The Nigerian Presidency has strongly pushed back against recent remarks made by outgoing African Development Bank (AfDB) President, Dr. Akinwumi Adesina, who suggested that Nigerians are worse off today than they were at independence in 1960. In a response delivered via social media by Mr. Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, the Presidency described Adesina’s statement as incomplete and misleading.
Dr. Adesina had cited a drop in GDP per capita from $1,847 in 1960 to $824 in 2024 as evidence of economic decline. However, Onanuga challenged this data, clarifying that according to available historical records, Nigeria’s GDP per capita in 1960 was just $93, not over $1,800. “That figure is wildly inaccurate,” he said, adding that GDP only rose significantly in the 1970s oil boom, peaking at $3,200 in 2014 after GDP rebasing.
Onanuga emphasized that Nigeria has made tangible progress across various sectors in the last six decades:
- Education: A dramatic expansion in the number of schools at all levels.
- Healthcare: Increased availability of public and private medical facilities.
- Infrastructure: Growth in road networks and digital infrastructure.
- Telecommunications: A shift from 18,724 phone lines in 1960 to near-universal mobile access for over 200 million Nigerians.
He highlighted MTN Nigeria’s Q1 2025 report, with revenues hitting ₦1 trillion and subscriptions rising to 84 million, as an example of Nigeria’s growing economic base and market resilience, contradicting any notion of regression.
Addressing the limits of GDP per capita as a measure of well-being, Onanuga argued it fails to reflect factors such as income distribution, informal economic activity, and quality-of-life indicators like access to education and healthcare. “GDP masks many realities,” he said, urging broader metrics in evaluating national development.
The rebuttal also pointed to Nigeria’s current economic recalibration, with Onanuga asserting that GDP today is at least 50 to 100 times larger than in 1960, underscoring structural and sectoral progress.
While acknowledging challenges, the Presidency concluded that a holistic and fair analysis must recognize the significant socioeconomic transformation Nigeria has experienced since independence.