Heirs Energies has committed over $10 million to support 2,000 African startups as part of its partnership with the Tony Elumelu Foundation (TEF), reinforcing efforts to drive entrepreneurship, job creation, and economic growth across the continent.
The investment forms part of the TEF Entrepreneurship Programme, which in 2026 selected 3,200 entrepreneurs from across all 54 African countries. The beneficiaries were unveiled in Abuja following a highly competitive process that attracted more than 265,000 applications, underscoring the rising demand for startup funding and business support in Africa.
Founder and Chairman of the Tony Elumelu Foundation, Tony O. Elumelu, said entrepreneurship remains central to Africa’s long-term economic transformation.
“The future of Africa will be built by Africans who create businesses, generate jobs and solve the challenges of our continent,” he said, emphasizing the role of enterprise development in addressing unemployment and economic inclusion.
According to Heirs Energies, its support aligns with a broader strategy to link energy development with economic expansion, particularly in underserved regions where access to finance and infrastructure remains limited.
Chief Executive Officer, Osayande Igiehon, said the company is integrating its energy operations with long-term socio-economic impact initiatives.
“Sustainable energy development must be matched by sustained investment in people and enterprise,” Igiehon said. “Our partnership with the Tony Elumelu Foundation reflects a deliberate effort to expand opportunity while strengthening the communities in which we operate.”
Through the partnership, Heirs Energies has supported 1,000 entrepreneurs in 2025 and is backing an additional 1,000 entrepreneurs in 2026.
- In 2025, about 40% of beneficiaries were from the Niger Delta, including over 150 entrepreneurs from Rivers State.
- In 2026, 50% of beneficiaries are drawn from the Niger Delta, indicating increased regional focus.
- Women account for 48% of total beneficiaries, reflecting a push toward gender-inclusive entrepreneurship.
The programme combines seed capital, mentorship, and business training, helping early-stage entrepreneurs scale operations and create jobs.
Beyond entrepreneurship support, Heirs Energies continues to implement community-focused development initiatives in its operational areas, particularly within OML 17 in the Niger Delta.
The company reports that it has:
- Empowered over 500 youths through skills acquisition and enterprise programmes
- Supported more than 1,621 students through educational grants
- Reached over 18,000 people through medical outreach initiatives
- Delivered more than 135 community infrastructure projects, with additional projects underway
In addition, the company supplies gas into Nigeria’s domestic energy network, enabling over 350 megawatts (MW) of electricity generation, supporting households, businesses, and industrial activity.
Across Africa, youth unemployment and limited access to financing continue to constrain business growth despite increasing entrepreneurial activity. Initiatives such as the Tony Elumelu Foundation programme play a critical role in bridging this gap by combining funding with mentorship and capacity development.
The continued collaboration between Heirs Energies and TEF highlights a growing trend of private sector investment in entrepreneurship as a pathway to economic diversification and inclusive growth in Africa.
