Johnbosco Agbakwuru – Abuja

PRESIDENT Muhammadu Buhari has passed a vote of confidence on the President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, Board of Governors and staff of the bank on their efficient administration that has culminated in the historic increase in the bank’s capital base.

AfDB
Adesina

AfDB had recently increased its capital base from $93 billion to $208 billion, placing the multilateral institution on a stronger pedestal to drive growth and development on the continent.

President Buhari, in a message of congratulations to Akinwunmi, said he joined shareholders of the Bank and African Heads of State and Governments in celebrating the feat, adding that it clearly demonstrates the quality of leadership at the helm of affairs and the technical expertise that had been steadily pushing reforms for a smart and nimble institution focused on alleviating poverty.

The President in a statement issued by his Special Adviser on Media and Publicity, Femi Adesina, on Sunday in Abuja, also felicitated with the leadership of the Bank for numerous reforms undertaken to reposition the institution for current global realities and the peculiar needs of the African continent.

He commended the visionary policies that have started yielding results in providing electricity, financing and modernizing agriculture, encouraging industrialization, integrating Africa and improving the livelihoods of many on the continent.

The statement read: “With the historic approval of $115 billion by the Board of Governors, which will buoy the Bank’s operations and reach, the President extols Dr. Adesina for brilliantly and diligently taking the AfDB to new heights of achievements, and inspiring confidence that, indeed, the Sustainable Development Goals (SDGs) and the African Union Agenda 2063 are realisable.”

 

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