President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has announced that he will officially conclude his tenure on September 1, 2025, bringing an end to a transformative 10-year leadership of the continent’s premier financial institution.
Speaking on Saturday at the groundbreaking of the Oyo State Special Agro-Industrial Processing Zone in Atan-Ijaye, Akinyele Local Government Area, Dr. Adesina disclosed that the visit marked his final official engagement in Nigeria as AfDB President.
“This is actually my last visit to Nigeria in my capacity as President of the African Development Bank. My tenure officially ends at 8:00 a.m. on September 1, 2025,” he said.
Reflecting on his time at the helm, Adesina described it as “an honour to serve Africa and, through that, to serve my country, Nigeria.” He expressed heartfelt appreciation to President Bola Tinubu, Vice President Kashim Shettima, and other key Nigerian figures for their unwavering support throughout his term.
“When I assumed office in 2015, the bank’s capital was $93 billion. Today, it stands at $318 billion,” he noted. “We achieved this by ensuring good governance, transparency, and accountability. The AfDB is now rated as the world’s top multilateral financial institution and the most transparent, with a 78% rating on the transparency index.”
Adesina credited Nigeria’s backing as instrumental to these achievements and extended his thanks to the National Assembly, governors, the private sector, and the Nigerian people for their enduring support.
In his remarks, Dr. Adesina also lauded Governor Seyi Makinde for reviving the Fashola Farm Settlement, which has now attracted over ₦11 billion in investments.
“Governor Makinde is a visionary leader. Fashola is now a hub for agribusiness and investment,” he said.
Reaffirming his belief in agriculture as a foundation for national development and security, Adesina highlighted the importance of Special Agro-Industrial Processing Zones (SAPZs), which connect farmers to processors and markets.
“These zones aim to reduce post-harvest losses, boost value chains, and generate employment,” he explained. “So far, 28 SAPZ sites are active in 11 African countries.”
According to him, the AfDB has committed $30 million to the initiative, with an additional $38 million sourced from development partners. He emphasized that value addition in agriculture is the pathway to prosperity:
“If you want to remain poor, export raw materials. If you want to be wealthy, add value. That’s the formula for transforming economies.”
Adesina expressed satisfaction that the SAPZ initiative, which he launched as Nigeria’s Agriculture Minister 15 years ago, is now being fully implemented. He revealed that Phase II of the programme will commence in September.
He also praised Nigeria’s Minister of Agriculture, Abubakar Kyari, for sustaining the programme despite political pressures.
“Some urged him to drop it because it was ‘Adesina’s project,’ but he rightly insisted, ‘This is Nigeria’s project.’ The SAPZ in Atan-Ijaye will uplift the entire community,” Adesina affirmed.
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