ABUJA, Nigeria, Oct. 27, 2026 — Former African Development Bank President Akinwumi Adesina on Tuesday praised President Bola Tinubu’s economic reforms, saying they were beginning to produce results despite the financial hardship experienced by many Nigerians.
Adesina spoke after meeting Tinubu at the State House in Abuja, where he briefed the president on his decade-long leadership of the African Development Bank and the institution’s financial support for Nigeria.
The former AfDB chief said the administration’s removal of fuel subsidies and unification of foreign exchange rates were difficult but necessary measures that had begun to improve the country’s economic outlook.
“These are very, very important, difficult reforms, but they are beginning to bear some fruit, quite some fruit,” Adesina said.
He pointed to increased foreign exchange availability, renewed interest from portfolio investors and declining inflation as indications of progress.
“If you look at it, you have a lot more foreign exchange available today. You have a lot of portfolio investors that are coming into the country. You have inflation trending downwards,” he said.
“Prices are still a bit high, but inflation is trending downwards.”
Adesina also cited what he described as improving international perceptions of Nigeria, including stable and positive outlooks assigned by some credit rating agencies.
His comments come amid continuing debate over the impact of Tinubu’s economic policies, particularly the removal of petrol subsidies and changes to the foreign exchange market, which have contributed to higher living costs for households and businesses.
While the government has defended the measures as necessary to address longstanding economic imbalances, Nigerians have faced increased transportation, food and energy costs since the reforms began.
Adesina calls for economic transformation
Adesina said Nigeria needed to build on macroeconomic stabilisation by pursuing structural reforms capable of delivering stronger growth, employment and improved living standards.
He said the next stage of the government’s economic programme should focus on translating financial and monetary reforms into broader economic prosperity.
The former AfDB president described stabilisation as only the beginning of the work required to transform Nigeria’s economy.
He said Tinubu recognised the importance of moving beyond immediate economic adjustments toward structural transformation and sustainable growth.
Former AfDB chief offers to serve
Adesina also expressed his willingness to support the Tinubu administration in any capacity, stressing that his offer was motivated by his commitment to Nigeria rather than an interest in securing a government appointment.
“And I told the president, I’m back at home, here to help and ready to help. It’s my country. I love my country, and I’m ready to help,” he said.
He added that he was prepared to contribute his experience in economic development, agriculture and international finance wherever the government considered it useful.
“I’m not looking for a job. I’m not looking for anything. It’s my country. I have a duty, an obligation, and a responsibility to do so, and I will,” Adesina said.
His remarks follow the completion of his two five-year terms as president of the African Development Bank in August 2025.
AfDB provided $7 billion to Nigeria under Adesina
During the meeting, Adesina also highlighted the development bank’s investments in Nigeria during his leadership.
He said the AfDB provided approximately $7 billion in financing to Nigeria between 2015 and 2025, accounting for about 63% of the bank’s total financing to the country since it began operations there in 1971.
The funding supported development initiatives across sectors including infrastructure, agriculture and economic development.
Adesina led the AfDB from 2015 until August 2025, becoming one of the institution’s most prominent figures during a period of increased emphasis on infrastructure financing, agricultural development and regional economic integration.
He was succeeded in September 2025 by Mauritania’s Sidi Ould Tah.
Before his appointment to the AfDB, Adesina served as Nigeria’s minister of agriculture under former President Goodluck Jonathan.
His meeting with Tinubu marks a return to discussions about Nigeria’s economic development following his departure from the continental development finance institution.
Adesina did not announce any formal government role following the meeting.
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