weyab:


May b someone is by your side thus lack some concentration

Well osibanjo can do sometin beta..if not that then ntg

bros, na one babe with heavy kaka whey e pass beside me distract me. Have seen it already.

Well I hope so and I believe this 2017 Q1 GDP report will be favourably.

Omotayor123:

Wow.. Nice observation Mr. Economist

Lol kilo mo de mo? which kind mr. Economist, hehehe madam tayo sef.

wristbangle:


Lol kilo mo de mo? which kind mr. Economist, hehehe madam tayo sef.

happy Sunday!

See the wide difference between Real GDP and Nominal GDP

You can tell that inflation has eaten deep into Nigeria.

All because of the Dullard of Daura

eezeribe:
Thanks op.But I can tell you that this info is like rocket science to the Average Nigerian youth.they won't understand an iota of it(if they even attempt to read it)unless you simplify it like Big brother Naija which is their favorite.
Just watch and see how average minds would start quoting me.
Anyway,I have saved the details and I am out of the thread.

I DEDICATE this FTC to All the 'Above Average' ones out there.

I bet my last penny that you didn't understand sh*t what's written up there. You are only trying to sound intelligent. Your type stands out: 1st to pass their papers during exams and 1st to whine about how the teacher was so unfair to them albeit having answered all the questions very well!!!

EazyMoh:

Wonderful analysis! However I believe should be strictly in one type of currency. Even the USD isn't that stable, especially when comparing GDP after long periods of time.
But the question is has the Nigerian GDP always been calculated in Naira by the bureau of statistics?

I agree.

What I mean is it should not be taken at face value.

Because what seems like an increase might actually be flat or even a minus once discounted for inflation.
Since in relative terms, the economy might not actually be bigger in 2016 Q4 than it was in 2015 Q4.

Remember that if we are going to compare our economy with South African, Egyptian or Ethiopian economy, we cannot use the Naira.
It has to be converted into dollars. Therein lies one of the important aspects of our GDP worth in dollars.

adegeye38:
96% of our exports in oil mostly, then we use more foreign exchange to import d refined oil abroad, while there is enough money to build thousand of refineries here.

wonder why d naira keeps losing value

with 11 million hectres of farmable land, and 180 million people our agricultural exports is almost at 0% percent....... insane

and wonder why the country keep on spiraling down in recesion and unemployment is rampant.

the diverse potential in the agricultural sector alone is tremendous

our productivity as a people is zero

U strike a key point @ the bolded in your comment. Two things are still responsible

1. Corruption

2. We are still import based economy according to the data presented. If dangote refinery starts production before 2019 coupled with FG selling abi outsourcing our refineries to investors, major import from refined motor spirit will drop, with the value of naira appreciating more.

What states produce cocoa beans? Thanks

ScorchedViper:
What states produce cocoa beans? Thanks

Most SW states - Ogun, Oyo, Osun, Ondo.

the government needs to do more in diversifying areas of revenue generation.

Agriculture & the extractive industry (solid minerals) needs to be given a lot more attention than it is presently getting.

to move forward, we must get our hands 'dirty' by going back to the basics.

tribalistseun:
Buhari don't you ever ever come back again.

Was that development as a result of Buhari absence?

Nnamdisblog:
Nigeria's Trade Data: Top Imports And Exports, Gross Domestic Products reports for last quarter of 2016.

Credit: NBS.

http://www.naijahelm.com/2017/03/nigeria-trade-data-gdp-top-imports-and.html?m=1

Lalasticlala, Mynd44

The trade volume/value ain't increasing. According to the data you provided here, in the 4th quater of 2015 the trade volume was at N3.52tr and at that time a dollar was N250. So if you convert N3.52tr to USD, it's $14.08Billion. While the trade volume of 4th quarter of 2016 which is N5.29tr is valued at $10.58Billion at the current exchange rate of N500 to a dollar.

So you see my friend, it ain't growing, instead its going down. Don't be deceived by the amount of naira, cos the currency doesn't have value

LorDBolton:

Stop being childish.

Go and ask an American how much they owe Saudi Arabia or china... if they know

This is a field for the economist, financial analyst etc NOT for the doctors, engineers etc

It's obvious u don't Even know the financial stats behind BBN, behind football... if our lousy govt invests in our league do u know how much revenue, job creation, nationalism, imperalism(other countries following our league) it will bring?

You're dissing BBN & football viewers... yet you call yourself an "above average mind"

GTFOH

So because one is not a medical doctor or pharmacist, he ought not to know about HIV/AIDS abi? Or because I am not a computer scientist I should not know what video streaming means?

There are some general stuff an educated mind should know. I think the meaning of foreign reserve is one of them. Roughly Foreign Reserve is the funds a country sets aside from its export earnings as a back up for rainy days.

tribalistseun:
Buhari don't you ever ever come back again.

It was 2016 bruh

eezeribe:
Thanks op.But I can tell you that this info is like rocket science to the Average Nigerian youth.they won't understand an iota of it(if they even attempt to read it)unless you simplify it like Big brother Naija which is their favorite.
Just watch and see how average minds would start quoting me.
Anyway,I have saved the details and I am out of the thread.

I DEDICATE this FTC to All the 'Above Average' ones out there.

LOL @ shade @ the valueless big bother naija bullzhit

hero2000:


So because one is not a medical doctor or pharmacist, he ought not to know about HIV/AIDS abi? Or because I am not a computer scientist I should not know what video streaming means?

There are some general stuff an educated mind should know. I think the meaning of foreign reserve is one of them. Roughly Foreign Reserve is the funds a country sets aside from its export earnings as a back up for rainy days.

This is the line I found offensive about his post:
Ask them what is the country's foreign reserve they won't have a slim idea

The use of "What" there means he was referring to figures not definition...

Even the HIV u mentioned, MANY PEOPLE (educated sef) do. Not know the full meaning.

No educated person can knock someone based on his / her interest... an educated person looks for a way to "corner" and "exploit" that market...

I only criticise BBN viewers cos it's unpatriotic.

In relation to the post, can u blame them? When we keep hearing and seeing figures (for example after GDP rebasing done by NOI they Said we have the largest economy in africa), yet the poverty level increased over same period? We're still a generator powered economy?

How will the man on the street feel na??

Truth is the average (below n above) man on the street is so disillusioned with the state of naija that he has NO interest in seeing any economic data.

Lemme buttress my point, i'm sure you're aware of the stock market crash that happened years ago? Prior to that period every tom-dick-harry was willing to invest in share offers (IPO's), azzin eager.

They'd buy newspapers and immediately glance at the stock mkt report to know what's up, some were putting it in their will.

They'd always be boasting 'I'm worth this. N that... Then out of nowhere the true financial affairs our seemingly 'strong corporations' (especially banks) started unraveling and now some bank stocks go for as low as 81kobo.

So abeg shey u wan blame people wey don tire for our data?

Now every thread on NairaLand with who comments first (acclaimed smart/intelligent ones) take the liberty of making derogatory statements on facts that they are good on analysis and can solve Nigeria's problems. There are ways you pass on information without the need to indirectly insulting peeps here because everyone understands differently (as there are many ways to solve a particular maths). Naija is a nation known for respect/humility but too much of American movies or abi na American English don eat deep into some of us. As for the GDP analysis OP can keep it cos me no need am
Cos them don too take paper work wreck we country. In other news I dey wait to hear say dollar don come down to #150 or even less

AreaFada2:


I have been saying this here especially in the last few days.

There was even a thread panting ND states as the most corrupt just days ago. By those from the usual regions of course. We all know the reason for the thread is envy over the abysmal 13% derivation. The same regions that if they produced the oil, they won't even give up 50% of the proceeds. Nigeria might even exist anymore.

Those who fought for 13% like Ibori & DSP are suddenly the only corrupt people Nigeria ever produced. OBJ, Tinubu, IBB, Danjuma, Abacha & others are all saints.

Leave them. Truth always catches up with lie.

My brother let's keep watching them
Same yayi said on TV said we shouldn't be given 13% derivation but now Lagos has found oil
He is mute
We keep watching the worms while they play hate politics and say they are the most accomdating tribe

Suddenly our ibori is a thief and thier tinubu and fashola are saints

I'm honestly surprised half of you can't understand simple trade data. They even broke it up into pretty pictures. The core issue is is oil export dependant nation because it has not industrialized or built up refining capacity.

Blue3k:
2016 shows continued trend importing mainly machinery (capital goods), mineral products (fuel), Chemical Products, then food comes in forth. Last place is base metals.

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Ajah-lekki is where my buses are plying and that's where all others will be plying too.

And like already stated, maintenance is on us and we pay N100K per Month

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Agimor:
Nigeria is indeed a consuming nation.

Yes, a totally import dependent/consuming nation, relying almost entirely on Niger delta oil for survival. Little wonder guys up north and their loyal "slaves in the south will rather die than see Nigeria break up. What a parasitic union. Exports shows crude oil at 94%, vegetables 1.4%, cocoa 0.9% and others from the south that make up 99.9% of our exports yet the parasitic North takes a lion share of the proceeds/revenue even when they are nothing but a liability contributing Nada to the nation. This grave injustice will not continue indefinitely, thank God for those whose eyes have been opened and are now fighting for their rights.

The growth is beginning but it is still very much associated with crude oil and natural gas exports. It is still a monoecoomic nation relying on resources from one region. No wonder the extent of impact and pressure.

The diversification drive seems to be very slow. Perhaps comparism with previous years might give us information on this trend.

The fact that we hardly export Chemicals and allied products implies our science and technology and quality manufacturing is in a real mess! There is hardly technological innovation.

It is alarming what we spend on Refined Petroleum Products while we are supposed to have 4 functional refineries. Dangote is going to be super rich when his Ibeju-Lekki facility kicks off.

We spent 15 billlion on importing crude palm oil? Is it the same palm oil or another one? See demand- supply gap o. Please who will join me in opening an oil palm farm and processing plant!

wristbangle:


Most SW states - Ogun, Oyo, Osun, Ondo.

You forgot that Cross River, Abia, Taraba, Delta & Edo States are equally cocoa producing states. My question based on this statistics is, what would earn Oduduwa rep & Arewa rep foreign exchange when Nigeria goes the way of USSR? Militants blew up some pipelines, production went down and boom our local currency crashed, the economy went into recession and Nigeria hit rock bottom in all indices! Niger delta States should demand a minimum of 50% derivation principle. Enough of all these exploitation. Even Ugu that is majorly produced in the SE/SS has more export value than cocoa yet some propagandists with their cheap tabloids keep making noise with it. This country irritates and disgusts me!

Nice information.

[quote author=OmaniPadmeHum post=54297093]The growth is beginning but it is still very much associated with crude oil and natural gas exports. It is still a monoecoomic nation relying on resources from one region. No wonder the extent of impact and pressure.

The diversification drive seems to be very slow. Perhaps comparism with previous years might give us information on this trend.

The fact that we hardly export Chemicals and allied products implies our science and technology and quality manufacturing is in a real mess! There is hardly technological innovation.

It is alarming what we spend on Refined Petroleum Products while we are supposed to have 4 functional refineries. Dangote is going to be super rich when his Ibeju-Lekki facility kicks off.

We spent 15 billlion on importing crude palm oil? Is it the same palm oil or another one? See demand- supply gap o. Please who will join me in opening an oil palm farm and processing plant!




[/quoteBased on your last sentence, we have over 130 plots of land, with palm oil plantation, available for sale in Obinze, IMO state @ 500k each. You can check my signature for contact information if you are really interested.

eezeribe:
Thanks op.But I can tell you that this info is like rocket science to the Average Nigerian youth.they won't understand an iota of it(if they even attempt to read it)unless you simplify it like Big brother Naija which is their favorite.
Just watch and see how average minds would start quoting me.
Anyway,I have saved the details and I am out of the thread.

I DEDICATE this FTC to All the 'Above Average' ones out there.

You don't talk out your arse and not get some good old bollocking.
So being able to read/interpret the most banal of data charts and infographics suddenly puts one "Above Average"?
What's your beef with BBN and the "average Nigeria youth"?
See how he ignored the whole issue at hand just to show himself...empty vessel.

InvestinOwerri:
You forgot that Cross River, Abia, Taraba, Delta & Edo States are equally cocoa producing states. My question based on this statistics is, what would earn Oduduwa rep & Arewa rep foreign exchange when Nigeria goes the way of USSR? Militants blew up some pipelines, production went down and boom our local currency crashed, the economy went into recession and Nigeria hit rock bottom in all indices! Niger delta States should demand a minimum of 50% derivation principle. Enough of all these exploitation. Even Ugu that is majorly produced in the SE/SS has more export value than cocoa yet some propagandists with their cheap tabloids keep making noise with it. This country irritates and disgusts me!

You are right (Some SS and North Central are cocoa producing states) and that is why I will support federalism, each regions with his own policies to develop it. It's not only ugu that amounts to the 0.4percent contribution, other vegetables are included.

As for oil, remember that Ondo state is also part of oil producing state even though the contribution can't be compared to other SS oil producing states. For now Lagos state crude oil is still meagre but more seismic analysis is still ongoing by upstream oil magnates as recent statistics show that the state has several millions of crude oil deposit in its onshore.

SuperS1Panther:
Gradually the economy is looking north and there is hope in the horizon.

The cup is half full from my view, while born haters and wailers will definitely see as half empty with their corruption laden eyes.

how is it going up. pls explain

wristbangle:


You are right (Some SS and North Central are cocoa producing states) and that is why I will support federalism, each regions with his own policies to develop it. It's not only ugu that amounts to the 0.4percent contribution, other vegetables are included.

As for oil, remember that Ondo state is also part of oil producing state even though the contribution can't be compared to other SS oil producing states. For now Lagos state crude oil is still meagre but more seismic analysis is still ongoing by upstream oil magnates as recent statistics show that the state has several millions of crude oil deposit in its onshore.

No be only millions na zillions

tribalistseun:
Buhari don't you ever ever come back again.

Please be informed that Q4 2016 means fourth-quarter of 2016 which is a period between October to December 2016. The last I checked Prof Yemi Osinbajo was then and still is the head of the economic team of this administration. Also, Buhari was in the country when this analysis was made.
Wake up bro,it's twenty first century