Tag: Adesina

  • Conflict of interest hinders implementation of AfDB’s anti-corruption fund – Adesina

    Conflict of interest hinders implementation of AfDB’s anti-corruption fund – Adesina

    The African Development Bank (AfDB) President, Akinwumi Adesina, says conflict of interest is hindering implementation of the bank’s anti-corruption fund.

    Adesina, in an interview, said the bank established an anti-corruption fund of about 55 million dollars seven years ago, which had yet to be tapped into.

    “The point is, we have the funds. However, when implementing that fund, we found that there were conflicts of interest on how the fund was set up.

    “As president of the bank, I will not mingle with the bank’s funds.

    “And we said, no, we cannot do that. We need to find a way to give that to third parties. The money is there, and the money is going to third parties.

    “And just so you know, the AfDB was ranked in 2023 as the most transparent institution in the world,’’ he said.

    Read Also: Adesina cautions against Africa’s $824 billion debt burden

    Adesina restated that the bank had an independent anti-corruption unit that sanctions companies with non-competitive behaviour.

    According to him, corruption is not unique to Africa, and there is no doubt about the need for improved governance, transparency, and accountability anywhere in the world.

    He said to curb the challenge of corruption, the bank established a programme called SEGA, which centred on economic governance in Africa.

    “It has to do with public financial management. It has to do with debt management. It has to do with reducing illicit capital flows.

    “Now, I agree with you. Today, we have illicit capital flows out of Africa, which amounts to about 89 billion dollars annually. Sometimes, it is like pouring water into a basket, It needs to be able to hold it.

    “But this much I will say, even as I agree with all of that, corruption is not unique to Africa,’’ he said. (NAN)

  • Day I climbed Tafawa Balewa Square’s tall steelgates just to see Awo –AfDB President Adesina

    Day I climbed Tafawa Balewa Square’s tall steelgates just to see Awo –AfDB President Adesina

    • Says Nigeria missed best opportunity in ‘President Awolowo’

    March 6, 2024 is a date that will linger in the memories of the President, African Development Bank Group, Dr. Akinwumi Adesina. Being awarded the Obafemi Awolowo Prize for Leadership is a feat he would cherish for life, going by how highly he revered the enigmatic politician who bestrode the nation’s political landscape for decades as the Premier of the Western Region in the First Republic and leader of the opposition Unity Party of Nigeria (UPN) in the Second Republic.

    The ADB boss admitted that much in the address he delivered as a special guest on the occasion as he expressed his “deepest appreciation and gratitude” to the Obafemi Awolowo Foundation for selecting him to receive the “distinguished award”.

    He said: “My special thanks go to Ambassador Dosumu-Awolowo, Executive Director, Obafemi Awolowo Foundation; the Chair of the Obafemi Awolowo Foundation, former Head of State General H.E. Yakubu Gowon, as well as the Chairman of the Selection Committee, Obafemi Awolowo Prize for Leadership, and H.E. Chief Emeka Anyaoku, former Secretary General of the Commonwealth, and members of the Technical Committee for the Prize.

    “My immense gratitude goes to H.E. Dr. Goodluck Jonathan, GCFR, former President of the Federal Republic of Nigeria, who nominated me for the Prize. He was my boss as President of the Federal Republic of Nigeria, and it was my greatest honour to serve Nigeria under him as Minister of Agriculture and Rural Development.

    “My immense appreciation also goes to several global leaders who supported my nomination, including the former Secretary General of the United Nations, Ban Ki-moon; Rt. Honorable Tony Blair, former Prime Minister of the United Kingdom; Ambassador Kenneth Quinn, former United States Ambassador to Vietnam and President Emeritus of the World Food Prize Foundation; Professor Soji Adelaja, Distinguished Professor of Land Policy, Michigan State University, USA; and Professor Patrick Verkooijen, Chief Executive Officer, Global Centre on Adaptation.”

    Noting that the conferment of the award coincided with what would have marked Chief Awolowo’s 115th birthday and 37 years since his passing, he prayed the erudite politician’s soul to continue to rest in peace, “even as we draw inspiring lessons from his life, policies and philosophy”.

    He then underlined how highly he regarded the Obafemi Awolowo Prize for Leadership in spite of the multiple global awards in his kitty, for which he is very grateful.

    He said: “I have received several global awards for which I am very grateful. Receiving the Awolowo Prize for Leadership is particularly very special. That’s because it brings back so many personal memories.

    “Growing up in the old Western Region of Nigeria in the 1960s, only one name was synonymous with people-centered development: Awolowo. We lived in the same community as the sage in Okebola, Ibadan.

    As a young child, passing by the frontage of his house was a favourite pastime. I remember peering over its low walls to see if I could just catch a glimpse of the man who transformed the lives of millions in the then Western Region.

    “My father was enamored by Chief Awolowo. He devoured his books, writings and articles. The name ‘Awolowo’ was a constant guidepost for every discussion in our home.

    “So much was the admiration that when I was 19 years old and Chief Awolowo ran for President under the Unity Party of Nigeria in 1979, myself and a close friend desperately wanted to simply catch a glimpse of him.

    “When we arrived at the Tafawa Balewa Square in Lagos, the stands and the grounds were packed to capacity. The gates were locked. But we were absolutely undeterred.

    “We had travelled all the way from Ife and would not be denied. So, we climbed the tall steel gates of the square; an unbelievable height when I look at it today.

    “Once we scaled through, we ran up close to the stage where he was speaking from and proudly stood just one arms length from him and his dear wife, Mama Hannah Dideolu Awolowo.“Just a glimpse was enough. We listened with rapt attention to the exposition of his plans for Nigeria. We were mesmerized. Like a fragrance, his words took our breath away.

    “We could smell hope in the air. Hope that Nigeria would be great. Hope that education would be free at all levels. Hope that there would be health for all. Hope that the remarkable transformation witnessed in the Western region of Nigeria, in education, agriculture, health, and infrastructure, undergirded by a highly professional and disciplined civil service, would soon take hold in Nigeria.

    “Like the refrains of an orchestra, the sounds of Awo, Awo, filled the air, as our hopes were raised. We could see a new Nigeria. Alas, this was not to be.

    “Nigeria missed its best opportunity to be great under a ‘President’ Awolowo. Chief Emeka Ojukwu said of him ‘the best President that Nigeria never had.’

    “Let me say clearly: Chief Awolowo was bigger than Nigeria. He was the pacesetter and forerunner for development in Africa.

    “His intellectual capacity, vision, pragmatic social welfarism helped him accomplish what was seemingly unimaginable at the time.

    “He built the first skyscraper in Africa – the Cocoa House. He built the first television station in Africa, WNTV. He built the Liberty Stadium, the first of its kind in Africa.

    “He implemented a blueprint for development that focused on building human capacity through massive programmes to educate the people, develop skills, lift people out of poverty, provide massive rural infrastructure, and develop institutions that turned farmers into wealthy entrepreneurs.

    “I dare say that Chief Awolowo implemented the sustainable development goals decades long before the phrase was coined. He was an inspiration for Africa, far beyond the shores of Nigeria.

    Read Also: AFDB President Adesina proposes new name for Nigeria

    “His philosophy, “Awoism”, was studied globally and helped shape programmes and policies in other countries.”

    In his lecture titled ‘Making a New Nigeria: Welfarist Policies and People-Centered Development’, Adesina recalled that from his early days, he was influenced by the same drive as Chief Awolowo.

    He said: “I promised myself then that if I ever got into any public position, I would run welfarist and people-centric policies.

    “My heartbeat has always been about people; nothing more, nothing less. My life is only as useful to the extent that it is used of God to do my utmost to transform the lives of people.“Awo inspired me. Decades ago, the perfume of building hope rubbed off on me. It’s a fragrance that still lingers today.

    “So, as I stand before you to receive the Obafemi Awolowo Prize for Leadership, I am humbled, inspired and motivated. I feel a new sense of responsibility.

    “I am reminded today of the words of Martin Luther King Jnr, ‘History has thrust upon me a responsibility from which I cannot turn away’.

    “Yes, I have a dream of a better and prosperous Nigeria. Yes, I have a dream of a globally respected Africa. Yes, I have a dream that Africa will not be condemned to the bottom rungs of the global economic ladder.

    “I refuse to accept poverty’s imprint on Africa. I still believe that Nigeria will rise again. I still believe that Africa will shine and fulfill destiny. I still believe that we shall be who we are meant to be.

    “Today, I accept this prize as a trustee of hope for millions of our people.

    “You bestow upon me this honor at a momentous period of great global challenges, from rising debt, climate change, fragilities and vulnerabilities.

    “Your honour is a call to do more amid these challenges. So, I celebrate with measure, as I know with all humility the work of making Nigeria great, and by implication making Africa great, is still in progress.

    “It is my lifelong mission to do all I can to improve the lives of all Africans. The wind of challenges may sometimes shift us away from our destined path, albeit momentarily, but we shall overcome our challenges.

    “Nigeria must dream. Africa must dream. Yes, we may have challenges, yet all I see tells me we will get there.

     “We must start by unleashing our full potential, while managing our challenges. We must make poverty history in Nigeria. We must make poverty history in Africa.

    “We must deliver a better Nigeria, and a better Africa, for this generation and generations to come.”

    The ADB boss noted that given the high level of poverty in Africa and Nigeria, what is needed are welfarist policies that “exponentially expand opportunities for all, reduce inequalities, improve the quality of life of people.

    “These must be anchored on public-centric policies and private sector wealth creation for all.”

    In this respect, he said, the focus should be on five areas.

    “First, rural economic transformation and food security. Second, health care security for all. Third, education for all. Fourth, access to affordable housing for all. Fifth, government accountability and fiscal decentralization for a true federalism.

    “First, Nigeria must completely transform its rural economies to ensure food security for all.

    “A better Africa must start with the transformation of rural economies. That is because some 70% of the population lives there. Rural poverty is extremely high.

    “At the heart of transforming rural economies is agriculture, the main source of livelihoods.

    “When agriculture moves away from being a way of life to a business, everything changes. Higher incomes and wages from agribusinesses will support education and health, and spur even greater job creation for millions of youths.

    “As a young student who attended high school in the village, I witnessed the high correlation of agricultural performance with education. Several of my classmates were children of farmers.

    “I noticed then that when the agricultural season was good, they stayed in school and performed well. But when the season was poor, several dropped out or attended intermittently.

    “The decision by Chief Awolowo to start with the transformation of the rural economy was a very sound policy.

    “The establishment of farm estates, and the expansion of rural roads, supported by professionally run marketing boards helped stabilise the prices of farm produce.

    “It is worth noting that the prudent fiscal management of the cocoa revenues powered the economies of the states that then constituted the Western Region.

    “These revenues allowed the government to embark on an unprecedented idea – free education and free basic health care services.

    “It was common then to hear the phrase Agbe loba (farmers are kings), uttered with great pride.

    “We must give new life to our rural areas. If Chief Awolowo could do this in the 1960s, there is no reason why rural economies today should be immersed in extreme poverty.

    “Clearly, rural economies have been abandoned by politicians, planning and policies. Today, they have become zones of economic misery. The pauperization of rural economies is what is causing the implosion of many countries across Africa.

    “When rural economies (the fulcrum of the African society) falter, nations falter. This leads to the spread of anarchy, banditry, and terrorism.

    “This troika of social disruption takes advantage of the economic misery to entrench themselves. The transformation of rural economies must therefore be structural, systemic, strategic and comprehensive.

    “Doing so, means agriculture must be turned into a wealth creating sector. I aggressively pursued this philosophy when I served as minister of agriculture and rural development of Nigeria from 2011-2015.

    “Many call this period the “farm revolution” years, as Nigeria witnessed an impressive transformation of its agricultural sector.

    “With farmer-centric policies, we delivered improved seeds and fertilizers for 15 million farmers. We delivered millions of cocoa seedlings across southern Nigeria.

    “We delivered a cotton transformation across the north. We provided millions of oil palm seedlings to farm estates, including small farmers and large farm estates across the East, South and West.

    “We accelerated the delivery of improved rice seeds across Nigeria and sparked a rice revolution that transformed several regions across Nigeria.

    “Sound public policies transform the lives of people. I fondly remember one of my farm trips in the company of the then Governor of Kebbi State, H.E. Usman Dakingari.

    “Amazed by the revolution happening, I recall him saying, “Minister, thank you, we no longer measure our rice yields in hectares of land, but in kilometres.”

    Rural economies boomed. Local well packaged rice took over the market. The price of rice at the time was N6,000 per bag, which helped to stem food price inflation.

    “Unfortunately, today, that same bag of rice, just nine years later, is N77,000 per bag. That 12-fold price increase unfortunately puts rice, a basic staple, beyond the reach of millions of people.

    In several parts of Africa today, farm revolutions are happening at scale, with the support of the African Development Bank.

    “Over the last seven years, we have invested over $8.5 billion in agriculture, which has impacted 250 million people.”

  • Nigeria will get better, things will be fine – Adesina

    Nigeria will get better, things will be fine – Adesina

    Former Special Adviser to ex-President Muhammadu Buhari on Media and Publicity, Mr Femi Adesina, says Nigerians must do their best to ensure the country works.

    Adesina, immediate-past presidential spokesperson, who made this remark in an interview with the News Agency of Nigeria (NAN) in Lagos, assured that Nigeria would get things right and the country will  get better.

    He spoke on the sidelines of the presentation of “Anything and Everything Journalism” and “My Story of Many Colours”,  books written by the publisher of Yes International Magazine, Mr Azuh Arinze, in Lagos on Monday.

    Adesina, a veteran Nigerian journalist, said: “My message to Nigeria at this time is just to hold the fort, this place is going to get better.

    “It is our country, we don’t have another one. So we must ensure that it works because no matter where we go, we will not be first class citizens.

    “Nigeria will get it right, we will get there.”

    Read Also: Path to economic growth, quality living standard, by Adesina

    He said that all hands must be on the deck for the country to make progress and get things right

    “So, let us support the government, let us pray for the government and have good will towards the government and everything is good, to get better and right,” Adesina added.

    He encouraged  journalists to write books while also urging media practitioners to strictly adhere to the ethical standards of the profession.

    NAN reports that the presentation of the books was done by Chief Bimbo Ashiru, Chairman Odu’a Investment Company.

    The event was attended by  publishers, veteran media practitioners like Dele Momodu, Publisher of Ovation Magazine; Bisi Olatilo, Chairman, Biscon Communications and many others.

    (NAN)

  • Path to economic growth, quality living standard, by Adesina

    Path to economic growth, quality living standard, by Adesina

    For Nigeria to rise from its current challenges, people-focused and public-centric policies as well as private sector wealth creation are vital.

    This was the position of President of the African Development Bank and winner of the 2023 Obafemi Awolowo Prize for Leadership, Dr Akinwumi Adesina, in his lecture at the award prize ceremony on March 6 in Lagos. The lecture was entitled: “Making a new Nigeria: Welfarist policies and people-centered development.”

    Adesina  highlighted five vital  areas of focus, rural economic transformation and food security; health care security; education for all, access to affordable housing and government accountability and fiscal decentralisation for a true federalism,which he said were crucial to the transformation of the nation.

    The AfDB boss noted that Nigeria must completely transform its rural economies  to ensure food security for all.

    “A  better Nigeria and Africa must start with the transformation of rural economies. That is because some 70 per cent of the population live there. Rural poverty is extremely high. At the  heart of transforming rural economies is agriculture, the main source of livelihoods.

    When agriculture moves away from being a way of life to a business everything changes. Higher incomes and wages from agribusinesses will support education and health, and spur even greater job creation for millions of youths,” he said.

    He hailed the decision of the late  Chief  Obafemi Awolowo in the 60s to start with the transformation of the rural economy as  a very sound policy.

    He noted that establishment of farm estates, and the expansion of rural roads, supported by professionally run marketing boards helped stabilise the prices of farm produce.

    Adesina said: “It  is worth noting that the prudent fiscal management of the cocoa revenues powered the economies of the states that then constituted the Western Region. These revenues allowed the government to embark on an unprecedented

    idea – free education and free basic health care services. It was common then to hear the phrase “Agbe lo ba” (farmers are kings), uttered with great pride. We must give new life to our rural areas.”

    He bemoaned the abandonment of rural economies and their immersion in extreme poverty, adding that they have become zones of economic misery. The former minister of agriculture and rural development, said the  pauperisation of rural economies is what is causing the implosion of many countries across Africa.

    “When rural economies (the fulcrum of the African society) falter, nations falter. This leads to the spread of anarchy, banditry, and terrorism. This troika of social disruption takes advantage of the economic misery to entrench themselves,” he added.

    Adesina called for the transformation of rural economies which must be structural, systemic, strategic and comprehensive. Doing this, according to him, means agriculture must be turned into a wealth creating sector.

    He recalled how he pursued the philosophy and the witnessed an unprecedented transformation of the agricultural sector.

    He said  over the last seven years, the AfDB had invested over $8.5 billion in agriculture, which has impacted 250 million people.

    “At the core of the Africa-wide strategy to revamp rural economies and turn them into zones of economic prosperity is the development of special agro- industrial processing zones across the continent.

    These zones are being provided with critical supportive infrastructure, including water, roads, processing infrastructure and logistics. The African Development Bank and its partners are providing $1.4 billion for the development of 25 of Special Agro-Industrial Processing Zones in eleven countries.

    Right here in Nigeria, we are developing these zones in 8 states with $518 million. The second phase of the programme in Nigeria, which will cover 23 more states, will be financed with $1 billion. The Bank and partners recently launched a $3 billion Alliance for Special Agro-Industrial Processing Zones,” he said.

    Adesina stressed the significance of a sound health care system, saying smart governments provide universal basic health coverage for their citizens.

    He said Africa loses $2.6 trillion annually in productivity, adding that a nation without a sound health care system  is defenseless against the invasion of all forms of disease or epidemics.

    “Covid-19 exposed the weakness of Africa’s health systems. While developed economies spent $19 trillion in fiscal stimulus programmes, approximately 19 per cent of the world’s GDP, Africa spent only $89 billion. Africa’s urgent need for basic vaccines was pushed to the bottom of global vaccines supply chains. At a time when Africa was unable to provide one basic shot of vaccine, developed countries were providing second, third and more booster shots.

    “It  was alarming watching an unprotected Africa grapple with this insidious virus. Some even projected that as many as 3 million Africans would die from the pandemic. Africa had just two testing centers, no medical gloves, no face masks, no medications, no vaccines. The African Development Bank immediately put in place a $10 billion facility to support African countries in their fight against the pandemic,” he said.

    The Awolowo Prize Leadership Award winner noted that it is imperative that Nigeria secures the health of all its population. This, he said, will require ensuring that no citizen travels more than a few kilometers to find a health care centre.

    Adesina added that the widespread use of mobile health centres, e-health facilities, the

    digitalisation of health systems, especially in all primary health care centres, health insurance policies for all, including innovative micro-health insurance pay-

    as-you-go systems, will capture the bulk of the population that is in the informal sector.

    “What is not acceptable or sustainable is an Africa that imports 70-80 per cent of its medicines and produces just 1% of its vaccines.. The health security of Africa’s 1.4  billion people cannot be subjugated to global supply chains or the generosity of others.

    That’s why the African Development Bank also launched a $3 billion programme to revamp Africa’s pharmaceutical industries and why it established the

    African Pharmaceutical Technology Foundation to support access to proprietary technologies from global pharmaceutical companies.

    The Bank also launched another $3 billion programme to develop quality health infrastructure across the continent, with special emphasis on primary health care

    systems, which if well fixed can assure basic health care for hundreds of millions of people.

    We will continue to invest heavily in Nigeria to support its pharmaceutical industry and develop better health infrastructure,” he said.

    While underscoring the   significance of education to national development, the AfDB boss lamented that only 1 per cent of the nation’s population is enrolled in the university.

    “With only 1% of the population enrolled, Nigeria is currently not educating enough of its people at the university level. The poor funding of universities, a lack of basic infrastructure, poor incentives for faculty and staff, and incessant strikes due to wage disputes, have almost crippled the university system.

    “Urgent public policies, coupled with community sensitisation and incentives for schooling are needed, if this trend is to be reversed. Public incentives such as free and  compulsory primary and secondary education should be put in place, along with massive investments in training and better salaries for teachers, building quality and safe classrooms, and school feeding programmes,” he said.

    He decried the  mass exodus of students which he said could not be   compared to those of skilled professionals.

    Adesina said Nigeria is witnessing a massive depletion of its human capital which  will slow down economic growth, performance and overall development and competitiveness of the economy.

    He said  developed nations  do all they can to keep their best human capital at home, and additionally source skills from elsewhere with flexible immigration and

    labour policies. He noted that Nigeria must be made a viable place for people to stay, and not a place to run away from.

    Read Also: Tinubu congratulates AfDB president, Adesina for winning Awolowo prize for leadership

    On addressing housing deficit, the former minister of agriculture and rural development said: “Nigeria needs housing for all.

    A better quality of life requires access to decent and affordable housing for all. In  Africa, several governments stand and watch undeterred and unflinching as millions of their citizens  live in slums. Today over 65% of people in sub-Saharan Africa live in slums. 

    In Nigeria, 49 per cent of the population live in slums, according to data by UN- Habitat. That is a staggering 102 million people. These trends need to change, rapidly.

    “Welfarist policies are urgently needed to ensure that 100 per cent  of citizens have access to basic and affordable housing. The opprobrious policies that seek to  upgrade slums should be jettisoned. There is nothing like a 5-Star Slum: a slum is a

    slum. Urgent actions are needed to support mortgage financing and re-financing and use of innovative financing structures to raise long-term capital for closing the housing deficits.”

    On government accountability and  fiscal decentralisation for a true federalism, Adesina said there is a greater need for e-governance systems to

    enhance transparency and accountability of governments in service of the people.

    “That is what people-centred governance is all about.

    That is why the African Development Bank is developing a public service delivery index that will rate governments on the quality-of-service delivery for citizens.

    Development clearly requires a significant amount of financing, which governments need to raise. A primary tool for doing so is through taxation. The

    rationale for raising taxes in Nigeria is that the nation’s tax-to-GDP ratio is low compared to other African or non-African countries. However, taxation in the

    absence of a social contract between governments and citizens is simply fiscal extortion.

    “Nigerians pay one of the highest implicit tax rates in the world. Most of the citizens provide electricity for themselves via generators; they repair roads in their neighbourhoods if they can afford to. They provide boreholes for drinking water with their own monies. In the 21 Century, this is incredulous as

    every household should have pipe borne water.

    “Sadly, the abnormal has been normalized.

    If people pay taxes, governments must deliver services to citizens and be held accountable for their ability to do so or not. Governments should not transfer

    their responsibility to citizens.

    “Governments must show concrete and transparent evidence of fiscal responsibility. Governments without citizen accountability become synonyms for democratic dictatorship.

    “Citizen accountability forums are needed in order to have a say in how their nation’s resources are being used and how their governments are performing.

    “When governments or institutions fail to provide basic services, the people bear the burden of a heavy implicit tax. To succeed with much needed welfarist and people-centered policies across Nigeria, it is necessary to change the governance system and decentralise

    governance to states in order to provide greater autonomy,” he said.

  • Adesina versus Abati

    Adesina versus Abati

    In his new book Working with Buhari, Femi Adesina revealed something few knew when Buhari was in office. In a meeting with Igbo elders, the former president said his government had the wherewithal and opportunities to eliminate Nnamdi Kanu in his different domiciles around the world where he howled and swore. According to the book, his government chose to spare him. At a book event last week, organized by CORA BookTrek at the RovingHeights Bookshop in Lagos, Adesina said he decided not to reveal the content because of its sensitivity. I thought he should have because it reflected a thoughtful and restrained president against a rabblerouser. The other point in the book was his rejoinder to Reuben Abati’s tearful essay about disease and impotence in Aso Villa. Adesina denies all that. For Abati’s successor, it was the villa of sap and vitality. My take? Maybe the spirit was not that of Pentecost or that of Beelzebub, but the peculiar spirit that comes out of the bottle. I learned they consulted that spirit a lot in the Jonathan years. Adesina confessed he was not going to engage the policies of the Buhari years. I said he had written columns on a variety of serious policies, and he could not be shying away from them out of lack of personal rigour or opinion. He confessed he was keeping his views to himself. It must be that he did not agree with some of those actions of his boss and he decided to keep mum until, as he suggests, 20 years from now. Hmm!

    Read Also: Naira redesign, ‘Emilokan’ speech, excerpts from Femi Adesina’s ‘Working with Buhari’

    If Femi wanted to impress us with his boss’ ascetic carriage and personal integrity, I noted that, as a leader, his rectitude was of no use to all of us if it made him good and the society bad. He was not elected to advertise his sanctity. His spirited defence of Buhari only showed the knotty task of an image maker, especially if he is a Muhammadu Buhari.

  • BREAKING: Tinubu, Buhari, Aisha, Gowon unveil Adesina’s book, others

    BREAKING: Tinubu, Buhari, Aisha, Gowon unveil Adesina’s book, others

    President Bola Tinubu, former President Muhammadu Buhari and his wife, Aisha and former Head of State, Genral Yakubu Gowon, among others, on Tuesday, January 16, officially unveiled a book titled: “Working with Buhari (2015 – 2023)” in Abuja.

    Also presented was a five volume book on “Muhammadu Buhari: The Nigerian Legacy – 2015 – 2023 (Vols 1-5), edited by Dr Udu Yakubu.

    The book was reviewed by the Director General of the Nigerian Institute of International Affairs, Professor Eghosa Osaghae and a Professor of Political Science, Kabiru Mayo. 

    The book “Working with Buhari” was written by a former Special Adviser on Media and Publicity to President Buhari, Femi Adesina.

    The book was reviewed by a former CNN Journalist of the Year, Shola Oshunkeye.

    The launch was chaired by former Head of State, General Yakubu Gowon and co-chaired by General IBM Haruna.

    Read Also: BREAKING: Shettima, southwest governors storm Ibadan for Akande at 85

    The launch was attended by a Creame de’la  Creame of the society and top political office holders including a former Head of State, General Yakubu Gowon, General IBM Haruna, former Vice President Prof. Yemi Osinbajo, Senate President Godswill Akpabio, Speaker Tajudeen Abass, former Senate President Ahmad Lawan, National Chairman of the All Progressives (APC), Abdullahi Ganduje and Chief of Staff to the President, Femi Gbajabiamila.

    Others are the Inspector of Police, Kayode Egbetokun, former Minister of Labour, Employment and Productivity, Dr. Chris Ngige, former Governor of Kaduna State, Mallam Nasir El-rufai, Alhaji Mohammed Indimi, former Minister of the FCT, Mallam Mohammad Sani Bello, former Minister of Aviation Hadi Sirika, former Minister of Information, Culture and National Orientation, Lai Mohammed, Minister of Solid Minerals Development, Dele Alake, Minister of Steel Development, Prince Sanusi Audu, former Minister of Works and Housing, Raji Fashola SAN.

    Also at the launch were Governor Ademola Adeleke of Osun State and Governor Dikko Radda of Katsina State.

    Details shortly… 

  • Adesina hosts Tinubu, Buhari, Gowon at book launch

    Adesina hosts Tinubu, Buhari, Gowon at book launch

    Gurus in the media industry will converge on Abuja next Tuesday for the launch of a book, Working with Buhari: Reflections of a Special Adviser, Media and Publicity, (2015-2023), written by Femi Adesina, former Special Adviser on Media and Publicity to the immediate past President. 

     The event, which will hold at the Transcorp Hilton, Abuja, will also have former President Muhammadu Buhari and President Ahmed Tinubu in attendance.

    Tinubu is expected to be the Special Guest of Honour.

    Read Also: Femi Adesina and Buhari’s regrets

    Also expected at the event is former Head of State and chairman of the occasion, General Yakubu Gowon, while the co-chairman will be General I. B. M. Haruna, among other dignitaries.

    According to the Planning Committee Chairman, Malam Garba Deen Muhammad, a royal delegation from Saudi Arabia, led by Prince Abdulaziz Bin Faisal Al Saud, is expected to attend the book launch while billionaire businessman, Alhaji Mohammed Indimi, is chief launcher.

    He said: “The book will provide insight unlikely to be found anywhere else; because Femi will be telling his story from a morally strong position. Those who know Femi are very familiar with his unwavering loyalty to his principal, former president  Buhari. The book will reveal Femi’s motivation; why Buhari was, is, and will likely remain his hero. It is, in one sentence, a study in loyalty.’’

    The book, published by Safari Books, is a memoir of Adesina’s eight years in office as special adviser to Buhari on Media and Publicity.   

  • $15.5b boost for Abidjan-Lagos highway at AIF 2022, says Adesina

    $15.5b boost for Abidjan-Lagos highway at AIF 2022, says Adesina

    President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has said the Abidjan-Lagos highway corridor had secured a $15.5 billion investment interest.

    Adesina announced this while welcoming participants at this year’s Africa Investment Forum (AIF) Market Days with the theme: Unlocking Africa’s Value Chains, yesterday in Marrakech, Morocco.

    Adesina said the corridor would transform the entire West African region and speed up regional integration, sustainable economic development and trade.

    “In 2022, investment interests were secured for $3.6 billion for the East Africa Railway Corridor, linking Tanzania, Democratic Republic of Congo, and Burundi.

    “We are delighted that the AIF has so far closed on deals’ investment gaps worth $11 billion. This ranges from liquefied natural gas (LNG), renewable energy, agribusiness, industrial manufacturing, creative industry, housing, and transport.

    “It is time again for investment action, it is time to do it again,” he said.

    According to the AfDB president, African economies provide some of the best investment opportunities in the world.

    He said: “As investors, put your money where the future is. The future is in Africa, and investors should see Africa not from what they hear but from what the facts say.

    “Moody’s Analytics shows Africa’s default rate is the lowest in the world with 2.1 per cent, compared to Eastern Europe with well over 10 per cent; and Asia with well over 8 per cent.

    “Africa is not as risky as you perceive. Private equity and venture capital in Africa soared year over year to $7.70 billion.

    “The number of deals increased from 211 in 2018 to 404 in 2022, an increase of 91per cent.

    “The total transaction value expanded from $4.65 billion in 2018 to $7.70 billion in 2022, an increase of 66 per cent. Invest in Africa and reap high risk-adjusted returns,” Adesina said.

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    The King of Morocco, His Majesty King Mohammed VI, said the Morroco-Nigeria gas pipeline project was part of the country’s endeavour to achieve regional economic integration and cross-border development of communities.

    “This project will enable all countries along the pipeline route to have access to reliable energy supplies.

    “I welcome the interest expressed by bilateral and multilateral partners in this project and, in particular, regional and international financial institutions.

    “To provide effective support for the implantation of this strategic project,” he added.

    The News Agency of Nigeria (NAN) reports that AIF is the place where bankable projects in Africa meet with investors; investors meet with Heads of State and Governments in investment board rooms.

    It is also where comfort is given to investments, where risks are managed and where deals are closed.

    AIF, founded in 2018, is a multi-stakeholder platform that has become the continent’s premier investment platform. It is a flagship initiative of the AfDB, Islamic Development Bank.

    It has European Development Bank, Afreximbank, Trade and Development Bank, Development Bank of Southern Africa, Africa Finance Cooperation, Africa 50 as its Founding Partners.

  • How I was able to manage Buhari, by Adesina 

    How I was able to manage Buhari, by Adesina 

    The former Special Adviser on Media and Publicity to ex-President Muhammadu Buhari, Mr. Femi Adesina, has said he succeeded in his job because his principal was only interested in telling Nigerians the truth about any issue.

    The former presidential spokesman challenged anyone who could prove that either himself or the erstwhile Information and Culture Minister Lai Mohammed lied about any issue.

    Addressing reporters yesterday at the NUJ Press Centre in Osogbo, the Osun State capital, at a media dialogue organised by the state’s chapter of Association of Veteran Journalists, Adesina said: “Buhari just wanted us to tell the truth.

    “So, it was not difficult to market him. Every information I issued in eight years of Buhari was the truth. I never coloured anything. I can defend all the statements I issued. Buhari is as straight as an arrow. He doesn’t lie. That made it very easy to sell him. 

    “A lot of people will say Lai Mohammed was lying to Nigerians. I challenge them that they should give me one lie that he has told, and they will look like fools. Mention one lie he has told.”

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    The former presidential spokesman also said he earned far below his salary as an editor than he was paid in government.

    “I went to work in government. I was paid one-third of the salary I was earning as the Managing Director of The Sun Newspapers when I served under Buhari for eight years.

    “One day, the publisher of The Sun called me and asked about my salary as the appointee of the President, and I told him. He almost fell down from where he sat. I told him that I went there to serve.

    “He told me that he had instructed them at The Sun to pay me N1 million per month to support my earnings at the Presidency, I thought about it with my wife and I decided not to accept it. I rejected it. I was earning next to nothing as salary as I served Buhari for eight years.” 

    Adesina also said the Buhari administration fought corruption in its eight years.

    “Buhari will not shield anybody that is corrupt. Look at the number of convictions we had between 2011 and 2015 compared with 2015 to 2023. It is almost times five,” he said.

  • Africa leading market frontier with huge untapped potential – Adesina

    Africa leading market frontier with huge untapped potential – Adesina

     African Development Bank (AfDB) President, Akinwumi Adesina has called on Korean investors to seize untapped investment opportunities in Africa, especially in the energy and agriculture sectors.

    Adesina, in a statement  on the Bank’s website said the Africa continent could not be ignored by investors.

    He spoke at a business forum attended by CEOs of Korean corporations, heads of financial institutions and ministers and business leaders from Africa.

    The business forum was held during the 7th Korea-Africa Economic Cooperation Ministerial Conference, held in Korea’s second-largest city, Busan.

    Adesina highlighted the potentials for Africa to become a leading market frontier, boasting enormous potential in agriculture and renewable energy sources.

    The bank chief assured the Korean investors that Africa was not as risky as reported, adding that It was a continent of opportunities, waiting to be tapped.

    He cited Moody’s analysis of global infrastructure default rates which showed that Africa ranked better at 5.5 per cent, compared with 8.5per cent in Asia and 13per cent in Latin America.

    Adesina observed that bilateral trade between Korea and Africa was important and growing, but said its volume needed to be improved.

    He said Korea’s trade with Africa in terms of exports and imports stood at only two per cent of its total trade with the world.

    He said this must change given the huge economic opportunities and investment potential in Africa.

    “The size of consumer expenditures is estimated to be 2.5 trillion dollars by 2030.

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    “The African Continental Free Trade Area (AfCFTA), which is the largest in the world in terms of numbers of countries, is estimated at 3.5 trillion dollars market size.

    “With a population of 1.3 billion, of which 600 m are young people, rapid urbanisation and rising incomes of the middle class, Africa is the leading emerging market frontier,” he said.

    Adesina listed several sectors that offered huge opportunities, including energy and agriculture, which was expected to grow to 1 trillion dollar by 2030.

    “This includes the development of special agro-industrial processing zones in which the bank and partners have invested more than 1.5 billion dollars in 11 countries.

    “In the energy sector, Africa has enormous renewable energy potential, including 11 TW of solar, which is the highest in the world, but only one percent is utilised.

    “With 350 GW of hydro, only seven per cent is utilised; 115 GW of wind potential of which only two per cent is used; and 15 GW of geothermal power of which only two per cent is utilised,” he said.

    Adesina invited Korean investors to its 2023 Africa Investment Forum in Marrakech, Morocco, from Nov.10 to Nov.12.

     The Africa Investment Forum had attracted 142 billion dollars in investment interest in Africa over the past four years, including in energy, agribusiness, roads and transport, health, and digital technology.

    The Korea’s 1st Vice President, Minister of Economy and Finance, Byoung Kim, acknowledged that despite global shocks, African countries were experiencing higher growth rates.

    Kim shared his strong conviction that there were enormous opportunities for investment in Africa compared to other continents and highlighted the important role of the private sector in harnessing these opportunities.

    He recalled that Korea was one of the poorest countries in the world but was able to overcome this largely by focusing on its small businesses and the private sector.

    “We hope to share those experiences with our African counterparts,.

    “We support the private sector to boost investment and provide guarantees tailored to private sector needs.

    The Korean government will work with AfDB to identify opportunities and use the KOAFEC Trust Fund to enhance the capacity of the private sector.

    The meeting identified the African Continental Free Trade Area as a platform for mutual trade and investment.

    The Chairman and President of the Export-Import Bank of Korea, Hee-sung Yoon, said Africa’s population and vast resources offered enormous opportunities for growth.

     “The AfCFTA will connect Africa with the rest of the world. It will be an opportunity for Korea to build strategic partnerships,” Yoon said.

    Meanwhile, during a subsequent panel session on Just Energy Transition in Africa, the CEO of Neo Themis, Tas Anvaripour encouraged Korean investors to consider on investing instead of only selling equipment.

     She assured the gathering that the AfDB was a trusted risk guarantor on the continent.

    “In several of our business ventures in some African countries, AfDB was there to support us.

    “Its credit guarantee helped us reassure our foreign investors and acted as an honest broker when it mattered most. Institutions like this make investing in Africa easy,” Anvaripour said.

    (NAN)