menesheh:
NIGERIA has been adjudged the world's 22nd largest economy with an annual growth rate of 5% during the course of 2015 according to the latest survey of the planet's wealthiest countries the International Monetary Fund (IMF).

According to the figures published yesterday, Nigeria's gross domestic product (GDP) is set to total $1.105trn in 2015, representing a 5% growth from last year. Despite global crude oil prices falling by about three quarters over the last year, Nigeria has defied the negative growth that afflicted several crude-producing countries.

Of the world's 30 largest economies countries examined in the survey, oil producers like Brazil and Russia suffered declines in GDP. Africa's two other economies on the list Egypt and South Africa, who were ranked 24th and 30th respectively, enjoyed GDP growth rates of 5.2% and 2.4% respectively.

In terms of growth, Nigeria, was also the sixth highest achiever as only China, India, Egypt, Pakistan and the Philippines recorded higher GDP growth. Other key features of the survey was that China overtook the US as the world's largest economy with a GDP of $19.51trn, India moved into third place thanks to its 8.3% growth rate that bumped GDP up to $8.02trn and Egypt overtook South Africa as Africa's second largest economy.

Over the last 15 years, Nigeria has enjoyed annual GDP growth rates of about 7% but with crude oil prices falling to about $40 a barrel from over $100 a barrel, it is no surprise that growth has slowed. Despite this, the economy continues to diversify and the country remains on course to achieve its goal of becoming one of the world's top 20 economies by 2020.

International Monetary Fund statistics at October 2015

1. China: US$19.510 trillion (up 7.9% from 2014)
2. United States: $17.968 trillion (up 3.6%)
3. India: $8.027 trillion (up 8.3%)
4. Japan: $4.842 trillion (up 1.6%)
5. Germany: $3.842 trillion (up 2.5%)
6. Russia: $3.474 trillion (down -2.9%)
7. Brazil: $3.208 trillion (down -2.1%)
8. Indonesia: $2.839 trillion (up 5.7%)
9. United Kingdom: $2.660 trillion (up 3.5%)
10. France: $2.647 trillion (up 2.2%)
11. Mexico: $2.220 trillion (up 3.3%)
12. Italy: $2.174 trillion (up 1.8%)
13. South Korea: $1.849 trillion (up 3.7%)
14. Saudi Arabia: $1.681 trillion (up 4.4%)
15. Spain: $1.636 trillion (up 4.1%)
16. Canada: $1.628 trillion (up 2%)
17. Turkey: $1.576 trillion (up 4.1%)
18. Iran: $1.382 trillion (up 1.8%)
19. Australia: $1.137 trillion (up 3.4%)
20. Taiwan: $1.114 trillion (up 3.2%)
21. Thailand: $1.107 trillion (up 3.5%)
22. Nigeria: $1.105 trillion (up 5%)
23. Poland: $1.003 trillion (up 4.5%)
24. Egypt: $996 billion (up 5.2%)
26. Pakistan: $930.8 billion (up 5.3%)
27. Netherlands: $831.4 billion (up 2.8%)
28. Malaysia: $813.5 billion (up 5.7%)
29. Philippines: $742.3 billion (up 7%)
30. South Africa: $724 billion (up 2.4%)

-International Monetary Fund's World Economic Outlook database.


- See more at: http://www.nigerianwatch.com/news/8271-latest-imf-figures-show-nieria-as-worlds-22nd-largest-economy-with-gdp-jof-11trn

harristo:


What am I missing? Nigeria is the 22nd world largest economy and things are this bad. This means achieving their goal of being one of the world's top 20 economies by 2020, won't change things much.
Back then when I used to read about this goal of theirs, I would thing that being among the world's top 20 economies, or even close like the 22nd, meant great improvement in every sector of the country - like having constant light, tared streets etc

Kyase:

Shatap if the news was "Nigeria drop to 35" would you say its Gej's legacy?
Baba carry go.

menesheh:
GEJ handwork.


lalastica

Rossikk:
Why not start a small scale manufacturing enterprise at home? You can make bags, sandals, furniture, and a hundred other items. You'll make more money than a salary could pay you. The advantage you have is the booming economy we have, hence there's a ready market for your products.

baralatie:

The report is on GDP

baralatie:

God bless everyone,presidents,citizens who have worked to make Nigeria proud!
This comments is for PMB and the APC to key into the numerous achievements Nigeria has achieved and stopand its propaganda campaign.
This is the summary about Nigeria that puts it on the Global stage!



"Over the last 15 years, Nigeria has enjoyed annual GDP growth rates of about 7% but with crude oil prices falling to about $40 a barrel from over $100 a barrel, it is no surprise that growth has slowed. Despite this, the economy continues to diversify and the country remains on course to achieve its goal of becoming one of the world's top 20 economies by 2020."




God bless Gej for his efforts and God Give PMB wisdom to key into this vision .
God bless Nigeria.

keyzid:
I'm forced to ask what your highest education qualification is.

keyzid:

Just imagine. something which is rated over the year and Buhari has not spent up to a year. How can you not see this as a justified Gej's achievement?

keyzid:
or his Gej the one responsible for current fuel scarcity? huh...

keyzid:
ok. the power dropped again,

keyzid:

is Gej still the one affecting that? haba... Abeg, stop being hypo critic. ok.

kozmokaz:
gej legacy remains

Promhize:


And Ngozi Okonjo Iweala's brilliance

Enesi47:
what about the fuel scarcity who's fault?

mazeltov:
Nigeria is already on the path of failure. How can we move forward when we keep misplacing praises and criticism.
Stupidity is when we blame Buhari for our current economic failure and praise Gej for our IMF ranking

billyG:

U mean Gej Belittling & Demeaning Recieve sense IJN.

mikolo80:
what legacy
what did he do
Just name 3

menesheh:
GEJ handwork.


lalastica

Jesusloveyou:
i weep to see small Taiwan is ahead of nigeria, that is d handwork of ur clueless corrupt gej and saTANist pdp, by now we would have be in top 15, well as it is now, as far as no money wil miss again, within 2yrs we wil be ahead of Spain to be in 15th position.

dukecharles:


So you were not born last year when Nigerian was ranked as African Largest GDP overtaking south Africa.
Is like you lost touch with reality.

YoursGEJ:
All those saying it is GEJ's handwork should note that the value of the economy was only recalculated under his regime. This has always been done by the World Bank by the way. Only the National Bureau of Statistics for some reason continued to use the old figures. The economy has constantly been growing at 8% since the boom of the telecoms industry under OBJ in 2003 but was measured using old parameters. Economic growth actually slowed under GEJ when boko haram began to terrorize on a massive scale otherwise the value would be even bigger that we have right now

I have attached a graph from the world bank. You can clearly see that the GDP spiked about 34% in 2003 under OBJ. It was the lowest it has been for over 10 years (4% in 2012) under the 'best president' GEJ. You 'educated' GEJ supporters should please show me where GEJ catapulted Nigeria's GDP to the top one in Africa. Illiterates who cannot perform a simple google search coming here to demonstrate their endowed stupidity.

mazeltov:
I commented with my knowledge and not any educational influence.. When you answer these question then you will know how friendly you are with ignorance so use your common sense if you have.

You are so intellectually blinded to the extent of sidestepping facts!! Did it escape your mind that our economic has started declining right before the election?

mazeltov:
Buhari has spent 6 months and he just recently unveiled his cabinet - of which, this cabinet has not made any relative contribution to the system. In your wide illusionary thoughts, you went ahead to blame a 6 months administration and forgot to blame 6 years administration for failling to divert our economy, you have also failed in your paralytic thoughys blame 6 years administration and its quack economic team led by Ngozi Okonjo for lying to us about our economic stance!! Can you now see how ignorance has damaged your brain?

mazeltov:
olodo. Was there no fuel scarcity during Gej's administration? Or who told you that the current fuel crisis is everlasting?

mazeltov:
Was there no power failure under Gej's administration? Didn't power generation drop under Jonathan's administration?
Was Gej able to solve our power problem during his 6 years reign of impunity?
I'm having at least 14 hours supply in a day which I have never experienced before.

mazeltov:
until you remove your political affiliation spectacle in your eyes then you will keep posting prejudiced comments against the present administration.

johnydon22:


It is embarrassing... A country of 170million settled for a one time military head of state, old and half educated to lead her in the 21st century. . . Instead of moving with time we went back more than 30 years backwards

excel101:
. Which Baba and where he dey carry go to? Person wey no know wetin he dey do. No worry wen dullardhino brain go u, u go undstnd better. Gej na u biko

keyzid:
It is so glaring now that you are so uneducated and your words are full of gibberish.
Now, Lets be analytical on this issue.
The Topic of this post was to show how much Nigeria have increased in it GDP over the year compared to few years back. Your daft and ugly reply was to discredit those praising this achievement to GEJ which you blindly argued and tagged them critics.
in your demeaning post, you said


An economy that declined just recorded a great feet. Don't be an idiot ok. lemme educate you a bit.

What a pity such a young deluded lad got his filthy thumbs laid on his mistakenly dashed out trashed mobile phone to type arrant nonsense. This post just showed how idiot and foolish you are. What do you think of an economy who is on auto-pilot with no one to make drastic decisions? huh.. Nigeria was with months with no Minister to take on our economical growth and steps to get things working! oh no...you still blame that on GEJ. had Buhari put in place ministers to work, i don't think things would have gone worse like this.


Of course there was... buh last i remember, you are just an idle filthy looking small boy who's work all day is to sit down with his rusty outdated mobile. Buh lemme ask you, how long has this current fuel scarcity started and not ended? huh....


That's whhy i will keep saying you are still a todddler and just a small lad wandering with his outdated mobile keeping his thumbs depressed on those ugly looking buttons to spew out trash.
Buhari had no Minister for power. How could you then think the success to increase in power generation is a fleet attributed to Buhari... huh... still a small boy thinking about it right. go back to your secondary school social studies text book and get educated.
concerning the 14 hrs thing claim. I can tell you right here where i am, i power my generating set almost very night just maneuver darkness. Day light not left out with its own disappointment. now what are we saying here... you lying fat oaf.





I don't trust any political party or political man. It's you who should get your skull drilled and groomed to the right duirection and see the real deal going on with this present adm.