This thread sef . It won't die I swear.
Different strokes, with so many flawed statistics n interpretation and a lot of disagreement.

rvp2018:
Nigeria unemployment figures are hilarious - Yemi Kale over-cooked BS - who claim Nigeria has 6% unemployment - and yet the total taxes paid to Nigeria Gov minus Oil is nearly nothing. Whack methodology. Whack data. If kenya used the same - it could declare unemployment rate of 0%.

Unemployment rate of 6%, population of almost 200M GDP of $500B like they claim yet their budget (Federal plus state) is a mere $35B yet they dare accuse anyone of cooking data? lol.

Just look at these figures...

US GDP = $18.57T
US Budget = $6.541T representing 35% of their GDP

China GDP = $12T
China Budget = $3.596 representing 30% of their GDP

UK GDP = $2.619T
UK Budget = $1.076T representing 41% of their GDP


Germany GDP = $4.212T
Germany Budget = $1.573T representing 37% of their GDP

Kenya GDP = $88B
Kenya Budget = $28B representing 31% of our GDP.

As you can see averagely the budget represents roughly 30% - 40% of the countries GDP.

Now enter Nigeria,

Nigeria GDP = $500B they say. Some here actually claim it's higher.

Nigeria Budget (Federal + states) = $35 billion representing.....well....7% of their GDP.

7%? These are the people who dare call other people's GDP figures cooked? .....and they say they have a 94% employment rate...you mean all those people don't pay taxes on their salaries? And if Kenya cooks it's GDP figures how does it manage to finance the big budget that's almost equal to Nigeria's yet Nigeria supposedly has a much bigger and more valid GDP? Let's say Kenya actually cooks figures like they claim, let's say our GDP is $50B and not $88B, would you really say our budget represents 60% of our GDP? please be honest with yourselves.

mtis:

In a way I do agree but at the same time we gt agree that Kenyans got greater purchasing power than Nigerians . That’s based on what ya just posted

that is not true, how does Kenyans got greater purchasing power than Nigerians?

Go through this and understand thing for your self
https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Kenya&country2=Nigeria

68816419:

that is not true, how does Kenyans got greater purchasing power than Nigerians?

Go through this and understand thing for your self
https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Kenya&country2=Nigeria

lol, Nigeria's local purchasing power is almost 50% lower than Kenya, infact commodities in Nigeria is lower than Kenya by faaar. They're only lower than us in rents.

68816419:

that is not true, how does Kenyans got greater purchasing power than Nigerians?

Go through this and understand thing for your self
https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Kenya&country2=Nigeria

You do realize you pricked your own foot with a thorn with this data of yours do you? (Local purchasing power in Nigeria is 46.55% lower than Kenya)

shervydman:

Lol, at d bolded, u're wrong. Below is the price of beer in the US (owner of $$ u all love to convert currencies to)

Note: the prices are in cases (24 cans of beer). Most are less than $1/beer while u buy urs at $2.

That's d meaning of PPP,u grab??

Have you not gotten enough proof by now that the Kenyans on this thread are poor when it comes to economic data?You've gone above his head.

68816419:

that is not true, how does Kenyans got greater purchasing power than Nigerians?

Go through this and understand thing for your self
https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Kenya&country2=Nigeria

Now if I (Kenyan ) traveled to your Country (Nigeria) I would purchase twice what ya can afford. Quick math broh..Purchasing power broh

[quote author=68816419 post=66985588] IMF World Economic Outlook April 2018 Update

Some interesting stats:

* Egypt predicted to overtake SA in GDP/capita in 2020 and Algeria in 2023, making it the richest large country in Africa both overall and per capita
* SA GDP/captita basically stagnant from 2010 - 2023
* Nigeria GDP/capita predicted to actually decrease from peak in 2014 ($5,754) to

- WTF DON'T YOU UNDERSTAND!? Your GDP was never anywhere near half a trillion dollars! Repeating that figure won't make it so anymore than chanting, "I am the King of Swaziland," wil make their King,my dude.
Until you accept that you're just not making any sense.

NairobiWalker:


Unemployment rate of 6%, population of almost 200M GDP of $500B like they claim yet their budget (Federal plus state) is a mere $35B yet they dare accuse anyone of cooking data? lol.

Just look at these figures...

US GDP = $18.57T
US Budget = $6.541T representing 35% of their GDP

China GDP = $12T
China Budget = $3.596 representing 30% of their GDP

UK GDP = $2.619T
UK Budget = $1.076T representing 41% of their GDP


Germany GDP = $4.212T
Germany Budget = $1.573T representing 37% of their GDP

Kenya GDP = $88B
Kenya Budget = $28B representing 31% of our GDP.

As you can see averagely the budget represents roughly 30% - 40% of the countries GDP.

Now enter Nigeria,

Nigeria GDP = $500B they say. Some here actually claim it's higher.

Nigeria Budget (Federal + states) = $35 billion representing.....well....7% of their GDP.

7%? These are the people who dare call other people's GDP figures cooked? .....and they say they have a 94% employment rate...you mean all those people don't pay taxes on their salaries? And if Kenya cooks it's GDP figures how does it manage to finance the big budget that's almost equal to Nigeria's yet Nigeria supposedly has a much bigger and more valid GDP? Let's say Kenya actually cooks figures like they claim, let's say our GDP is $50B and not $88B, would you really say our budget represents 60% of our GDP? please be honest with yourselves.

I tried to make sense of the shiiit you just wrote but couldn't , Nigeria gat totally different budgeting structures that any other African countries, Nigeria gat "federal " Budgets then " States" budgets, the federal budgets mostly funds federal projects(education,defense,infrastructures......), while states budgets finances states programs , unlike Kenya were all counties highly depends on government for their survival(some states in Nigeria also do but they still fund their "states" bidets , Nigeria's system is totally different, Lagos alone passed 1.1trillions (28b$), Cross river even higher , same goes to other

NairobiWalker:


You do realize you pricked your own foot with a thorn with this data of yours do you? (Local purchasing power in Nigeria is 46.55% lower than Kenya)

Beat me to it..Was about to tell him that

NairobiWalker:


Unemployment rate of 6%, population of almost 200M GDP of $500B like they claim yet their budget (Federal plus state) is a mere $35B yet they dare accuse anyone of cooking data? lol.

Just look at these figures...

US GDP = $18.57T
US Budget = $6.541T representing 35% of their GDP

China GDP = $12T
China Budget = $3.596 representing 30% of their GDP

UK GDP = $2.619T
UK Budget = $1.076T representing 41% of their GDP


Germany GDP = $4.212T
Germany Budget = $1.573T representing 37% of their GDP

Kenya GDP = $88B
Kenya Budget = $28B representing 31% of our GDP.

As you can see averagely the budget represents roughly 30% - 40% of the countries GDP.

Now enter Nigeria,

Nigeria GDP = $500B they say. Some here actually claim it's higher.

Nigeria Budget (Federal + states) = $35 billion representing.....well....7% of their GDP.

7%? These are the people who dare call other people's GDP figures cooked? .....and they say they have a 94% employment rate...you mean all those people don't pay taxes on their salaries? And if Kenya cooks it's GDP figures how does it manage to finance the big budget that's almost equal to Nigeria's yet Nigeria supposedly has a much bigger and more valid GDP? Let's say Kenya actually cooks figures like they claim, let's say our GDP is $50B and not $88B, would you really say our budget represents 60% of our GDP? please be honest with yourselves.

if u wanna convert our budget to dollar, our federal govt have a budget of #8.4t and states have #9.1t. That makes a total of #17.5t, convert that by $305(benchmark conversion) and u have $57.3b.

That's still worth more than 3-4times it's value by Kenyan standard according to PPP.

In investment terms, purchasing power is the dollar amount of credit available to a customer to buy additional securities against the existing marginable securities in the brokerage account or in other terms the value of a currency expressed in terms of the amount of goods or services that one unit of money can buy



Its a good thing my naija peeps

NairobiWalker:


Unemployment rate of 6%, population of almost 200M GDP of $500B like they claim yet their budget (Federal plus state) is a mere $35B yet they dare accuse anyone of cooking data? lol.

Just look at these figures...

US GDP = $18.57T
US Budget = $6.541T representing 35% of their GDP

China GDP = $12T
China Budget = $3.596 representing 30% of their GDP

UK GDP = $2.619T
UK Budget = $1.076T representing 41% of their GDP


Germany GDP = $4.212T
Germany Budget = $1.573T representing 37% of their GDP

Kenya GDP = $88B
Kenya Budget = $28B representing 31% of our GDP.

As you can see averagely the budget represents roughly 30% - 40% of the countries GDP.

Now enter Nigeria,

Nigeria GDP = $500B they say. Some here actually claim it's higher.

Nigeria Budget (Federal + states) = $35 billion representing.....well....7% of their GDP.

7%? These are the people who dare call other people's GDP figures cooked? .....and they say they have a 94% employment rate...you mean all those people don't pay taxes on their salaries? And if Kenya cooks it's GDP figures how does it manage to finance the big budget that's almost equal to Nigeria's yet Nigeria supposedly has a much bigger and more valid GDP? Let's say Kenya actually cooks figures like they claim, let's say our GDP is $50B and not $88B, would you really say our budget represents 60% of our GDP? please be honest with yourselves.

I tried to make sense of the shiiit you just wrote but couldn't , Nigeria gat totally different budgeting structures that any other African countries, Nigeria gat "federal " Budgets then " States" budgets, the federal budgets mostly funds federal projects(education,defense,infrastructures......), while states budgets finances states programs , unlike Kenya were all counties highly depends on government for their survival(some states in Nigeria also do but they still fund their "states" bidets , Nigeria's system is totally different, Lagos alone passed 1.1trillions (28b$), Cross river even higher , same goes to other

NairobiWalker:


You do realize you pricked your own foot with a thorn with this data of yours do you? (Local purchasing power in Nigeria is 46.55% lower than Kenya)

local purchasing power lower than urs means prices of commodities are 46.55% lower than urs. Dude.

mtis:
In investment terms, purchasing power is the dollar amount of credit available to a customer to buy additional securities against the existing marginable securities in the brokerage account or in other terms the value of a currency expressed in terms of the amount of goods or services that one unit of money can buy



Its a good thing my naija peeps

do u understand what this mean??

kikuyu1- WTF DON'T YOU UNDERSTAND!? Your GDP was never anywhere near half a trillion dollars! Repeating that figure won't make it so anymore than chanting, "I am the King of Swaziland," wil make their King,my dude.
Until you accept that you're just not making any sense

lol, that's just a prediction..... read n understand fully before quoting.

68816419:

I tried to make sense of the shiiit you just wrote but couldn't , Nigeria gat totally different budgeting structures that any other African countries, Nigeria gat "federal " Budgets then " States" budgets, the federal budgets mostly funds federal projects(education,defense,infrastructures......), while states budgets finances states programs , unlike Kenya were all counties highly depends on government for their survival(some states in Nigeria also do but they still fund their "states" bidets , Nigeria's system is totally different, Lagos alone passed 1.1trillions (28b$), Cross river even higher , same goes to other

You clearly didn't read my post. I clearly indicated in brackets (federal+states) so don't think you're educating me on anything there, I already know how Nigerian budget works.

You're a super idiot if you honestly believe Lagos has a budget of $28 billion and on that, I won't engage you anymore.

PS..... 1.1T Naira is equal to $2.8 billion not $28 billion. Please get your arithmetics right before trying your hand in economics.

shervydman:
do u understand what this mean??

Am pretending to understand but i totally feel its a good thing

[quote author=kikuyu1 post=66988402][/quote]
And why should we believe yours, can we then say Kenya have the worst economy in Africa as we do not have any indication to measure it but just based on mare hypothesis ?

shervydman:

local purchasing power lower than urs means prices of commodities are 46.55% lower than urs. Dude.

You need proper schooling.

NairobiWalker:


You need proper schooling.

pls, explain what it means?? I beg u.

shervydman:
if u wanna convert our budget to dollar, our federal govt have a budget of #8.4t and states have #9.1t. That makes a total of #17.5t, convert that by $305(benchmark conversion) and u have $57.3b.

That's still worth more than 3-4times it's value by Kenyan standard according to PPP.

Even if I was to assume your figures are correct (I hope they are) that would make your budget a mere 11% of your GDP, still something is not adding up. A budget of $57 billion befits a country of a GDP of between $150B - $250B.

mtis:

Am pretending to understand but i totally feel its a good thing

I like u, u're factual.... unlike nairobiwalker who doesn't understand things but hide under the cloak of intelligence.

NairobiWalker:


Even if I was to assume your figures are correct (I hope they are) that would make your budget a mere 11% of your GDP, still something is not adding up. A budget of $57 billion befits a country of a GDP of between $150B - $250B.

that's where d disagreement turns up. Budgets are spent locally. $1b dollar may build 10 mansions in Kenya and 50 of same mansions in Nigeria. It's not about d figure but what d figure can buy in a country.

shervydman:
I like u, u're factual.... unlike nairobiwalker who doesn't understand things but hide under the cloak of intelligence.

Was that sarcasm or a compliment?i feel dishonored Where is the honor among the …

mtis:

Was that sarcasm or a compliment?i feel dishonored Where is the honor among the …

honor among thieves.... a novel by Jeffery Archer. Read it.

shervydman:
that's where d disagreement turns up. Budgets are spent locally. $1b dollar may build 10 mansions in Kenya and 50 of same mansions in Nigeria. It's not about d figure but what d figure can buy in a country.

Dude, it's not about buying what in Kenya and what in Nigeria, it's the Budget to GDP ratio. To make it simpler for you, it's about what you produce against what you spend - this is a Nigeria v Nigeria comparison not a Nigeria v Kenya comparison. LAWD what schools do you people go to?

Nigeria total budget including States is around 36B dollars.It goes like this..federal budget of $29B - out of which $8B is state allocation. That leave federal budget of $21B. State budget including federal allocation is around 9 trillion naira (with Lagos and River state accounting for most of it)...so in total give and take Nigeria budget is around $35B.

And that is being generous - most of Nigeria federal & state budgets are just ambitious - never financed. All are contigent on crude oil prices. In Kenya it's very rare to have suplementary budget cuts - happen only every 5yrs during election troubles.

And nearly all Nigeria taxes are from oil (Shell!). There is nothing going on there. If Oil goes to 10 barrels now - Nigeria gov will collapse tomorrow.

And Kikuyu1 is right GDP to budget should roughly be around 30-40% of GDP - with GDP to tax - around 20-30% - give and take +-10 (for poor african countries +scandavian welfare state that levy upto 50% taxes).

Nigeria GDP to tax ratio I think is about 5% - the worse in the entire PLANET - and you know why - it coz GDP if totally over-baked.

NairobiWalker:


Dude, it's not about buying what in Kenya and what in Nigeria, it's the Budget to GDP ratio. To make it simpler for you, it's about what you produce against what you spend - this is a Nigeria v Nigeria comparison not a Nigeria v Kenya comparison. LAWD what schools do you people go to?

The budget is low because of corruption, low taxes, and a disorganised informal economy, only the oil sector is organized, and so the Government must find a way to block many loopholes and tax every sector, this all boils down to lack of credible functioning institutions but it doesn't negate the fact that Nigeria is a 400Billion dollar economy. l even believe it's more than that and there have been hints in the past from some quarters that it is way above that.
We are not like the Kenyans who cook false stats and gdp's.
ln the agricultural sector for instance, it is said that Nigeria has the 6th largest farm output in the world with the highest contribution to GDP, but this sector is so informal in Nigeria and not organized. There are so businesses with large herds of cattle, sheep, goats, etc and many business men who avoid tax and do not list their businesses in the stock exchange.

rvp2018:
Nigeria total budget including States is around 36B dollars.It goes like this..federal budget of $29B - out of which $8B is state allocation. That leave federal budget of $21B. State budget including federal allocation is around 9 trillion naira (with Lagos and River state accounting for most of it)...so in total give and take Nigeria budget is around $35B.

And that is being generous - most of Nigeria federal & state budgets are just ambitious - never financed. All are contigent on crude oil prices. In Kenya it's very rare to have suplementary budget cuts - happen only every 5yrs during election troubles.

And nearly all Nigeria taxes are from oil (Shell!). There is nothing going on there. If Oil goes to 10 barrels now - Nigeria gov will collapse tomorrow.

And Kikuyu1 is right - budget & state should roughly be around 30-40% of GDP - with GDP to tax - around 20-30% - give and take +-10 (for poor african countries +scandavian welfare state that levy upto 50% taxes).

Nigeria GDP to tax ratio I think is about 5% - the worse in the entire PLANET - and you know why - it coz GDP if totally over-baked.

ur own posts doesn't make sense right since inception. Why not google how our budget is being spent and check if "states allocations" is included before spewing trash.

There is simply nothing to tax. Nigeria taxes are NOT low. Looking at PWC - coorporate tax is 30%. If Nigeria was 400B economy - it would easily get 50B from coorporate tax alone - by just checking at big listed and private companies.

Look at South Africa - you federal budget is 29B - South Africa budget is more than 120B dollars I think.

http://taxsummaries.pwc.com/ID/Nigeria-Corporate-Taxes-on-corporate-income

Daejoyoung:

The budget is low because of corruption, low taxes, and a disorganised informal economy, only the oil sector is organized, and so the Government must find a way to block many loopholes and tax every sector, this all boils down to lack of credible functioning institutions but it doesn't negate the fact that Nigeria is a 400Billion dollar economy. l even believe it's more than that and there have been hints in the past from some quarters that it is way above that.
We are not like the Kenyans who cook false stats and gdp's.

Daejoyoung:

The budget is low because of corruption, low taxes, and a disorganised informal economy, only the oil sector is organized, and so the Government must find a way to block many loopholes and tax every sector, this all boils down to lack of credible functioning institutions but it doesn't negate the fact that Nigeria is a 400Billion dollar economy. l even believe it's more than that and there have been hints in the past from some quarters that it is way above that.
We are not like the Kenyans who cook false stats and gdp's.

You're here telling us how Nigeria is one hell of a disorganization and that you don't even believe the statistics of your country yet at the same time you and your brothers here in denial are claiming Nigeria's statistical capacity is up there while Kenya's is wanting. Lord have mercy.