Presidency Counters AfDB President’s Claim on Nigeria’s Economic Progress
Adesina’s Comments Spark Debate on Nigeria’s Development Since Independence
The Nigerian Presidency has strongly refuted recent statements by Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), suggesting Nigerians are worse off today than in 1960.
Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, challenged Adesina’s assessment in a detailed response on social media platform X (formerly Twitter). The presidential aide argued that the AfDB chief’s conclusions were based on “figures that do not align with available data.”
Economic Growth Since Independence
The Presidency presented historical economic data to counter Adesina’s claims:
- Nigeria’s GDP was $4.2 billion in 1960 with per capita income of $93
- GDP rose to $12.55 billion in 1970
- By 1981, GDP reached $164 billion with per capita income of $2,187
- After rebasing in 2014, per capita income peaked at $3,200
“No objective observer can claim that Nigeria has not made progress since 1960,” Onanuga stated. “Today, as we await the NBS’s recalibration of our GDP, we can comfortably say without contradiction that it is at least 50 times, if not 100 times, more than it was at Independence.”
Beyond GDP: Measuring True Progress
The presidential adviser argued that GDP per capita alone is an inadequate measure of living standards, highlighting several areas where Nigeria has made significant progress:
- Expansion of educational institutions at all levels
- Improved road networks and transportation infrastructure
- Increased access to healthcare facilities
- Telecommunications revolution – from 18,724 phone lines in 1960 to near-universal mobile access today
“GDP masks many activities in a country’s economy,” Onanuga explained. “It neither discloses wealth distribution or income inequality nor accounts for the informal economy, which experts have said is enormous.”
Call for Comprehensive Assessment
The Presidency emphasized that any evaluation of Nigeria’s progress should consider multiple factors beyond economic metrics:
“GDP per capita is silent on whether Nigerians in 2025 enjoy better access to healthcare, education, and transportation, such as rail and air transport, than in 1960,” Onanuga noted.
While acknowledging Adesina’s expertise, the Presidency suggested the AfDB president should have conducted more thorough analysis before making his claims about Nigeria’s development trajectory.
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