By Emmanuel Nduka
President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has formally announced that his tenure will end on September 1, 2025, concluding a transformative 10-year leadership marked by reforms, expanded investment capacity, and global recognition.
Speaking on Saturday at the groundbreaking ceremony of the Oyo State Special Agro-Industrial Processing Zone in Atan-Ijaye, Akinyele Local Government Area, Oyo State, Nigeria, Adesina said the visit would be his final official trip to his country in his capacity 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, he described his tenure as “an honour to serve Africa and to use that as an instrument to serve my country, Nigeria”.
Dr. Adesina expressed deep appreciation to President Bola Tinubu, Vice President Kashim Shettima, and other Nigerian stakeholders for their continued support throughout his presidency.
“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,” he added.
He acknowledged the key 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 unwavering backing.
Commending Governor Seyi Makinde of Oyo State for his revitalisation of the Fashola Farm Settlement, Adesina highlighted its transformation into an investment hub now attracting over ₦11 billion.
Reinforcing his long-held view that agriculture is the “backbone of transformation and national security,” Adesina emphasized the impact of Special Agro-Industrial Processing Zones (SAPZ) in connecting producers with processors and markets.
“The goal of SAPZ is to reduce post-harvest losses, strengthen value chains, and create jobs,” he noted, adding 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 said.
Adesina also underlined the importance of value addition in agriculture:
“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,” he said.
He expressed pride that the SAPZ concept, which he pioneered during his time as Nigeria’s Minister of Agriculture 15 years ago, is now being realised and scaled across the continent.
He further disclosed that Phase II of the SAPZ programme will commence in September, while lauding the Minister of Agriculture, Abubakar Kyari, for staying true to the vision despite political opposition.
Dr. Sidi Ould Tah Takes Over
Heritage Times HT had reported that Mauritania’s Dr. Sidi Ould Tah will replace Adesina as the Bank’s 9th President from September 1, 2025.
A renowned economist and financial expert with over three decades of experience, Dr. Tah was elected President of the AfDB on May 29 this year at the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire, by the AfDB’s Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group’s 81 regional and non-regional member countries.
Dr. Tah will assume a five-year term, following the expiration of the second tenure of outgoing President Adesina.
As announced by Niale Kaba, Minister of Planning and Development for Côte d’Ivoire and Chairman of the Board of Governors of the Bank Group, the results showed Dr. Ould Tah winning by a landslide 76.18% of total votes. His two closest rivals were: Zambia’s Samuel Munzele Maimbo (20.26% total votes) and Senegal’s Amadou Hott (3.55% total votes).
