Elumelu Urges US Congress to Pass Electrify Africa Act

The Chairman, Heirs Holdings and Founder, Tony Elumelu Foundation (TEF), Mr. Tony Elumelu has called on the United States Congress to pass the Electrify Africa Act.

According to Elumelu, the passage in to law would make a world of difference in Africa.

“When you leave this place, call your Representatives and the leadership of the House and ask them to pass the bill,” Elumelu urged members of the packed audience while speaking in Washington D.C; during the “Power Africa Summit,” held recently.

The bill which would preserve and expand President Barack Obama’s Power Africa Initiative by codifying access to electricity as a US foreign policy priority for Africa had already been passed by the US Senate and was expected be voted on by the US House of Representatives this month.

Elumelu commended President Obama for working through the Power Africa Initiative to mobilise the private sector to invest $43 billion in the African power sector.

According to Elumelu, Africa must win the energy challenge if it seeks to become an industrial power in the 21st century, noting that “power outages on the continent must spark power outages. The kind of outage that ignites the activists in us.”

Elumelu’s Heirs Holdings, a propriety Investment company, through Transcorp Power Limited has committed $2.5 billion to deliver 2,000 megawatts of electricity under the Power Africa Initiative. Already, Transcorp Power is currently generating about 19 per cent of Nigeria’s power needs with a target to increase capacity to 25 per cent in the near future.

“Power cuts across and has impact on healthcare delivery, job creation, education, food security communications and all other sectors of the economy. It is unacceptable that 600 million Africans lack access to energy in the 21st century,” Elumelu said.

The call in Washington DC, followed a joint letter to the U.S. Congress from Elumelu and President of Dangote Group, Alhaji Aliko Dangote, on behalf of the African Energy Leaders Group (AELG), which they co-founded with other leaders in January 2015. The letter had also urged members of the US. House of Representatives to act swiftly and pass the legislation to scale up the US efforts to help provide Africans with access to electricity.

In continuation of his advocacy for Africa, Elumelu also testified before the US International Trade Commission on “The Future of the US - Africa Trade and Investment Relationship,” on the same day. Chaired by Ambassador Michael Froman, the US Trade Representative, the Hearing was part of efforts by the US government to put building blocks in place for the next phase in its economic relationship with Africa.

As a recognised African business and thought leader, Elumelu was invited to share ideas on how to enhance the US-Africa trade and investment relationships beyond the preferential access to the US market for Africa’s products under the African Growth and Opportunity Act (AGOA), to other tools like free trade agreements and investment treaties among others.

Speaking at the hearing, Elumelu said Africa does not need another trade agreement or preferential program and called for a new trade paradigm in the trade and investment relationship with the continent.

He said: “It is time to move beyond the unequal exchange of cheap raw materials for expensive finished goods that disadvantages Africa, to one that ensures technology transfer and sustainable economic development, huge economic returns for investors and creates new jobs for both sides.”