Liberia salutes African Development Bank President Adesina in landmark Government session
'With your vast natural resources, Liberia has no business being poor.' — Adesina
Liberian President Joseph Nyuma Boakai convened the full spectrum of his government leadership to hear from African Development Bank President Dr. Akinwumi Adesina (www.AfDB.org), whom he lauded for a transformative decade at the helm of Africa's premier development finance institution.
The expanded cabinet meeting, held Tuesday 22 July at the Ellen Johnson Sirleaf Ministerial Complex in Monrovia, brought together all three branches of the Liberian government: executive ministers, legislative leaders, the Chief Justice, and heads of state-owned enterprises. The event served as both a celebration of partnership and a platform for Adesina to share leadership insights as he nears the end of his term in August 2025.
'You have shown the world that bold ideas, when combined with clear vision and determination, can produce extraordinary results,' President Boakai declared. 'Through your leadership, the African Development Bank has invested in real solutions that touch lives every day.'
Underscoring the gravity of the occasion, the Liberian president added: "The fact that all three branches of our government are represented speaks volumes about the value we place on your visit and the respect we have for your leadership and contributions.'
In his rousing keynote address titled "Liberia: Arise, and Shine!", Dr. Adesina reflected on the Bank's enduring partnership with Liberia, which has resulted in $1.02 billion in investments across 72 projects since 1967.
Key achievements include nearly 2,500 km of electricity transmission lines connecting Liberia with Côte d'Ivoire, Sierra Leone, and Guinea; the Liberia Energy Efficiency and Access Project, which delivered nearly 40,000 new grid connections; and 177 km of new roads including the transformational Fish Town-Harper and Karloken to Fish Town corridors.
A central highlight of the event was the launch of the Liberia Youth Entrepreneurship Investment Bank (YEIB), a flagship $17 million initiative under the African Development Bank's Youth in Africa strategy. Liberia becomes the first African country to establish the dedicated youth-focused financial institution, aimed at equipping young Liberians aged 18-35 with the tools and capital to drive national development through entrepreneurship.
President Boakai described the Bank's portfolio as 'more than numbers on paper.'
'They are roads that connect our communities, energy that lights homes and businesses, and agriculture projects that strengthen food security and create income for our farmers,' he said.
Drawing from his experience as Nigeria's former Minister of Agriculture, and his decade-long leadership of the Bank, Adesina offered the Liberian cabinet a 7-point framework for transformational governance: setting clear and ambitious goals, ensuring measurable results, promoting teamwork and accountability and reforming institutions, especially the civil service and judiciary.
'Don't just blow the whistle, use your yellow card or red card. There is no need for rules in a soccer game if the referee never uses the yellow card or the red card,' Adesina said. 'You cannot spend time baby-sitting poor performers. The public is eager for results and time is not on your side. So, be firm. Reward performers. Dispense with non-performers.'
He recommended the adoption of a 'One Government approach', as well as the establishment of a presidential awards program to 'recognize and incentivize inter-agency collaboration'; drawing from similar models at the African Development Bank.
The Bank Group President urged the country to unlock greater value from its abundant resources. "With your vast natural resources, Liberia has no business being poor,' he stated. 'The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth.'
During a Q&A session, Adesina emphasized the importance of technical and vocational training, citing that 60 percent of Liberia's population is under the age of 35. He was responding to Education Minister Jarso Maley Jallah who inquired about strengthening entrepreneurship through the education system.
Responding to a question from the Minister of Information, Cultural Affairs and Tourism, Jerolinmek Piah on achieving fiscal targets, Adesina urged the government to plug revenue leakages, noting that Africa loses $88 billion annually to illicit financial flows. "Make your country investable: invest in transparency, rule of law, create the right environment, provide incentives," he added.
Sannah Ziama, a local investor, praised Adesina's visionary leadership and called for sustained investments in solar power to unlock Liberia's industrial potential.
As a low-income country and transition State, Liberia continues to benefit from the African Development Fund, the Bank's concessional lending arm, as well as the Transition Support Facility, and the Nigeria Trust Fund.
Liberia is also part of the inaugural group of countries that have developed energy compacts under the Mission 300 program, a joint initiative of the African Development Bank and the World Bank to deliver electricity to 300 million Africans by 2030.
In recognition of his exceptional contributions, President Boakai presented Adesina with a Presidential Pin of Honour. Adesina had previously received Liberia's highest national honour – the Order of the Star of Africa, Grade of Grand Band – in 2018.
'Dr. Adesina, as you prepare to move on from this chapter, I want you to know that your legacy in Liberia is strong and enduring, President Boakai said. 'The programs you have championed will continue to make an impact for years to come. Thank you for your faith in Liberia's potential, and thank you for investing in our people, especially our youth.'
Adesina was accompanied by the Bank's Director General for West Africa, Lamin Barrow; Bank Executive Director for Liberia, Sierra Leone, The Gambia, Ghana and Sudan, Rufus Darkortey; and Acting Country Manager, Foday Yusuf Bob.
Liberia's historical connection with the African Development Bank dates back to the institution's founding, when Liberian official Romeo Alexander Horton served as the pioneer Chairman of the Committee of Nine that established the Bank in 1964.
Read Dr. Adesina's address here (https://apo-opa.co/4maNUla).
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contacts:
Natalie Nkembuh and Tolu Ogunlesi
Communication and External Relations
media@afdb.org
About the African Development Bank Group:
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org
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