Sanwo-Olu, Amosun hail Adesina for growing AfDB’s capital to $318b

Lagos State Governor, Babajide Sanwo-Olu, and former Ogun State Governor, Ibikunle Amosun, have praised African Development Bank President, Akinwumi Adesina, for his efforts in financing critical infrastructure, economic development, and poverty reduction initiatives across Africa.

While acknowledging Adesina’s visionary leadership and transformative contributions to Africa’s development, Sanwo-Olu, and Amosun, in separate letters, commended Adesina for increasing the bank’s capital from $93 billion to $318 billion.

The AfDB president is receiving accolades ahead of his 65th birthday on February 6.

Sanwo-Olu described Adesina as a beacon of hope, saying his vision has shown that Africa is not just a continent of challenges, but a land of boundless opportunities.

“Your leadership during the COVID-19 global crisis reaffirmed your role as a reformer”, the governor said.

READ ALSO: Sanwo-Olu hails Adesina on exemplary leadership at AfDB

Amosun on his part said Adesina’s leadership at the African Development Bank has left an indelible mark, saying the AfDB boss raised the Bank’s capital from $93 billion to $318 billion.

“From increasing the Bank’s capital from $93 billion to $318 billion, to championing initiatives that have touched the lives of over 335 million Africans, your work deserves the highest recognition”, Amosun said.

He said Adesina’s leadership has driven the African Development Bank’s High 5s agenda, which focuses on Lighting and Powering Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improving the quality of life for Africans

Under his leadership, the bank was rated the best multilateral institution in 2022 and the most transparent multilateral financial institution in 2023 by Global Finance. Adesina’s second and final five-year term ends in August 2025.