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Nairaland Forum / Nairaland / General / Business / South Africa Ranked As Africa’s Biggest On Rand (16646 Views)
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Re: South Africa Ranked As Africa’s Biggest On Rand by Burruchaga71(m): 5:03pm On Aug 11, 2016 |
Shame to Nigeria |
Re: South Africa Ranked As Africa’s Biggest On Rand by OohLalah(f): 6:14pm On Aug 11, 2016 |
tsdarkside: Are you well? Did you even read the article? We didn't do a rebase it is an evaluation done by the IMF thus the report is not coming from South Africa. So how are we lying to ourselves? Hell-hole? Now that's funny. By the way, why do Nigerians get their panties in a knot everytime GDP is mentioned? We don't care about GDP unless it translate to service delivery at the grassroots, lowers unemployment, free tertiary education, further infrastructural development and puts more money in our pockets. In any other way, please take the biggest GDP in Africa title, WDGAD! As you have it right now it only serves you as bragging rights, nothing else. |
Re: South Africa Ranked As Africa’s Biggest On Rand by bikefab(m): 9:05pm On Aug 11, 2016 |
All thanks to Mr Bubu. |
Re: South Africa Ranked As Africa’s Biggest On Rand by uzolexis(f): 6:21am On Aug 12, 2016 |
RoyalPriesthuud: GDP(GROSS DOMESTIC PRODUCT) FOR NIGERIA – 2010 Sorry but you are the dullard here. @the bolded, Oil is not the major contribution to our GDP, in fact as at last year,oil only contributed bout 15% to our GDP, Agriculture has been the major contribution to our GDP and it's contribution was growing drastically especially when we had Akinwumi Adesina as our minister of Agriculture. Oil is the major source of our foreign revenue and because it is not the major contribution to our GDP, it would make sense to put more efforts to boost other sectors that contribute to our GDP so they can also get us foreign exchange to by upgrading them to international standard so they can be exported, so you guys should stop this oil excuse, i'm not saying that the reduction in oil price won't have a negative effect on our economy but it would not have been this bad if Buhari had good economic policies and plans, he had 12 years to prepare for Christ sake, how do you have 12 years to prepare for a job and when you eventually get that job you don't know what to do, took 7 months to pick his team and left the country on auto-pilot, choose to peg the naira even though everyone advised him against that and that policy chased a lot of investors leading to people loosing jobs in the process, investing millions of naira to look for oil in the chad basin, does all these make sense to you? Even up till now, there is no clear economic plan that Nigerians can see and say ok,this suffering is only temporary and it will pass cos this govt. has a good economic plan, nothing like that and people are hopeless, he only just appointed his economic adviser....pls be objective in your critism and call a spade a spade. |
Re: South Africa Ranked As Africa’s Biggest On Rand by uzolexis(f): 6:40am On Aug 12, 2016 |
whitebrown: God bless you dear, I said it during the election campaign and I will keep saying it APC=PDP, they are the same thing, we don't need any of them, they cant give us the change we want, we need fresh minds. |
Re: South Africa Ranked As Africa’s Biggest On Rand by AmenhotepZuid: 8:46am On Aug 12, 2016 |
Blaming Buhari isn't gonna help nigerians. The truth is Buhari has exposed the LIE that you have been living for 2 years. Fake 418ed Gdp by Ngozi and Kale. The truth is coming to bite you now. We have been telling you this since 2014. [b]South Arica regained its 2nd spot in July after Egypt devalued their currency. Even Egypt is doing the very same ting that Nigeria is doing, capping their Egyptian pound, its 8.88 to the dollar in the official market while in the black market is 12.25 pound. Currently they are going around shutting all the black market traders in a bid to have a pegged pound to be effective. You cannot manufacture the rate of your currency, once you do that, no potential investor will ever set foot in your country. Now Egypt wants help from IMF, and IMF has given them conditions to give them that Loan, one of it is to devalue their currency once again to reflect reality on the ground. What I am trying to show you is that in reality, Egyptian and Nigerian economies are very small compare to the South African one. Example, lets take Nigeria total GDP of N94trillion and divide it by the black market rate which is currently at N405 to the dollar, N94000/405= $232BN, and take Egyptian pound 2400/12.25 = $196BN and the South African one R4000/13.28 = $301BN. You see South Africa is the largest economy in Africa by far in reality. But if you consider the partially floated Nigerian naira at 94000/320 = $294BN, smaller than that of SA and the Egyptian one will be 2400/8.88 = $270BN. Therefor: 1. South Africa = $301BN 2. Nigeria = $294BN on official rate and $232BN for black market rate 3. Egypt = $270BN on official rate and $196BN for black market calculated rate Hopefully it makes sense, but its a simple maths[/b] |
Re: South Africa Ranked As Africa’s Biggest On Rand by AmenhotepZuid: 8:46am On Aug 12, 2016 |
By December Egypt will be the 2nd biggest economy in Africa and nigeria will be at 3rd position... Your 419ed economy is falling like DOMINOS. You 419ed each other in 2014. |
Re: South Africa Ranked As Africa’s Biggest On Rand by MPSA(m): 12:58pm On Aug 12, 2016 |
AmenhotepZuid: ,@419 1 Like 1 Share |
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