ABUJA, Nigeria — Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, has publicly challenged Akinwunmi Adesina, outgoing president of the African Development Bank (AfDB), saying Nigerians are not worse off today than they were at independence in 1960. Onanuga’s statements came after Adesina claimed that Nigeria’s GDP per capita has plummeted from $1,847 in 1960 to $824 today.
In a detailed response shared on social media, Onanuga criticized the accuracy of Adesina’s figures, asserting that the economic data cited do not reflect Nigeria’s true economic progress over the last 65 years. He stated, ‘According to available data, our country’s GDP was $4.2 billion in 1960, and per capita income for a population of 44.9 million was only $93—not even one hundred dollars.’
Onanuga elaborated that Nigeria’s economy did not start to grow significantly until the oil boom of the 1970s, when GDP reached $12.55 billion by 1970 and $164 billion by 1981. ‘Per capita income did not exceed $880 until 1980. It shot up to $2,187 in 1981 before dropping to $1,844 in 1982,’ he said.
Adesina’s comments came during the 20th anniversary of Chapel Hill Denham, where he highlighted Nigeria’s economic challenges, including dependence on oil and underinvestment in critical sectors. He urged for a break from the cycle of underdevelopment, stating, ‘Underdevelopment should not be accepted as our destiny.’
In contrast to Adesina’s assertions, Onanuga emphasized that a simple measure of GDP per capita is inadequate for assessing the quality of living in Nigeria. He argued that improvements in healthcare, education, and infrastructure must be accounted for. ‘GDP per capita does not tell us whether Nigerians have better access to healthcare, education, and transportation than in 1960,’ he said.
He pointed to the rise in the number of schools, medical facilities, and road networks over the decades as fundamental indicators of progress. ‘Compared to 1960, Nigeria today has more primary, secondary, and tertiary schools. We have more medical facilities, both private and public. Over 200 million Nigerians now have access to mobile phone services,’ Onanuga added.
Furthermore, Onanuga criticized how GDP figures often overlook the informal economy, which he said is substantial in Nigeria. ‘Our GDP does not accurately reflect economic activities or distribution of wealth. It masks the reality of many Nigerians who partake in informal sectors,’ he explained, highlighting that improvements in quality of life are evident. ‘No objective observer can claim that Nigeria has not made progress since 1960,’ he concluded, asserting that the economy might be at least 50 to 100 times larger than it was at independence.
As Nigeria prepares to recalibrate its GDP data to include significant sectors like the digital economy and creative industry, the conversation about economic progress remains ongoing. The presidency looks forward to showcasing a more accurate picture of Nigeria’s economy through this update.
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