Former President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has called for greater emphasis on economic growth and improved living standards as Nigeria moves beyond the initial phase of its macroeconomic reforms.
Adesina made the call on Tuesday after meeting President Bola Tinubu at the Presidential Villa in Abuja, where he also expressed his willingness to contribute to the country’s development in any capacity.
The former AfDB president said Nigeria’s next priority should be translating economic stabilisation measures into structural transformation, expanded opportunities and shared prosperity.
According to him, reforms must ultimately deliver tangible benefits to citizens through improved economic conditions and sustainable development.
Adesina acknowledged the economic policies introduced by the Tinubu administration, particularly the removal of petrol subsidies and the unification of foreign exchange rates.
He described the measures as difficult but necessary, arguing that they were beginning to produce encouraging results.
Among the developments he cited were improved foreign exchange availability, renewed interest from portfolio investors and a downward trend in inflation.
He also pointed to what he described as improving international perceptions of Nigeria, referencing positive and stable outlooks issued by some credit rating agencies.
However, Adesina stressed that economic reforms and stabilisation should serve as foundations for broader transformation rather than become ends in themselves.
He said the president recognised the importance of ensuring that the effects of the reforms translated into better living standards and increased economic opportunities.
During the meeting, Adesina also presented an account of his 10-year leadership of the African Development Bank, highlighting the institution’s financial support for Nigeria between 2015 and 2025.
He disclosed that the bank provided approximately $7 billion in financing to Nigeria during his tenure.
According to him, the amount represented about 63 per cent of the AfDB’s cumulative $11.1 billion financing to Nigeria since the institution began operations in 1971.
Adesina said Tinubu expressed satisfaction with the bank’s achievements and its contributions to Nigeria’s development during the period.
Beyond reviewing his tenure, the former AfDB president used the visit to reaffirm his commitment to supporting national development.
He emphasised that his willingness to assist the government was not motivated by an interest in securing a political appointment or employment.
“My heart is always at home. In any capacity that His Excellency feels I can help, I can help in anything,” he said.
“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.”
Adesina maintained that his experience and commitment to Nigeria remained available to support initiatives aimed at strengthening the economy and improving citizens’ welfare.
Ezeana Emmanuel
