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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) (6451724 Views)
Am I The Only One Whos Tired Of This Kenya Is Ahead Thread / Femi Adesina: "I Don't Lie, No Matter What"; Nigerians React / Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode (2) (3) (4)
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Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Ibrahimanis: 12:46pm On Jan 28, 2019 |
Lagos - Ibadan 2 Likes 2 Shares
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Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 12:48pm On Jan 28, 2019 |
Nigeria's GDP per-capita fall is imminent! https://www.dailytrust.com.ng/imf-warns-nigeria-over-falling-real-gdp-per-capita.html rvp2018: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 12:49pm On Jan 28, 2019 |
Only about 8-10B - of 25B external loan - that we owe - are commercial - the rest are concessionary - low interest long maturity. Therefore there is no debt crisis. We have nearly the same revenues - and you owe 78B dollars - we owe 56B. You know who has problem repaying. Just check revenue to debt. Nobody cares about fake GDP to debt. You don't repay debt with GDP - you repay with gov revenues. 68816419: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 12:49pm On Jan 28, 2019 |
Why does your railway bridges look lackluster? Ibrahimanis: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 12:55pm On Jan 28, 2019 |
As long as pop growth exceed gdp growth - then it's kenya in 70s, 80s and 90s. It zero work. The throw in Naira continuing devaluation against the USD - and that is a double whammy. For the country to grow - you need to control population. Jonraid: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 1:22pm On Jan 28, 2019 |
They will soon go the Angola way.Nigeria is finally down to what seems likes just two exchange rates; one is the official central bank rate of 305 per dollar, while the other is between 360 to 365 at the interbank and parallel market. David Cowan, an Africa economist at New York-based Citigroup Inc., the world’s biggest foreign-exchange trader, called it a “devaluation by stealth.” They will soon devalue the currency.They have devalued the Naira when they were in wars and also during some past world economic crises! https://www.thecable.ng/nigeria-two-exchange-rates-naira-devaluation-needed-make-one rvp2018: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by edon21: 1:26pm On Jan 28, 2019 |
Ibrahimanis:I told them that there s no need for much argument. let's just wait for two more years and then compare |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 1:26pm On Jan 28, 2019 |
There are actually 3. Central bank rate you only get if you know Buhari. The Bank rate you only get if you friends to the bankers. Both involve a lot of documentation on why you need dollars. Then there is the real exchange - the black market - where most Nigerian buy their dollars https:///euro-to-naira-exchange-rate-in-black-market-today/ . The rate is around 410 nairas for a dollar. You can imagine the amount of money people are making playing those 3 exchange rates. Arbitrage 101. You buy from Abuja's CBN dollars for 305. Then sale it at your bank for 360 or black market for even 450. If you use the real exchange rate (black market) their nominal GDP crushes by 25% to something 250-300B. That is very close to their real GDP. But of course like you said - they will not allow market forces to determine the value of Naira - it will be a bloodbath. Jonraid: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by tylann: 1:28pm On Jan 28, 2019 |
Kur17: He is an idiot without knowing it |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by tylann: 1:31pm On Jan 28, 2019 |
Ibrahimanis:good development but they look old |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by edon21: 1:33pm On Jan 28, 2019 |
tylann:old?? do you have a sight problem 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 1:33pm On Jan 28, 2019 |
They are old. Their SGR began way before ours but they are moving at snail pace. You know there is expressway - dual way - btw Ibandan & Lagos - that they'v been building since 1970s. A road a mere 150kms away. The contractor - US's berger has had a town named after it - they've been there forever ![]() tylann: 3 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 1:33pm On Jan 28, 2019 |
How should Nigeria deal with this? Should they leave the Naira exposed in the international market so that they can know it's real value? rvp2018: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by theenchanter: 1:34pm On Jan 28, 2019 |
Jonraid:what are d major components of kenyan economy? ![]() U can't keep avoiding ur country's woe n masturbate over Nigeria's economy. 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Kur17: 1:35pm On Jan 28, 2019 |
Jonraid: Soon Nigeria will join LDC countries like Burundi, Ssudan, Liberia, Tanzania... |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 1:37pm On Jan 28, 2019 |
That is the only way - let Naira float on it's own - with their central banker occasionally intervening based on their monetary policy - but having such huge difference btw exchange rates is crazy - the arbitrage is benefiting a few banking & political elite in the forex business. Just imagine the margin on profits. Zero risk. You buy USD for 305 - and next day - sell it for 360. 60-105 naira profit selling each dollar. Jonraid: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 1:37pm On Jan 28, 2019 |
The main sectors contributing to economic growth are building and construction, infrastructure development, manufacturing, transport and services, and tourism particularly from emerging markets; agriculture, and wholesale and retail. http://www.kenyarep-jp.com/business/key_sectors_e.html theenchanter: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 1:44pm On Jan 28, 2019 |
''The Federal government tried to hold Naira at N195-200 to Dollar. Still, the real price for Naira at the black market was about N300 to one dollar. It also created corruption schemes, where banks bought dollars for N200 and sold them at the black market for N300.'' ''This problem stays the same in 2017. The CBN exchange rate Naira to USD is N315 to 1. At the same time, the black market sells one dollar for 375 Naira. International investors do not desire to conduct affairs with this exchange rate. It means that Nigeria can`t expect investments from international partners. International banking institutions give Nigerians the same advice – "set your currency free". It will stabilize the economy and invite a lot of investors in the country. Moreover, it will destroy corruption schemes where banks buy from the CBN for N315 to 1 and sell at the black market for N375 to 1.'' Read more: https://www.legit.ng/1106117-naira-cedis-which-valuable.html rvp2018: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Daejoyoung: 1:45pm On Jan 28, 2019 |
Jonraid:Can you give a breakdown of all of these? lol. Modified... Ok from the link,tea and coffee contributes a lot to your GDP, not necessarily infrastructure development, this is why your GDP is a meagre 80 Billion dollars. |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by 68816419: 1:45pm On Jan 28, 2019 |
IMF:
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Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by theenchanter: 1:50pm On Jan 28, 2019 |
Jonraid:i'm not asking of d sectors contributing to ur economic growth, those sectors u mentioned contributes to economic growth of all developing countries excluding tourism. What are d major sectors of the kenyan economy? Let's start from there. 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 1:53pm On Jan 28, 2019 |
The same sectors that I've just told you,if you know any other sectors apart from those.Just tell me! theenchanter: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Kur17: 1:53pm On Jan 28, 2019 |
1 Suswa railway station renders, (faults that created the great Riftvalley) 2 Ngong railway station (flying eagle)
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Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by theenchanter: 1:54pm On Jan 28, 2019 |
Daejoyoung:according to d mumu rvp, d guy will be like....their agriculture is 25% of GDP, so their agriculture is worth $20b, producing just tea n coffee. Their GDP is cooked, mumu guy. ![]() 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Kur17: 1:56pm On Jan 28, 2019 |
68816419: Confirmed we beat Ethiopia with $10b, soon we'll overtake Angola |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 1:56pm On Jan 28, 2019 |
A breakdown was given,sector by sector.I'm afraid you'll have to go hundreds of pages behind! Daejoyoung: |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by theenchanter: 1:58pm On Jan 28, 2019 |
Jonraid:the thing is, ur economy is not as juicy as portrayed, I'm not just interested in long unnecessary argument. But if u'll be cool headed and won't resort to cheap talk, we can discuss both countries economy here. With no emotions. 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by theenchanter: 2:00pm On Jan 28, 2019 |
Kur17:yeah, keep overtaking them, south africa is ur target. Only on nairaland. ![]() |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by obaaderemi: 2:03pm On Jan 28, 2019 |
68816419: ![]() 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 2:06pm On Jan 28, 2019 |
Agriculture is actually more than just tea and coffee.You know that! To come up with that 25 b,you'll have to factor in each price of the maize bag produced,the value of the millions of liters of milk sold in the economy to the hides and skins that were sold locally and exported and e.t.c What's funny about your GDP is that your export billions from agriculture or any other sector combined don't even shock Kenyans.Look at South Africa's exports for example.Look at their bank assets which are worth 400b,Nigeria's ones are around 100b and Kenya's ones around 41b as quoted from https://www.capitalfm.co.ke/business/2017/06/kenyan-banks-assets-hit-sh4-1-trillion-2016/ Nigeria's larger GDP than South Africa doesn't seem to compete with it in almost all indices! This is why we found your GDP FUNNY! theenchanter: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Kur17: 2:06pm On Jan 28, 2019 |
Constructions everywhere...
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Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by obaaderemi: 2:07pm On Jan 28, 2019 |
theenchanter:Little India's economy is overcooked like ofada rice. The world bank has suspected them for years. 2 Likes |
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