Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income - Politics - Nairaland
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| Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 11:06am On Jul 05, 2012 |
GDP(GROSS DOMESTIC PRODUCT) FOR NIGERIA – 2010 1 Like |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by shymex(m): 11:08am On Jul 05, 2012 |
^^^^We can definitely survive without the oil from Niger/Delta - and I hope this will shut certain people up about other regions being parasitic.. We make more money from Agriculture than oil... 4 Likes |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 11:20am On Jul 05, 2012 |
Interesting.............. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Ufeolorun(m): 11:46am On Jul 05, 2012 |
This stats. must have been prepared by those parasites. Which kin gbegiri calculation be this 18.7 kẹ̀! 2 Likes |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by ballabriggs: 11:49am On Jul 05, 2012 |
This is erroneous. Crude oil contributes over 70% of Nigeria's foreign exchange. For an import dependent economy, Oil is the life wire of the economy. Secondly, it is the earnings from oil which drives other activities that form the component of GDP. Don't be deceived, take away the oil and your economy is doomed. You can't get the true picture by mere viewing such data without an analysis. 7 Likes |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by PapaBrowne(m): 12:07pm On Jul 05, 2012 |
Really. Wish you knew economics better. Where do people get the money to buy the Agricultural Produce?? If there was no oil money, how would Government pay 3 million civil servants who would in turn buy Agricultural produce?? The GDP component doesn't equate to capacity to survive. Agriculture constitutes 40% of the economy because people have to consume. However that consumption can only be made possible if there is the financial resource to back it up. That Financial resource would come from production that is sold externally. The structure of economics is complex such that a except value is added and Agro products are made competitive for exports, the GDP size of Agriculture would be nothing but a huge burden. Let me put it in layman terms. Imagine a Family of 10, each with equal production capacity. Assume 6 of the family members are all craftsmen that make art pieces. It would be safe to say that 60% of that Family's GDP constitutes Craftmanship. Now Imagine those art pieces cannot be sold outside of the family?? Of what value is it?? Zilch! Infact the only reason oil is a ohur bastion is because of its external value. As Agriculture stands today in Nigeria, it cannot survive any region with the produce being exported. 12 Likes |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by jmaine: 12:33pm On Jul 05, 2012 |
OP null hypothesis rejected cos it's an undisputed fact we are largely dependent on oil, which is the main soul of our economyl |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by edoyad(m): 12:52pm On Jul 05, 2012 |
OP better don't let your limited knowledge of Econs lead you astray, Can you see what is happening in Sudan just a few months after leaving Awuf oil money |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Dede1(m): 1:44pm On Jul 05, 2012 |
ballabriggs: This is erroneous. You seem to be ignorantly held in delusional crucibles. If you think crude oil is the only and major exporter earner of Nigeria, you must be drunk on crude oil. Real Estate later knwon as Nigeria was performing equitable fine in all aspects of human endeavor before the discovery of crude oil. Since crude oil was struck, Nigeria has become a basket of political acrimony, tribal hatred, religious intolerance, humanistic antagonism, unbridled corruption and retrogressive growth. I really want disintegration of Nigeria by any means available so that few goons in Nigeria would realize they would have been better off without crude oil and the second half of the goons would realize they do not have crude oil after all. 1 Like |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 1:54pm On Jul 05, 2012 |
Nigerians are very dumb people.. The post up there is from the NIGERIAN NATIONAL BUREAU OF STATISTICS.. Stupid people!  |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 1:55pm On Jul 05, 2012 |
edoyad: OP better don't let your limited knowledge of Econs lead you astray, Can you see what is happening in Sudan just a few months after leaving Awuf oil money You're very dumb! How is the national bureau of statistics lie about the country's GDP? Some of you need to go back to school.. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by vladimiros: 2:33pm On Jul 05, 2012 |
shymex: ^^^^We can definitely survive without the oil from Niger/Delta - and I hope this will shut certain people up about other regions being parasitic.. IF YOU DON'T WANT OUR OIL, STOP SHOUTING FOR IT WE S'SOUTH LOVE OOUR OIL 1 Like |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Yeske2(m): 3:16pm On Jul 05, 2012 |
PapaBrowne: Really. Wish you knew economics better. Where do people get the money to buy the Agricultural Produce?? If there was no oil money, how would Government pay 3 million civil servants who would in turn buy Agricultural produce??Please educate these incorrigible dunces on this thread further. 1 Like |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 3:16pm On Jul 05, 2012 |
vladimiros: You know what to do.. Your man is in power - and this is the best time to divide the country. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 3:18pm On Jul 05, 2012 |
How many civil servants do we have in Nigeria? The civil servants are not even up to 4% of the population... If there was no oil, Nigeria will still survive. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by jaybee3(m): 3:20pm On Jul 05, 2012 |
shymmex: How many civil servants do we have in Nigeria?% of total population or % of total workforce? What u trying to get @ bro? |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Abagworo(m): 3:36pm On Jul 05, 2012 |
Bullsh*t thread. Oil is almost our only foreign exchange earner. The only way the importance of oil could be relegated is by reducing our rate of importation. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 3:54pm On Jul 05, 2012 |
As has rightly been said, oil is our number one foreign exchange earner, and it is from such earnings that all tiers of government can function. Besides, our agriculture sector is still populated, to a large extent, by subsistence farming. The kind of large-scale, commercial, mechanized farming that drives growth has not really taken root here. People still produce for their personal consumption. 2 Likes |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 4:06pm On Jul 05, 2012 |
jay bee: Those employed by the government in Nigeria are not up to 10% of Nigeria's total workforce.. Most people are either employed by the private sector, self-employed, or unemployed... The national unemployment rate in Nigeria is an alarming 30% for crying out loud - and a staggering 55% for youths between age 18-24... Our foreign income from oil don't even get to the Nigerian populace - the money gets looted anyway.. We can survive without oil, period. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by ronkebp(f): 4:12pm On Jul 05, 2012 |
So the noise about oil sector contributing majorly to Nigeria income is a big lie....let me get my hoes and cutlasses and go back to farming abeg....i have been interested in farming from Adam... |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 4:28pm On Jul 05, 2012 |
statistics can be misleading if you don't know how to read 'em. what the above statistics simply means is that; more agricultural products were consumed,they was more govt spending,more investment & more exports in the agric sector. it certainly doesn't mean they was more gross earnings from the agric sector! GDP is equal to total expenditures for all final goods services produced which means oil earnings are used to lubricate all other sectors(including itself,the oil sector) i.e govt takes 50k from the oil sector,puts it into the various sectors and gets back its 50k(atimes it gets a bit more or less). |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by homerac7: 4:35pm On Jul 05, 2012 |
It's nothing extra-ordinary to be illiterate in matters of economic and finance, afterall its only matter of concern and interest. But its grossly stuupid to join a bandwagon in response to a faulty argument on such matter you know little about. @OP, u need to be tied and left at mercy of school of almanjiri boys to use ur face for slapping-practice for ur interpretation of obvious statistics. @Ballabriggs, thanks for taking time to school those economic illiterates. 1 Like |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Mandelaguy(m): 4:45pm On Jul 05, 2012 |
The agricultural capacity of Nigeria lost its pedigree a long tme ago. Let us all embrace the current economic development drive and revamp our economy. Ol has brought enough hate,greed and waste. It's time to look inwards and make a total and calculated change possible. All hands must be on this PROJECT NAIJA! |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by SkyBlue1: 5:07pm On Jul 05, 2012 |
PapaBrowne: Really. Wish you knew economics better. Where do people get the money to buy the Agricultural Produce?? If there was no oil money, how would Government pay 3 million civil servants who would in turn buy Agricultural produce?? You beat me to it. The post does indeed shows some lack of understanding. I don't even remember anybody ever claiming oil takes the largest chunk in our GDP. However, considering Nigerians hardly pay tax, it does definitely account for a huge chunk of the money government has to spend on running itself and capital expenditure projects (like Abuja). How many state governments can even survive without oil? Again, Nigerians don't pay tax. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 5:17pm On Jul 05, 2012 |
Sky Blue: Abuja and looting takes the highest chunk of the oil revenue, most states don't really need to depend on oil to survive, if they stop being lazy.. That's more reason why we need to reduce our dependence on oil.. States like Lagos, Sokoto, Anambra, Imo, Ogun, Oyo etc. can survive without oil if they look inwards. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by SkyBlue1: 5:25pm On Jul 05, 2012 |
shymmex: Wrong! Even Anambra that claims to have the lowest unemployment rate is dependent on oil derivation. Most states ARE dependent on oil derivation. You are talking of how you will like things to be, not what partains now. Only at the very most 2 or 3 states can survive without oil derivation as things currently stand (lagos being one because they actually collect tax). No need to beat around the bush with this issue and don't be mistaken. As things currently stand, Nigeria is very heavily dependent on oil (and this is not hyperbole). We have a state welfare oil gravy train the way things stand. Does it have to be that way? No. Is it that way? YES. |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 5:46pm On Jul 05, 2012 |
shymmex:before you run around like a mad dog naming states,it will do you well to attach the statistic/info of each of the state's IGR! |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by jmaine: 6:22pm On Jul 05, 2012 |
The OP deserves severe lashes of barbed koboko strictly landing on his ears for not listening to free education  . . .Which kin pikin pesin born so  1 Like |
| Re: Nigeria's GDP By Sector - Oil Isn't The Major Source Of Our Income by Nobody: 6:24pm On Jul 05, 2012 |
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