The Presidency has dismissed comments made by African Development Bank President, Dr. Akinwumi Adesina, that Nigerians were better off in 1960 than they are today. In a statement posted on X (formerly Twitter), Special Adviser to the President on Information and Strategy, Bayo Onanuga, accused Adesina of making inaccurate claims based on faulty data and presenting a one-sided view of Nigeria’s economic history.
Onanuga compared Adesina’s remarks to those of opposition figures, saying the AfDB president failed to verify his data before asserting that GDP per capita has declined from $1,847 in 1960 to $824 today. According to Onanuga, Nigeria’s GDP in 1960 was $4.2 billion, with a per capita income of just $93. He noted that significant growth only began in the 1970s with the oil boom, and that per capita income didn’t exceed $880 until 1980.
He further argued that GDP per capita is an inadequate measure of living standards, as it overlooks factors like access to education, healthcare, infrastructure, and income inequality. Onanuga pointed out that Nigeria now has far more schools, hospitals, roads, and widespread access to mobile phones and digital services than it did in 1960.
He concluded by asserting that Nigeria’s economy today is far larger and more complex than at independence, urging Adesina to consider the broader picture before making sweeping judgments.
