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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn (39919 Views)
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Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by RedLight1: 10:06pm On Dec 20, 2013 |
ISpiksDaTroof: Cellphones are now your criteria to judging poverty? For your info, most Nigerians live in rural areas, and majority of the people that live in those areas live in very deplorable conditions and are poor as dirt.ediot GO and DIE |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Nobody: 10:07pm On Dec 20, 2013 |
boss1310: please dont compare us with south africans most of their blacks here are poorer than fish sellers at oshodi That is what most people don't know, they think its all about skyscrapers, black southafricans are f**king poor, poorer than a church rat. |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Nobody: 10:13pm On Dec 20, 2013 |
Promhize:learn to use the words; some, most, many |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Cubeet: 10:17pm On Dec 20, 2013 |
pDude:Then go hang yourself 2 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by klas(m): 10:22pm On Dec 20, 2013 |
Nigeria suddenly become the largest economy in Africa overnight by the stroke of pen of who again? ....Nigerian Bureau of Statistics- a federal government agency. What stops South African Statistics Bureau from rebasing its GDP tomorrow to make South Africa have triple the Nigeria's GDP? 5 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by MSEdLAW(m): 10:24pm On Dec 20, 2013 |
Chima_Agbalajob:Please stop misleading enlightened minds.. India has never and can never be the 3rd largest economy of the world.. If she was were would u place JAPAN don't ask me GOOGLE is ur friend. 1 Like |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Nobody: 10:25pm On Dec 20, 2013 |
klas: Nigeria suddenly become the largest economy in Africa overnight by the stroke of pen of who again? ....Nigerian Bureau of Statistics- a federal government agency. What stops South African Statistics Bureau from rebasing its GDP tomorrow to make South Africa have triple the Nigeria's GDP?SA rebased her GDP already.. ignoramus 4 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by babadey(m): 10:27pm On Dec 20, 2013 |
pDude: Slave indeed. See what you portraying about Nigeria. The outsiders reading this your post would be thinking another thing else not knowing you this prodigal boy was given allowances through out abi Government no pay you?. No Nigerian wanna start from the scratch esp fresh graduates, wanna ride flashy cars,earn $000000 figures etc but wouldn't wanna start just something. If I were to give thanks to people for this possible GDP,it will go to the illiterates,semi-illiterates business owners(the alaba boys,computer village boys,ladipo boys,aba boys,kantangua boys etc). They are all adding to the growth of Nigeria. 5 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Cubeet: 10:27pm On Dec 20, 2013 |
ISpiksDaTroof: Cellphones are now your criteria to judging poverty? For your info, most Nigerians live in rural areas, and majority of the people that live in those areas live in very deplorable conditions and are poor as dirt.is there still real rural area in lagos? With over 25million in population or porthacourt or benin or asaba or ibadan or calabar or akwa ibom?.Sometimes i wonder where dis useless statistics that 100million Nigerians are living below a dollar daily.why is it that am not seeing them.Am in lagos, have been to almost all places in Nigeria,Yes and I agree that there are poor population in Nigeria but its been over exaggerated 8 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Dbryan: 10:32pm On Dec 20, 2013 |
scipher: lolhaba u too wicked o..lol |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Zer0(m): 10:36pm On Dec 20, 2013 |
aaronson: Its not about Economical Development But Economical Growth,yes we have overtaken SouthAfrica but an average nigerian still live below 1dollar per day....how can you equate that to the preached development when 90% of nigerians wallow in abject poverty abegi make una go sitdon 90% living in abject povert. Lol. Just someone once argued that Nigeria had it better in the seventies when things were cheap blah blah blah. And i asked him how many people owned a car in his street or could afford technology and he kept mute. I think it's time we all become responsible and don't distort facts with ignorance. The economic team of Jonathan's government has done credibly well and better than every other, i may not completely agree with GEJ's politics, but his economics is surely sound. The facts are there. Policies have been made to grow and stabilize the growth of our economy but we need to translate these policies to infrastructures. Which i believe should be the focus of the government within the next two fiscal years. Development is not done on the pages of newspapers and good PR. The people living within and below poverty lines are actually a fraction of the numbers you guys peddle. I am an economist and can authoritatively explain how these numbers will translate to improvement in your everyday life only if you wish to understand and not trivalize or politicize it. We live in a better country today (economically). I know some people are so desperate to blinside Nigerians on how well we are faring. But we surely never had it better for a very long time. 4 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Nobody: 10:36pm On Dec 20, 2013 |
Dbryan:wettin I do na |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Cubeet: 10:37pm On Dec 20, 2013 |
Nigeria developing but in a very slow rate 1 Like |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by munky(m): 10:39pm On Dec 20, 2013 |
Cubeet: is there still real rural area in lagos? With over 25million in population or porthacourt or benin or asaba or ibadan or calabar or akwa ibom?.Sometimes i wonder where dis useless statistics that 100million Nigerians are living below a dollar daily.why is it that am not seeing them.Am in lagos, have been to almost all places in Nigeria,Yes and I agree that there are poor population in Nigeria but its been over exaggerated I think we should tell ourselves the truth. More than half of Nigerians are well below the poverty line. In Nigeria hotels pay attendants 10,000 Naira a month. salesgirls are paid 7000 Naira. I see truck pushers, pkof pkof sellers, ice cream sellers etc. these people don't earn more than 15000 Naira a month. Forget all these lies thats been peddled around. The reality on ground is so dire. parents are fending for grown men and women. We can argue back and forth about all these, but I know all these are just paper development. I believe if we have stable electricity and security Nigeria will be really great but till then lets be honest with ourselves 5 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by satmaniac(m): 10:39pm On Dec 20, 2013 |
taharqa:What happen to Lokoja-Abuja road dualisation,GEJ should try and fix that as the number of accident occuring on that road is on the increase. |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by 1025: 10:40pm On Dec 20, 2013 |
Akpangbon: Nigerians will start rubbishing this report. Mark it. u are right. why won't nigerians rubbish this report? how much is garri, fuel and electricity tariff? house rent nko? what is the meaning of all these economic terms if they don't reflect on our day to day activities? whether the pdp or gpd or apc, we want to buy tomatoes and peper at normal prices. we want to see the prices of bread and bola come down otherwise all the big english will only be useful for abuja. 1 Like |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by pimplucious: 10:43pm On Dec 20, 2013 |
osystein: What is the correct figure for south africa's gdp? a little research from google gives a figure above $405billion in 2011, the figure today must have surely passed $410billion. U should know that SA economy have remained stagnant if not shrinking in past years while that of Nigeria has been in an upward trend in same period |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Cubeet: 10:46pm On Dec 20, 2013 |
munky:you mean this puf puf sellers, ice cream seller, truck pushers e.t.c are living below 160naira aday?(poverty line) 1 Like |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by iconize(m): 10:48pm On Dec 20, 2013 |
Mumu Chima_Agbalajob: You guys want South Africans to commit suicide o! |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by 617aircav: 10:51pm On Dec 20, 2013 |
phantom: my brother we can get there quickly once power is sorted out.imagine Almost half a trillion dollar economy with epileptic power. If in 2014 power is not yet sorted out, do you actually believe that it will ever be sorted out? |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by ISpiksDaTroof: 10:51pm On Dec 20, 2013 |
taharqa:You're really bad at this propaganda thing you were hired for, aren't u? Shouldn't you be praising GEJ and giving all praises to him for this news about the Nigerian economy surpassing South Africa's? But no, with your own hands you decided to destroy it and turn the topic towards roads. When u get shown pics of deplorable roads to counter you claim, I bet you're going to start screaming "opposition". |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by iconize(m): 10:58pm On Dec 20, 2013 |
baba dey: |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Nobody: 10:59pm On Dec 20, 2013 |
boss1310: please dont compare us with south africans most of their blacks here are poorer than fish sellers at oshodiI gattta comment on this shiiiut. Fvvvck all those who will tell me this is NL, Its NL right but do not mention others countries in your bullshiiiting celebrations. How can SA a welfare State be poorer than Nigeria a negletfull state? South Arfican children get almost 5000naira a month each, if you have four kids thats 20000 naira from the government. If you have kids adopted the get 10,000 naira each with out the salaries of the guardians. People with TB or HIV get almost 10.000naira a month. Now the government there is about to introduce Youth unemployment wage. Unless you want to remain dummmbooos celabrating lies, how can SA people be poorer than you all typing on here? Let truth be told you are drunk with your own deluded poverty struck minds. I am out! 5 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by tunshe: 10:59pm On Dec 20, 2013 |
All these grammar and figures will make meaning when the common man on the street feels the fresh air. Some people compare the population of Nigeria with few citizens buying mobile phones in computer village. They lack the knowledge of population proportion in urban and rural areas. They also fail to understand that mobile phone is a necessity in Nigeria. Funny how their likes donate likes to them. 2 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by nduchucks: 11:00pm On Dec 20, 2013 |
kmariko: Nigeria’s economy largest in Africa as rebasing boosts GDP to $405bn Being that I am not an economist, may I humbly ask the economists in the house to explain to me why the Nigerian National Bureau of statistics find it necessary to rebase the GDP before announcing the figure? What were the GDP numbers before the said rebassing? To me this is a very important question and until the economists in the house explain this to me, I remain unwilling to accept that we have overtaken South Africa. It is a known fact around the world that Nigeria has enjoyed some of the highest economic growth rates in the past 14 - 16 years or so. It pains me to the core that we have a government which enables monumental levels of theft with impunity - just imagine where our economy would be if these thieves are not positioned to steal the billions of dollars they currently do. Nwanne m, GEJ and his thieving advisers must go, they would have spent 6 years in office by 2015. Enough is enough. 1 Like |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Kairoseki77: 11:07pm On Dec 20, 2013 |
ndu_chucks: Without getting too technical, a key part of how we calculate our GDP is by looking at a "base year" and then seeing how much things have changed since then. Most countries update this "base year" every five years. Pretty much every country does actually. Nigeria's current base year is 1990. Or 23 years ago! When the base year is too old, the GDP calculations will always be wrong. To develop a base year requires hard work, you have to survey they entire country and try to piece together the size of the entire economy. PS - Ghana recently changed her base year from 1993 to 2006, and their GDP "grew" by 60%. This doesn't mean that their economy actually grew, it just means that their GDP calculations are now more accurate. The old calculations were missing 60% of the economy. No one became richer, the numbers were just off. 1 Like |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by Nobody: 11:09pm On Dec 20, 2013 |
Yeah! IB and those other new agency are really doing a cool job getting prospective investors to believe that Nigeria is a good ground to invest their fund and by so doing creating some wealth/investment for Nigeria and also generating their own return as per consultancy fee and d likes But, we Nigerians shld understand that, this is not d time to compare our dear nation with SA but to rather compare ourselves with the "IDEAL/what's meant to be" giving the natural resources and the man power/brains that God has bless this nation with. Let's look at d "fundamentals" rather than just looking at the so call "technicals" of economic growth and development. Are we where we are to be? Yeah! we are moving but excuse me! At what rate?! Is it not time we considered Gross Domestic Happiness and not. Just Gross Domestic Product. Even in economics, it is obvious that GDP & GDP per capita do not reflect d well being of the people. As for poverty or whatever, it's quite funny dt some forks are pointing out the rate at which materials possessions are being acquired in d citizens. Hey! D question is, by who(set of pple)? a situation where 20% of d population controls 80% of d wealth and 80% controls jst 20% of d national wealth (don't bother attacking d veracity of my figures lol) Guyz, it's cool dt d nation has good economy on paper ( at least good enough to attract investors) but let's put hand together to translate these to real time development NB: it's just an amendment of how d GDP is being calculated. 2 Likes |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by gsalvatore: 11:10pm On Dec 20, 2013 |
Chima_Agbalajob: You guys want South Africans to commit suicide o!PRICELESS |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by OmoTier1(m): 11:12pm On Dec 20, 2013 |
taharqa:Is it any surprise that even in the times of yuletide your insanity knows no bound? You are too intellectually deficient not to have realized that the GDP of Nigeria grew at accelerated rate from 1999 to 2007 and I am sure your Jonathan was still learning how to steal from local government council allocation then. That you even thought Nigeria's economy in 1999 was a mere $59bn shows how innately daft you are. Nigeria today is still reaping the painful economic reforms Obasanjo initiated that brought about liberalization of the economy. The GSM alone brought about creation of millions of jobs and so many Nigerians just by selling re-charge cards made fortunes and improved their lives. So don't be so daft to attribute the success of the dogged spirit of Nigerians to your puppet corrupt master in aso rock. 1 Like |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by gsalvatore: 11:15pm On Dec 20, 2013 |
BluIvy:HAHAHAHAHAHAAHHA.....Is that the point you want to drop? how government dish out handouts? you are a genius. 1 Like |
Re: Nigeria’s Economy Largest In Africa As Rebasing Boosts GDP To $405bn by BetaThings: 11:16pm On Dec 20, 2013 |
Why we are having this argument on politics is difficult to understand The rebasing has nothing to do with Jonathan's performance Nigeria growth rate has reduced to slightly less than 7% That is what Jonathan should be credited with and you can multiply it by 3 on a compounded basis (2010 - 2013, 3 years) But Nigeria depends largely on foreign aid. Our fight against HIV has been funded largely by foreign donor agencies A lot of these will stop with a larger GDP. Nobody should forget that This is one several articles by Soludo http://www.thisdaylive.com/articles/learning-the-wrong-lessons-of-development-3-/152720/ 3 Likes |
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