AfDB President candidate and Nigeria's Agriculture Minister Akinwumi Adesina wants to boost private sector lending at the regional bank

Akinwumi Adesina, Nigeria’s Agriculture Minister, is on the shortlist for the position of President of the African Development Bank (AfDB).

The African Development Bank should increase private sector lending to curb widening inequality on the continent, according to Dr. Akinwumi Adesina, Nigeria’s candidate to be the next president of the lender.

Adesina, Nigeria’s minister of agriculture, is vying with seven other candidates to replace Donald Kaberuka of Rwanda, who is due to step down in May after a decade leading the Ivory Coast-based organization.

While economic growth has averaged about 6 percent across Africa in the past decade, the expansion failed to create jobs for swelling ranks of unemployed youth, something that is adding to political instability in the region, Adesina said in an April 14 interview in New York.

Read more: Nigeria’s AfDB Candidate Wants to Boost Private Sector Lending – Bloomberg Business.