‘Adesina’s Claims Misleading, Like Peter Obi’s’ – Onanuga Counters AfDB President on GDP
Bayo Onanuga, Special Adviser Information and Strategy to President Tinubu, has faulted outgoing African Development Bank President Akinwumi Adesina over his recent remarks that Nigerians are worse off today than in 1960, describing the claim as “misleading” and politically motivated.
In a statement released on Monday, Onanuga said, “Adesina spoke like a politician, in the mould of Peter Obi, and did not do due diligence before making his unverifiable statement.”
He disputed the figures Adesina reportedly cited—claiming Nigeria’s GDP per capita in 1960 was $1,847 and just $824 today—saying, “The quoted figures are not correct. In 1960, Nigeria’s GDP was $4.2 billion, and per capita income for a population of 44.9 million was $93—ninety-three, not even one hundred dollars.”
Onanuga added that GDP only began to rise significantly in the 1970s due to oil earnings. He noted that per capita income did not exceed $880 until 1980 and reached its highest point of $3,200 in 2014 after a GDP rebasing.
He argued that GDP per capita is “a poor tool for assessing living standards,” as it “masks many activities in a country’s economy” and fails to capture wealth distribution, the informal economy, or access to services.
Citing Nigeria’s growth in education, telecoms, and infrastructure, Onanuga noted, “Over 200 million Nigerians now enjoy near-universal access to mobile phones,” compared to fewer than 20,000 telephone lines at independence.
“No objective observer can claim that Nigeria has not made progress since 1960,” he said, pointing out that the MTN telecom boom, despite early market doubts, is evidence that “GDP figures alone do not provide a complete picture.”
