Dr. Akinwumi Adesina, the President of the African Development Bank (AfDB), recently shared the fascinating journey that led to his historic election as the president of the continental financial institution in 2015.
Speaking at the 14th convocation lecture of the National Open University of Nigeria (NOUN), Adesina revealed how key Nigerian leaders played pivotal roles in his rise to the top of the AfDB.
The lecture, titled “Advancing Africa’s Positioning Within Global Development and Geopolitical Dynamics,” also touched on his leadership vision for Africa and the significant strides made by the bank under his tenure.
Adesina began his narrative by expressing profound gratitude to former President Goodluck Jonathan, who first nominated him for the AfDB presidency.
He acknowledged that Jonathan’s endorsement set the stage for what would become a significant milestone in his career.
“It took someone like former President Goodluck Jonathan to nominate me for that, for which I’m eternally grateful,” Adesina said, recounting the key moments that led to his candidacy.
However, Adesina was quick to point out that his candidacy could have faltered had former President Muhammadu Buhari not provided his crucial endorsement. Adesina explained, “If President Buhari had not supported my candidacy, it was dead on arrival.”
The global political landscape at the time was uncertain, and Adesina faced challenges during his campaign, particularly in Paris, where some countries were hesitant to support him due to the change in leadership in Nigeria.
“I went to a particular country, they said, sorry, we can’t see you. I asked, why? They said, because the government has changed in Nigeria.
“There’s a new president that’s coming in. And we don’t know whether he’s going to support you,” Adesina revealed.
In a moment of vulnerability, Adesina reached out to his then-state governor, Senator Ibikunle Amosun, who facilitated a call to President Buhari’s aide, Tunde Sabiu. This led to a direct conversation with Buhari, whom Adesina had never met before.
“When I spoke to President Buhari, he said, ‘I have followed your career without you knowing for a long time. I know you as a person of integrity and professionalism. I will support your candidacy, even though you are a PDP member,'” Adesina recalled.
This support from Buhari, along with the backing of other influential figures, was instrumental in his eventual election.
Adesina also acknowledged the contributions of several other Nigerian leaders, including former heads of state General Yakubu Gowon and General Ibrahim Babangida, who both played key roles in his campaign.
General Gowon, in particular, accompanied him to Namibia during his campaign, while Obasanjo and Babangida also lent their support.
Reflecting on the immense support he received, Adesina said, “I am not a product of myself. I am a product of trust and support of so many of our leaders.”
He further praised the role of former Vice President Atiku Abubakar, who introduced him to key stakeholders and facilitated strategic alliances that proved essential during the campaign.
Adesina’s journey to the AfDB presidency also involved personal challenges.
After his election on May 28, 2015, Adesina recalled a poignant moment during the inauguration of President Buhari, where he was denied entry into the VIP box at the Eagle Square.
Standing in the sun for three hours, Adesina seized the opportunity to express his gratitude to both Presidents Jonathan and Buhari. Despite being outside the VIP area, Adesina persisted in his mission to personally thank those who had helped him secure his position.
“I moved to the right. I crossed the carpet. The Service Chiefs saw me, and said congratulations, Dr. Adesina. I said, sorry, I don’t want to disrupt anything. I just came to say ‘thank you’ to President Buhari,” Adesina recounted, recounting the emotional exchange with the president.
Adesina’s leadership at the AfDB has since led to remarkable transformations.
Under his guidance, the bank’s capital increased from $93 billion to $318 billion, and it was recently rated as the best multinational financial institution globally.
In addition, the AfDB was ranked as the most transparent financial institution in the world for two consecutive years, scoring a record 98.9 percent in the “Publish What You Fund” index.
Adesina credited these achievements to the collaborative efforts of his staff and the bank’s shareholders.
Today, Adesina is proud of the AfDB’s legacy under his tenure and is committed to the vision of Africa’s self-reliance.
He closed his lecture with a call to action: “Africa must chart its future, relying not on the benevolence of others, but on its own self-determination of self-reliance, building reliable alliances, leveraging opportunities in these global dynamics, while putting Africa first.”
With his final term set to conclude this year, Adesina’s leadership at the AfDB is poised to leave an indelible mark on the continent’s development trajectory.
His journey from a modest Nigerian candidate to the president of one of the most influential financial institutions in the world stands as a testament to the power of unity, trust, and leadership in achieving great things for Africa.
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