Presidency has faulted the President of the African Development Bank, Akinwumi Adesina, over his comment that Nigerians were better off in 1960

The Presidency has faulted the President of the African Development Bank, Akinwumi Adesina, over his comment that Nigerians were better off in 1960 than they are today.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a post on his X (formerly Twitter) handle, stated that Adesina “spoke like a politician” in the mold of the 2023 presidential candidate of the Labour Party, Peter Obi, without doing due diligence.

“Adesina spoke like a politician, in the mold of Peter Obi, and did not do due diligence before making his unverifiable statement,” Onanuga said.
It was reported that Adesina while delivering a keynote address at the 20th-anniversary dinner of Chapel Hill Denham, stated that Nigerians today were worse off than they were in 1960.

He backed his claims with data that Nigeria’s GDP per capita in 1960 was $1,847 and that it is $824 today.

Onanuga, however, countered the claim stating that the quoted figures were incorrect, adding that Nigeria’s GDP as of 1960 was $4.2 billion, and per capita income for a population of 44.9 million was $93, not $100.
He said, “A few days ago, outgoing AfDB President Akinwumi Adesina claimed that Nigerians today are worse off than in 1960, basing his conclusion on figures that do not align with available data.
“According to Nairametrics, he claimed that Nigeria’s GDP per capita in 1960 was $1,847 and that it is $824 today. The quoted figures are not correct.

“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 $93—ninety-three, not even $100.”

“Our country’s GDP did not rise remarkably until the 1970s when crude earnings ballooned. In 1970, our GDP rose to $12.55 billion.

“In 1975, it was $27.7 billion, $64.2 billion in 1980, and $164 billion in 1981. Up until 1980, per capita income did not exceed $880.

“It rose to $2187 in 1981 and dropped to $1844 in 1982. In 2014, after rebasing, it reached an all-time high of $3,200,” he added.