AfDB PRESIDENT ADESINA STEPS DOWN SEPTEMBER 1, HAILS NIGERIA’S SUPPORT, AGRICULTURAL ADVANCES
Read Time:2 Minute, 32 Second
By: Sefiu Ajape
President of the African Development Bank, Dr. Akinwumi Adesina, has announced that his tenure will end on September 1, 2025, marking the close of a decade of impactful leadership, reforms, and record-breaking growth at the helm of the continent’s top financial institution.
Speaking on Saturday at the groundbreaking of the Oyo State Special Agro-Industrial Processing Zone in Atan-Ijaye, Akinyele LGA, Dr. Adesina disclosed that the event would be his final official visit to Nigeria in his current role.
“This is actually my last time that I will be in Nigeria as President of the African Development Bank. My term comes to an end exactly at 8:00 a.m. on September 1, 2025,” he stated.
Looking back on his tenure, Adesina said it had been “an honour to serve Africa and to use that as an instrument to serve my country, Nigeria.”
He expressed appreciation to President Bola Tinubu, Vice President Kashim Shettima, and other national stakeholders for their strong support throughout his leadership.
“In 2015, when I took over as president of the bank, its capital stood at $93 billion. Today, it is $318 billion,” he said.
He credited the bank’s success to “good governance, transparency, and accountability,” adding that the AfDB is now ranked the world’s best multilateral financial institution and “the most transparent, scoring 78% on the transparency index.”
Dr. Adesina also thanked Nigeria — including the National Assembly, state governors, private sector players, and citizens — for their pivotal role in the institution’s accomplishments.
Agriculture is the Backbone of Economic Transformation — Adesina
Earlier in his speech, Adesina lauded Governor Seyi Makinde for reviving the Fashola Farm Settlement, which has now attracted over ₦11 billion in investments.
“Governor Makinde is an exemplary leader. He has revived Fashola and turned it into a magnet for agribusiness,”he said.
He reaffirmed his belief that agriculture remains the “backbone of transformation and national security,” and emphasised the importance of Special Agro-Industrial Processing Zones (SAPZs) in connecting farmers to processors and markets.
“The goal of SAPZ is to reduce post-harvest losses, strengthen value chains, and create jobs,” he said, noting that 28 SAPZs are already active in 11 African countries.
According to him, “AfDB has invested $30 million, with an additional $38 million mobilised from development partners.”
He stressed the need for value addition in agriculture:
“If you want to remain poor, export raw materials. But if you want to be rich, add value. That’s the key to transforming economies,” Adesina said.
He expressed fulfillment that the SAPZ initiative — which he started as Nigeria’s Minister of Agriculture 15 years ago — is now being fully implemented.
He also revealed that Phase II of the programme will launch in September and commended the Minister of Agriculture, Abubakar Kyari, for sustaining the vision.
“Some people told him to abandon it because it was ‘Adesina’s project,’ but he rightly said, ‘This is Nigeria’s project’, and the SAPZ in Atan-Ijaye will uplift the community and beyond,” Adesina added.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0