support smallholder farmers in Nigeria, as part of efforts to expand digital inclusion and technology adoption.
The initiative focuses on improving agricultural productivity through accessible, data-driven tools.
The move aligns with growing collaboration between Nigeria and the United States under the Commercial and Investment Partnership, which prioritises the digital economy, agriculture and infrastructure.
Speaking at the 2026 World Business Chicago, Brian Tippens, chief social impact and inclusion Officer at Cisco, said the company is assessing practical AI applications to help farmers combine local knowledge with data insights.
He said Cisco is exploring tools such as AI-enabled WhatsApp communities, geospatial mapping and weather intelligence to support day-to-day farming decisions.
The approach reflects a shift towards low-cost, mobile-first solutions suited to rural environments.
Tippens added that the Cisco Foundation is investing in early-stage startups developing technologies for local agricultural challenges.
Industry analysts note that AI adoption in emerging markets depends on locally relevant solutions, rather than large-scale enterprise deployments alone.
Beyond agriculture, Cisco plans to expand digital skills development in Nigeria through programmes such as the Cisco Networking Academy’s One Million Learners initiative.
Tippens said the programme also supports partnerships with organisations working with persons with disabilities, including those developing tools for people with visual impairments.
He added that Cisco’s social impact strategy aims to improve access to technology and promote inclusion, including in conflict-affected regions such as Borno State.
Cisco’s initiatives form part of broader efforts to link digital skills, connectivity and AI adoption to economic development in Nigeria.
Federal Government has launched a nationwide Artificial Intelligence (AI) capacity-building programme for teachers in Federal Unity Colleges, with about 11,700 educators set to acquire digital skills aimed at improving classroom instruction and preparing students for a technology-driven future.
The initiative advanced with the signing of the Terms of Reference (ToR) between the Federal Ministry of Education and ICEDT Consult Limited, paving the way for the nationwide implementation of the AI Teacher Capacity Development Programme.
The programme, to be implemented through the ministry’s Education Support Services Department, is part of the Federal Government’s efforts to modernise Nigeria’s education sector, strengthen teacher professionalism and equip students with skills required in the digital economy under President Bola Tinubu’s Renewed Hope Agenda.
Speaking during the signing ceremony in Abuja, the Director of the Education Support Services Department, Gabriel Amudipe, described the initiative as a strategic investment in Nigeria’s teaching workforce and the future of education.
He said the nationwide rollout followed the successful completion of a pilot phase conducted in selected Federal Unity Colleges.
According to him, the implementation model developed by ICEDT Consult Limited will ensure effective coordination and quality delivery of the programme across the country’s six geopolitical zones.
Amudipe urged officials responsible for monitoring the project to ensure strict compliance with the implementation guidelines and maintain the standards achieved during the pilot phase.
“The ministry remains committed to supporting innovative initiatives that strengthen teacher professionalism, improve learning outcomes and promote the responsible integration of emerging technologies into education,” he said.
Earlier, the Deputy Director of the Education Support Services Department, Oladele Fapohunda, described the programme as a strategic intervention designed to deepen digital innovation across Federal Unity Colleges.
He stressed that collaboration among all stakeholders would be essential to achieving the objectives of the initiative nationwide.
Also speaking, the Head of Strategic Partnerships and Learning Scientist at ICEDT Consult Limited, Dr Abdulrahman Orosanya, said the Federal Government approved the national rollout after the successful pilot implementation in six Federal Unity Colleges representing Nigeria’s six geopolitical zones.
According to Orosanya, the pilot demonstrated the potential of Artificial Intelligence to improve lesson planning, classroom delivery, assessment methods and teachers’ productivity.
He said the nationwide implementation would strengthen teachers’ digital competencies, improve instructional delivery and support the government’s vision of building a technology-driven education system capable of producing globally competitive graduates equipped with 21st-century skills.
The ceremony ended with the formal signing of the Terms of Reference by officials of the Federal Ministry of Education and ICEDT Consult Limited, signalling the commencement of preparations for full implementation across all Federal Unity Colleges.
The ministry said the programme would directly train about 11,700 teachers, while thousands of students across the country’s Federal Unity Colleges are expected to benefit through improved classroom instruction, increased digital innovation and the responsible application of Artificial Intelligence in teaching and learning.
It reaffirmed its commitment to working with relevant stakeholders to modernise Nigeria’s education system, improve teacher quality and deliver inclusive, equitable and future-ready education nationwide.
Police Uncover Fake Diplomatic Number Plate Syndicate in Abuja
Davido Shares Past Suicidal Thoughts, Drops Oriadé Album
Gavi Okays $500m for Vaccines, PHCs in Nigeria
82% of Organizations Concerned about AI Risks Even as Adoption Accelerates – Survey Reveals
The Journey to Financial Freedom: Priscilla, a PalmPay Agent Now Owns a Store
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
From Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
BON Establishes Six Ad Hoc Committees to Modernize Broadcasting
Telecom2 days agoClydestone Ghana Sues MTN Over Mobile Money
News2 days agoIHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
News2 days agoAfrica Prudential Unveils Digital Growth Strategy
E-Business2 days agoKaspersky Uncovers New Mirage Kitten Malware Used in Cyber-espionage Campaign Across Africa, Others
E-Financial2 days agoCBN Fines Banks N430m for Ignoring Customers’ Complaints
E-Financial2 days agoAfreximbank Raises $1.5b in Largest-ever Bond Issuance
E-Financial2 days agoSEC Begins Full e-Registration for Capital Market Operators
E-Financial2 days agoElon Musk Launches Invite-only X Money with Visa Debit Card