A few days ago, outgoing President of the African Development Bank Group, Dr. Akinwumi Adesina claimed that Nigerians today are worse off than in 1960, basing his conclusion on figures that do not align with available data. According to Nairametrics, he claimed that Nigeria’s Gross Domestic Product (GDP) per capita in 1960 was $1847 and that it is $824 today. …

President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has called on African nations to put an end to the export of raw materials, if the continent was to overcome poverty and underdevelopment. According to data from the Office of US Trade Representative and other multilateral institutions, Africa accounts for less than 2 per cent of global manufacturing. In a …

President of the African Development Bank, Dr. Akinwumi Adesina, has thanked former President Muhammadu Buhari for his unwavering support during both his initial election and eventual re-election as AfDB President. In a post shared on X on Thursday, Adesina disclosed that he recently paid a visit to Buhari to personally thank him for his role in backing his candidacy. ‘I …

President Bola Tinubu congratulated the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina on the award of the prestigious Obafemi Awolowo Prize for Leadership. Adesina joins the pantheon of other previous winners of the award such as Nigeria’s Nobel Laureate, Prof. Wole Soyinka; former President of South Africa, Thabo Mbeki; and lawyer-educationist, Chief Afe Babalola. President Tinubu commended …

The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has called on African leaders to create quality jobs for their teeming unemployed youths, to stem the trend of brain drain bedevilling the continent. Adesina said in Abuja on Friday at the Second Veritas University Digital Innovations Exhibition and 12th Convocation Lecture, that Nigeria was losing its best brains …

President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has said the Abidjan-Lagos highway corridor had secured a $15.5 billion investment interest. Adesina announced this while welcoming participants at this year’s Africa Investment Forum (AIF) Market Days with the theme: Unlocking Africa’s Value Chains, yesterday in Marrakech, Morocco. Adesina said the corridor would transform the entire West African region and speed up …

An African initiative to increase solar generation capacity and provide 250 million people across Africa’s Sahel region with electricity access continues to attract financial support from around the world. Launched in 2019 by the African Development Bank (AfDB) Group and its partners, the Desert to Power initiative is designed to make Africa a renewable power house. Desert to Power will develop …

The African Development Bank (AfDB) has said that 440,000 jobs have been created in Nigeria through its interventions. Of this number, women and youths account for 60 percent. AfDB president, Dr Akinwunmi Adesina said at the African Small and Medium Enterprise (SMEs) Immersion Fund Roundtable in Lagos that the bank had supported more than 20,500 MSMEs, with about eight LOCs …

The African Development Bank has drawn $31 billion in investment interest from African and global investors. According to the Communication and External Relations unit of the AfDB, its president, Dr Akinwumi Adesina said this at the 2022 Africa Investment Forum Market Days, which ended on Friday. Adesina commended the forum’s outcomes and the partners’ commitment. “Despite the challenges, we are …