Former Nigeria Agriculture Minister Akinwumi Adesina formally assumed office as the 8th elected President of the African Development Bank Group (AfDB) on Tuesday, September 1, 2015.

Adesina said the AfDB had risen to its present level through the efforts of many great men and women, including members of the Board of the Governors, the Board of Directors, the past Presidents of the Banks, and the dedication of its staff over 50 years.

“We will build stronger partnerships for impact – for the private sector, civil society and academic institutions, multilateral and bilateral development agencies. We will advance Africa’s priorities, as envisaged by the Founding Fathers of the Bank. We will be a strong voice for Africa, positioning and building support for Africa in the global environment,” he said.

Adesina said that the Bank will launch a New Deal on Energy for Africa: “We must light up and power Africa. Energy is the engine that powers economies.”

He also stressed the need to develop the private sector to drive industrialization of the continent, create employment for the young, empower the rural population and women, and lift millions out of poverty.

He laid down five priorities that will drive the Bank’s work as it implements its current 2013-2022 Strategy: “Light up and Power Africa. Feed Africa. Integrate Aric. Industrialize Africa. Improve quality of life for the people of Africa.”

“We will build a highly competitive, world-class, knowledge-driven Bank, to provide top-notch policy and advisory services to countries and the private sector. We will become a true development institution with measurable impacts on the lives of Africans,” he said.

Adesina added: “Let us rededicate to a greater Africa. An Africa with prosperous, sustainable and inclusive growth – one that is peaceful, secure and united, regionally integrated and globally competitive. A continent filled with hope, opportunities, liberties and freedom, with shared prosperity for all. An Africa that is open to the world, one that Africans are proud to call home.”