Billionaire investor and founder of the Tony Elumelu Foundation, Tony Elumelu, has publicly backed President Bola Ahmed Tinubu’s ongoing economic reform agenda, highlighting shared priorities on strengthening Nigeria’s economy.

Elumelu spoke to state house correspondents in Abuja on Friday, February 13, 2026, after holding discussions with President Tinubu at the Presidential Villa. According to reports, the meeting focused on key areas of national economic policy, including support for small and medium‑size enterprises (SMEs), tax reform, and revitalisation of the nation’s power sector. 

In his comments, Elumelu described the reforms under President Tinubu as “worthy of commendation,” noting that the administration’s actions are aimed at broadening economic opportunities and strengthening institutional support for the private sector. 

One of the central themes of the meeting was the role of SMEs in job creation and inclusive economic growth. Elumelu underscored the importance of small and medium‑scale enterprises as engines of innovation and economic resilience. He said discussions with the president included ways to support these businesses through targeted tax reforms and financial interventions that ease operational pressures and encourage expansion. 

Elumelu also noted that President Tinubu expressed strong commitment to ongoing tax restructuring to help streamline the business environment, reduce bureaucratic bottlenecks, and attract investment. This point resonated with private‑sector leaders who have long called for clearer and more predictable tax policies to foster sustainable growth. 

Reliable power supply is another major concern highlighted during the discussion. Elumelu stressed that improving electricity infrastructure and resolving long standing debts owed to power producers are essential steps toward boosting productivity, supporting industries, and attracting capital inflows. The business leader praised the president’s commitment to fast‑tracking solutions that would ease longstanding power sector challenges. 

Elumelu’s endorsement of President Tinubu’s reforms also included remarks about the broader economic climate in Nigeria. He expressed cautious optimism, noting that recent policy shifts have led to improved predictability in the financial system and a more stable environment for both local and international investors. Elumelu said that predictability and stability in monetary policy are crucial for confidence within the banking and business sectors. 

Financial experts and industry watchers have similarly pointed to some positive indicators following policy adjustments, such as observed stability in the foreign exchange market and strategic initiatives in key sectors like energy and taxation. In recent months, private business leaders have publicly welcomed moves that align national economic strategy with broader efforts to foster growth and innovation. 

Despite the strong endorsement, Elumelu also highlighted that challenges remain especially in ensuring reliable power and sustained access to credit for growing businesses. He said that addressing these issues will require continued collaboration between the government and the private sector. 

Elumelu’s public support of President Tinubu’s reforms has drawn attention across media and political commentary circles. Many Nigerians have engaged in discussions online about the direction of economic policy and the role of influential business figures in shaping national development dialogues.

Some commentators have praised the endorsement as a sign of alignment between government and private sector objectives, while others have called for more visible outcomes that directly improve living conditions for ordinary citizens. Regardless of opinion, the conversation underscores the importance of economic reform as a central issue in Nigeria’s policy landscape in 2026.