Vice President Yemi Osinbajo has urged the African Development Bank (AfDB) to follow through its reform programmes with speed and efficiency to fast-track economic growth on the continent.
The Vice President, who made this known while speaking during the investiture of Dr Akinwumi Adesina as the 8th President of the African Development Bank in Abidjan, Cote d’Ivoire, also urged the bank to encourage good governance and increase efficiency of its programmes to address salient issues in health, education, unemployment and agriculture.
Prof Osinbajo further noted that the population of the extremely poor across the continent keeps rising in spite of other achievements in Foreign Direct Investment (FDI) and health, maintaining that “it is not encouraging”.
Prof Osinbajo urged the bank to redouble efforts towards poverty reduction, encourage good governance and increase efficiency of its programs to address salient issues in education, unemployment and agriculture.
In a speech after his investiture, Dr Adesina promised that the bank will launch a new deal on energy for Africa, adding that his administration would focus on equality and financial inclusion across the continent.
The AfDB President, who is Nigeria’s immediate past Minister of Agriculture, underscored the need to rapidly transform agriculture into a business to speed up economic growth and lift millions of people out of poverty.
He announced that the AfDB would embark on innovative programmes and work within five priority areas, including the light up and power Africa project, feed Africa, integrate Africa, industrialise Africa and improve quality of life for the people of Africa.