GARLANDS FOR ORAMAH AND ADESINA

They are both worthy role models for our young professionals

The stellar performances of two illustrious Nigerians as heads of Africa’s foremost multilateral development financial institutions evoke a sense of national pride. Benedict Oramah, the outgoing President of African Export-Import Bank (Afreximbank) and Akinwumi Adesina, the outgoing President of the African Development Bank (AfDB) have left indelible footprints on both institutions, transforming them from modest organisations to global brands with solid financial structures. The stewardships of the duo have also become a reassurance that Nigeria is not bereft of quality human manpower who can hold their own anywhere in the world, given the enabling environment. They are worthy role models for our young professionals.

Incidentally, both Oramah and Adesina were the first Nigerians to head the continental institutions. They are also completing their assignments at about the same period. While Adesina’s decade-long tenure as AfDB President ended in May 2025, Oramah’s just came to an end last weekend with the conclusion of the 32nd Annual General Meetings of Afreximbank held in Abuja. For Oramah, who was conferred with the nation’s second highest honour – Grand Commander of the Order of the Niger (GCON) by President Bola Tinubu, his headship of Afreximbank saw the bank growing its assets from $5 billion to over $37 billion within a short period. As the president noted in his tribute, Oramah’s leadership saw the bank’s vital roles in Africa’s COVID-19 pandemic response, in driving industrialisation, supporting the African free trade area, and the continent’s creative economy.

It is also noteworthy that under Oramah, the Pan-African trade institution mobilised over $140 billion trade and development in the last decade alone. According to Tinubu, the conferment of the national honour was in recognition of a decade of transformative leadership by Oramah “who has steered Afreximbank into becoming Africa’s foremost trade and development institution.” The Minister of Finance and Coordinating Minister of the Economy, Wale Edun also underscored Afreximbank’s pivotal role in the country, stating that it had financed various projects in excess of $50 billion.

Some of Oramah’s signature projects in Nigeria include, among several others, the $120 million African Trade Centre in Abuja, designed to promote intra-African trade and investment, and the $750 million state-of-the-art African Medical Centre of Excellence Abuja, specialising in oncology, cardiology, and hematology. While the national honour on Oramah is commendable for his sterling representation of Nigeria and performance, a more fitting recognition would be for him to be given an opportunity to serve his country so he could add value to our national development.

This same is applicable to Adesina. Considered one of the top performing ministers under the administration of former President Goodluck Jonathan when he held the agriculture portfolio, Adesina replicated the same excellence at the AfDB. His leadership was defined by bold vision and decisive action. Remarkably, the bank’s capital base grew from $93 billion to a staggering $318 billion—an expansion widely regarded as one of the most remarkable in the institution’s history. The bank maintained its prestigious AAA credit rating throughout his tenure, a testament to strong financial stewardship and strategic clarity. His tenure also immensely benefited Nigeria, with investments running into billions of dollars and budget support facilities to help navigate fiscal deficits.

Both Oramah and Adesina are national treasures who have not masked their patriotic streaks. They have become global icons who served multilateral institutions with integrity, devotion and passion. They are also worthy ambassadors of Nigeria. But the sterling performances of both men in their international portfolios also raises a critical question about Nigeria itself. How come a nation so endowed still suffers from the lack of basic economic competence in its domestic affairs?

Nigeria needs to quickly resolve this embarrassing contradiction fairly quickly in order to make progress.