Presidency Dismisses AfDB President’s Claim That Nigerians Were Better Off in 1960

The Presidency has refuted recent remarks made by the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, asserting that Nigerians were economically better off at the time of independence in 1960 than they are today. The reaction, issued by presidential spokesman Bayo Onanuga via X (formerly Twitter) on Sunday night, described Adesina’s claims as based on faulty data and a shallow interpretation of Nigeria’s economic history.

Dr. Adesina reportedly drew on figures from Nairametrics, citing Nigeria’s GDP per capita at $1,847 in 1960 compared to $824 in 2024. The statement, which quickly gained traction across media platforms, was used to underscore perceived economic decline in the country. However, Onanuga sharply criticised the comparison, calling it a distortion of facts that ignored the broader trajectory of development.

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Presidency Disputes 1960 Economic Metrics

According to Onanuga, available historical data show that Nigeria’s GDP in 1960 stood at $4.2 billion, while the per capita income for a population of 44.9 million was approximately $93. “Not even one hundred dollars,” he emphasised, debunking the suggestion that citizens then were economically superior to today’s Nigerians.

Onanuga noted that Nigeria’s economic ascent truly began in the 1970s, following the oil boom which dramatically expanded national revenues and development capacity. “GDP did not rise remarkably until the 1970s, when crude earnings ballooned,” he explained, adding that economic context is vital when making intergenerational comparisons.

Beyond GDP Per Capita: A Broader View of Progress

A major part of Onanuga’s rebuttal focused on the limitations of GDP per capita as a standalone metric. He argued that it fails to reflect other indicators of national progress such as access to health services, education, and infrastructure.

“GDP per capita is silent on whether Nigerians in 2025 enjoy better access to healthcare, education, and transportation than in 1960,” he said, urging a more nuanced view of national development. He then highlighted various sectors where Nigeria has seen significant progress.

Marked Improvements Since Independence

The presidency pointed out numerous developments that have occurred since independence, offering a stark contrast to the situation in 1960. Onanuga cited:

• Thousands of primary, secondary, and tertiary institutions now operational across the country compared to a fraction that existed at independence.
• Widespread expansion of healthcare infrastructure and road networks.
• Exponential growth in telecommunications and digital services.

“To put things in perspective, at Independence, Nigeria had only 18,724 telephone lines for about 45 million people,” Onanuga noted. “Today, more than 200 million Nigerians have access to mobile phones and related digital services.”

Telecoms and Economic Realities

Referencing past business decisions, Onanuga recalled how Vodacom exited the Nigerian market in 1999, wrongly assuming that Nigerians couldn’t afford telecom services based on GDP figures. “That judgment turned out to be flawed. MTN and others that later entered the market laughed all the way to the bank,” he wrote.

He referenced MTN’s recent Q1 2025 financial results, which posted ₦1 trillion in revenue and over 84 million subscribers, asking how such an achievement could occur in a country purportedly worse off than it was six decades ago.

“This is clear evidence that GDP alone cannot tell the full story of Nigeria’s evolving economy,” Onanuga stressed.

Defending the Nation’s Economic Journey

Onanuga concluded by reiterating that Nigeria has made immense strides over the years, both in economic size and citizen empowerment. “No objective observer can claim that Nigeria has not made progress since 1960,” he declared. He stated that Nigeria’s current GDP is at least 50 to 100 times larger than it was at independence, reflecting real growth across sectors.

While acknowledging that Nigeria still faces major socio-economic challenges, Onanuga urged caution in comparing vastly different economic landscapes without proper context. He emphasized that the administration is awaiting updated GDP figures from the National Bureau of Statistics and remains focused on economic reform.

The rebuttal underscores growing tensions around public narratives of economic decline and national progress, particularly as Nigeria confronts inflation, currency devaluation, and a high cost of living. However, the Presidency’s message was clear: progress has been made, and historical comparisons should be handled with greater accuracy and perspective.