Akinwumi Adesina, former president of the African Development Bank (AfDB), says he is ready to help Nigeria in any capacity after completing his two terms at the bank, but noted that he is not looking for a job.
Adesina spoke to journalists on Tuesday after meeting with
President Bola Tinubu at the presidential villa in Abuja.
He said he visited Tinubu to formally inform him of the
completion of his 10-year tenure and brief him on the bank’s achievements,
including its financing support for Nigeria.
“It’s customary and it’s required that I come back home to
tell His Excellency, the President, of the completion of my term and also to
give him a report of what was achieved during my term,” he said.
Adesina said during his tenure, the AfDB provided roughly $7
billion in financing to Nigeria between 2015 and 2025, compared with $11.1
billion in total financing since the bank began operations in the country in
1971.
“So within ten years we were able to do 63 percent,
literally, of that,” he said.
Adesina said Tinubu was pleased with the bank’s
contributions and that he used the meeting to discuss the country’s economic
direction with the president.
‘ADESINA HAILS TINUBU’S REFORMS’
Adesina said he commended Tinubu on the removal of the
petrol subsidy and the harmonisation of foreign exchange (FX) windows,
describing them as difficult but important reforms.
“These are very, very important, difficult reforms, but they
are beginning to bear some fruits, quite some fruits,” he said.
Adesina said the reforms had helped improve foreign exchange
availability and attract portfolio investors, while inflation is trending
downwards.
“If you look at it, you have a lot more FX available today.
You have a lot of portfolio investors that are coming into the country. You
have inflation trending downwards,” he said.
“Prices are still a bit high, but inflation is trending
downwards.”
He also pointed to changes in how international rating
agencies viewed Nigeria, saying their assessments included stable and positive
outlooks.
However, Adesina said the country needs to move beyond
economic reforms and stabilisation towards structural transformation, growth,
and prosperity.
“You have to also now move from the issue of the reforms and
stabilisation straight into structural transformation and also growth and
prosperity, which is what the President is focusing on,” he said.
On the capacity he could contribute to Nigeria, the former
AfDB president said he was willing to help in any role Tinubu considered
appropriate.
“My heart is always at home. And in any capacity that His
Excellency feels I can help, I can help in anything,” he said.
He stressed that his offer was motivated by his commitment
to Nigeria rather than a desire for public office.
“I have a duty, an obligation and a responsibility to do so.
And I will,” Adesina said.
Adesina expressed commitment to contributing to Nigeria’s
development following his decade leading the AfDB.
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