President Bola Tinubu received in audience the former President of the African Development bank (AFDB), Akinwunmi Adeshina (@drakinwumiadesina at the State House Abuja earlier today. "I came to brief Mr President of all of the things that was achieved during my time, I also had the opportunity to discussion with him as regards the support of the AFDB to Nigeria during my time. The support of the AFDB to Nigeria between 2015 to 2025 (about $7b) was greater than in the 70s(was about $11b). And the President has been pleased with all the supports"(MP4)
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The former President of the African Development Bank visited the President of Nigeria to report on the completion of his ten-year term. The discussion focused on the bank's financial support for Nigeria, the positive impact of recent macroeconomic reforms, and the former bank president's commitment to assisting the country's future growth and structural transformation.
It's
interesting
to see
you
in the
State
House,
visiting
Mr.
President.
What do you want to tell us about your visit?
It's significant.
Yes, it's very significant.
I'm actually quite honored for His Excellency
the President to have given me the audience
to come and see him today.
As you were just saying, you know,
I completed my term two times as President of the African
Development Bank, ten years,
and 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.
I took the opportunity to brief His Excellency the President
on that. Mr. President was very pleased with what was done
and what was accomplished. I
also had the opportunity to discuss with the President.
I'm a banker, so we discussed about
the support of the African Development Bank to Nigeria
while I was there. One of the things
that I mentioned to him was that, you know,
if you look at the bank support to Nigeria,
you know, from 2015 to 2025, was roughly $7 billion.
But if you look at the total amount
of bank financing to Nigeria since 1971,
when the African Development Bank started operations
in Nigeria, it's been $11.1 billion.
So within 10 years, we were able to do 63% literally
So the President was very,
very pleased with the various support that's been provided.
I use the opportunity to also commend him
on the reforms that he's been doing,
both in terms of the macroeconomic reforms with the fuel subsidy
and also the harmonization of the exchange rate windows.
These are very, very important, difficult reforms,
but they are beginning to bear some fruits, quite some fruits.
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.
Prices are still a bit high, but inflation is trending downwards.
If you take a look
also in terms of the issue of how the world looks at Nigeria,
it's very, very different.
And I look at some of the rating agencies,
how they give Nigeria some of their stable
and also positive outlook.
Now, that's just the beginning of the work.
I think the most critical thing is the president realizes,
and everybody knows that, you know,
being a dentist is a very difficult job, but you have to also now move
from the issue of the reforms and stabilization straight
into structural transformation and also growth and prosperity,
which is what the president is focusing on.
And I told the president, I'm back at home,
here to help and ready to help.
It's my country, I love my country, and I'm ready to help.
It is interesting that you're ready to help
because you're one of the best exporters
that Nigeria has ever had going to the international stage.
So in what capacity do you think you can help Nigeria now?
Well, you know, I'm fully able to help Nigeria in any capacity.
I've always said that.
You know, my heart is always at home.
And in any capacity that His Excellency feels I can help,
I can help in any state.
I'm not looking for a job.
I'm not looking for anything.
I'm just here to help.
It's my country.
I have a duty, an obligation, and a responsibility to do so.
And I will.
Thank you so much.
Yeah.
Thank you.
Thank you.
Thank you very much.
Yeah.