Nigerian Presidency Counters AfDB’s Adesina: “Nigerians Not Better Off in 1960s”
Nigerian Presidency Clashes with AfDB’s Adesina Over “1960s Wealth” Claim The Nigerian Presidency has sharply criticized outgoing African Development Bank (AfDB) President Dr. Akinwumi Adesina for asserting that Nigerians enjoyed higher economic prosperity at independence in 1960 than today. In a rebuttal on social media platform X (formerly Twitter), Presidential Adviser Bayo Onanuga labeled the claim “misleading” and challenged its factual basis, sparking a heated debate over Nigeria’s economic trajectory. The GDP Debate: 1,847vs.1,847vs.93 Per Capita Adesina had cited Nigeria’s GDP per capita decline from 1,847in1960∗∗to∗∗1,847in1960∗∗to∗∗824 in 2024 as evidence of regression. However, Onanuga countered with historical data: 1960 GDP: 4.2billionfor44.9millionpeople→∗∗4.2billionfor44.9millionpeople→∗∗93 per capita** (not $1,847). Post-Independence Growth: Economic expansion surged in the 1970s with oil revenues, peaking at $3,200 per capita in 2014 after GDP rebasing. “No objective observer can claim Nigeria has not progressed since 1960. Our GDP is now at least 50 times larger,” Onanuga argued. Beyond GDP: Measuring Nigeria’s Socioeconomic Progress The […]