General News
FG Faults AfDB’s Adesina on Nigeria’s GDP Per Capita Figures

The Presidency has faulted claim of Akinwumi Adesina, president, African Development Bank (AfDB), on the current Nigeria’s Gross Domestic Product (GDP) per capita figures versus the level it was in 1960 when Nigeria attained independence.

Akinwumi Adesina, president, African Development Bank
The outgoing AfDB President had in a recent viral statement claimed that Nigerians are worse off today than in 1960 when Nigeria’s GDP per capita was $1847..
The AfDB President claimed that in contrast to the level of the GDP per capita at Nigeria independence, the country’s current GDP stands at $824 today, a reflection of the current rampant poverty and low human development in the country.
But in a rebuttal of the claim, the presidency, in a statement by Bayo Onanuga, the spokesperson to President Bola Ahmed Tinubu accused the AfDB President of failure to carry out proper research and speaking like a politician in his assertions.
“Adesina spoke like a politician, in the mould of Peter Obi and did not do due diligence before making his unverifiable statement,” the presidency said while faulting the claim of the AfDB President.
While countering the claim of Adesina, the presidency noted in the statement that available data indicated that Nigeria’s GDP was $4.2 billion in 1960, and per capita income for a population of 44.9 million was $93, not even one hundred dollars.
“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.
“These facts raise questions about the source of Dr Adesina’s figures,” Onanuga said.
However, the presidency also faulted the AfDB President, a former Nigerian Minister of Agriculture of making inferences on the state of poverty or human development in Nigeria solely based on the GPD per capita numbers. .
“Dr Adesina should know that 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.
“Its primary usefulness is in giving us the metrics to compare economic output in a country or between countries.
“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. It does not account for subsistence farming or income transfer from one family member to another,” the presidency said.
The Presidency also noted that GDP per capita is not reflective of the fact that Nigerians in 2025 have better access to healthcare, education, and transportation, such as rail and air transport, than in 1960.
“This premise alone suggests why Dr Adesina should not have arrived at his conclusion.
“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.
“At Independence, we had 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, indicating we are better off today than 65 years ago.”
Furthermore, the presidency noted that Nigerian policymakers know that whatever GDP figure NBS publishes may not capture our economy’s full depth and breadth as it usually excludes the greater part of the informal economy, which some pundits have said may even be more significant than the formal economy.
“This underscores why Dr. Adesina should have considered all aspects of our economy before concluding.”
“When Vodacom, a telecommunications company, considered entering the Nigerian market in 1999 or 2000, its consultants, using the available GDP metrics, advised against it.
“They believed that Nigerians were too poor to afford GSM services. However, MTN and other companies that entered the market later proved them wrong, demonstrating that GDP figures alone do not provide a complete picture of a country’s economic potential or the living standards of its people.
“MTN and other adventurers came later, and they laughed all the way to the bank. More than 20 years later, they are still laughing despite some setbacks in 2023 and 2024. 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 the number of lines was fewer than 20,000?
“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.”
General News
Interswitch Inducts 3rd Interns into Its Developer Academy

Interswitch, an integrated payments and digital commerce company, has announced the induction of the third and largest cohort of developer interns into its Developer Academy, reinforcing its long-standing commitment to building world-class technology talent and strengthening Africa’s digital ecosystem.

Selected from a pool of over 20,000 applications, the new cohort emerged through a rigorous multi-stage process involving technical assessments, and interviews. Their induction into the Developer Academy highlights both the scale of interest in software engineering opportunities in Nigeria and Interswitch’s role in nurturing the next generation of highly skilled technology professionals.
Commenting on the initiative, founder and Group Chief Executive Officer, Interswitch, Mitchell Elegbe, emphasised the importance of taking a long-term, ecosystem-driven approach to talent development.
“At Interswitch, we have always believed in the capacity to see beyond the immediate challenges and focus on long-term impact. While the migration of skilled talent remains a reality, our approach is to actively shape the outcomes by building a strong and sustainable pipeline of technology professionals.
“We are therefore committed to equipping individuals with the capabilities to contribute meaningfully to the broader technology ecosystem, locally and globally, not just for our own needs at Interswitch. In doing so, we are not only strengthening the industry but also reinforcing Nigeria’s position as a source of globally competitive engineering talent,” Elegbe said.
The 9-month programme brings together talents across key engineering tracks, including Backend Development, DevOps, Mobile Development, Frontend Engineering, and Quality Assurance.
Designed as an intensive and structured learning experience, the Developer Academy combines theoretical instruction with real-world application, equipping participants with the skills required to thrive in an increasingly global and competitive technology landscape.
Also commenting, Group Chief Human Resources Officer, Interswitch, Franklin Ali, said: “The Developer Academy reflects our long-term commitment to building talent at scale. We are equipping these young professionals not just with technical skills, but with the mindset, discipline, and adaptability required to thrive in diverse environments.
“Whether they build their careers within Interswitch, contribute to the local ecosystem, or explore global opportunities, they represent the strength and potential of Nigerian talent and carry forward the standard of excellence we are committed to building.”
General News
UK Reaffirms Commitment to Press Freedom, Science Journalism Training for Nigerian Media

United Kingdom has reaffirmed its commitment to supporting press freedom and strengthening science and technology journalism in Nigeria through a media training programme for journalists.

Speaking during the Advancing Press Freedom Through Science and Technology Journalism training organised by the UK Government, British Deputy High Commissioner to Nigeria, Jonny Baxter, said independent journalism remains essential to democratic societies and informed public debate.
Baxter, who hosted the journalists at his residence in Lagos, described the programme as part of the UK’s sustained engagement with Nigerian journalists, academia, and media stakeholders aimed at promoting ethical, evidence-based reporting.
“Strong, independent journalism is essential to democratic societies and informed public debate. That is why we take our relationship with the Nigerian media very seriously,” Baxter said.
He noted that the UK strongly supports freedom of expression and a free press, adding that the training programme was designed to equip Nigerian journalists with tools to interrogate data, challenge misinformation, and accurately communicate scientific and technological issues.
“In an age of rapid technological change, accurate, ethical, and evidence-based reporting has never been more essential,” he said.
Baxter highlighted previous training engagements held for Nigerian journalists in Abuja, Lagos, and the United Kingdom, noting that the latest programme builds on earlier workshops conducted in Portugal and London.
According to him, the initiative also reflects the UK’s commitment to deepening collaboration with Nigerian media professionals while improving public understanding of bilateral priorities such as economic growth, migration, and security cooperation.
He referenced the recent state visit of Nigerian President Bola Ahmed Tinubu to the UK as a major milestone in UK-Nigeria relations, stressing the importance of responsible media coverage during key diplomatic engagements.
“It was important for us to work closely with Nigerian media during the visit to ensure the public received accurate information while also helping hold all parties accountable to the commitments made,” he stated.
A panel discussion held during the event focused on challenges facing journalists in science and technology reporting, including misinformation, disinformation, access to reliable data, digital harassment, source protection, and legal risks.
Panelists noted that journalists face increasing pressure in a fast-paced digital media environment where algorithms often reward virality over factual accuracy.
They urged reporters to prioritise research, fact-checking, and verification while adopting practical digital security measures such as encrypting devices, password protection, and safeguarding confidential sources.
On misinformation and disinformation, panelists encouraged journalists to resist the pressure to publish unverified reports for speed or online traction.
“Don’t always rush to break news without verifying the facts. Trust is built through consistency, research, and cross-checking information,” one panelist advised.
The discussion also addressed concerns around Nigeria’s cyberstalking laws, with legal experts cautioning journalists to ensure all published information is factual, evidence-based, and defensible.
Participants were advised to maintain proper documentation trails, verify all claims, and avoid reliance on hearsay or unconfirmed digital content.
The training, organised in partnership with the School of Media and Communication, Pan-Atlantic University, is part of ongoing UK-backed efforts to strengthen journalism standards and media freedom in Nigeria.
Baxter encouraged participants to actively engage in the sessions and continue championing accountability journalism.
“Thank you for the work you do every day and for your commitment to advancing press freedom in Nigeria,” he said.
General News
FG Says It May Reject World Bank Loans over Delays

Dr Shamseldeen Ogunjimi, accountant-general of the federation, has warned that the federal government may reject loan facilities from the World Bank if delays in approval and disbursement persist, saying prolonged timelines could undermine the country’s willingness to proceed with such arrangements.

The warning was contained in a press statement issued on Friday by Bawa Mokwa, director of press and public relations at the office of the accountant-general of the federation.
Ogunjimi, who spoke in Abuja during a courtesy visit by a World Bank delegation led by Mrs Treed Lane, stressed that Nigeria expects timely processing of funding requests, given that the facilities are loans and not grants.
He said, “If approvals take more than six months, the Nigerian Government may no longer honour such arrangements,” highlighting concerns over bureaucratic delays in accessing development financing.
The AGF noted that as a responsible borrower, Nigeria should not be subjected to prolonged approval processes that could affect project execution timelines and broader development objectives.
He therefore urged the World Bank to “expedite the approval and disbursement of project funds to Nigeria” to support the country’s priorities.
Ogunjimi emphasised that the loans carry repayment obligations, making it imperative that disbursement processes align with project schedules and fiscal planning frameworks.
He further disclosed that the Office of the Accountant-General of the Federation had begun addressing key issues raised earlier by the World Bank, particularly in public financial management and audit reporting.
According to him, the 2023 Audit Report would be submitted to the Office of the Auditor-General for the Federation within two weeks, while work on the 2024 and 2025 audit reports was already underway.
The AGF also assured the delegation that steps were being taken to resolve concerns around the digitalisation of the Government Integrated Financial Management Information System, noting that obsolete infrastructure was being replaced with modern technology to improve efficiency and service delivery.
He said the reforms were part of broader efforts to strengthen transparency, accountability, and the overall public financial management system in Nigeria.
Earlier in her remarks, the World Bank delegation leader, congratulated Ogunjimi on his recent appointment as African chairman of the Association of Accountants-General.
Lane also urged the Office of the Accountant-General to sustain its digitalisation drive and ensure the timely presentation of financial statements to the Auditor-General, noting that such measures were critical to achieving seamless public financial management processes.
The World Bank earlier explained why about six loans worth $2bn, signed for Nigeria in 2024, are yet to be disbursed nearly a year after the bank’s approval.
This came amid recent reports that the World Bank approved a total of $8.40bn (N12.89tn) in fresh loans to the country over the past two years, based on data from the bank’s official website.
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