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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 (9759 Views)
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Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Ovamboland(m): 3:22pm On Aug 26, 2021 |
dragunov: Ghana cedi is 6cedi to $1, Japanese yen is 110 to a $, does that mean Ghana is more advanced than Japan and richer? You obviously have a pedestrian or market woman understanding of currency exchange rates and the drivers. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Igwe29(m): 3:32pm On Aug 26, 2021 |
5% GDP growth with no significant change to show for it. Someone said it's like the NBS are being forced to supply us fake statistics and it's true. What this government cannot do doesn't exist. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Gfskw: 3:37pm On Aug 26, 2021 |
Still no impact |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Igwe29(m): 3:55pm On Aug 26, 2021 |
AlhajiBitcoin: Is that -6.1% change in the GDP even supposed to be called a growth? It clearly shows a nosedive; a decrease. It's a negative change. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by dragunov: 3:59pm On Aug 26, 2021 |
Ovamboland: Whatever! But the report is still false because any kind of growth must be measurable by physical evidences, not textbook crap |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Buccalcavity2: 4:02pm On Aug 26, 2021 |
'Meanwhile, performance in the non-oil sector grew by 6.74% in real terms during the reference quarter (Q2 2021). The Q2 2021 growth rate was higher by 12.80% points compared to the rate recorded in the same quarter of 2020 and 5.95% points higher than the first quarter of 2021.' This is good. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by KRSWon: 4:38pm On Aug 26, 2021 |
thebosstrevor1: Exactly what is the "something"? The news should be "5%" FROM WHERE in accordance with previous growth numbers. 5% growth from 0.1% previous growth or even an earlier - 3% decline is not impressive. I mean, from the article itself: “The Q2 2021 growth rate was higher than the -6.10% growth rate recorded in Q2 2020 and the 0.51% recorded in Q1 2021 year on year, indicating the return of business and economic activity near levels seen prior to the nationwide implementation of COVID-19 related restrictions. Buhari literally has the worst recorded economic performance per tenure out of any president since the start of the democratic era:
https://nairametrics.com/2021/05/21/gdp-performance-of-nigerias-presidents-since-1999/ |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Tundethegood: 5:09pm On Aug 26, 2021 |
God dey |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by MoIbrahim: 5:35pm On Aug 26, 2021 |
All this statistics is nonsense if things are more expensive in the market and money id more difficult to find |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by orisa37: 5:44pm On Aug 26, 2021 |
That's UNRELIABLE. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Kingspin(m): 6:11pm On Aug 26, 2021 |
Anything Buhari touches is a mess. This is Buhari growth not Nigerian growth. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by OBUA12345: 6:24pm On Aug 26, 2021 |
Propaganda! Bad government all they knows is how to liar. Wicked pupil. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by westfield: 6:37pm On Aug 26, 2021 |
Exactly the same lie your jonathan and okonjo told during their time endsarrrs: |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by huptin(m): 6:43pm On Aug 26, 2021 |
Ovamboland: So borrowing heavily is your own way out of recession? How will the loans be repaid? Both internal and external? Did Obasanjo borrow before taking Nigeria from the verge of deep recession to unprecedented economic prosperity within a short period of time? Rather than focus on Foreign Direct Investment you are saying that it doesn't matter where the money comes from, in your personal life can you do that? |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by zinaunreal(m): 8:09pm On Aug 26, 2021 |
Audio percentage |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by bejeria101(m): 8:27pm On Aug 26, 2021 |
Vulture bbq man would jump on this. Awon oponu |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by DEADALIVE: 8:48pm On Aug 26, 2021 |
Where this people they get their data from self.... Very stupid set of puppet doing the useless president favour! |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Rossinkipp: 9:48pm On Aug 26, 2021 |
FarahAideed: Oh SHUT UP. You are NOT an economist, an economic analyst, or a macro economist. ''Insecurity'', and the ''naira losing value'', ''inflation running high'', etc etc are all LAYMEN arguments that mean absolutely NOTHING when measuring/calculating GDP - economic growth. Take your hatred for Nigeria and get lost. I wonder why you come to this NIGERIAN site every single day, when you hate the country. Just get lost. Go and join Ghana site or USA site. 1 Like 1 Share |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by FarahAideed: 9:52pm On Aug 26, 2021 |
Rossinkipp: Bleep off ..I am a trained accountant and Economist ...well we are already done with with this data and proven how wrong it is ...the growth is still in the negative so stop decieving yourself...I don't hate Nigeria for your information , I hate Buhari govt |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by FarahAideed: 9:52pm On Aug 26, 2021 |
Rossinkipp: Bleep off ..I am a trained accountant and Economist ...well we are already done with with this data and proven how wrong it is ...the growth is still in the negative so stop decieving yourself...I don't hate Nigeria for your information , I hate the way Buhari is running the country |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by buckeyemedia: 9:53pm On Aug 26, 2021 |
Rossinkipp:Thank you for chastising that Somalian Nigerian Terrorist Farahaideed, a perennial Hater of Nigeria, Useless Somalian. 1 Like 1 Share |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by buckeyemedia: 9:56pm On Aug 26, 2021 |
FarahAideed:Pdp lover. You are pained, Charity begins at home, how is the Governor handling the economy of your state, how much has it grown by? Has it taken advantage of any comparative advantage it may have? You can’t answer that one, it is President Buhari in Abuja you will be shouting about? Issues that don’t concern you. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Rossinkipp: 10:04pm On Aug 26, 2021 |
FarahAideed: You are a charlatan. You are no economist. If you were an economist you'd know that demand inelasticity for basic goods such as food, petrol, etc, would negate inflationary trends when calculating GDP growth, especially in a fast-rising, youthful population such as Nigeria's. You'd know that the economic impact of 'insecurity' is not directly measurable - certainly not in monetary terms - and thus is never considered in GDP growth calculations. And you care nothing for Nigeria because you don't mind dragging her down out of hatred for Buhari. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Rossinkipp: 10:28pm On Aug 26, 2021 |
AlhajiBitcoin: What a load of absolute RUBBISH. Do you even know what GDP growth rate means? It simply means how fast your economy is growing this year (or quarter, or month, or week) compared to the last, with such growth calculated by establishing a sum total of all economic activities carried out in the country in the period. If that total exceeds the preceding period, a percentage calculation is made to glean by how much. So if Nigeria's annual GDP fell from 500 billion USD in 2015 to 400 billion USD by 2019 (due to the effects of the great oil price crash) and then we start calculating GDP growth rate today, you don't say ''oh, because annual GDP was 500 billion 5 years ago and is 400 billion today, therefore we should measure the growth rate based on the 500 billion figure.'' That is illiterate economics with regard to GDP growth measurement. If GDP grew by an unusually high margin from 400 to 425 billion in a quarter, thus making it the fastest growth quarter in 4 years, you don't go and start recollecting the 500 billion status and saying ''oh, it is actually minus whatever whatever''. THAT IS LAYMAN NONSENSE. THAT IS NOT HOW YOU CALCULATE GDP GROWTH RATE, which is the calculated rate of economic expansion from one period to the very next. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Ovamboland(m): 5:35am On Aug 27, 2021 |
huptin: Nigeria has never defaulted in her loan repayment and if infrastructure is needed to diversify and jump start the economy it must be financed. We can't keep insisting on the model that ensure Ajaokuta steel is not complete after 40 years of sinking money or it took 33 years to complete the strategic Itakpe Warri rail. The model that delivered Lagos Ibadan rail in 4 years has my support any day. Imagine we financed the rail 30 years ago instead of making our forex available for private jet imports, we won't be here today. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by huptin(m): 10:31am On Aug 27, 2021 |
Ovamboland: How much did Nigeria borrow to build the telecoms industry? If Nigeria had borrowed to fix NITEL rather than bring in the massive investment how would NITEL be faring today? The Ajaokuta steel you mentioned despite all the loans how has it fared? You talk about the railways as if it started 4 years ago, NO it has been on since 2006, it just so happened that it was completed recently but even that how much money is it bringing? Can the money being made pay back the loan? Only lazy minds believe that borrowing is the only way to grow an economy? How many countries have borrowed their way to prosperity? |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Ovamboland(m): 4:00pm On Aug 28, 2021 |
huptin: Almost nothing significant happened in the first term of Obasanjo, but he had the advantage of the euphoria of the feeling of been free from military jack boot and steadily increasing revenue from oil. Also with international goodwill and some foreign investment in key sectors like telecoms and expansion of the financial sector due to pent up demand. Better growth came with even faster increase in oil prices and consolidation of financial sector. He did not face crisis close to loss of 70% of national income. The crisis he faced are security challenges in different parts of the country, misapplication of funds and little attention to infrastructure. |
Re: Nigeria’s Economy Grows 5% In Q2 2021 — Strongest Since 2014 by Ovamboland(m): 6:40pm On Aug 28, 2021 |
huptin: Why did private railway companies not come and invest in Nigeria at the same time MTN and co came into our telecoms? Didn't we have need for fast rail transport in 1999-2000? The error in your thinking is the notion that it's every sector that attracts private investment. Can you name one emerging country like India, Indonesia, South Africa, Malaysia where private investors are the ones raising financing and building their roads, bridges and railway that are not known to be quick money spinners. You really think foreign investors will come rushing to sectors with long break even points that the citizens and government don't want to put money? Why do you think USA, doyen of capitalism and private investment is making provisions and passing bills for $1 trillion infrastructure investment? You think it's a joke right? To leave your strategic infrastructure needs merely to profit decision of individual capital? Pray tell me the name of the private investors that raised funds for the Shinkasen in Japan, Autobahn in Germany, EU Eurostar railway network, underwater English channel railway link between France and UK, Chinese Maglev trains, Tennessee valley authority network of dams in USA and Panama canal system built by USA. Don't be carried away by preachment of the developed world that they themselves cannot follow to the letter. |
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