Liberian President Joseph Nyuma Boakai convened a historic joint session of his entire government to honor and receive insights from African Development Bank (AfDB) President Dr. Akinwumi Adesina.
President Boakai lauded Adesina for his transformative decade at the helm of Africa’s premier development finance institution, as Adesina nears the end of his term in August 2025.
The expanded cabinet meeting, held on Tuesday, July 22, at the Ellen Johnson Sirleaf Ministerial Complex in Monrovia, included executive ministers, legislative leaders, the Chief Justice, and heads of state-owned enterprises. The event served as both a celebration of the enduring partnership between Liberia and the AfDB and a crucial platform for Dr. Adesina to share his extensive leadership experience.
“You have shown the world that bold ideas, when combined with clear vision and determination, can produce extraordinary results,” President Boakai declared, emphasizing that “through your leadership, the African Development Bank has invested in real solutions that touch lives every day.” The Liberian President highlighted the significance of the occasion, noting, “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.”
A legacy of investment and empowerment
In his compelling keynote address titled “Liberia: Arise, and Shine!”, Dr. Adesina underscored the Bank’s deep-rooted partnership with Liberia, which has seen $1.02 billion in investments across 72 projects since 1967. Key achievements include:
Nearly 2,500 km of electricity transmission lines, connecting Liberia to the grids of Côte d’Ivoire, Sierra Leone, and Guinea. The Liberia Energy Efficiency and Access Project, which provided nearly 40,000 new grid connections. 177 km of new roads, notably the transformational Fish Town-Harper and Karloken to Fish Town corridors.
A significant highlight of the event was the launch of the Liberia Youth Entrepreneurship Investment Bank (YEIB). This flagship $17 million initiative, part of the AfDB’s Youth in Africa strategy, makes Liberia the first African nation to establish such a dedicated youth-focused financial institution. The YEIB aims to equip young Liberians aged 18-35 with the necessary tools and capital to drive national development through entrepreneurship.
President Boakai described the Bank’s portfolio as “more than numbers on paper,” stating, “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.”
Adesina’s call for transformational governance
Drawing from his extensive experience as Nigeria’s former Minister of Agriculture and his decade leading the AfDB, Adesina presented the Liberian cabinet with a 7-point framework for transformational governance. This framework emphasized setting clear and ambitious goals, ensuring measurable results, promoting teamwork and accountability, and reforming key institutions, particularly 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 advised. “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 advocated for a “One Government approach” and suggested establishing a presidential awards program to “recognize and incentivize inter-agency collaboration,” drawing parallels with successful models at the African Development Bank.
Dr. Adesina powerfully urged Liberia to unlock greater value from its abundant resources. “With your vast natural resources, Liberia has no business being poor,” he asserted. “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 stressed the importance of technical and vocational training, particularly given that 60 percent of Liberia’s population is under 35. This was in response to Education Minister Jarso Maley Jallah’s inquiry about strengthening entrepreneurship through the education system.
Responding to a question from Minister of Information, Cultural Affairs and Tourism Jerolinmek Piah on achieving fiscal targets, Adesina urged the government to address revenue leakages, noting that Africa loses an estimated $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, commended Adesina’s visionary leadership and called for sustained investments in solar power to unlock Liberia’s industrial potential.
As a low-income and transition state, Liberia continues to benefit from the African Development Fund (the Bank’s concessional lending arm), the Transition Support Facility, and the Nigeria Trust Fund. Liberia is also part of the inaugural group of countries developing 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 Dr. Adesina with a Presidential Pin of Honour. Adesina had previously received Liberia’s highest national honor – 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 concluded. “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 key AfDB officials, including Director General for West Africa Lamin Barrow, Executive Director for Liberia, Sierra Leone, The Gambia, Ghana and Sudan Rufus Darkortey, and Acting Country Manager Foday Yusuf Bob.
Liberia’s historical ties with the African Development Bank date back to the institution’s founding, with Liberian official Romeo Alexander Horton serving as the pioneer Chairman of the Committee of Nine that established the Bank in 1964.
ABJ/APA