Edit Content

AfDB President, Akinwumi Adesina Endorsed By President Buhari

Akinwumi Adesina

President of the African Development Bank (AfDB) Akinwumi Adesina, meets President Muhammadu Buhari at the presidential villa. The meeting which took place on Tuesday, June 2, 2020, ended with hope and a bit of light at the end of the tunnel. 

“Nigeria stands solidly behind Akinwumi Adesina in his re-election bid as President of the African Development Bank (AfDB). We will work with all leaders, and stakeholders in AfDB, to ensure that he is re-elected. This will be on the strength of his achievements during this first term.” This information was disseminated on the official Twitter handle of the President.

See Also: 100 Profitable business ideas to start now for aspiring entrepreneurs and investors

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

Also, the president pledged that Nigeria would work with all other leaders and stakeholders in AfDB to ensure Adesina’s re-election. Adesina’s achievement during his first term has earned him the reputation he currently rides on for the second term.

All of these are against the backdrop of the travails of the allegations leveled against him. The 60-year-old president of the African Development Bank (AfDB) is said to have a clean public persona.

Mr. Adesina has denied all the allegations of official misconduct and abuse of office leveled against him. Adesina maintained his innocence.

“I maintain my innocence with regard to trumped-up allegations that unjustly seek to impugn my honour and integrity, as well as the reputation of the African Development Bank,” Adesina said recently while responding to the accusations.

See Also: How to access the CBN COVID-19 Relief Fund

The board of governors of the 55-year-old institution met last week. The meeting hovered around bringing in an outside investigator into the allegations concerning the Nigerian’s conduct. This also happened just days after the US rejected an initial inquiry that cleared him of all allegations.

The prospects of an independent probe come only three months before he was expected to be re-elected unopposed at its annual general meeting on August 25-27. 

President Buhari’s pledge of Nigeria’s support for Adesina is coming less than a week after former President Obasanjo endorsed Mr. Adesina. The Minister of Finance, Zainab Ahmed also threw her weight behind him.

Adesina was first elected as the President of the African Development Bank (AfDB) on May 28, 2015. His re-election bid has been widely supported by other African leaders and he has been endorsed as a sole candidate by the African Union. The Economic Community of West African States (ECOWAS), whose Authority of Heads of States and Governments gave its nod after its 56th ordinary session in Abuja last December.

Nigeria’s support and pat in the back is indeed a massive weight for the embattled gentleman.

See Also: Business challenges faced by entrepreneurs in Nigeria

Why is Nigeria’s support important for Akinwumi Adesina?

Among the core 54 African countries and non-regional members of the AfDB, Nigeria is the largest shareholder of AfDB.

AfDB’s 10 biggest shareholders:

  • Nigeria: 9.1%
  • US: 6.5%
  • Egypt: 5.5%
  • Japan: 5.4%;
  • South Africa: 4.9%
  • Algeria: 4.1%
  • Germany: 4%
  • Canada: 3.8%
  • Ivory Coast: 3.7%
  • France: 3.6%

The AfDB’s mission is to fight poverty and improve living conditions on the continent. The African institution promotes the investment of public and private capital in projects and programs. They also contribute to the economic and social development of the region.

The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC).

Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

The question on everyone’s lips is, if the AfDB president has done remarkably well in his first term, why are there hesitations in electing him a second time? Are there reforms that his leadership has put in place in African countries that the big guys are worried about? We will wait as events unfold.

Let’s create visibility for your business which will increase your sales and revenue. Contact us today to put your brand on the world map.



Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Business Registration

Most Popular

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Related Posts

How to build a strong personal brand

4 Awesome Ways to Build a Strong Personal Brand

To build a strong personal brand, you have to be intentional. A personal brand is the unique combination of skills, experiences, and personality that you want the world to see. It’s the telling of your story, and how it reflects your conduct, behaviour, spoken and unspoken words, and attitudes. In

How to grow a side hustle

How to Grow Your Side Hustle Into a Successful Business

Many people start side hustles to earn extra income. But what if your side hustle could become your main source of income? Growing a side hustle is a skill. Do you have what it takes to grow a side hustle? If you don’t, we got you. Transforming your side hustle

Best sales books for entrepreneurs

Best Sales Books for Entrepreneurs and Business Owners

One effective way to stay ahead of the competition is by updating your knowledge in sales. There are a lot of sales books tailored to entrepreneurs. In this article, we will look at the best sales books for entrepreneurs. These books provide valuable strategies that can significantly impact business growth.

Leadership Skills Every Entrepreneur Needs

5 Key Leadership Skills Every Entrepreneur Needs to Have

Entrepreneurs often wear many hats, but effective leadership is what binds everything together. Strong leadership skills can transform a fledgling startup into a thriving business. In this article, we will talk about the leadership skills every entrepreneur needs to succeed. Leadership for entrepreneurs are not just about managing people. They

Scroll to Top

Join Entrepreneurs Family!

Get access to FREE business insights and funding opportunities daily.

Entrepreneurs Sign Up