From Juliana Taiwo-Obalonye, Abuja
The Nigerian Presidency has rejected claims by outgoing African Development Bank (AfDB) President Dr Akinwumi Adesina that Nigerians are worse off economically than in 1960, calling his figures inaccurate.
Adesina claimed Nigeria’s GDP per capita was $1,847 in 1960, falling to $824 today, indicating declining living standards.
Presidential spokesperson Bayo Onanuga countered, stating, “According to available data, our country’s GDP was $4.2 billion in 1960, and per capita income for a population of 44.9 million was $93—not even one hundred dollars.”
He noted GDP growth surged in the 1970s with oil earnings, reaching $12.55 billion in 1970, $27.7 billion in 1975, and $164 billion in 1981. Per capita income peaked at $3,200 in 2014 after rebasing.
Onanuga criticised Adesina’s reliance on GDP per capita, saying, “It is a poor tool for assessing living standards,” as it overlooks wealth distribution, the informal economy, and access to services. He noted improvements since 1960, including more schools, roads, and medical facilities. “At Independence, we had 18,724 phone lines for 45 million people. Over 200 million Nigerians now enjoy near-universal access to mobile phones and digital services,” he added.
Citing telecom growth, Onanuga noted MTN’s success despite initial doubts about Nigeria’s market in 1999, with over 84 million subscribers today.
He concluded, “No objective observer can claim that Nigeria has not made progress since 1960. Our GDP is at least 50 times, if not 100 times, higher than at Independence.”
The Presidency urged a broader view of Nigeria’s progress beyond GDP metrics.