Onanuga Takes On AfDB President Adesina Over Claims Nigerians Are Worse Off Than In 1960

Presidential spokesperson Bayo Onanuga has faulted outgoing President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, over his recent claim that Nigerians are worse off today than they were in 1960, citing questionable data and an overly simplistic analysis of economic wellbeing.

Adesina, speaking at a public event recently, alleged that Nigeria’s GDP per capita in 1960 was $1,847 and has since declined to $824 in 2024, a figure that he used to support his assertion that living standards have deteriorated.

However, Onanuga has dismissed the data as inaccurate and misleading, challenging both the source and interpretation of the figures.

“According to available data,” Onanuga noted, “Nigeria’s GDP in 1960 was $4.2 billion with a population of 44.9 million, placing per capita income at just $93—not even $100.” He further explained that Nigeria’s GDP did not experience significant growth until the 1970s oil boom, when it reached $12.55 billion in 1970, jumped to $27.7 billion in 1975, and peaked at $164 billion in 1981. Per capita income only crossed $2,000 briefly in the early 1980s before dropping again.

More importantly, Onanuga challenged the very premise of using GDP per capita as a standalone measure of a country’s wellbeing. “GDP per capita is not a sufficient yardstick to determine whether people are better off,” he argued. “It fails to capture wealth distribution, informal economic activity, or access to vital services like healthcare, education, and transportation.”

He cited Nigeria’s dramatic improvements in infrastructure and technology as proof of progress. “In 1960, we had less than 20,000 landlines for a population of 45 million. Today, over 200 million Nigerians have near-universal access to mobile phones and digital services,” he pointed out. Onanuga also highlighted the growth in the number of schools, hospitals, and road networks across the country.

He recalled how Vodacom once declined to enter the Nigerian market in the early 2000s, based on misleading GDP assumptions. “They were told Nigerians were too poor for GSM services. MTN and others who came in later proved them wrong. Today, MTN alone declared N1 trillion in Q1 2025 revenue and boasts 84 million active users.”

The presidential aide argued that such developments disprove Adesina’s claim. “Does this experience reflect a country worse off than it was in 1960?” he asked. “No objective observer can claim Nigeria has not progressed. Our GDP is conservatively 50 to 100 times what it was at Independence.”

Onanuga concluded that Adesina’s comment lacked nuance and due diligence, likening his delivery to that of a political candidate. “Dr. Adesina spoke more like Peter Obi than an economist. He ignored the many dimensions of growth and focused only on a narrow, and faulty, metric.”

As the National Bureau of Statistics prepares to rebase Nigeria’s GDP, Onanuga maintained that any fair assessment of the country’s development must consider not only economic numbers but the broader quality of life improvements that have transformed Nigeria since 1960.