The Nigerian presidency has responded to recent claims by outgoing African Development Bank (AfDB) President, Dr. Akinwumi Adesina, who suggested that Nigerians are worse off today than they were in 1960.
The response, issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, contests the accuracy of Adesina’s data and challenges the conclusion drawn from it.
According to Adesina, Nigeria’s GDP per capita in 1960 stood at $1,847, while it is $824 today. However, the presidency argues that these figures are factually incorrect and misleading.
“According to available data, Nigeria’s GDP in 1960 was $4.2 billion, and the per capita income for a population of 44.9 million was $93, not $1,847,” Onanuga stated. “Our GDP only began to rise significantly in the 1970s due to increased crude oil revenues.”
He went on to outline that Nigeria’s GDP reached $12.55 billion in 1970, $27.7 billion in 1975, $64.2 billion in 1980, and peaked at $164 billion in 1981. Notably, per capita income only exceeded $880 in 1981, when it climbed to $2,187, before falling to $1,844 in 1982. In 2014, following a rebasing exercise, it hit a historical high of $3,200.
Read Also: Gov Yusuf Denies N2bn Monthly Payout to Kwankwaso, Declares loyalty to Kwankwasiya Movement
The Presidency stressed that GDP per capita alone is an inadequate metric to determine the quality of life or standard of living. “GDP does not measure wealth distribution, income inequality, the informal economy, or improvements in social infrastructure like health, education, and transportation,” he said.
Highlighting the flaws in relying solely on GDP per capita, the presidency noted that compared to 1960, Nigeria now has more schools, medical facilities, better transportation networks, and broader digital connectivity. “At Independence, Nigeria had just 18,724 operational phone lines for 45 million people. Today, over 200 million Nigerians have near-universal access to mobile phones and internet services.”
Referencing a cautionary tale from 1999/2000 when telecom giant Vodacom was advised against entering the Nigerian market due to perceived low GDP figures. “They believed Nigerians were too poor for GSM services. But MTN and others who ventured in proved them wrong, showing that GDP alone doesn’t reflect economic reality.”
MTN, for example, declared over N1 trillion in revenue in Q1 2025 and now serves 84 million voice and data users, a stark contrast to 1960’s limited telecommunication reach.
“No objective observer can say Nigeria hasn’t progressed since 1960. Our GDP is now at least 50 to 100 times greater than it was at Independence,” Onanuga concluded, adding that Nigerians today enjoy broader access to services and amenities that were unimaginable six decades ago.
The presidency emphasized that Dr. Adesina should consider the full picture, including the informal economy and socio-economic advancements, before making sweeping claims about the nation’s progress or lack thereof.
