Nigeria, May 2 -- Nigeria, Africa's largest economy by GDP, is facing a deeper economic crisis than many appreciate. Current data shows that citizens are financially worse off today than they were over six decades ago.

This stark reality was highlighted by Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), who revealed that Nigeria's GDP per capita has plummeted to just $824, far lower than the $1,847 recorded at the time of independence in 1960.

Delivering a keynote at the 20th anniversary celebration of investment firm Chapel Hill Denham in Lagos, Dr. Adesina issued a compelling call for structural and strategic economic reforms to reimagine Nigeria's trajectory towards becoming a globally competitive industrializ...