rvp2017:
First understand what GDP is and we can proceed. Population has NO bearing. It only comes into play during Per Capita calculation. What is measured is good and services produced/consumed. Our Kenyan tea is measured based on quantity produced and prices it fetches - and the same case with service sectors.

I'd love to hear how Nigeria telcom sector contribute 10% of the 500B USD! This Nigeria GDP is intriguing. It's audacious in the way it's overcooked.

Sadly for you - nobody believe it.

1) NO lender believes it - so you're not getting any loan soon.Kenya when it's issued it Euro-bond (now 4B dollars) it was oversubscribed by 8000%. Chinese have pumped loans worth more than 10B dollars. Because we have revenue (taxes) that can repay the loan. Nigeria with measly 36B budget - cannot even pay decent wages to teacher or army.

2) NO Investor believes it- so no FDI for you. You have to wait for sole man Dangote to try his monopolistic and corrupt ways.

SO your GDP is basically useless...except for lying Nigeria politician to cheat you that "Nigeria is Africa GIANT". Really - when did South Africa and Egypt die

Obi1kenobi:


More phantom claims that he can't substantiate. Care to post FDI stats (not the attractiveness index which aren't hard numbers, but the actual quantity of FDI pouring into countries)? According to one of your most prominent news sites, the most recent figures I could see in 2016 had Kenya attracting less than 10% of Nigeria's FDI: https://www.nation.co.ke/business/Kenya-ranked-ninth-among-28-African-states-in-FDI/996-3386816-5k93pvz/index.html
Even the likes of Ethiopia, DR Congo and Zambia vastly outperformed your paradise on earth.

Since the massive recession, Nigeria has held several rounds of Euro bonds that were oversubscribed by over 400% to 800%. Your 8000% claims of your oversubscription are fabricated. The biggest over-subscription figure I've seen from your Euro bonds bids is 600%. Others hovered between 200% and 400%. We have considerable scope to expand our debt level massively if we choose to. Our limitations is a function of our own conservative fiscal policy and has nothing to do with anyone not lending us money. Just in the last few days, our National Assembly rejected the $350m World Bank granted loan sought by one of the states in the country.

rvp2017:
Nigeria is not improving things. Same with South Sudan. Somalia is trying. Ohoo yeah until 2008 - Kenyans send more student to US than Nigeria - those are facts. But we have improved things locally - and parents don't need to send students abroad! And you have seen pictures of the massive investment we have channeled to higher education. Now we have decided enough with universities - and are now investing massively on mid-level colleges - we realized we need technical workers to produce GDP

Obi1kenobi:


Err...no. Those are not the facts. You assert facts by substantiating them, posting figures and revealing your sources - not making phantom claims that we should accept at face value because you say so.

rvp2017:
I bet all that FDI is just to extract more oil. Nothing outside the oil industry. And you know how that story ends.

As for Eurobond - and other loans - why would any sane person lend Nigeria - what will you repay with? You have messily 36B(including state budget) for 200M people.

You can even have GDP to DEBT ratio of 0% - but REVENUES - what will you repay with? Not kola nuts maybe you can give someone an oil field

Obi1kenobi:


I thought you were dealing with "facts" before? Are you now dealing with your feelings? What do the emboldened nonsense above have to do with facts?

Obi1kenobi:

Just in the last few days, our National Assembly rejected the $350m World Bank granted loan sought by one of the states in the country.

rvp2017:
Those are facts. Why would any sane person lend to Nigeria. They will get repaid with what? Kola nuts?
BIG NEWS - Nigeria get 500M EUROBOND - well some crazy folks actually gave you 0.5B dollars! I guess they won't mind a oil field or kola nuts.
https://www.reuters.com/article/nigeria-eurobond/update-2-nigeria-raises-500-mln-via-15-year-eurobond-with-7-5-pct-yield-idUSL5N1H65SR

Obi1kenobi:


Guess I have to return to pretending to work. Seems a better use of my time at this point than tackling anything you cook up after your delusions and fabrications are busted.

rvp2017:
Actually World Bank has some sense of humour. And your parliament really fell line, hook and sinker. You were looking for what $350MILLION loan. - Why can't mega nigerian banks loan that?

But seriously why would you even talk about 350M dollars in your parliament!

Breaking news! 500B dollar economy denied 350M dollar loan!!!!!!!!!!!!!!!!!!!!!!!!!! - seriously that is small loan that can be issued to small company! Not even enough to gather for facility fee!

Obi1kenobi:


You have serious comprehension issues. One of the 36 states in the country and hardly one of the richer ones, were granted a $350m loan by World Bank, but the National Assembly scuppered it. It's not a Federal loan. Seems Kenyan education didn't do much for you.

Well it's not surprising to me that Nigeria is a 500 Billion dollar economy

frer8:
No one is saying that Kenya is the best in Africa or the world! But I would choose to live in Tanzania over Nigeria never mind SA,Egypt or Morocco !Nigeria might have a bigger GDP but i would say Ghana is more organised and a much more better place to live than Nigeria!

Daejoyoung:

You must be a Nigerian Mr Google. Only a Nigerian can be this passionate about Nigeria.

Obi1kenobi:


You have serious comprehension issues. One of the 36 states in the country and hardly one of the richer ones, were granted a $350m loan by World Bank, but the National Assembly scuppered it. It's not a Federal loan. Seems Kenyan education didn't do much for you.

frer8:
President Uhuru Kenyatta with Member of Parliament for Portsmouth North and Secretary of State for International Development (DfID) Penny Mordaunt and the Chairman of the London Stock Exchange Group Donald Brydon, when he opened the market at the London Stock Exchange. Also present are CS Foreign Affairs and International Trade, Amb. Monicah Juma, CS Industry, Trade and Cooperative Adan Mohammed, PS State Department of Petroleum Mr. Andrew Kamau and High Commissioner of Kenya to the United Kingdom H.E. Lazarus Amayo.

Daejoyoung:

And why is this on a Nigerian forum? what does it have to do with anything?

rvp2017:
Kenya president is better than Nigeria's Buhari - who can barely string a coherent argument . Uhuru Kenyatta is IVY league alumni of Amherst college and Gen Buhari is an army bonobo.

Daejoyoung:

And why is this on a Nigerian forum? what does it have to do with anything?

justtoodark:


we know kenyan leaders are corrupt too....its all over the place in international papers....

Daejoyoung:

Well it's not surprising to me that Nigeria is a 500 Billion dollar economy or even more. Countries with large populations and natural resources tend to have large economies as well, this is simply normal. The problem is when the GDP per capita is low as is the case with Nigeria.
l think you Kenyans need a course or two on Economics. GDP is not a measure of the amount in Government coffers, but the worth of goods and services in total from that country, the Government depending on oil may not be worth more than 60 Billion dollars but the country as a whole could be worth more. Population plays a key role in the total worth of goods in a country, for example the total worth of tea produced in Kenya would multiply by almost threefold in Nigeria same with telecommunication sector where Nigeria has over 100.6 million mobile users currently( that's already more than double the total population of Kenya) etc.
So high GDP is expected for Nigeria, but we have low GDP per capita.