Private Jets no be beans

SA - 63

Egypt- 23


Nigeria- 47

We are tailing SA, and we are supposed to be poverty capital of the world.

India actually has 23 this is a 3.5 trillion economy.

SA has 167 planes just checked the data again. Everything is in the public space this days.

KnowAll:


The advantage of a large population is that in Nigeria you have a privilege few who are larger than some African population. For instance a while ago, I wrote an article 5 million Nigerians worth 1 million dollars. And I believe it. That is more than the population of Togo and about 17% of the population of Ghana.

You are right. South Africa has the highest number of dollar millionaires in Africa. In sub-Saharan Africa, Nigeria comes second. But not five million Nigerians o. It is less than 10000 Nigerians.

https://businessday.ng/news/article/top-10-african-countries-with-highest-number-of-millionaires-in-2024/

Gerrard59:


You are right. South Africa has the highest number of dollar millionaires in Africa. In sub-Saharan Africa, Nigeria comes second. But not five million Nigerians o. It is less than 10000 Nigerians.

https://businessday.ng/news/article/top-10-african-countries-with-highest-number-of-millionaires-in-2024/

I believe it is 5 million. How many public officers in Nigeria would admit they have 1 million dollars and we all know our public officers starting from our parliamentarians who get roughly 4 million dollars a year when all allowances are taking into account although that has been devalued to about 1.5 million or there about. To our Governors, Judges, super perm secs, some ministers in juicy portfolios. They are more than 10,000

25 years of Democracy means we have 7 sets of National Assembly members. They are 450X 7 = 3150 members minus a few 100 who came 2nd, 3rd, and 4th term. Just the legislature alone 3000 people not to talk of 36 Governors since 1999, then talk of super perm secs, accountant general that stole 109 billion not to talk of ministers in juicy offices, and head of parastatals.

In Nigeria I believe they are more than 5 million. If you take every regime since 1960 . The number surges up.

lionshare:


It’s a normal thing to rebase because capacity to produce increases with new investments, which leads to higher income and more income should bring about much more investments (expenditure). But I doubt we can get to 1.5tn with the current exchange rate except if there’s significant appreciation to 500-600/USD.

Which investments? I don't what cocaine you guys are taking. Multi nationals are leaving and about 767 companies shutdown in the last one year according to MAN. Rebase fire

lastkingsman:


Which investments? I don't what cocaine you guys are taking. Multi nationals are leaving and about 767 companies shutdown in the last one year according to MAN. Rebase fire

As business are closing new business are opening up. That is life. What is happening in Nigeria is like snake shedding its skin, does that mean the snake have no skin any more.

Amidst the economy turmoil a 5 star Hotel opened in Lagos where Prince Harry stayed.

KnowAll:


I believe it is 5 million. How many public officers in Nigeria would admit they have 1 million dollars and we all know our public officers starting from our parliamentarians who get roughly 4 million dollars a year when all allowances are taking into account although that has been devalued to about 1.5 million or there about. To our Governors, Judges, super perm secs, some ministers in juicy portfolios. They are more than 10,000

25 years of Democracy means we have 7 sets of National Assembly members. They are 450X 7 = 3150 members minus a few 100 who came 2nd, 3rd, and 4th term. Just the legislature alone 3000 people not to talk of 36 Governors since 1999, then talk of super perm secs, accountant general that stole 109 billion not to talk of ministers in juicy offices, and head of parastatals.

In Nigeria I believe they are more than 5 million. If you take every regime since 1960 . The number surges up.

You mean every politician and top level civil servant, both serving and retired have millions of dollars in their accounts? Lol
Like $1m × 5m=$5trn in hard cash and not even gdp anymore!! Dude, lemme have what you're smoking!

One ridiculous thing about Tinubu supporters is how they like deceiving themselves by living in alternate universe that is far from reality.

Firstly, your topic is faulty. You said Nigerian economists yet your post referenced the opinion of a faceless individual.

Secondly, you stated that India with a population that is 6x that of Nigeria. Has less poor people in terms of percentage and is much more industrialized has just 3.5 trillion dollars economy but you and your faceless Nigerian economist believe that Nigeria should have almost half the size of their GDP

Our crude oil production prior to APC years was around 2.5 mbpd today it’s less than half! Agricultural output during same period was significantly higher than today that farmers are running away from their farms. Countless number of companies have all closed down and divested from our economy and more are still leaving by the day!

Despite all these tragedies that have befallen Nigeria, you believe that our GDP must have grown so magically to be 1.5 trillion dollars Go and check the actual 1.5 trillion dollar economies in the world and see if Nigeria is anywhere close to them.

Continue supporting a criminal and useless drug lord like Tinubu while fantasizing about 1.5 trillion dollars economy.

KnowAll:


India is a 3.5 trillion economy. People are still suffering there. They are the highest immigrant in the UK, USA, Canada, Australia and Dubai. They are leaving in droves from their country despite having a 3.5 trillion economy.

Kukutente23:

You mean every politician and top level civil servant, both serving and retired have millions of dollars in their accounts? Lol
Like $1m × 5m=$5trn in hard cash and not even gdp anymore!! Dude, lemme have what you're smoking!

That is why flats are sold for $1million dollars. Who is buying such properties. Definitely not Disaporas and definitely not Nigerians singing “ e bi pawa oh “

MrEverest:
One ridiculous thing about Tinubu supporters is how they like deceiving themselves by living in alternate universe that is far from reality.

Firstly, your topic is faulty. You said Nigerian economists yet your post referenced the opinion of a faceless individual.

Secondly, you stated that India with a population that is 6x that of Nigeria. Has less poor people in terms of percentage and is much more industrialized has just 3.5 trillion dollars economy but you and your faceless Nigerian economist believe that Nigeria should have almost half the size of their GDP

Our crude oil production prior to APC years was around 2.5 mbpd today it’s less than half! Agricultural output during same period was significantly higher than today that farmers are running away from their farms. Countless number of companies have all closed down and divested from our economy and more are still leaving by the day!

Despite all these tragedies that have befallen Nigeria, you believe that our GDP must have grown so magically to be 1.5 trillion dollars Go and check the actual 1.5 trillion dollar economies in the world and see if Nigeria is anywhere close to them.

Continue supporting a criminal and useless drug lord like Tinubu while fantasizing about 1.5 trillion dollars economy.

The problem with Nigeria is greed. You can have a 1.5 trillion economy but your developmental posture is skewed towards self consumerism instead of societal development which is what you see in other trillion dollars economy.

Secondly the Economist that talked about the 1.5 trillion economy is not faceless. Go to utube and watch Business Week by Rolake Akinkugbe Fulani yesterday one.

KnowAll:


I believe it is 5 million. How many public officers in Nigeria would admit they have 1 million dollars and we all know our public officers starting from our parliamentarians who get roughly 4 million dollars a year when all allowances are taking into account although that has been devalued to about 1.5 million or there about. To our Governors, Judges, super perm secs, some ministers in juicy portfolios. They are more than 10,000

Nobody has $1M stashed somewhere lying fallow. That is not how wealth is generated or built. Two, if you believe it is 5 million, conduct your study stating the methodology used in coming up with that figure. That is how bold claims are made, not I no fit lie give you

25 years of Democracy means we have 7 sets of National Assembly members. They are 450X 7 = 3150 members minus a few 100 who came 2nd, 3rd, and 4th term. Just the legislature alone 3000 people not to talk of 36 Governors since 1999, then talk of super perm secs, accountant general that stole 109 billion not to talk of ministers in juicy offices, and head of parastatals.

In Nigeria I believe they are more than 5 million. If you take every regime since 1960 . The number surges up.

Another thing to add, Nigeria's population is highly falsified. No one knows Nigeria's true population considering it is the only country where there are more people in arid areas than coastal regions.

https://www.economist.com/the-economist-explains/2017/06/20/why-nobody-knows-how-many-nigerians-there-are

Then, let's assume what you have up there is seemingly true, no reasonable person assess the wealth of a country's citizens with the loots of its corrupt politicians.

Gerrard59:


Nobody has $1M stashed somewhere lying fallow. That is not how wealth is generated or built. Two, if you believe it is 5 million, conduct your study stating the methodology used in coming up with that figure. That is how bold claims are made, not I no fit lie give you



Another thing to add, Nigeria's population is highly falsified. No one knows Nigeria's true population considering it is the only country where there are more people in arid areas than coastal regions.

https://www.economist.com/the-economist-explains/2017/06/20/why-nobody-knows-how-many-nigerians-there-are

Then, let's assume what you have up there is seemingly true, no reasonable person assess the wealth of a country's citizens with the loots of its corrupt politicians.

When it is obvious 450 in the National Assembly gets over 4 million dollars in a 4 year term and we had 3000 of them since 1999 not to talk of the number of Governors we have had since 1999. Start from that paltry sample which has already debunked the notion that there are only 10,000 dollar millionaires in Nigeria. When only one Governor paid his children school fee totalling almost 1 million dollars. Abi u dey under rock.

We never mention bankers oh, insurance chiefs and private business men who are scattered all over Nigeria.

KnowAll:



That is why flats are sold for $1million dollars. Who is buying such properties. Definitely not Disaporas and definitely not Nigerians singing “ e bi pawa oh “

You mean 5million flats are sold for $1m in Nigeria?

KnowAll:


When it is obvious 450 in the National Assembly gets over 4 million dollars in a 4 year term and we had 3000 of them since 1999 not to talk of the number of Governors we have had since 1999. Start from that paltry sample which has already debunked the notion that there are only 10,000 dollar millionaires in Nigeria. When only one Governor paid his children school fee totalling almost 1 million dollars. Abi u dey under rock.

Let's quickly put a lie to your figures. Each senator takes home a gross pay of N30m monthly. HoR takes much less. In a year, that is N360m per senator. With today's exchange rate, that is around $230k. In four years, that's $920k and not even up to $1m. So where are you getting your figures that Senators make $4m in a single tenure never mind HoR that earn far lesser. Mind you, income is not part of gdp not to mention loot but in even indulging you. In fact, loot reduces from your gdp. Secondly, you're misinforming yourself by thinking senators have been earning big since 1999. That's a lie. You also erroneously think all governors and legislators continue to earn $1m from the national purse even after leaving office.
Dude, get me what you're smoking!!

Kukutente23:

You mean 5million flats are sold for $1m in Nigeria?

A 2 bedroom flat in Eko Atlantic city is $1 million dollars,

KnowAll:


A 2 bedroom flat in Eko Atlantic city is $1 million dollars,

You mean Eko Atlantic has 5m population?

lastkingsman:


Which investments? I don't what cocaine you guys are taking. Multi nationals are leaving and about 767 companies shutdown in the last one year according to MAN. Rebase fire

Do you currently earn the same amount you were earning in 2015?
It’s okay not to understand how the economy works but instead of exposing your ignorance why not use the opportunity to illuminate your ignorance.

lionshare:


Do you currently earn the same amount you were earning in 2015?
It’s okay not to understand how the economy works but instead of exposing your ignorance why not use the opportunity to illuminate your ignorance.

You ended saying nothing. A complete and compound idiot. Get off my mention osiso

Bardo:
Nigeria it’s reached its global maximum. From here on, Nigeria will degrow till it collapses into different parts

Are you telling us about the present state of your life?

lastkingsman:


Which investments? I don't what cocaine you guys are taking. Multi nationals are leaving and about 767 companies shutdown in the last one year according to MAN. Rebase fire

A last lazy man of the king in line, will always find an excuse for his laziness.

lastkingsman:


You ended saying nothing. A complete and compound idiot. Get off my mention osiso

God bless you!

Kukutente23:

Let's quickly put a lie to your figures. Each senator takes home a gross pay of N30m monthly. HoR takes much less. In a year, that is N360m per senator. With today's exchange rate, that is around $230k. In four years, that's $920k and not even up to $1m. So where are you getting your figures that Senators make $4m in a single tenure never mind HoR that earn far lesser. Mind you, income is not part of gdp not to mention loot but in even indulging you. In fact, loot reduces from your gdp. Secondly, you're misinforming yourself by thinking senators have been earning big since 1999. That's a lie. You also erroneously think all governors and legislators continue to earn $1m from the national purse even after leaving office.
Dude, get me what you're smoking!!

That was based on 2015 Naira rates. I did say they have dropped to just about $1 million dollars.

Some acknowledgements this

I believe the economy was around 500 billion in 2015 grew to about just under 1 trillion and then devalued to around 500 billion just like every other thing. The 250 billion given to us despite the new fintec companies, the creative industries, the real estate boom , and of recent the mass exportation of food to Nigerians in diaspora should have pushed the GDP upwards to $1 trillion just b4 COVID. Hence after COVID everything went down but not as low as 250 billion.

The article I wrote about 5 million Nigerians worth 1 million dollars was in 2015 and now with down turn events today, I believe that figure might have gone downwards to about 100,000 but definitely more than the 10,000 ascribed to Nigeria.

Even with the downturn events in Nigeria I believe we are still the biggest economy in Africa.

KnowAll:


That was based on 2015 Naira rates. I did say they have dropped to just about $1 million dollars.

Some acknowledgements this

I believe the economy was around 500 billion in 2015 grew to about just under 1 trillion and then devalued to around 500 billion just like every other thing. The 250 billion given to us despite the new fintec companies, the creative industries, the real estate boom , and of recent the mass exportation of food to Nigerians in diaspora should have pushed the GDP upwards to $1 trillion just b4 COVID. Hence after COVID everything went down but not as low as 250 billion.

The article I wrote about 5 million Nigerians worth 1 million dollars was in 2015 and now with down turn events today, I believe that figure might have gone downwards to about 100,000 but definitely more than the 10,000 ascribed to Nigeria.

Even with the downturn events in Nigeria I believe we are still the biggest economy in Africa.

Lol. 2015 rates? Who told you Nigerian senators were grossing 30m in 2015? And even if they did, your $4m figure in four years will still be totally wrong and far below the mark. Take your time and calculate N30m with 2015 exchange rate.
You're lying further now. You started this thread with a claim that our economy is $1.5trn GDP now you're shifting to 2015 and still saying it was $500bn then. So when exactly was our economy $1.5trn? Was it during 2016 recession or Covid 2020 recession?
What should point you to the veracity or otherwise of your claim is the tax to GDP ratio. Our tax collection is publicly available and that should give you an idea of what is realistic and what is not instead of just shooting from the hips.
It really makes no difference though even if you claim our GDP is $1.5trn when the quality of life does not reflect that for the average Nigerian.
But pls, Nigeria is not the biggest economy in Africa. So many factors point to that. We can't even feed ourselves to start with. 60% of household income goes into feeding in today's Nigeria so how does being biggest economy help us?

Kukutente23:

Lol. 2015 rates? Who told you Nigerian senators were grossing 30m in 2015?
You're lying further now. You started this thread with a claim that our economy is $1.5trn GDP now you're shifting to 2015 and stillsaying it was$500bn then. So when exactly was our economy $1.5trn? Was it during 2016 recession or Covid 2020 recession?
What should point you to the veracity or otherwise of your claim is the tax to GDP ratio. Our tax collection is publicly available and that should give you an idea of what is realistic and what is not instead of just shooting from the hips.
It really makes no difference though even if you claim our GDP is $1.5trn when the quality of life does not reflect that for the average Nigerian.
But pls, Nigeria is not the biggest economy in Africa. So many factors point to that. We can't even feed ourselves to start with. 60% of household income goes into feeding in today's Nigeria so how does being biggest economy help us?

Go and check any threads regarding Senators pay, shehu Sanni revealed their salary since 2015. Their salary has not changed since then just like the minimum rate. In fact they were in the process of topping up their salaries when this crisis ensued after Tinubu removed subsidies. Hence why they are mute about it. I have a feeling they push it up once a minimum salary is approved.

Secondly I did not say our economy is 1.5 trillion. An economist said on Business week program. I agreed with some his arguments. Because a lot of sectors have actually been on the up pushing our GDP from 500 billion to closer to a trillion. But with Covid and Tinubu’s policies things have gone south but not as low as 250 billion.

KnowAll:


Go and check any threads regarding Senators pay, shehu Sanni revealed their salary since 2015. Their salary has not changed since then just like the minimum rate. In fact they were in the process of topping up their salaries when this crisis ensued after Tinubu removed subsidies. Hence why they are mute about it. I have a feeling they push it up once a minimum salary is approved.

Secondly I did not say our economy is 1.5 trillion. An economist said on Business week program. I agreed with some his arguments. Because a lot of sectors have actually been on the up pushing our GDP from 500 billion to closer to a trillion. But with Covid and Tinubu’s policies things have gone south but not as low as 250 billion.

All you had to do was check Google though. Shehu Sani reveled N13m as their running cost and salaries of N700k. How does that make it N30m they are said to earn currently? If their salaries have not changed since then (which means they don't earn 30m as is currently believed) and the naira has lost value, how are they now able to earn your claimed $4m in 4 years? I think you should rest on this senators matter cause you're just lying and confusing yourself!
Again, our economy from official sources was $500bn plus in 2015. It has grown at an average of 3% over the past 9 years of APC and had two periods of recession in between. Can you show with calculations how a growth rate of 3% in 9 years will give you double value? Never mind the recessions. You need to brush up your analytical skills and not just gobble up whatever is sold you on TV

Kukutente23:

All you had to do was check Google though. Shehu Sani reveled N13m as their running cost and salaries of N700k. How does that make it N30m they are said to earn currently? If their salaries have not changed since then (which means they don't earn 30m as is currently believed) and the naira has lost value, how are they now able to earn your claimed $4m in 4 years? I think you should rest on this senators matter cause you're just lying and confusing yourself!
Again, our economy from official sources was $500bn plus in 2015. It has grown at an average of 3% over the past 9 years of APC and had two periods of recession in between. Can you show with calculations how a growth rate of 3% in 9 years will give you double value? Never mind the recessions. You need to brush up your analytical skills and not just gobble up whatever is sold you on TV

If you add all the allowances to the cost it was about 40 million Naira a month hence making them one of the highest paid legislatures in the world at the time. How come every one was saying Nigerian Legislatures were the highest paid in the world. Mr man go and your search.

KnowAll:


If you add all the allowances to the cost it was about 40 million Naira a month hence making them one of the highest paid legislatures in the world at the time. How come every one was saying Nigerian Legislatures were the highest paid in the world. Mr man go and your search.

What are the allowances

Read this for the Senate allowances pls. Stop deceiving yourself. https://www.pulse.ng/news/politics/how-much-nigerian-senators-earn/bgvhz6y

Kukutente23:

What are the allowances

Read this for the Senate allowances pls. Stop deceiving yourself. https://www.pulse.ng/news/politics/how-much-nigerian-senators-earn/bgvhz6y

List all the allowances because it was something I brought out my calculator and worked it out. It ended up about 120 million every quarter.