The Presidency has dismissed recent remarks by the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, suggesting that Nigerians are worse off today than they were at Independence in 1960.

In a statement released Sunday night, Presidential spokesperson Bayo Onanuga described Adesina’s position as based on flawed data and a narrow interpretation of Nigeria’s economic history.

Adesina had cited figures, reportedly sourced from Nairametrics, claiming that Nigeria’s GDP per capita was $1,847 in 1960, compared to $824 today.

Onanuga refuted the claim via his verified X handle @aonanuga1956, arguing that available historical data show Nigeria’s GDP in 1960 was $4.2 billion, with a per capita income of $93 for a population of 44.9 million. He noted that significant economic growth did not occur until the oil boom of the 1970s.

Citing official data, Onanuga traced GDP growth from $12.55 billion in 1970 to $164 billion in 1981. He added that per capita income remained under $880 until 1980 and peaked at $3,200 in 2014 after GDP rebasing.

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He stressed that GDP per capita alone is an inadequate indicator of citizens’ welfare, as it fails to capture factors like wealth distribution, informal economies, and access to public services.

“Compared to 1960, Nigerians today have far greater access to education, healthcare, transportation, and telecommunications,” Onanuga said.

He cited the dramatic rise in telephone access—from just 18,724 operational lines in 1960 to over 200 million mobile connections today—as evidence of progress. He also referenced how MTN’s success in Nigeria contradicted GDP-based assumptions that once discouraged investment.

Onanuga concluded that no objective observer could claim Nigeria has not advanced since Independence. He added that the forthcoming recalibration of GDP by the National Bureau of Statistics (NBS) would further underscore this growth.