President of the African Development Bank (AfDB), Akinwumi Adesina declared on Saturday that he will finish his term on September 1, 2025, marking the conclusion of a transformative decade at the helm of Africa’s leading financial institution.
While attending the groundbreaking ceremony for the Oyo State Special Agro-Industrial Processing Zone (SAPZ) in Atan-Ijaye, Akinyele Local Government Area, Adesina described this event as his last official visit to Nigeria as the AfDB President.
“This will be my last visit to Nigeria as president of the African Development Bank. My term officially ends at 8:00 am on September 1, 2025,” he remarked.
Reflecting on his tenure, Adesina expressed it has been “a privilege to serve Africa and to utilize that role to benefit my country, Nigeria.”
He extended his gratitude to President Bola Tinubu, Vice President Kashim Shettima, and other Nigerian stakeholders for their steadfast support throughout his time in office.
“When I assumed the presidency of the bank in 2015, its capital was $93 billion. Today, it stands at $318 billion,” he noted.
“We implemented effective governance, transparency, and accountability measures.
“The bank is now recognized as the top multilateral financial institution globally and the most transparent, achieving a score of 78% on the transparency index.”
Adesina acknowledged Nigeria’s vital contribution to the bank’s achievements and thanked members of the National Assembly, state governors, the private sector, and the Nigerian populace for their ongoing support.
Earlier, he praised Oyo State Governor, Seyi Makinde, for revitalizing the Fashola Farm Settlement, which has attracted investments exceeding ₦11 billion.
“Governor Makinde is a model leader,” he stated. “He has rejuvenated Fashola and made it a hub for agribusiness.”
Reiterating his long-held belief that agriculture is the “foundation of transformation and national security,” Adesina highlighted the importance of Special Agro-Industrial Processing Zones (SAPZs) in connecting producers with processors and markets.
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“The objective of SAPZ is to minimize post-harvest losses, enhance value chains, and generate employment,” he explained, noting that 28 SAPZ sites are currently operational in 11 African nations.
He stressed the importance of adding value to agricultural products:
“If you want to stay poor, export raw materials. But if you aim to be wealthy, add value. That’s the secret to transforming economies.”
Adesina expressed his pleasure that the SAPZ concept, which he introduced during his time as minister of agriculture 15 years ago, is now coming to fruition.
He announced that Phase II of the SAPZ programme will commence in September and commended the current Minister of Agriculture, Abubakar Kyari, for maintaining the vision despite political challenges.
