Nigerian Youth Parliament

PRESS BRIEFING BY THE NIGERIAN YOUTH PARLIAMENT ON THE CURRENT AFFAIRS CONCERNING THE LEADERSHIP OF THE AFRICAN DEVELOPMENT BANK

The Nigerian Youth Parliament has been following up the issues leading to the request of an independent investigation of the President of the Africa Development Bank (AfDB) Dr Akinwumi Adesina by the United States Government on the allegations laid by unnamed “concerned staff members" of the AfDB.

Dr Akinwumi Adesina, has a 16-point allegation of bad governance and impunity laid up against him by the so called "concerned staff members" some of which are; over representation of Nigerians in the bank, questionable award of contract processes, budgetary indiscipline and a host of others which have been investigated by the appropriate authority namely, the Ethics Committee of the bank headed by Mr Takuji Yano. The President has since been acquitted of all the charges by the committee, which regarded them as unfounded and unsubstantiated.

Unfortunately, The US, in its usual manner has been successful in influencing the decision of the Board of Governors to conduct an independent investigation which is alien to the bank’s practices.

We wish to remind the Board of Governors that the promoters of this independent investigation are not just attempting to frustrate the re-election bid of Dr Adesina but to undermine the independence of Africa , Africans and Africa’s development as a whole.

Therefore, we call upon the Board of Governors to ensure that the independent probe is not compromised and unbiased as we are sure that Dr Adesina will be exonerated off all the allegations.

The Nigerian Youth Parliament stands against any attempt to impede Dr. Adesina’s integrity and his re-election efforts, as he has greatly upturned the fortune of the bank thus, bringing about unprecedented growth not just to the bank but to Africa as a whole.

The Nigerian Youth Parliament is aware of the many First Class Youth-Friendly Policies that have been put in place by the bank under the leadership of Dr Adesina. Some of which are;

1. The Jobs for Youth Initiative launched in 2016 with the bank investing over $11billion in 175 projects with its focus in sectors with high potentials for youths which are, Agriculture, Industrialisation and ICT. The initiative aims to engage 50million youths with skills to join the formal sector.

2. The Youth Entrepreneurship and Innovation Multi-Door Trust Fund (YEI-Trust Fund) launched in November 2017 with the bank securing $40million for its promotion of a policy enabling environment for youth entrepreneurship ecosystem across the African continent.

3. The launch of a Presidential Youth Advisory Group (PYAG) to amplify the voices of African youths. The PYAG provides an important platform for the bank to hear directly from youths on ways to harness the skills and ideas of African youths.
Leading and supporting the proposed establishment of Youth Entrepreneurship Investment Banks to be run by youths for youth businesses and ventures.

Also, the AfDB under the leadership of Dr Adesina has recorded tremendous successes some of which are:

1. Raising the banks capital from $93 billion to $208 billion which is the highest recorded growth since the inception of the bank in 1964.

2. Launching the Africa Investment Forum (AIF) to mobilize resources into Africa which secured $38.7 billion of investment interest in 72hours.

3. Launching, a $3 billion "Fight Covid-19" social impact bond on the International capital market at 0.75% interest rate that is listed on the London Stock Exchange, where it has been oversubscribed at $4.6 billion, amongst other achievements

These and many more are the reasons why we must support Dr Adesina. These achievements are no small feat, therefore, he deserves all the support from African leaders, Youth organizations and the like.

Dr Adesina is one who believes in Africa, catering for its needs through Agriculture. He believes in the possibility of an independent and self-sufficient Africa. With the right person like Dr Adesina at the helm of affairs, that has Africa at heart championing the African course, there is nothing we can not achieve.

We commend the President of the Federal Republic of Nigeria, His Excellency Muhammadu Buhari, GCFR who has also stood firm and reached out to his counter parts in other countries urging them to support Dr Adesina.

We also commend the Former President of the Federal Republic of Nigeria, His Excellency Olusegun Obasanjo, GCFR for his prompt action in reaching out to other former African Presidents as well as others who have supported this course. This has no doubt led to positive outcomes.

To our Fellow African Youths, Let us rise and build the Africa of our dreams, the Africa that lends and is not dependent. The Africa that is respected and has control of its affairs. There is no other continent we can call ours, therefore, let us look out for one another and protect the integrity of the African Continent. Hence, we call on African leaders, Youth led organizations and Youth leaders to support this noble course.

Africa belongs to Africans and the AfDB belongs to Africans.

God bless you
God bless the Federal Republic of Nigeria
God bless Africa

Torunana, Mary Miesindo
Chairman Committee on Banking and Finance
For:
The Nigerian Youth Parliament

Members of Edo State; Hon Daniel Uwadia, Hon Irene Ijie and Hon Abigail Aderemi discussing Youth Development with His Excellency Governor Godwin Obaseki
in his office.

The Nigerian Youth Parliament being under the tutelage of the National Assembly and funded by the Federal Ministry of Youths and Sports Development, is a non partisan umbrella body for the Nigerian Youths created in Compliance with the United Nations Charter on Youths Development and in pursuant to the resolutions of the Commonwealth Head of Government’s meeting in the Republic of Malta 2005 as a platform through which their voices could be heard on government policies that affect them directly.

The Nigerian Youth Parliament (NYP) is a Legislative and Developmental Training Institution, created to strengthen, reinforce and consolidate efforts in empowering Young People through meaningful Youth representation in driving Nigeria’s developmental agenda.

The Nigerian Youth Parliament was first Proclaimed in 2008 by the late President of the Federal Republic of Nigeria, Umaru Musa Yar’adua GCFR With Rt. Hon Luke Onofiok as the Pioneer Speaker.

The Youth Parliament sits and deliberates on matters of national importance as it affects youth development. Resolutions reached are passed as votes and proceedings to the Heads of both Chambers of the National Assembly and the President of the Federal Republic of Nigerian through the Federal Ministry of Youth and Sports Development for considerations.

The composition of the Youth Parliament is mirrored after the Nigerian Senate, that is, each Member shall represent a Senatorial District and one Member representing the Federal Capital Territory while the functions and business reflect of the Nigerian House of Representatives

The Youth Parliament adequately equips young Nigerians with leadership qualities for good governance and public administration as well as prepare them for future leadership challenges.

The Parliament also provides opportunities for the youths to project themselves in the right light and turn their dreams and potentials into realities.

The Current Assembly of the Nigerian Youth is the 4th Assembly which was inaugurated by the Minister of Youths and Sports on the 28th day of May 2019 in Edo State, saw the emergence of Rt. Hon. Mubarak Mijinyawa and Rt. Hon. Engr Aja Chioma as the Speaker and Deputy Speaker respectively to provide leadership and direction not just for the Youth Parliament but the entire Youth demography in the Nation.

Each Assembly of The Nigerian Youth Parliament runs for a period of Two Years and plenary sittings hold at least once every quarter in a parliamentary year.