metro

Presidency tackles AfDB over Nigeria better in 1960 claim

Published

9 months ago

May 5, 2025

Dr Akinwumi Adesina, President, African Development Bank, AfDB

Presidency tackles AfDB over Nigeria better in 1960 claim

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

Responding via a post on his verified X handle, Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, criticized Adesina’s assertion as being based on inaccurate data and a limited grasp of Nigeria’s long-term economic trajectory.

Adesina had reportedly claimed that Nigeria’s GDP per capita had dropped from $1,847 in 1960 to $824 in 2024, implying a deterioration in living standards. But Onanuga countered this, stating: “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 one hundred dollars.”

He added that Nigeria’s economic growth began accelerating in the 1970s, largely due to rising oil revenues, with the GDP reaching $164 billion by 1981.

“Up until 1980, per capita income did not exceed $880. It rose to $2,187 in 1981 and dropped to $1,844 in 1982. In 2014, after rebasing, it reached an all-time high of $3,200,” he said.

But beyond statistics, Onanuga emphasized that GDP per capita alone is an inadequate measure of living standards.

“GDP per capita is not the only criterion used to determine whether people live better lives now than in the past. Indeed, it is a poor tool for assessing living standards,” he stated.

READ ALSO:

According to him, GDP fails to account for wealth distribution, the informal economy, and quality-of-life improvements such as access to healthcare, education, and transportation, saying “GDP masks many activities in a country’s economy. It neither discloses wealth distribution or income inequality nor accounts for the informal economy, which experts have said is enormous.”

Onanuga argued that significant progress has been made in various sectors since 1960.

“Compared with 1960, Nigeria today has more primary, secondary, and tertiary schools. We have more road networks and more medical facilities, private and public. We have phenomenal access to telephones,” he said.

Citing a striking example, he noted that at Independence, Nigeria had just 18,724 operational phone lines for a population of about 45 million.

“Over 200 million Nigerians now enjoy near-universal access to mobile phones and digital services,” he said, concluding that such advances indicate Nigerians are better off today.

He also recalled the experience of telecommunications companies in the early 2000s to illustrate the limitations of GDP data.

“When Vodacom considered entering the Nigerian market in 1999 or 2000, its consultants, using the available GDP metrics, advised against it… MTN and other companies that entered the market later proved them wrong,” Onanuga stated.

MTN, he said, remains a testament to Nigeria’s expanding consumer base and economic potential, explaining “in its first-quarter results this year, MTN declared revenue of N1 trillion and an increase of 8.2 percent in subscriptions, which took the number of its voice and data users to 84 million. Does this MTN experience correlate with a country worse off than in 1960, when we had analogue telephones and fewer than 20,000 lines?”

He concluded that any objective assessment would find that Nigeria has made enormous strides since independence.

“No objective observer can claim that Nigeria has not made progress since 1960. Today, as we await the NBS’s recalibration of our GDP, we can comfortably say without contradiction that it is at least 50 times, if not 100 times, more than it was at Independence,” Onanuga affirmed.

While acknowledging Dr. Adesina’s global stature as a respected development economist, the Presidency maintained that his recent remarks failed to capture the full story of Nigeria’s growth and transformation.

Presidency tackles AfDB over Nigeria better in 1960 claim

Related Topics:AfDB Featured Nigeria Presidency

Up Next

Farotimi threatens Afe Babalola with lawsuit over arrest, detention

Don't Miss

No place called heaven or hell, says Apostle Okoriko

metro

Court Orders DIA to Produce Cleric Accused of Coup Plot by February 18

Published

10 hours ago

February 13, 2026

Trends Admin

Sheikh Sani Abdulkadir Zaria

Court Orders DIA to Produce Cleric Accused of Coup Plot by February 18

A Federal High Court in Abuja has directed the Defence Intelligence Agency (DIA) to produce Sheikh Sani Abdulkadir Zaria, an Islamic cleric accused of plotting a coup against President Bola Tinubu’s government, before the court on February 18, 2026. The order follows a fundamental rights enforcement suit filed on behalf of the cleric challenging the legality of his detention.

Justice Peter Lifu emphasised that in a democratic society, all security and intelligence agencies are subordinate to civil authority, noting that every citizen is entitled to protection under Sections 36(1), (5), and (6) of the 1999 Constitution. He also reminded authorities that Nigeria’s commitments to international human rights conventions require strict adherence to lawful detention procedures.

READ ALSO:

The suit, filed by Sheikh Zaria’s legal team led by Sunusi Musa (SAN), Abdul Aliyu (SAN), and Mohammed Sheriff, names the DIA, the Economic and Financial Crimes Commission (EFCC), the Attorney General of the Federation and Minister of Justice, and Jaiz Bank Plc as respondents. The lawyers are seeking either the cleric’s release or an explanation for his continued detention.

During Thursday’s hearing, DIA counsel I.O. Odom Esq informed the court that the cleric was being held on behalf of the Defence Headquarters, but could not provide a valid detention order. The EFCC’s counsel, M.C. Odimbaiwe Esq, supported this position. Justice Lifu adjourned the matter and set February 18 for the DIA to produce Sheikh Zaria or justify his detention, warning that failure to do so could influence the outcome of the rights enforcement case.

Family sources linked Sheikh Zaria’s detention to an ₦2 million gift sent to the cleric’s account by an adherent connected to a suspect in the broader coup allegation. Since December 11, 2025, the cleric has reportedly been held in “safe custody” without access to family or associates, prompting his lawyers to argue that his fundamental rights have been violated.

The case underscores ongoing concerns about civil liberties, human rights, and lawful detention in Nigeria, particularly in high-profile national security investigations. The court’s ruling will be closely watched as it addresses the balance between state security and individual rights.

Court Orders DIA to Produce Cleric Accused of Coup Plot by February 18

metro

End of Weekly Shutdown: Igboho Advocates Negotiation to Resolve Kanu’s Legal Battle

Published

11 hours ago

February 13, 2026

Trends Admin

Yoruba nation activist, Chief Sunday Adeyemo, popularly known as Sunday Igboho and Leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu

Leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu and Yoruba nation activist, Chief Sunday Adeyemo, popularly known as Sunday Igboho

End of Weekly Shutdown: Igboho Advocates Negotiation to Resolve Kanu’s Legal Battle

Yoruba nation activist, Chief Sunday Adeyemo, popularly known as Sunday Igboho, has called on the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, to engage in constructive dialogue with the Federal Government following the formal end of the controversial Monday sit‑at‑home directive across the South‑East region.

In a statement issued on Friday by his legal counsel, Pelumi Olajengbesi, Igboho applauded Kanu for suspending the weekly protest, which had disrupted economic and social activities in the region for over five years. The directive, first introduced in August 2021, led to periodic shutdowns of markets, offices, schools, and transport services, severely affecting local businesses and daily life.

Describing the suspension as a “thoughtful and necessary” step, Igboho noted that ending the sit‑at‑home signals a shift toward constructive engagement and could help restore stability and economic normalcy in the South‑East. He said the move represents the conclusion of a five-year period of economic disruption that has hampered growth and development in the region.

READ ALSO:

Beyond applauding the abolition of the civil disobedience measure, Igboho urged Kanu to adopt a conciliatory approach, opening channels for mediation and negotiation with the Federal Government. He emphasised that sustained dialogue could help break the deadlock surrounding Kanu’s legal battle and potentially pave the way for a political resolution to longstanding grievances.

Igboho also warned that those who profit from the destabilisation and violence in the South‑East should desist, highlighting the importance of peace for the economic recovery and prosperity of the region and the nation at large.

“This is a critical moment for the South‑East. True progress depends on dialogue, compromise, and the willingness of all parties to engage constructively,” the statement read. Igboho’s remarks reflect a growing call among activists and stakeholders for peaceful resolution and collaboration to ensure lasting stability in the region.

The end of the Monday sit‑at‑home has been welcomed by several civil society groups and business leaders, who view it as a key step toward restoring normalcy, resuming commerce, and promoting social cohesion in the South‑East.

End of Weekly Shutdown: Igboho Advocates Negotiation to Resolve Kanu’s Legal Battle

metro

EFCC Nabs Three in Borno Over Viral ₦500 Naira Mutilation Video

Published

12 hours ago

February 13, 2026

Trends Admin

The suspects were arrested following a viral video circulated on social media where they were seen cleaning mucus from their noses using N500 Naira notes

EFCC Nabs Three in Borno Over Viral ₦500 Naira Mutilation Video

The Economic and Financial Crimes Commission (EFCC) has arrested three suspects in Maiduguri, Borno State, over alleged naira mutilation following a viral social media video showing them misusing the Nigerian currency.

In a statement issued on Thursday by its Head of Media and Publicity, Dele Oyewale, the anti-graft agency disclosed that the suspects — Adam Muhammad, Muhammad Muhammad, and Bashir Musa — were apprehended by operatives of the EFCC’s Maiduguri Zonal Directorate.

READ ALSO:

According to the commission, the trio was seen in a widely circulated video cleaning mucus from their noses using ₦500 naira notes, an act described as abuse and defacement of the national currency.

The statement said the suspects were traced and arrested within the Maiduguri metropolis shortly after the video surfaced online and triggered public reactions.

They are currently being held at the EFCC’s Maiduguri detention facility while investigations continue. The commission added that the suspects would be charged to court upon the conclusion of investigations.

Under the Central Bank of Nigeria (CBN) Act, abuse, defacement, spraying, or improper handling of the naira constitutes an offence punishable under Nigerian law. The EFCC has in recent months intensified its crackdown on cases involving naira abuse and currency mutilation across the country.

The latest arrest underscores the agency’s renewed enforcement drive aimed at protecting the integrity of Nigeria’s legal tender.