Presidency Challenges Nigeria GDP Per Capita Claim

Abuja – The Nigerian Presidency disputed Akinwumi Adesina’s statement that Nigerians are economically worse off now than in 1960. Special Adviser Bayo Onanuga said Adesina’s view on Nigeria GDP per capita uses incorrect figures and shows an incomplete understanding of Nigeria’s economic progress.

Onanuga stated Nigeria’s GDP in 1960 was $4.2 billion. This meant a per capita income of $93 for its 44.9 million people then.

Data and Measure Questioned

Onanuga argued Nigeria GDP per capita is a “poor tool” for assessing living standards. He called Adesina’s conclusion flawed. Onanuga noted Nigeria’s GDP grew in the 1970s due to oil earnings. He also stated per capita income reached $3,200 in 2014 after an economic rebasing. “These facts raise questions about the source of Dr Adesina’s figures,” Onanuga said.

Nigeria’s Post-1960 Progress Stated

The Presidency asserted Nigeria has made economic progress since 1960. Onanuga suggested current GDP is likely 50 to 100 times larger than in 1960. He said Adesina “spoke like a politician…and did not do due diligence before making his unverifiable statement.” The Presidency also said Nigeria GDP per capita does not reflect improvements in healthcare, education, and transportation.

By Abdullah Korede