While Orji Uzor Kalu, an Ibo man, is a close friend to Dangote (Hausa) and Adenuga (Yoruba), the layman on the street will always attack other tribes to show "superiority". Ken Nnamani is a loyal friend to Atiku. The bond between Okorocha and Fashola is getting stronger. Yet the masses are clutching to the straws of the past (straws of the civil war), while looters from the north and south gulp the resources of the country without even asking themselves where they come from.

OP, $21bn dollars is the amount that was accounted for. I mean the money that came in through formal means. We all know most nigerians abroad send money thru folks that are returning home. This informal means of sending money would make the $21bn look like childs play. Let's say the real amount is $60bn. Now, it means a good percentage of Nigerians abroad are doing very well.

It also goes to show that this government is the hindrance to human development. That's why I tell folks at the career section that nigerians are not lazy. A week in France would make u appreciate the hustle of an average nigerian. Yet the very lazy french enjoys good standard of living cos the government made it possible.

Nigeria is the 40th largest economy in the world. Our GDP was about 40trillion naira last year, yet in the human development index, we are ranked 156th. In Ease of Doing Business (which includes access to credit, security, infrastructure, government support) we are ranked 131 out of 178 countries. U see that the GDP isn't commensurate with the standard of living of the people because a Phd holder in Zoology, who should be comparing the colours of the chameleon in the zoo, the temperature of snakes in rainy season, is the President.

Kudos to those who voted for him.



Frawzey

when will some people grow up?

The primary factor that motivates a bank to expand its branches is Profitability based on the bank expansion strategy in Nigeria and from statistics from CBN the most profitable places for bank business can be found from the table below (No serious bank would open a branch in an unprofitable and nonviable location with no customers)

Number of Commercial Banks
Lagos
Abuja
Rivers
Anambra

The Cash flow in a state does not have a bearing on the GDP of the state however it does show the rate of economic transaction/exchanges going on in a state (i will explain this later)
According to CBN the states with the highest cash flow are below in order of priority

CBN Deposit mobilisation
Lagos
Kano
Anambra
Abia

I tend to conclude that more than half of the Economy of the South East is not visible , a case in point is that of Kanu Nwankwo an Igbo ex international who happens to be building a N1.4 B Hotel in lagos which ordinary would have been counted as part of the lagos GDP/Economy but in reality is an Eastern Economy with a branch in Lagos same goes for Dangote's Investments in Lagos and other southern states boosting the GDP of those states but in reality the business could be registered in Kano .just the same way much of the Diaspora wealth repatriation is far above what was reported.

My Advice to SE Governors is to battle to Localize the N100B / Day Auto parts Business in the SE , leverage on that to build a world class auto parts industry rather than leaving the huge industry in lagos and subjecting it to daily harassment and displacements

In as much as i don't want to go into argument whether the below GDP is right or wrong i want to point out a few things about the GDP from sources which i have quoted.

GDP does not take into account the following

Wealth distribution – GDP does not account for variances in incomes of various demographic groups. See income inequality metrics for discussion of a variety of inequality-based economic measures.

Underground economy–Official GDP estimates may not take into account the underground economy, in which transactions contributing to production, such as illegal trade and tax-avoiding activities, are unreported, causing GDP to be underestimated.

Asset Value–GDP does not take into account the value of all assets in an economy. This is akin to ignoring a company's balance sheet, and judging it solely on the basis of its income statement. A good example is the N100 B a day auto parts Business


Non-market transactions
Non-monetary economy
What is being produced
Sustainability of growth

Further Analysis , one can not help but wonder how Osun state that has no real economic bearing will have a higher GDP than Plateau state that boasts one of the largest food processing company in Nigeria (NASCO) and feed mills and a steel rolling plant and tin ore deposit , what industries does Osun have besides tourism which attracts dies hard ifa followers to their river goddess , where as plateau is a thriving tourist destination with the cool temperature all year round and conference location in Kuru.

Other infractions noticeable include the high rating of Oyo state at number 4 after delta state , Oyo state is a 1 city state , this means Oyo state has only 1 city which is ibadan even though other towns like oyo town , Ogbomosho exist .
Ibadan is largely a decrepit unplanned town populated by largely worn out houses inhabited by mostly low income civil servants and farmers, besides the presence of companies like BAT , IITA, procter and Gamble and some Biscuit companies Oyo state has nothing comparable to a state like Akwa Ibom .
For BAT , the anti smoking campaign of the Federal health Agencies has made nonsense of what ever the profit projection the founders did in citing the Business in Ibadan possibly they could gone to a country of smokers like china . where as Procter and gamble has not lived up to competition with other brands from Nivea ..etc while IITA is pure an international research agency.
Ibadan airport records very dismal flight records and the state is not a mineral rich state.
The question is how come the GDP of Oyo was rated higher than the GDP of Akwa Ibom which is one of the fastest growing Economies in Nigeria with Mutli Billion Dollar firms like the Aluminium Smelter Plant , the Osso Condensate, Multi Billion Naira Refinery , a World Class Sea port , A world Class Airport Hangar and a fast growing Economy.

if the definition of GDP is the market value of all officially recognized final goods and services produced within a state in a given period of time
it then means that just the market value of Osso condensate in Akwa Ibom in a month dwarfs all that Oyo state can ever produce in a year, this leaves me wondering about the authenticity of the report below.

1 Lagos State $33,679,258,023
2 Rivers State $21,073,410,422
Total Diaspora $21bn (World Bank Estimate)
3 Delta State $16,749,250,544
4 Oyo State $16,121,670,484
5 Imo State $14,212,637,486
6 Kano State $12,393,103,864
US Diaspora $12,26bn (World Bank Estimate)
7 Edo State $11,888,446,884
8 Akwa Ibom State $11,179,887,963
9 Ogun State $10,470,415,017
10 Kaduna State $10,334,763,785
11 Cross River State $9,292,059,207
12 Abia State $8,687,442,705
13 Ondo State $8,414,302,623
UK Diaspora $7,76bn (World Bank Estimate)
14 Osun State $7,280,597,521
15 Benue State $6,864,209,262
16 Anambra State $6,764,219,562
17 Katsina State $6,022,655,197
18 Niger State $6,002,007,080
19 Borno State $5,175,165,142
20 Plateau State $5,154,059,937
21 Sokoto State $4,818,615,261
22 Bauchi State $4,713,858,180
23 Kogi State $4,642,794,262
24 Adamawa State $4,582,045,246
25 Enugu State $4,396,590,769
26 Bayelsa State $4,337,065,923
27 Zamfara State $4,123,829,498
28 Kwara State $3,841,827,534
29 taraba State $3,397,790,217
30 Kebbi State $3,290,847,166
31 Nassarawa State $3,022,828,885
32 Jigawa State $2,988,014,405
33 Ekiti State $2,848,372,512
34 Ebonyi State $2,732,472,739
35 Gombe State $2,500,467,306
36 Yobe State $2,011,499,000

seunfly: Wooow!!! I am impress by what indian diaspora remitted to their country, infact $70 bn is more than total federal budget.

Great that you are taking this perspective while others are massaging their communal ego.

However

$70bn when divided by Indian population of 1.2bn in India is a ratio of 1:58
contrast this to Nigerias $21b with a population of 160 m, the ratio is 1:131

This begins to show that the ratio of nigerians in diaspora to the country's overall population is more than that of India, (and) or that Nigerians put more back into their economy.

More money leaves d country thru oil companies, corrupt politicians and foreign education

So Enugu is 25th in Nigeria, yet it is the state with the most visible development in the whole of N/E, S/E, S/S, NW,and NC.
What has the other govs been doing with public money?
I heard Akpabio owns a jet.

See where bayelsa go dey........I tire for that state..............I expected bayelsa state to be amongst the first five.......foolishness and the inability to engage in endeavors that would increase the gdp of the state is what is killing the leaders of bayelsa..............even with the oil we are almost the last at the bottom of that list.......

You people are talking in parables.

Visit South East. As soon as you approach the Niger bridge from Asaba, you will be greeted with Hundreds of thousands of Mansions built by Individuals. 5 storey buildings every where. My friends, That is called GDP.
When you go to their villages, Nnewi, Ozubulu, Oguta, Abiriba, Nsukka, Awgu, Ihe, Udi, Abagana, Ukpo, Ekwuluobia, Oko, Nanka, Obosi, Nkpor, Aba, Nekede, Afikpo etc, you see beautiful duplexes, bungalows, and more mansions all over the place. My friend, that is called physical GDP.
Not some numbers generated for a Country that does not even know its actual population.

Bayelsa generates good GDP but my sister at the NYSC camp somewhere in the creeks said more that half of them don't understand broken English let alone queen's English.
GDP kweenu!