Presidency Counters AfDB President Adesina, Says Nigeria's Economy Has Grown 50 Times Since Independence

Presidency Counters AfDB President Adesina, Says Nigeria's Economy Has Grown 50 Times Since Independence

The Nigerian Presidency has responded to remarks made by Akinwumi Adesina, President of the African Development Bank (AfDB), who recently claimed that Nigerians are worse off now than they were in 1960. 

In a statement released by presidential spokesman Bayo Onanuga, Adesina’s assertion was described as misleading and based on inaccurate data.

Adesina, citing Nairametrics, stated that Nigeria’s GDP per capita had declined from $1,847 in 1960 to $824 in 2024.

 However, Onanuga countered that the country’s actual GDP in 1960 was $4.2 billion with a per capita income of just $93, given a population of 44.9 million at the time.