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BREAKING: Akinwunmi Adesina re-elected AfDB President
Nigeria’s Akinwumi Adesina has been re-elected as the President of the African Development Bank President for a second five-year term.
The election took place electronically on Thursday at the virtual annual general meeting of the bank.
Adesina’s reappointment on Thursday at the helm of the 56-year-old bank is considered a formality as he is the sole candidate, Lespanafricaines reports.
The head of the African bank had appealed on Wednesday for a second term in office after a months-long storm over alleged corruption and poor governance that ended after he was cleared in an independent probe.
In a speech at the AfDB’s annual meetings, Adesina formally requested a second term as president, declaring that he was “doing it with an acute sense of duty and commitment.”
“I do it to serve Africa and our bank, in an unbiased way, to the best of the abilities that God has given me,” he said, according to a statement issued by the bank.
Adesina, the son of a farming family, became in 2015 the first Nigerian to head the bank, one of the world’s five biggest multilateral lenders and an important but often unseen player in economic development.
He gained continent-wide recognition last October when the AfDB secured $115 billion (105 billion euros) in funding pledges, a move that doubled its capital and cemented its triple-A credit rating.
The AfDB has estimated that the continent could lose at least $173.1 billion in GDP in 2020 and $236.7 billion in 2021 as a result of the economic fallout from the COVID-19 crisis.
The bank has moved swiftly in response, setting up a coronavirus funding mechanism in April of up to $10 billion.
The number of shareholders in the AfDB rose to 81, Adesina said, with the admission of Ireland. Fifty-four shareholders are African, while the others are from the Americas, Asia and Europe
The Transmission Company of Nigeria (TCN) has reported its seventh partial grid collapse in 2024. Despite the recurring issue, TCN’s General Manager of Public Affairs, Ndidi Mbah, reassured the public that efforts to restore power are well underway, with about 90% of substations receiving bulk power.
Mbah noted that the Azura Power Station initiated the grid recovery, although a minor setback occurred. However, power supply has been restored to the Abuja region and other key distribution centers. The Ibom Gas Generating Station remained unaffected, continuing to supply power to the South-South region.
An investigation into the cause of the collapse will commence once full grid restoration is achieved.
Vice President Kashim Shettima has expressed deep sorrow over the tragic tanker explosion in Jigawa State, which claimed over 100 lives. In a statement issued by his media aide, Stanley Nkwocha, Shettima, on behalf of President Bola Tinubu, extended condolences to the affected families, praying for strength and comfort in their time of grief.
Shettima assured the public that the federal government is mobilizing resources to support the injured and assist those affected. He has directed the immediate deployment of the National Emergency Management Agency (NEMA) to provide aid. The Vice President also stressed the need for a review of fuel transportation safety protocols to prevent future incidents.
In a separate statement, First Lady Oluremi Tinubu offered her condolences to Jigawa Governor Umar Namadi and the people of Jigawa, praying for peace and comfort for the families affected. She called the incident “unfortunate” and extended prayers for the recovery of the injured and the repose of the souls lost in the tragedy.
The Nigeria Customs Service (NCS) has revealed that it intercepted a total of 10,598 pieces of arms and 114,929 rounds of ammunition valued at N9.58 billion over the past six years. Comptroller General of Customs, Bashir Adewale Adeniyi, made this disclosure during a press conference on enforcement activities in Zone A.
Adeniyi highlighted that 60% of these seizures occurred in 2023, reflecting the Customs’ increased efforts to curb arms smuggling. He also mentioned that recent operations such as Operation Whirlwind and Operation Swift Sting are part of a strategic response to tackle evolving smuggling tactics.
In addition to arms seizures, the Customs CG announced the largest pangolin scale seizure since 2020, with 9,493 kg of scales confiscated in collaboration with the Wildlife Justice Commission. The joint operation led to four arrests across Kano, Kaduna, and Lagos. The NCS continues to intensify efforts against wildlife trafficking, targeting supply routes in northern Nigeria and border areas.
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