By Ikenna Uwadileke, News Agency of Nigeria
Mr Akinwumi Adesina, Minister of Agriculture, under former President Goodluck Jonathan’s administration on May 28, 2015 emerged as the President of African Development Bank (AfDB).
He was the first Nigerian to head the AfDB established in 1964. He was elected the bank’s president, hours after his term of office as Minister of Agriculture ended; and he was adjudged as one of the best ministers in Jonathan’s cabinet.
Adesina who recalled his appointment as minister said: “when asked by President Goodluck Jonathan to serve as Minister of Agriculture, I saw it as call to duty to the land of my birth.’’
He explained that with the support of Jonathan and the then President-elect, Muhammadu Buhari, Nigeria campaigned vigorously for the position of the President of AfDB.
He said that all hands were on deck to ensure that Nigeria got the position.
Adesina commended the roles played by former presidents and heads of state:
Yakubu Gowon, Abdulsalami Abubakar, Olusegun Obasanjo. Vice Presidents Atiku Abubakar and Namadi Sambo, among others.
Adesina, who recently gave report of his four years stewardship at a forum, disclosed that 181 million people have directly benefitted from the bank’s investments.
He said: “At the African Development Bank, we have worked very hard.
“In my four years as president, we have connected 16 million people to electricity and provided 70 million people with improved agricultural technologies to achieve food security.
“We have also given nine million people access to finance from private sector companies, provided 55 million people with access to improved transport, and 31 million people with access to water and sanitation.
“I am proud of all my staff and the board of directors, whose hard work and relentless support have helped make this happen.
“AfDB has continued to maintain its global AAA Rating, and only last year, the bank was rated the 4th most transparent institution globally.’’
Believing that Adesina performed very well, President Muhammadu Buhari, on Oct. 6, nominated him for re-election as President of AfDB.
The day Buhari endorsed Adesina, coincided with the day the AfDB president received the Emeka Anyaoku Lifetime Achievement Award, in recognition of his outstanding performance
Adesina, who acknowledged that Nigeria had invested so much in him, said that his nomination for a second tenure by President Buhari had once again given him “air in his lungs.’’
An economist, Mr Olugbemiga Michael, said that since Adesina became the president of the bank, it had boosted the image of Nigeria and Africa.
He said that Adesina steered the affairs of the bank creditably, promoted
sustainable economic growth and reduced poverty in Africa.
“The Emeka Anyaoku Lifetime Achievement Award, Adesina recently received,
in recognition of his outstanding performance is well deserved.
“The recognition was never the expectation or end game, when one was
passionate about his work.
““My assessment of his performance has clearly shown that achieving the
bank’s High 5s will allow Africa to achieve about 90 per cent of the Sustainable
Development Goals (SDGs).
“So, the faster the bank delivers on the High 5s, the faster Africa will reach her
goal and desired destination as a continent,” Michael said.
The AfDB is stepping up development in Africa, by focusing on five priorities
that are crucial for accelerated economic transformation. The bank calls them
the “High 5s’’: Light up and power Africa, Feed Africa, Industrialise Africa,
Integrate Africa, and Improve the quality of life for the people of Africa.
Similarly, Mr Barisua Deezim, a financial expert, said that Adesina changed
the culture in the bank from one driven by entitlement to one driven by
performance.
Deezim, while acknowledging that no organisation can excel without
accountability, stressed that the bank’s investments and achievements under
Adesina inspired confidence and prospects for Africa’s economic growth and
brighter years ahead.
The AfDB, on its website, highlighted some investment projects of the bank in
2017.
The bank supported Morocco with 249.5 million dollars to expand Ouarzazate,
the largest solar power plant in the world.
“In Uganda, the bank supported with 105 million dollars for the Bujagali
project, expected to generate 300 MW of power and cut electricity tariffs by 50
per cent.
“And in Burkina Faso, the bank supported the development of a 50MW solar
project jointly with the French Development Agency, AFD. The project will be
the largest utility scale solar power facility in West Africa.
“And now, the bank is spearheading the development of the Desert to Power
Initiative, to harness electricity from the sun all across the Sahel.
“Africa needs to promote green growth. At the bank, we are extremely
conscious of our climate and environmental responsibilities and leadership
role.
“Consequently, we are tripling our climate finance to 40 per cent of our
portfolio by 2020.
“We are excited about the progress we are making on agriculture. Last year,
we invested 1.16 billion dollars in the sector, the highest ever in the bank’s
history,’’ the bank wrote on its website.
While painting a picture of the future of the bank, Adesina said that the bank
expects to provide 29.2million Africans with access to electricity with adequate
resources between 2018 and 2020.
According to him, the Feed Africa project, will allow 45.8 million people to
benefit from improved access to agricultural technologies; and the Integrate
Africa High 5 will provide 50 million Africans with improved access to
transport.
He added that the bank’s High 5 on Industrialising Africa, will enable seven
million people to benefit from investment projects and the High 5 on
improving the quality of life, will provide 36.8 million people with improved
access to water and sanitation.
“The bank continues to deliver impressive results. Since GCI-6, the bank has
delivered a 17-fold increase in lending to ADF countries.
“That’s why, investing by our shareholders in the bank will help to further
accelerate Africa’s development.’’
Adesina also said that the bank launched the Africa Investment Forum (AIF)
in order to mobilise African and global pension funds, sovereign wealth funds
and institutional investors, to invest in Africa.
He said that the forum would hold in Johannesburg, South Africa, from Nov. 7
to Nov. 9.
“The AIF will be a totally transactional forum, and is expected to become
Africa’s premier investment market place.
“Several multilateral development banks have already joined with the bank on
this landmark platform, Africa’s largest, to accelerate private investments.
“So, the African Development Bank is reforming, innovating, leading and
delivering more for Africa, than ever before.
“With the strong support for a general capital increase by our board of
directors, governors of the bank, and the ambassadors representing our
shareholders’ countries, Africa will indeed experience a much brighter and
impactful future,’’ Adesina said.
Analysts say, that, that future will be brighter if Adesina is given the mandate
for a second tenure.(NANFeatures)
