Adesina Hails Jonathan, Buhari, Others As AfDB Capital Triples

Outgoing President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has expressed deep appreciation to former Nigerian leaders and key supporters for their roles in backing his leadership at the Bank, as he announced the institution’s capital had grown from $93 billion in 2015 to $318 billion in 2025.

Dr. Adesina, who has led the AfDB for a decade, gave the commendation during the opening ceremony of the Bank’s 2025 Annual Meetings held in Abidjan, Côte d’Ivoire.

“I owe my deepest appreciation and gratitude to President Goodluck Jonathan who nominated me for my first term; and to President Muhammadu Buhari who carried it forward and backed my reelection for a second tenure,” he said.

He also extended heartfelt tributes to other Nigerian leaders including former Presidents Olusegun Obasanjo, Abdulsalami Abubakar, Ibrahim Babangida, Yakubu Gowon, as well as former Vice Presidents Atiku Abubakar, Namadi Sambo, Yemi Osinbajo, and Ngozi Okonjo-Iweala, who was Finance Minister during his nomination.

Adesina appreciated President Bola Tinubu and Vice President Kashim Shettima for supporting the $500 million replenishment of the Nigeria Trust Fund for another 15 years.

Reflecting on his 10-year tenure, Adesina said, “I earnestly gave Africa my heart, my mind and my all. I fought for what I believed were in Africa’s best interest, every single day and at every turn in my 10 years as President.”

He highlighted the Bank’s achievements under his leadership, including growing AfDB’s capital from $93 billion to $318 billion and approving $102 billion in projects—representing 46 percent of all approvals in the Bank’s 60-year history.

Adesina also noted that AfDB’s total disbursements during his term reached $59 billion, nearly half of all disbursements ever made by the institution.

“These are not just numbers. “This represents a new dynamism, scale and transformative impact of the African Development Bank Group than at any point in its history,” he stressed.

He disclosed that the Bank’s work had impacted over 565 million people in Africa, including 28 million with electricity access, 104 million with food security, 121 million with transport services, and 128 million with improved healthcare.

Under his leadership, the Bank earned global recognition as the Best Multilateral Financial Institution and ranked as the most transparent development finance institution in the world, scoring 98.8 percent in the 2024 Global Transparency Index.

The AfDB also mobilized major investments through initiatives such as the Africa Investment Forum, which has secured $225 billion in investment interests since its launch in 2018.

On climate and energy, Adesina noted the Bank’s launch of the $10 billion Alliance for Green Infrastructure in Africa and its role in mobilizing $4 billion for clean cooking solutions for African women.

He further mentioned the Bank’s support for youth and women through initiatives like the $2.5 billion Affirmative Finance Action for Women in Africa (AFAWA), benefiting over 24,000 women-led businesses, and the Youth Entrepreneurship Investment Banks to unlock opportunities for young Africans.

In Nigeria, Adesina said the Bank had mobilized $2.9 billion to expand Special Agro-Industrial Processing Zones to 28 states and the FCT.

He concluded with a prayer for the Bank’s 81 shareholder countries, asking for continued support and blessings in the years ahead.