Chairman of United Bank of Africa (UBA) and Heirs Holdings, Tony Elumelu, has opened up on his rumoured ambition to contest for president.

Elumelu revealed that while he is frustrated with Nigeria’s past leaders, he believes not everyone needs to be president to make a difference.

He made the disclosure in an interview with the Financial Times, published on Friday.

When asked directly if he would run for president, the 61-year-old business mogul laughed and said, “People ask me this question. All of us don’t have to be president, but what we all want is good leadership. We will coalesce around people we believe are providing good leadership.”

The businessman enjoys a close relationship with incumbent President Bola Tinubu, who is expected to seek re-election in 2027.

Elumelu was recently appointed to Tinubu’s economic team.