Director General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has reiterated that with the right mix of policies and strategic action, Africa can position itself as a hub in global supply chains, particularly in the critical minerals sector that is becoming increasingly essential to the world economy.

She made the call in her goodwill message delivered during the closing session of the 2025 Annual Meetings of the African Development Bank (AfDB) Group held on Friday in Abidjan.

Also speaking at the event was outgoing AfDB President, Dr. Akinwumi Adesina, in his farewell speech used the occasion to express deep gratitude for the privilege of serving Africa over the past decade, describing his presidency as “the greatest honour of my life,” saying it had been a journey marked by teamwork, innovation, and transformational outcomes for the continent.

Also, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has expressed Nigeria’s commitment to deepening partnership with the African Development Bank (AfDB) under the new leadership headed by Dr. Sidi Ould Tah.

The session also featured commendations from the President of the World Bank Group, Ajay Banga, as both leaders praised Adesina’s transformative leadership, remarkable track record, and enduring impact on Africa’s development landscape.

 Okonjo-Iweala said, “We must accelerate the pace of development. We must overcome hunger, energy poverty, and joblessness, especially for our growing young population. We must industrialise the continent and provide a high standard of living for every African so that no one feels the need to migrate in search of better opportunities.

“In essence, if Africa is able to realise the “High 5s” the signature agenda of President Akinwumi Adesina during his presidency, then Agenda 2063 is within reach. I believe it is doable. We must persist, stay the course, and seize the opportunities before us.

“One such opportunity is the African Continental Free Trade Agreement (AfCFTA), which offers a unique chance to drive Africa’s development through trade, as other regions have done. Even with the current challenges facing the multilateral trading system, opportunities still abound. With the right policies, Africa can position itself as a hub in global supply chains, particularly in the critical minerals sector, which has become vitally important to the world. And I must say, some of our leaders are already seizing this opportunity.”

She emphasised that the responsibility for Africa’s development lies primarily with Africans and that while the role of development partners remains important, with aid flows diminishing, there is no alternative.

“It is well established that the continent’s development cannot rely on government resources alone. The private sector must complement and scale these efforts.”

Further felicitating with Adesina, she said: “I congratulate you, Akin. I congratulate the African Development Bank. I am personally enthusiastic about the Africa Investment Forum because it complements what we are doing at the World Trade Organisation (WTO). Our Investment Facilitation for Development Agreement aims to cut unnecessary bureaucracy and attract private capital into our member countries. So far, 127 out of our 166 members have signed on including 33 African countries, with many others poised to join. We hope the agreement will enter into force soon. It will help Africa attract the supply chain and value-added investments it urgently needs aligning perfectly with the efforts led by President Adesina and the AfDB.”

Banga also paid tribute to Adesina’s tenure, highlighting the strengthened collaboration between the World Bank and AfDB.

He said, “As your final meeting as President of the African Development Bank, you have shown remarkable vision, energy, and relentless determination. It has been an absolute privilege to learn from you and work alongside you.”

Banga recalled his first encounter with Adesina when he was still a candidate, saying that their initial meeting helped lay the groundwork for a renewed and stronger partnership between our two institutions.

He said, “What we have built over the past year is a new way of working which is focused on impact, grounded in mutual respect, and most importantly, centred on the future of Africa. We share an ambitious goal: to bring energy access to 300 million people across the continent. It is a powerful example of what is possible when multilateral development banks operate as a system, each playing to its strengths, but aligned on the outcomes.”

He stressed the urgency of translating agreements into results. “We need to show real progress real results and real opportunities for the private sector. That’s how we’ll create jobs and improve the quality of life across Africa.”

Ending on a note of deep appreciation, Banga said: “From all of us at the World Bank Group: Akin, thank you. Thank you for your leadership, your friendship, your passion, and your unwavering commitment to Africa. And thank you to everyone at the African Development Bank for your leadership and excellence. We are truly proud to be your partners.”

Outgoing President of the AfDB, Dr. Adesina, delivered an emotional farewell at the conclusion of the Bank’s 2025 Annual Meetings in Abidjan, reflecting on a decade of service marked by transformational initiatives and strong partnerships.

“This is my last Annual Meetings as President of the African Development Bank Group, after completing my two five-year terms. We are all one, with hands around the opportunities and challenges of Africa like hands around the Baobab tree,” he said.

Adesina congratulated the incoming AfDB President, Sidi Ould Tah, expressing full confidence in his leadership.

He paid tribute to the Bank’s Governors, Board of Directors, and staff for their support over the years. “You, our Governors, put the wind behind our sails. You, our Board of Directors, ensure we are sailing in the right direction. You, my staff, were exemplary. We worked as a team, achieved extraordinary results, and delivered impact never before witnessed in the Bank’s history.”

Adesina urged continued unity among shareholders to advance Africa’s development goals. “Difference may exist, priorities may change, but around Africa, let us unite. For in our togetherness lies our greatest strength. And Africa deserves your united support.”

He closed on a deeply personal note: “It has been the greatest honour of my life to serve as President of the African Development Bank and to serve Africa. I will forever value the shared moments we’ve had over the past ten years. I will keep precious memories of you all as treasures.”

Edun stated this when he met with Tah, the President-elect of AfDB on the sidelines of the Bank’s Annual Meetings in Abidjan, Cote d’Ivoire.

In a statement, the Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga, said the meeting was a courtesy call to extend warm congratulations on behalf of President Bola Ahmed Tinubu and the country.

“Dr. Tah’s hard-earned and decisive victory follows a strong show of continent-wide consensus, with Nigeria playing a pivotal role in rallying African shareholders to act in unison during the electoral process.

 “HM Edun welcomed Dr. Tah’s focus on continuity and results, and reaffirmed Nigeria’s commitment to deepening its partnership with the AfDB under his leadership.

“As the institution enters a new chapter, the Federal Government expressed its readiness to work hand-in-hand with the incoming President—not only for Nigeria’s national development, but to advance inclusive growth and shared prosperity across the African continent.

“As the AfDB embarks on a new chapter under Dr. Tah’s leadership, Nigeria looks forward to a strengthened partnership that will drive inclusive growth, shared prosperity, and continental development,” the statement added.

 Ndubuisi Francis and Nume Ekeghe

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