Chief CBN Onwuasoanya Ezendigbo, a presidential aspirant in the last general elections, has reflected on Nigeria's economic past following the resurfacing of a 1978 newspaper advertisement showing that a return flight from Nigeria to London once cost just ₦390.
Reacting to the vintage advertisement, Chief Ezendigbo said the image serves as a reminder of a period when Nigeria's economy commanded respect globally and the naira ranked among the strongest currencies in the world.
According to him, the strength and dignity of any nation are largely determined by the quality of its economic policies, noting that the world's leading powers derive much of their influence from the resilience of their economies.
"The strength and dignity of any nation are tied to the strength of its economy. Across the world, powerful nations are respected because of the economic value they create and sustain," he stated.
Chief Ezendigbo stressed that economic revitalisation remains a critical component of his vision for Nigeria, arguing that the country must shift its focus from excessive dependence on imported goods to local production and industrial development.
He maintained that Nigeria possesses the human and natural resources required to become a major manufacturing and export-driven economy if the right policies are implemented.
"As part of our economic agenda, revitalising production must take centre stage. Nigeria cannot continue to rely heavily on importation while neglecting local industries. We must produce more of what we consume and create an environment that supports innovation, manufacturing and exports," he added.
His remarks came amid renewed public interest in a rare advertisement published in the New Nigerian newspaper on February 21, 1978, by British Caledonian Airways.
The advertisement, boldly headlined "LONDON ₦390", promoted a special excursion fare offering return flights between Nigeria and London for just ₦390. The airline described the offer as the cheapest available option at the time, providing passengers access to London Gatwick and connections to several cities across Britain, including Manchester, Edinburgh, Glasgow and Newcastle.
The resurfaced advert has generated widespread discussion on social media, with many Nigerians drawing comparisons between the country's economic realities in the late 1970s and the present day.
The period reflected in the advertisement coincided with an era of stronger purchasing power, robust oil revenues and a relatively stable national currency, making international travel, education and other opportunities more accessible to ordinary Nigerians.
The advertisement represents more than a nostalgic glimpse into the past. It has become a symbol of the changing fortunes of Africa's largest economy and a reminder of the need for policies capable of restoring economic growth, productivity and confidence in the national currency.
As conversations around the historic advert continue, Chief Ezendigbo believes the lesson is clear: sustainable prosperity can only be achieved through sound economic management, increased local production and a deliberate commitment to national development.
Photo Caption: A British Caledonian Airways advertisement published in the New Nigerian newspaper on February 21, 1978, offering return flights from Nigeria to London for ₦390, a figure that has sparked renewed debate about the country's economic trajectory.
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