That is good effort from their own part, contributing their quota to the fatherland, just like oliver twist, we need more

So lagos is the oga at the top..well dats all

kettykings: 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

How did you pass your exams.

When did Oyo state became one city.

Do you even know the meaning of GDP.

What is this one saying again can u pls go and publish the rubbish u typed here so u mean a whole world bank figures is wrong u must be high on taba[quote author=kettykings]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

ayswags: What is this one saying again can u pls go and publish the rubbish u typed here so u mean a whole world bank figures is wrong u must be high on taba

Please Can you kindly provide a link or an evidence that show this GDP figures are from the World Bank or or even any other world Economic /financial institution , I am eagerly waiting for your polite response

kettykings: 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

So many unsubstantiated claims.You fall into the category of those who knoweth not,knoweth not that they knoweth not but thinketh that they know it all. In short a raucous empty vessel

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

Don't mind the dubious World Bank 419.World Bank was established for a purpose, which doesn't include helping Africa.

emmatok:


How did you pass your exams.

When did Oyo state became one city.

Do you even know the meaning of GDP.

When did Oyo state became one city
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

Do you even know the meaning of GDP
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

How did you pass your exams
you must have been a product of the Awolowo's free Education scheme (AKA Education for all by the year 2000)Stick to the topic


If you had read what i posted very well you would have seen that my answer to you were based on the original post

omonnakoda:

So many unsubstantiated claims.You fall into the category of those who knoweth not,knoweth not that they knoweth not but thinketh that they know it all. In short a raucous empty vessel

Can you politely state the unsubstantiated claim and i will gladly and politely assist you substantiate them

kettykings: 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 [/b]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.

[b]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

So many unsubstantiated claims.You fall into the category of those who knoweth not,knoweth not that they knoweth not but thinketh that they know it all. In short a raucous empty vessel

according to you Kanu Nwankwo is building a 1.4 billion naira hotel in Lagos and this is "South Eastern" economy. Firstly another unsubstantiated claim.but for argument sake let us accept it.According to Your logic Coca Cola in Lagos is American Economy, Mikel Obi at Chelsea is Ibo Economy etc. You really should be representing Nigeria at the Olympics for STUP!D PEOPLE

All these posts hidden suggests τђΞ bigots are having α field day

kettykings:

When did Oyo state became one city
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

Do you even know the meaning of GDP
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

How did you pass your exams
you must have been a product of the Awolowo's free Education scheme (AKA Education for all by the year 2000)Stick to the topic


If you had read what i posted very well you would have seen that my answer to you were based on the original post

You continue with your failure.

Oyo is a city,Ibadan is another city apart from other cities in Oyo State.

So why are you claiming Oyo is a city state.

Am happy you are on the internet, kindly read-up the meaning of GDP.

Igbos who enjoyed Awo free education are better.

omonnakoda:

So many unsubstantiated claims.You fall into the category of those who knoweth not,knoweth not that they knoweth not but thinketh that they know it all. In short a raucous empty vessel

according to you Kanu Nwankwo is building a 1.4 billion naira hotel in Lagos and this is "South Eastern" economy. Firstly another unsubstantiated claim.but for argument sake let us accept it.According to Your logic Coca Cola in Lagos is American Economy, Mikel Obi at Chelsea is Ibo Economy etc. You really should be representing Nigeria at the Olympics for STUP!D PEOPLE

Multichoice is a Zulu economy

Ladipo's 100 billion is an Nnewi economy

Sure these people will be calling Ngozi to confirm if the report is from World Bank.

Βουκέφαλος:

Nigeria’s States by GDP

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

only one igbo state made it to the top 10..am laughing in swahili

goldfish80: All these posts hidden suggests τђΞ bigots are having α field day

Bigots have human rights to be heard,
just as the dictators of nairaland have no right to choose for everyone else.

kettykings:

[b]When did Oyo state became one city[/b]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

[b]Do you even know the meaning of GDP[/b]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

[b]How did you pass your exams[/b]you must have been a product of the Awolowo's free Education scheme (AKA Education for all by the year 2000)Stick to the topic

Well, one can argue that ibadan is a combination several cities?
Let me help you with some reasons why oyo place highly:
1. Oyo (ibadan) has some of biggest market points for agricultural goods in Nigeria. Agricultural goods going up north or coming down south always meet at ibadan. I.e oyo state is an important transit state.
2. Oyo is a border state hence goods flow into the country through its borders and that generates income for the state.
3. Proximity with lagos the country's commercial center.
4. Third largest population in the country (at least you'll agree to this rating don't you?), this made it a destination of several goods and services.
5. Large mineral resources evident by the number of quarries in the state ( you'll notice some of them along lagos-ibadan express)
6. A good number of industries are located in the state.
7. The most important source of income in oyo state I'll say is the level of agribusiness in the state, there are several farms in the state, as it is in Ogun state too.

P.s Ogbomosho isn't as big as Ibadan doesn't make it any lesser than a city or how do you define city?

emmatok: Sure these people will be calling Ngozi to confirm if the report is from World Bank.

Ngozi is busy making sure that Nigeria's economy can become quantifiable and measurable, from the era of out-of-pocket expenditure patterns, by which hundreds of billions of dollars were spent without anything to show, except unsustainable consuption.

dayokanu: Oyo $16,121,670,484 Imo 14,212,637,486
Ogun $10,470,415,017 Abia $8,687,442,705
Ondo $8,414,302,623 Anambra $6,764,219,562
Osun $7,280,597,521 Enugu $4,396,590,769
Ekiti $2,848,372,512 Ebonyi $2,848,372,512

$45,135,358,157 $36,909,263,034

you disgust me, ignorant troll. What do you stand to acheive by justaposing SE GDP againt that of the SW? Now let me tell you that I am very much impressed by the performance of SE states, yes, despite lack of federal presence in the SE and Igbos investing heavily in other states of the federation, they still performed well.

kettykings: 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

Not that it matters to sane folks but I would take the data on bank branches over any other so called GDP statistics in Nigeria, ANY DAY.
How can anyone even obtain GDP statistics without economic activities, which is CLOSELY tracked by bank presence (branches)? Tomorrow they will tell us that there is more economic activity in the dessert or the swamps with scant bank presence than on dry hard land teeming with markets and businesses.
Having said that, what I concern myself with more is HOW MUCH OF THAT IS MY MONEY.
Nigeria cannot even conduct ONE credible census. lol

I don't even know how you guys managed to make this thread an ethnic battleground. Ridiculous.

Anyway @ the OP (Bucephalus), I thought that remittances from the diaspora were only counted in calculating a country's GNP, but not included in its GDP. I don't see how remittances can be relevant to calculating GDP. I think the statistics that you're interpreting are really saying that the monetary value of the remittances is equivalent to a certain percentage of Nigeria's GDP, not that the remittances actually factor in the GDP calculations, which should, by definition, exclude remittances.

PapaBrowne: The amount of capital that lies in the hands of Nigerians outside the country can go a long way to reverse the trend of underemployment in this country.

I have been thinking of setting up a fund someday that would seek to pool diaspora capital for the purpose of funding huge projects with particular focus on building plug n play, ready to occupy industrial parks.


Many huge opportunities emanate from this information.

Real Estate development for Nigerians in Diaspora.
Investment Management for Nigerians in Diaspora.
$21 billion dollars no be small money!

I agree with you. This information is an eye opener. Of course they should be involved in voting.

Mehnnn, c d no of hidden posts abeg, dat means d bigots are havin field day, bt thanks to d MOD for hidin dem.
Chaiiii, c d position of Kwara, WTF. Even Plateau is higher dan Kwara, wat is Abdulfatah doin there pls?

Biafra rep: you disgust me, ignorant troll. What do you stand to acheive by justaposing SE GDP againt that of the SW? Now let me tell you that I am very much impressed by the performance of SE states, yes, despite lack of federal presence in the SE and Igbos investing heavily in other states of the federation, they still performed well.

The guy lives in Nairaland. Has ZERO life outside of here.
He is either Seun's other moniker (if you go back in time, you will see that Seun was posting EXACTLY like that animal); or he is the biggest fool to ever experience a web forum. He has posted more comments than all of us combined. Dude is as dense as they come.

Biafra rep: you disgust me, ignorant troll. What do you stand to acheive by justaposing SE GDP againt that of the SW? Now let me tell you that I am very much impressed by the performance of SE states, yes, despite lack of federal presence in the SE and Igbos investing heavily in other states of the federation, they still performed well.

Did you read the thread from the beginning?

[quote author=ayox2003]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. PLS PUT D BLAME TO THE NORTHERN LEADERS.....THEY RUN THIS COUNTRY FOR MORE THAN 4DECADES... LOOTED EVERYTHING THIS COUNTRY GOT...... TURN THE NATION INTO A TERRORIST ZONE.... THINK VERY WELL BEFORE BLAMING D KAI-KAI MAN FROM D CREEK

Also, the title of the thread is somewhat misleading, although I'm sure it wasn't intentional. Upon reading it, one might think for a second that "Diasporans contribute more (through remittances) in a year to the entire country financially than 34 states put together do in a year", which is not really what the article is stating at all. Anyway, the article explains what is really meant so it's no big deal.

Pls hide my post too. I'll like to join the majority!