Tag: Akinwumi Adesina

  • ‘He rendered selfless service to Nigeria’

    ‘He rendered selfless service to Nigeria’

    Ex-President of African Development Bank (AfDB), Akinwumi Adesina, has expressed sorrow about the death of former President Muhammadu Buhari.

    Adesina, in a statement on X, described the late president as a patriotic leader, who rendered selfless service to the country.

    Read Also: Nigeria declares seven days of mourning for  ex-President

    He wrote: “I am greatly saddened by the passing of Nigeria’s former President @MBuhari. Thank you for your leadership, patriotism and selfless service to Nigeria. Thank you for your love and support for me. May God comfort your dear wife and family. May your soul rest in peace.”

  • Propping up Akinwumi Adesina

    Propping up Akinwumi Adesina

    Retiring president of the African Development Bank (AfDB), Akinwumi Adesina, has had a stellar tenure at the foremost African bank, serving for two terms since 2015 when he was first elected into the position. A first-class scholar and economist, it is not surprising that the 65-year-old meets the classical definition of a technocrat. Perhaps bored by technocracy, he seems, according to wide speculations, to be interested in veering to politics. If so, he will be following in the footsteps of another illustrious technocratic forebear, the late Adebayo Adedeji, a professor of Economics and former executive secretary of the United Nations Economic Commission for Africa (UNECA) between 1975 and 1991. Like Professor Adedeji who briefly forayed into presidential politics before discovering that the presidency demanded a different kind of endowment, Dr Adesina, who is rumoured to be propped up like his illustrious forebear by the restless ex-president Olusegun Obasanjo, may soon discover that the Nigerian presidency is a bridge too far for technocrats.

    READ ALSO: Issues in Lagos APC LG primaries

    It is not clear whether there is any truth to the rumours, but Dr Adesina has been visiting people and dignitaries, locally and internationally, such as the Egyptian president Gen. Abdel Fattah El-Sisi and former president Muhammadu Buhari. It seemed like a goodbye tour of some sorts, but commentators are reading meanings, including asserting that Chief Obasanjo is toying with the idea of using him to rob the hated President Bola Tinubu of a second term in office. So far, Dr Adesina has not directly responded to the rumours, but soon he will. Whatever he decides, he will, like Prof. Adedeji, discover that running for the presidency is unlike anything taught or learnt in the university, whether the student is a first-class scholar like him, or a precocious scholar like Prof Adedeji who became a professor at 36.

  • Akinwumi Adesina receives Kenya’s highest National honour

    Akinwumi Adesina receives Kenya’s highest National honour

    In a prestigious ceremony at the State House in Nairobi, President William Ruto of Kenya conferred the country’s highest national award, the Chief of the Order of the Golden Heart (CGH), upon Akinwumi Adesina, President of the African Development Bank.

    The Order of the Golden Heart is Kenya’s highest award, divided into three categories: Chief of the Order of the Golden Heart (CGH), Elder of the Order of the Golden Heart (EGH), and Moran of the Order of the Golden Heart (MGH).

    Read Also: Akinwumi Adesina: I never saidI’ll run for president in 2027

    This esteemed honor is typically reserved for holders of the office of the President of Kenya.

    However, Adesina’s remarkable contributions to African development have earned him a place among a select group of distinguished leaders who have received this recognition.

  • Akinwumi Adesina: I never saidI’ll run for president in 2027

    Akinwumi Adesina: I never saidI’ll run for president in 2027

    The President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has said he is not preparing to run for the president of Nigeria in 2027.

    The AfDB president explained what he meant when he said he would be available to serve his country in any capacity, after completing his tenure at the continental bank.

    He said the clarification became necessary because a lot of people had misinterpreted his statement.

    In an interview on Arise Television early this week, Adesina said he was available for national service after his tenure at the bank elapses.

    The AfDB president added that he would be willing to serve in any capacity, globally, in Africa, or in his home country.

    “I will be available to serve in any capacity, globally, in Africa, anywhere, including my own country, Nigeria,” he had said.

    The comments sparked widespread speculation, with some sections of the press reporting that the former Agriculture Minister may well be nursing a 2027 presidential ambition.

    Read Also: EXCLUSIVE: Akinwumi Adesina may join 2023 presidential race

    In a post yesterday on X, Adesina said his words were misrepresented.

    “A segment of my recent interview on Arise TV has been both misinterpreted and misrepresented in several Nigerian media outlets,” he said.

    “What I said was: ‘I will be available to serve in any capacity, globally, in Africa, anywhere, including my own country.’

    “A listen to the substantive and robust interview, which is available online will show this to be the case. For clarity and for the record, I did not say that I am running for the office of President of Nigeria.”

    Adesina was first elected to lead the AfDB in 2015. He secured a second term at the bank in 2020.

  • AfDB committed to finance stabilisation in the Lake Chad region – Akinwunmi

    AfDB committed to finance stabilisation in the Lake Chad region – Akinwunmi

    The African Development Bank (AfDB) has reaffirmed its commitment to fostering development and stability in the Lake Chad region through innovative financing mechanisms, territorial action plans, and cross-border projects.

    Speaking at the 5th Lake Chad Governors’ Forum in Maiduguri, AfDB President Dr. Akinwumi Adesina —represented by Dr. Yaro Balde, Director of AfDB’s Transition States Coordination Office—emphasized the bank’s dedication to aligning its interventions with the region’s evolving needs.

    Dr. Balde underscored the significance of government leadership and community ownership in ensuring long-term resilience and peace. 

    He highlighted AfDB’s ongoing support for territorial action plans (TAPs) in Chad and Niger, which integrate social services, economic empowerment, and infrastructure development.

    “The leadership of governments is crucial, but more importantly, these plans must be owned by the communities. Solutions must address the real needs of people, including internally displaced persons (IDPs), refugees, women, and children,” he said.

    He stressed the need for inclusive planning, greater engagement with civil society organizations and traditional leaders, and holistic solutions to tackle the region’s complex crises.

    Read Also: Internal party democracy key to credible elections – INEC chairman

    Dr. Balde also noted that AfDB has embedded humanitarian, development, and peace-building components into its infrastructure projects, ensuring that investments go beyond physical structures to create jobs and improve essential services.

    “For example, when we finance road projects, it’s not just about infrastructure—it’s about fostering socio-economic opportunities for the communities along those roads,” he explained.

    He further called for stronger cross-border collaboration in development efforts, stating that many territorial action plans lack sufficient regional coordination.

    “In our second strategy phase, we must enhance cross-border interventions, as security and economic activities are deeply interconnected across national boundaries,” Balde said.

    Recognizing the link between security and development, the AfDB is spearheading efforts to design new financing mechanisms to address Africa’s security challenges. 

    According to Balde, Dr. Adesina is leading the creation of a Security Investment Fund, a financial vehicle aimed at supporting conflict prevention, protecting strategic assets, and facilitating post-conflict reconstruction.

    He described the Lake Chad region as a critical asset requiring urgent investment to restore its ecological and economic potential while ensuring long-term stability.

    “The AfDB remains committed to mobilizing resources for territorial action plans and scaling up its development interventions to promote lasting peace and economic resilience in the region,” he stated.

    The Nation reports that the Forum which was declared open yesterday by Vice President Kashim Shetimma is expected to close on Friday 31st January, 2024.

  • AfDB okays $25b for agric, agribusiness

    THE African Development Bank (AfDB) said it has okayed a whopping $25 billion to  make agriculture and agribusiness Africa’s biggest industry.

    Its Communication and External Relations Department, said the AfDB President, Dr. Akinwumi Adesina, spoke at the ongoing Tokyo International Conference of African Development (TICAD) in Japan.

    Adesina said the reason was not far-fetched and predicted that the size of food and agriculture would rise to $1trillion by 2030.

    According to him, a lot of progress has been made in this renewed drive to transform agriculture on the continent.

    He said: “The AfDB inaugurated the Technologies for African Agricultural Transformation (TAAT) to help ramp up technologies to millions of farmers.

    “TAAT connects the global agricultural research centres, national agricultural research centres, private sector and agricultural value chains in Africa, in an unprecedented effort to connect the supply and demand side of technologies seamlessly.

    “For the first time, accountability was built into the approach, with technology delivery compacts signed by all participating institutions and partners.

    Read Also: AfDB approves $20m for clean energy

    “TAAT partners, which include the World Bank, AGRA, IFAD and the Bill and Melinda Gates Foundation have mobilised $1billion.

    “The results are impressive. Last year alone, the TAAT maize compact helped to deliver water efficient maize across the Southern Africa region that was experiencing severe drought.

    “Working with 30 private seed companies, the TAAT maize compact produced more than 27,000 tons of seeds of water efficient maize that was planted by 1.6 million farmers in just one year.’’

    He said Africa must feed itself and it must do more than that while the continent must also turn itself into a global power-house in food production.

     

  • AfDB invests $2b to train six million African scientists

    THE African Development Bank (AfDB) has committed $2 billion to the education and training of six million science students in Africa from 2005 to date.

    A statement by the bank’s Communication and External Relations Departmenton Thursday, in Abuja, said AfDB’s President, Dr. Akinwumi Adesina, broke the news at the Tokyo International Conference of African   Development  (TICAD) in Japan.

    Adesina said the bank was strongly supporting Africa to train and develop the next generation of scientists.

    The statement reads: “Since 2005, we have provided financing of over two billion dollars to support education; this has provided education opportunities for six million students.

    “We are proud of our investment in supporting the establishment of the Regional Center of Excellence in Kigali, in conjunction with the Carnegie Mellon University, which is providing world class Masters’ degree training in Information and Communication Technology (ICT).

    “I am delighted that all the students that have graduated from the university have 100 per cent employment, including setting up their own businesses.

    “The bank has supported the establishment of ICT digital parks in Senegal and Cape Verde.

    “We are working with the Rockefeller Foundation, Microsoft, Facebook, LinkedIn and Safaricom to establish coding centers in several countries.”

    Adesina thanked the Government of Japan for its strategic partnership with the bank in promoting science and technology in Africa.

    He said the bank supported the establishment of the Egypt-Japan University of Science and Technology in Egypt, the Jomo Kenyatta University of Agriculture and Technology, and the African University of Science and Technology in Nigeria.

    Read Also: AfDB approves $20m for clean energy

    According to him, in partnership with Japan, the Education for Sustainable Development in Africa (ESDA) has supported inter-university partnerships between eight African and four Japanese universities.

    He added that the Japan Africa Dream Scholarship Programme between the AfDB and Japan had supported African students to study in diverse fields of specialisation, including energy, agriculture, health, environmental sciences and engineering.

    Adesina said the collaboration also promoted university-industry partnerships.

    He said: “We greatly appreciate the support of the Government of Japan for the Science, Technology and Innovation Forum.

    “As we look toward the future, I would like to suggest seven key areas to prioritise on Africa’s drive in science and technology.

    “Africa must establish more universities of science and technologies, especially regional centers of excellence and ensure they are very well funded.

    “There’s an urgent need to increase the share of GDP that is devoted to science and technology to help Africa boost its competitiveness.

    “We must close the gender gap in higher education and strongly support more female students to go into science, technology, engineering and mathematics.

    “Equally important is the need to provide strong support to the Africa Institute of Mathematical Sciences – a world-class network of universities and African global scholars that will be critical for driving the 4th industrial revolution.”

    The AfDB president said there was need to expand digital infrastructure across the continent to drive down the cost of broadband crucial for quantum data analytics.

    Adesina stressed the need to support varsities to fast-track the development of technology and innovation entrepreneurship platforms.

  • Osinbajo launches AfDB-funded $258m northeast recovery intervention

    The African Development Bank and the Federal Government have launched the Inclusive Basic Service Delivery Livelihood Empowerment Integrated Programme – a $258million comprehensive multisectoral intervention aimed at bolstering rehabilitation efforts in north-eastern Nigeria.

    According to a statement by the AfDB, Nigeria’s Vice President Yemi Osinbajo launched the program at the bank’s premises in Abuja. The launch was attended by Governors of five northeast states, ministers, development partners and key stakeholders.

    The statement quoted Osinbajo saying that: “It has been gratifying to note how enthusiastically our friends and partners have rallied to our support, mobilizing resources to tackle the crisis in the northeast.

    “We would like to express the profound appreciation of the Federal Government to the Bank for being a partner in progress with us.

    “When the story of the region’s recovery is told, the work of the African Development Bank will occupy a well-merited and prominent chapter,” Osibanjo said, lauding the program as a landmark intervention in support of the region, which has suffered devastation from insurgency.

    The AfDB has stated clearly that state governments of the northeast will implement the Bank’s $258million programme with the Federal Government’s support.

    In terms of impact, 14 million affected people including 2.3 million internal displaced persons (IDPs) will benefit from health, nutrition, education, water and sanitation services.

    The Programme is targeting 9,000 IDPs and heads of vulnerable households who will receive direct economic assistance, while 2,023 small and medium scale enterprises (79% women) will receive business development support. About 2,900 construction artisans and mechanics in the informal sector will also get help to improve their productivity. The initiative envisages that 2,000 unskilled youth will be trained for employment.

    The President of the African Development Bank, Akinwumi Adesina represented by the Bank’s Senior Director in Nigeria, Ebrima Faal, highlighted the programme’s emphasis on inclusivity.

    Read Also: AFDB okays $32m for Climate Fund

    “It incorporates special gender considerations by ensuring that women are active participants in all stages of the project and providing training for women and youth entrepreneurs to increase their chances for employment and business opportunities,” Adesina said.

    “The Bank has remained a strong partner of the Federal and State Governments in their efforts to restore livelihoods in the northeast. For instance, throughout the period of heightened conflict in the region, the Bank intervened with two critical programmes in Yobe and Taraba States. The experience gained and lessons learned from implementing these two projects are incorporated in the design of the current intervention,” he added.

    Bauchi State Governor, Mohammed Abubakar thanked the Bank for putting together what he described as the first integrated and inclusive plan for rebuilding of northeast Nigeria.

    “Part of the underlying factors that led to the crazy phenomenon of Boko Haram is illiteracy and lack of economic capacity. For the first time, we have now a program that attempts to address all these issues at once,” he said.

    The intervention seeks to reduce fragility aggravated by the Boko Haram insurgency by contributing to emergency transition, recovery and peacebuilding efforts. It focuses on three main components – service delivery, economic recovery and institutional strengthening. It also includes support to ensure increased access of the poor and vulnerable to basic social services in water, sanitation, hygiene, health and education, as well as livelihood opportunities, food security and strengthened safety net systems.

    Participating states include Adamawa, Bauchi, Borno, Gombe and Taraba states.

    In his remarks, Chairman of the Presidential Committee on the North-East Initiative, Theophilus Danjuma noted that given the growing traffic of displaced persons back to their home communities, the provision of essential services and job creation in safe locations will play a huge role in ensuring the sustainability of the post-crisis recovery.

  • Atiku, Gowon, Abdulsalam attend Jonathan’s book launch

    Former heads of States, Yakubu Gowon, Abdulsalam Abubakar and former Vice President and Presidential candidate of the People’s Democratic Party,  Atiku Abubakar, are currently attending the book launch of former President, Goodluck Jonathan in Abuja.

    The book launch is taking place at the Congress Hall of the Transcorp Hilton hotel in Abuja.

    Read Also:Buhari to Jonathan at 61: You are an inspiration to youths

    Also present at the book launch are former President of Ghana, John Mahama, President of AfDB, Akinwumi Adesina and some governors elected under PDP.

    President Muhammadu Buhari is represented at the event by Secretary to the Government of the Federation, Boss Mustapha.

    Also present at the book launch are Federal and state legislatures elected under PDP.

    The book: “My transition Hours” gives an account of what happened in the build up to 2014 elections.

    Details shortly…

  • AfDB to support Nigeria’s power sector recovery program

    The African Development Bank ( AfDB ) says it will support Nigeria’s Power Sector Recovery Programme ( PSRP ) in three areas.

    It listed the areas as operational and technical intervention, governance issues and policy based support.

    The bank disclosed this in Abuja on Friday in a statement signed by Mrs Fatimah Alkali, Senior Communications Officer in Nigeria Country Office.

    AfDB said it had undertaken a mission to hold further discussions on Nigeria’s PSRP with several stakeholders.

    The bank said that the mission was led by Mr Amadou Hott, the Bank’s Vice President for Power, Energy, Climate Change and Green Growth.

    It said meetings had been held with relevant ministries, departments and agencies to harmonise plans and areas of intervention.

    The ministries and agencies include the Ministries of Finance, Power, the Nigerian Electricity Regulatory Commission, the Transmission Company of Nigeria, World Bank and solar power developers.

    The Bank said the programme was designed to promote energy access to rural communities through the expansion of the transmission grid, development of innovative financing products and provision of technical assistance to improve revenue generation by the distribution companies.

    It said the goal of the mission was to identify opportunities for collaboration in the programme.

    “The bank’s energy strategy identifies energy as crucial not only for the attainment of health and education outcomes, but for industrialisation, reducing the cost of doing business and for unlocking economic potential and creating jobs.

    “In line with its high 5 development priorities, the Bank is committed to supporting Nigeria in the effective and efficient implementation of the country’s Power Sector Recovery Program,” the bank said.

    The statement quoted the Bank’s President, Dr Akinwumi Adesina, as saying that “Africa is simply tired of being in the dark.

    “It is time to take decisive action and turn around this narrative: to light up and power Africa and accelerate the pace of economic transformation, unlock the potential of businesses and drive much needed industrialisation to create jobs” he said.

    NAN