Tony Elumelu, chairman of United Bank for Africa and Heirs Holdings, has warned that poverty and economic exclusion remain among the most pressing global challenges, driving migration across continents.
In an interview published in the April 2026 edition of Forbes Italia, Elumelu said that people are far less likely to risk dangerous migration journeys when they have access to economic opportunities in their home countries.
“Poverty threatens us all,” he said, emphasising that the lack of inclusive growth continues to push many, particularly young people, to seek better prospects abroad under often perilous conditions.
Elumelu argued that addressing the root causes of migration requires a sustained commitment to job creation, entrepreneurship, and investment in local economies, especially across Africa. According to him, empowering individuals through access to capital and opportunities is key to reducing forced migration.
The Nigerian entrepreneur has long advocated for Africapitalism — a philosophy that promotes private sector-led development — as a pathway to tackle inequality and unlock economic potential across the continent.
His comments come amid growing global concern over irregular migration and the risks faced by migrants crossing deserts and seas in search of better livelihoods.
Elumelu added that fostering inclusive economic systems would not only curb migration pressures but also contribute to long-term global stability and shared prosperity.
