OAU Alumni Body Hails Member, Adesina Over Re-election As AFDB President

Former students of the Obafemi Awolowo University, Ile-Ife under the umbrella of the Great Ife Alumni Association has feliciated with their member, Dr. Akinwumi Adesina, over his re-elevtion as President of the African Development Bank (AfDB).

Dr Adesina, a former minister of Agriculture in Nigeria was re-elected for a second term at the 2020 Annual General Meeting
of the continental bank.

The alumni association, in a press release signed by its Worldwide President, Engr. Wale Olaleye, said Adesina’s litany of achievements at the bank during his first tenure earned him another.

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For the alumni, Adesina has touched critical parts of Africans’ lives with his five points agenda.

The well thought out agenda of the AFDB President, according to the body include Feeding Africa (self-sufficiency in food production is the first step in banishing poverty and Lighting up Africa (industrial development is impossible without electricity);.

Others are Industrialising Africa (the continent cannot continue being a mere supplier of raw materials and net importer of finished goods); Integrating Africa (Removing the barriers that fetter intra-African cooperation and Improving the quality of lives of Africans (thereby increasing productivity and encouraging Africans to stay home and develop their continent).

“As a body of accomplished professionals, technocrats, academics and industry players in various parts of the world, we know the kind of hard work and vision that informed Adesina’s sterling achievements during his first term in the five critical areas that have now come to define his contribution to the development of Africa”

“Adesina’s visionary leadership championed an increase in the bank’s share capital from $93 billion to $208 billion during his first term. The African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) was consistently rated AAA with a stable outlook by global credit rating agencies, Fitch and Standard & Poor.”

The body therefore expressed confidence that under Adesina’s leadership in this second tenure, the AfDB will continue in its trajectory of leading development efforts in Africa and helping countries on the continent achieve their highest potentials.

“The Great Ife Alumni Association (worldwide)
agrees with the African Union and friends of Africa that one good tenure deserves another. With Adesina at the helm, a more prosperous Africa that will contribute significantly to global prosperity is feasible”, Olaleye enthused.

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