Ogaga87: Even if they grow by 0.0 percent our 7.6 can't match theirs, what a shame.

Did you actually reason this out of your educated mind

People likes coming up with shit all the time......NIGERIA TO OVERTAKE?

Overtake what ??

With all this ANIMAL and bunch of ILLITERATE running our country, it's IMPOSSIBLE, KO SESE.

Nigeria was put on the same platform as BRAZIL, INDIA to develop, No Water, No Good Road, No Job even poor man's food GARI is un affordable......
India as a country is performing, Now Nigerians are going there for treatment and Brazil is lending money to European countries.....

Look and laugh, that's Nigeria ....Yeye dey smell.

KINGwax: arrant nonsense! Who says there aint industrialization? Why alwys talkin from your caged point of view? How are u different from d idiottas who alwys come with cheap publicity and surveys like, nigerians are the poorest, nigerian women are the most unfaithful. Y'all nothin butcha bunch of stupid lots!
Did u check up wit the corporate affairs commission and got the facts dt industries aint springin up? I see factories being built in my daily life here. We install so many things for them and y'all jes sit behind d screen while your lean fingers typed from the wretchedness of your vague intelligence. Building some kinda cheap cyber popularity, feigning intellectual like a fraudster!
We still need to get so many things right, one and only effort being helping small scale enterprises strive by installin the right infrastructures. We all knw the SME is the backbone of industrialization. And i give it to Nigerians, we are ready. Even wit oddies, we still continue to make it. Whether u biliv it or not, unlike before, i've seen guys live comfortable without fraud. They've engaged themselves in simple business and it's payin off. Those that think Nigeria is only for whackness are the lots that waited and wanna die on being salaried. Guys have advanced from taking small opportunities and using them. Almost every guy has a registered company now, waiting and workin for an opportunity to burst out. Beggin and lobbyin for simple supplies and contracts. We need to stamp out corruption and d lots dt kills this actuallizations.
Stay there they imagine. Guys aint waiting for Nigeria. And that's why it's helpin d economy.
So log out dude, you're faking.

Are you trying to impress me with this crap, or what?

You said a lot without actually saying anything...

There is nothing special about the UK and france Economy considering the level of exploitation they need to expand their economy and the amount of time the exploitation has been going on.
If we get our acts together,impossible is nothing.

NOTE: if you are above 40 dont comment.... If nigeria will in 2050, my question is under whose government will that happen. And i guese that should be before rapture?

It's not about the size of a nations economy, but the standard/cost of living of her citizenry...

This report is bullshite. You do not even need to be an economist to debonk this cap. Well some nigerians love caressing their ego with all sorts of fantastic catch phrases; giant of Africa, top 20th economy in the year 2020, fastest growing economy in the world and now Nigeria to overtake UK and France economy by 2050.

It annoys me when the government and some people give one sided statistics on economic growth without giving the components of that growth. They de-emphasize the fact that over 90% of the growth is in the oil and gas sector which is controlled by foreign multinational (including these same France and British) companies who cart away 40% of anything we earn. Then the remaining 10% is shared by the industrial, agricultural, financial and other sectors. Can you then consider this real growth? What will happen when the price of oil goes burst or when an alternative source of energy is found.

You do not need an economic degree to know the indices and infrastructure needed for real growth. The crucial ones are good and efficient transportation system - especially cheap and efficient rail transportation, to be able to move raw materials and finished goods to and from factories, then you need a machine tools industry before you can contemplate industrialization - unless you people think it is possible to industrialize by relying on others like Germany UK and China for industrial machines. Then manpower, with the declining educational standard in every facet of our educational system, where will we find the necessary middle and high level manpower necessary for industrialization?

Then there are myriads of other issues like the growth killing interest rates, lack of power (compare our so called improved power with the power available in any developing country- i did not even say developed), high cost of poor services, quadruple taxation by all tiers of government, including agberos), corrupt and inefficient judiciary (it takes forever to settle simple industrial, contractual and labour disputes). The list of stumbling block to real growth is so many that i cannot state all here.

Finally, the official growth figure is fraudulent without taking account exchange rate depreciations, inflation and population increase, which usually cancel out the perceived growth figures.

I don't know why people are being pessimistic. It is an obvious fact that an average Nigerian is industrious an entrepreneur thinking. Just the introduction of GSM brought about a triple effect in the country. Once the power situation is settled finally, the economical effect would be felt. I honestly know that once the power issue is resolve, the next attention is to grow the middle class and eager entrepreneurs by ensuring that our already existing micro finance banks begins to function effectively. Rather than being pessimistic, begin to think of ways to tap into the economic prosperities the country would enjoy in the future. I like the projection, however, I believe we can break through before 2050. We should embrace the report with smiles because some countries do not even know their economic fate. You can ask Portugal, Greece and Spain..... (all assumedly developed nations)

Iolo: A lot of Nigerians wouldn't acknowledge the fact that our Middle Class has steadily expanded over the last 12 years. The growth our economy has experienced is behind this.

Exactly. Just look at our roads and the quality of vehicles plying them compared to say ten years ago. The difference is clear.

^^
So you want to grow your economy to meet France and UK with hoe and cutlass?


Mucho cho cho I laugh in Calloti style

Omo_Tier1:
I think that is where Nigeria's huge potential is: Vastly entrepreneurial middle class compared to most of the western nations and they will be the ones to push the economy of Nigeria into the upper tier of global economy.

The rapidly increasing power supply capacity of the nation to which we are all witnesses is a MAJOR STEP towards empowering/expanding the middle classes you guys speak off. In fact it is the single most important factor that will explode the middle class of this country and hoist millions of people out of poverty and into productive lives. This is why we are urging the leadership of the nation to remain steadfast in its drive to expand power supply in the country.

why do we like deceiving ourselves in this country? until we start telling the truth and taking restorative actions the slide into the abyss would be progressive.

wirinet: This report is bullshite. You do not even need to be an economist to debonk this cap. Well some nigerians love caressing their ego with all sorts of fantastic catch phrases; giant of Africa, top 20th economy in the year 2020, fastest growing economy in the world and now Nigeria to overtake UK and France economy by 2050.

It annoys me when the government and some people give one sided statistics on economic growth without giving the components of that growth. They de-emphasize the fact that over 90% of the growth is in the oil and gas sector which is controlled by foreign multinational

''Controlled'' in what way?

AS for your claim that the growth is explainable only by ''oil and gas'', it shows you have no clue how the Nigerian economy works.


''To put oil revenues in perspective: at an estimated export rate of 1.9 Mbbl/d (300,000 m3/d), with a projected sales price of $65 per barrel in 2011, Nigeria's anticipated revenue from petroleum is about $52.2 billion. This accounts for less than 14% of official GDP figures (and drops to 10% when the informal economy is included in these calculations). Therefore, though the petroleum sector is important, it remains in fact a small part of the country's overall vibrant and diversified economy.''

http://en.wikipedia.org/wiki/Economy_of_Nigeria

(including these same France and British) companies who cart away 40% of anything we earn.

YOU DON'T ''EARN'' WHAT THEY CART AWAY. THEY EARNED IT by drilling the oil for you, as part of the profit-sharing agreement you made with them, and which ALL oil producing nations have with Oil companies. Failure to agree means your oil remains in the ground where nobody can ''earn'' anything. You do not expect them to come and drill millions of barrels of oil per day, and let you take 100% of the oil. They do not operate charity. So stop insinuating that their share of the deal is somehow 'our' money being stolen by them.

Then the remaining 10% is shared by the industrial, agricultural, financial and other sectors. Can you then consider this real growth? What will happen when the price of oil goes burst or when an alternative source of energy is found.

First provide proof of these outrageous percentages you're claiming. You cannot come here making up figures. Where are your links? I already showed you that oil and gas accounts for only 14% of our GDP.

You do not need an economic degree to know the indices and infrastructure needed for real growth. The crucial ones are good and efficient transportation system - especially cheap and efficient rail transportation, to be able to move raw materials and finished goods to and from factories, then you need a machine tools industry before you can contemplate industrialization - unless you people think it is possible to industrialize by relying on others like Germany UK and China for industrial machines. Then manpower, with the declining educational standard in every facet of our educational system, where will we find the necessary middle and high level manpower necessary for industrialization?

Are you aware that the federal govt gave the highest budgetary allocation to EDUCATION in the 2013 budget? That's a first in Nigerian history. Keep up with the current news THEN you might start to understand the reason for the projections.

Then there are myriads of other issues like the growth killing interest rates, lack of power (compare our so called improved power with the power available in any developing country- i did not even say developed),

Reading where you wrote about the ''so-called power improvements'' shows you're not to be taken seriously when discussing Nigeria, because your negative bias is clear for all to see. If you cannot bring yourself to identify power improvements as such, without being snide and cynical, then you lack the objectivity to criticise the thread.

high cost of poor services, quadruple taxation by all tiers of government, including agberos), corrupt and inefficient judiciary (it takes forever to settle simple industrial, contractual and labour disputes). The list of stumbling block to real growth is so many that i cannot state all here.

The projection is that 38 years hence, a lot of these problems would have been tackled. You do not rubbish a 38 year projection by pointing at the PRESENT situation. That's senseless.

ALL said, the major economic research institutions on earth - ADB, Goldman Sachs, Morgan Stanley, World Bank et al, are wrong - and you right. Perhaps there's something you know that they don't?

Finally, the official growth figure is fraudulent without taking account exchange rate depreciations, inflation and population increase, which usually cancel out the perceived growth figures.

How do you know they did not take those factors into account prior to reaching their figures?

You think say na only you go school?

Nigerians likes dreaming, I'll suggest to everyone in support of this forecast or projection to look back at the projection about Brazil, India along side Nigeria.

Can we all take a look at other countries and check where Nigeria is today .....AT 52 we still can boast of one GOOD ROAD you can travel on to another state.

It's not a ROCK SCIENCE, our leaders are CROOKS AND CLUELESS.....I'll also urge you to take a account of how many scandal without no persecution of no body.

They'll prefer to still the money rather than investing.

Let's watch

Only in his dreams. Maybe he meant to say it will take Nigeria 50 years to catch up with where UK economy is today. He talks as if from now until 2050, UK economy will reman static. UK will fold their arms, close down their manufacturing sector and wait for us to catch up with them.

We can't even boast of 12 hours electricity, or good roads, or industrialization, or education. Abeg, you guys should give me better alternative news jooor

Venchy: Nigerians likes dreaming, I'll suggest to everyone in support of this forecast or projection to look back at the projection about Brazil, India along side Nigeria.

Can we all take a look at other countries and check where Nigeria is today .....AT 52 we still can boast of one GOOD ROAD you can travel on to another state.

It's not a ROCK SCIENCE, our leaders are CROOKS AND CLUELESS.....I'll also urge you to take a account of how many scandal without no persecution of no body.

They'll prefer to still the money rather than investing.

Let's watch

My friend please just go and sit your dumb, lying, uneducated self down somewhere. Where and where have you travelled to in Nigeria recently to type this rubbish? So there is not ''one good road'' anywhere, yes? This is why we should just grab some of you self hating, loathsome idiots and just throw you into Somalia or Sudan so you'll really see a place with one good road. Inferiority complex ravaged fool.

man I like this rossike. He is so optimistic and knows his facts.

babestella: Only in his dreams. Maybe he meant to say it will take Nigeria 50 years to catch up with where UK economy is today. He talks as if from now until 2050, UK economy will reman static. UK will fold their arms, close down their manufacturing sector and wait for us to catch up with them.

We can't even boast of 12 hours electricity, or good roads, or industrialization, or education. Abeg, you guys should give me better alternative news jooor

If you had a working brain in your head you would have visited some of the links posted + research detailing economic growth projections for the UK et al before typing what you did about the UK. But of course, research and information are swear words to your mentally lazy ilk. Much easier to regurgitate without thought, ignorant beer-parlour drivel.

If you cannot take the time to read links and research posted, then BUGGER OFF with your illiteracy and quit disturbing the thread. If you cannot note the electricity generation/distribution improvements in the country and make a simple 38 year projection based on that, then go and demand a refund on your education because you're a functional illiterate.

alj harem: man I like this rossike. He is so optimistic and knows his facts.

Thanks. I know my facts, and there's nothing more pathetic than those who don't know, and don't want to know. They are like flotsam and jetsam on the sea - visible enough, but worthless to the environment.

Iolo: A lot of Nigerians wouldn't acknowledge the fact that our Middle Class has steadily expanded over the last 12 years. The growth our economy has experienced is behind this.

Thanks. I read somewhere that 10 million Nigerians joined the middle class in the last 5 years. It was a report by Actis International, a global investment group. Also, it's been noted that: ''Household consumption is growing at more than 9% a year in countries like Nigeria and Ghana, faster than the BRIC average.'' [BRIC = Brazil, Russia, India, China].

http://qz.com/13567/more-work-more-spend-actis-bets-africas-rising-middle-class-needs-malls-and-offices/

Do you know that when Shoprite were conducting surveys and research on whether to set up in Nigeria, many Nigerians responded by advising them to stay away from Nigeria? They claimed that ''90% of Nigerians'' were starving and living on ''less than a dollar a day'', and that only politicians and looters would be able to patronise them.

You know what Shoprite did? They summarily ignored all those ''beer parlour analysts'' - and decided to establish in Nigeria. Today their success has been so massive - nationwide - that they've announced plans to establish 700 more retail outlets in Nigeria.

700.

THIS IS WHY I AM SO IMPATIENT WITH THE NEGATIVE BRIGADE. THEY ARE WORTHLESS TO US. The only people who can help Nigeria today are those who see a future for the country. The negative brigade are merely the other side of the coin of the corrupt elements they moan about.

Rossikk:

Thanks. I know my facts, and there's nothing more pathetic than those who don't know, and don't want to know. They are like flotsam and jetsam on the sea - visible enough, but worthless to the environment.

very true, kudos bros

YES NIGERIA CAN OVERTAKE THEM TWO YEAR IF WE CAN PAY $200,000,000

Rossikk:

Thanks. I read somewhere that 10 million Nigerians joined the middle class in the last 5 years. It was a report by Actis International, a global investment group. Also, it's been noted that: ''Household consumption is growing at more than 9% a year in countries like Nigeria and Ghana, faster than the BRIC average.'' [BRIC = Brazil, Russia, India, China].

http://qz.com/13567/more-work-more-spend-actis-bets-africas-rising-middle-class-needs-malls-and-offices/

Do you know that when Shoprite were conducting surveys and research on whether to set up in Nigeria, many Nigerians responded by advising them to stay away from Nigeria? They claimed that ''90% of Nigerians'' were starving and living on ''less than a dollar a day'' and that only politicians and looters would be able to patronise them.

You know what Shoprite did? They summarily ignored all those ''beer parlour analysts'' - and decided to establish in Nigeria. Today their success has been so massive - nationwide - that they've announced plans to establish 700 more retail outlets in Nigeria.

700.

THIS IS WHY I AM SO IMPATIENT WITH THE NEGATIVE BRIGADE. THEY ARE WORTHLESS TO US. The only people who can help Nigeria today are those who see a future for the country. The negative brigade are merely the other side of the coin of the corrupt elements they moan about.

Had faith like u cos I believed in the privatisation of PHCN as the only way for our economy to improve. But after reading about how BPE organised the bidding process I became discouraged.

We just need divine intervention. That's just it

^^^ I think you need to be a lot stronger than that. By the way, I'm not sure I care too much for 'transparency' where it concerns matters relating to Nigeria. We are who we are. The main thing is: Will we see an expansion in power supply? If the answer is yes - and there is every indication that it is - then we're on our way. It is a myth that we need to transform into a nation of saints in order to get this country moving.

Rossikk: ^^^ I think you need to be a lot stronger than that. By the way, I'm not sure I care too much for 'transparency' where it concerns matters relating to Nigeria. We are who we are. The main thing is: Will we see an expansion in power supply? If the answer is yes - and there is every indication that it is - then we're on our way. It is a myth that we need to transform into a nation of saints in order to get this country moving.

Correct

Ds lecturer speakn lik ds, is lik u hv collectd ur own ghana must go

Mad People! Always changing goal posts!

For inside dream abi

Its a possibility. Fingers crossed.

Rossikk:

My friend please just go and sit your dumb, lying, uneducated self down somewhere. Where and where have you travelled to in Nigeria recently to type this rubbish? So there is not ''one good road'' anywhere, yes? This is why we should just grab some of you self hating, loathsome idiots and just throw you into Somalia or Sudan so you'll really see a place with one good road. Inferiority complex ravaged fool.

Slow down Brov, no vex if my opinion pepe you for body because it sounds like you are spokes man for the Government.

First of all, I'll like to ask you where you reside in NIGERIA, what road is perfectly Good enough to compare with international roads?

Do you know the death rate on nigerian roads without no road signs and made of substandard materials?

I think your knowledge about infrastructures is limited to what you have around you.

Step out of Nigeria and you'll know what I'm talking about as you are the REAL IGNORANT

There's no point having a discussion or argument with people like you cos you have no IDEA.

Venchy:

Slow down Brov, no vex if my opinion pepe you for body because it sounds like you are spokes man for the Government.

First of all, I'll like to ask you where you reside in NIGERIA, what road is perfectly Good enough to compare with international roads?

Do you know the death rate on nigerian roads without no road signs and made of substandard materials?

I think your knowledge about infrastructures is limited to what you have around you.

Step out of Nigeria and you'll know what I'm talking about as you are the REAL IGNORANT

There's no point having a discussion or argument with people like you cos you have no IDEA.

Wole Soyinka has a line for people like that 'A tiger does not proclaim his tigritude, he pounces'.

Rossike and praises for Africa without questioning the evidences is always rampant in his usual comments here. Now you've known him bro.