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Business News of Friday, 29 May 2015


Nigeria’s Akinwumi Adesina is new AfDB president

Nigeria’s Akinwumi Adesina has been elected as the new president of the African Development Bank (AfDB).

Adesina takes over from Dr. Kaberuka, a national of Rwanda, who has been at the helm of affairs since July 2005.

Adesina was elected at the 2015 Annual Meeting and Golden Jubilee celebrations of the AfDB ongoing in Ivory Coast.

He defeated Sufian Ahmed, Jaloul Ayed, Kordje Bedoumra, Cristina Duarte, Samura Kamara, Thomas Sakala and Birama Sidibe to commence his five-year term.

Background Minister of Agriculture and Rural Development of the Federal Republic of Nigeria

Previous position/role Vice-President (Policy and Partnerships), Alliance for a Green Revolution in Africa (AGRA)

Academic qualifications PhD in Agricultural Economics, Purdue University, USA (1988) – Awarded the Most Outstanding PhD Thesis. Masters in Agricultural Economics, Purdue University, USA (1985)

Bachelor’s degree (1st Class Honors) in Agricultural Economics, University of Ife, Nigeria (1981)