By Jimoh Babatunde
President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, on Saturday, announced that his tenure at the bank will come to an end on September 1, 2025, marking the conclusion of a transformative decade at the helm of Africa’s foremost financial institution.
Speaking at the groundbreaking ceremony of the Oyo State Special Agro-Industrial Processing Zone (SAPZ) in Atan-Ijaye, Akinyele Local Government Area, Adesina described the moment as his final official visit to Nigeria as AfDB President.
“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.
Reflecting on his journey, Adesina said it has been “an honour to serve Africa and to use that as an instrument to serve my country, Nigeria.”
He expressed gratitude to President Bola Ahmed Tinubu, Vice President Kashim Shettima, and other Nigerian stakeholders for their unwavering support during his tenure.
“In 2015, when I took over as president of the bank, its capital stood at $93 billion. Today, it is $318 billion,” he said.
“We did everything right—good governance, transparency, and accountability. The bank is now ranked the best multilateral financial institution in the world and also the most transparent, scoring 78% on the transparency index.”
Adesina acknowledged the crucial role Nigeria played in the bank’s success and thanked members of the National Assembly, state governors, the private sector, and the Nigerian people for their consistent backing.
Agriculture is the Backbone of Economic Transformation — Adesina
Earlier in his remarks, Adesina commended Governor Seyi Makinde of Oyo State for revitalising the Fashola Farm Settlement, which has now attracted investments of over ₦11 billion.
“Governor Makinde is an exemplary leader,” he said. “He has revived Fashola and turned it into a magnet for agribusiness.”
Reiterating his long-standing belief in agriculture as the “backbone of transformation and national security,” Adesina underscored the strategic role of Special Agro-Industrial Processing Zones (SAPZs) in linking producers 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 SAPZ sites are already operational across 11 African countries.
“AfDB has invested $30 million, with an additional $38 million mobilised from development partners.”
He emphasised the necessity of value addition in agricultural commodities:
“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 expressed satisfaction that the SAPZ concept, which he initiated during his tenure as Nigeria’s Minister of Agriculture 15 years ago, is now being realised.
He disclosed that Phase II of the SAPZ programme will begin in September and praised the Minister of Agriculture, Abubakar Kyari, for continuing the vision despite political pressures.
“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 said.
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