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IMF Affirms Nigeria As Africa’s Biggest Economy!!! - Business (3) - Nairaland

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Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Nobody: 9:28am On Oct 19, 2016
MMMMMM

1 Like

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by seenter84: 9:28am On Oct 19, 2016
Yeah nigeria feeds d world right now with this dollar sham price.


obailala:
[size=15pt]IMF Affirms Nigeria as Africa’s Biggest Economy[/size]


http://www.thisdaylive.com/index.php/2016/10/19/imf-affirms-nigeria-as-africas-biggest-economy/

Even in our comatose state, we still stand taller, one can only imagine what the case would be when we recover on our feet.

[size=4pt]Attn: Lalasticlala, seun, mynd44[/size]

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by millionaireman: 9:29am On Oct 19, 2016
HAH:


USA and China are suppose to be continents not countries, there are state in both countries that are more than Nigeria, my respect goes to Japan, despite it small size it is the third largest economy, largely due to utilization of human resources

In Japan, government doesn't collect revenues from all over the country and share the revenues to Japanese regions.
In Nigeria, Buhari north insists the country must continue to collect revenues from all over the country and then share to the states.

Nigeria stagnate because of absence of competition and citizens indolent spirit.

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by frugal(m): 9:29am On Oct 19, 2016
kingphilip:


But this also goes to show that we are still better than other than other Africa countries even the ones that people are clamoring to go to

How are you better than South Africa? Tell me, I'd like to learn.

3 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Goke7: 9:32am On Oct 19, 2016
989900D:


Well said, if we ever lived true to the world's expectation of us, we should be at the minimum, a trillion dollar economy -- and I mean worst case scenario.

Like some commenter pointed out: Lagos pulling Nigeria's weight at the moment.

And with recent developments between Lagos and Ogun states, the GDP combined of both states could well be comfortably challenging for 2nd or 3rd largest economy in Africa in some few years to come.

very true, especially if Ogun can step up its infrastructure like Lagos is doing. We are supposed to be seeing a rail construction going on now to link Lagos, Ogun and Ibadan. That will leave the rest of Nigeria behind by over 50 years.

2 Likes 1 Share

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by ttmacoy: 9:33am On Oct 19, 2016
I don't see any vindication here if you understand what has been reported.

IMF was calculating based on Dec 2015 rates and GDP which was before the recession kicked in and excludes the fall of the naira against the dollar through 2016.


veekid:
IMF don vindicate Buhari

grin grin grin for this Recession?

Yeye
Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by wristbangle: 9:36am On Oct 19, 2016
989900D:


Well said, if we ever lived true to the world's expectation of us, we should be at the minimum, a trillion dollar economy -- and I mean worst case scenario.

Like some commenter pointed out: Lagos pulling Nigeria's weight at the moment.

And with recent developments between Lagos and Ogun states, the GDP combined of both states could well be comfortably challenging for 2nd or 3rd largest economy in Africa in some few years to come.

Honestly speaking, those comments pointing lagos booming economy to keeping Nigeria afloat is nothing but the truth. Technology wise, what lagos is generating is huge (it's even synonymous to California in USA, the largest single state economy in USA and the entire world generating 600 billion dollars GDP). Look at the likes of Glo 1 and main one fibre as e.g contributing immensely to the country hereby supplying internet services to other western countries which is helping the country GDP. Manufacturing, FMCG, blue chips companies etc in Lagos/Ogun and perhaps Anambra, PHC, Ibadan and Kano are sparkling wave hence saving us from oil doom.

Like you said, we suppose to be on 1trillion dollars GDP and permit to mention that our foreign reserve suppose to be at 200billion naira minimum but the stench of past corrupt administration has wrecked the country.

4 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by fakati(m): 9:37am On Oct 19, 2016
[quote author=Aufbauh post=50326053]IMF has murdered some persons sleep cheesy
The Nigerian "Pharisees and Sadducees" should better hide their faces in shame and agony because Nigeria will grow stronger inspite of their beliefs or dispositions.

I repeat that those who are waiting for Buhari to fails will eat their own words like Olisa Metuh chewed his own statement[o yes my brother this not a good news to the wailers]

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by ISTANDWITHBUHAR: 9:38am On Oct 19, 2016
Some wailers go need this..

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by davibid: 9:39am On Oct 19, 2016
Yaff lie again

And ayam tired of reading fake newz that ayam not understanding

Because if this is true Nigerians supposed to b enyoin bet d reverse is the case

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Ngozi123(f): 9:41am On Oct 19, 2016
RentALodge:
Bragging rights over S.A

That's literally the only positive I see here. Nigeria has been Africa's biggest economy for many years now but how exactly has that transcended to the average Nigerian? I'm surprised that there are people celebrating this news, it just goes to show how myopic some Nigerians are.

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Shym3xx: 9:44am On Oct 19, 2016
ttmacoy:
I don't see any vindication here if you understand what has been reported.

IMF was calculating based on Dec 2015 rates and GDP which was before the recession kicked in and excludes the fall of the naira against the dollar through 2016.

In as much as it doesn't vindicates anyone - currency value has no bearing on GDP. GDP is only affected by the growth/shrinkage of the economy. However, the most important thing is the GDP per capita which puts Nigeria as one of the poorest countries in Africa. Somewhere around where Somalia is.

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Earth2Metahuman: 9:46am On Oct 19, 2016
Mynd44:
Let the belly aching begin
cheesy serious belly purgin
Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by afanide: 9:47am On Oct 19, 2016
IMF just got bribed.....

1 Like

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Alwaystruth: 9:51am On Oct 19, 2016
Truly you guys are irredeemable and mindless zombies.
How much did your idiotic president met Nigeria's GDP?.
See below for details.


GDP: nominal – $568.5 billion (2015 est.)

GDP – real growth rate: 7% (July 2012 est.)

GDP – per capita: purchasing power parity – $5,600 (2013 est.)

GDP – composition by sector:
agriculture: 30.9%
industry: 43%
services: 26% (2012 est.)

Population below poverty line: 33.1%(2013 est.)

Household income or consumption by percentage share:r
lowest 10%: 2.6%
highest 10%: 35.8% (1996–97)

Inflation rate (consumer prices): 11.4% (2016)[23]

Labor force: 57.21 million

Labor force – by occupation: agriculture 70%, industry 10%, services 20% (1999 est.)

Unemployment rate: 24% NA (2010 est.)

Budget:
revenues: $17 billion
expenditures: $13.54 billion including capital expenditures of $NA (2005 est.)

Industries: crude oil, coal, tin, columbite, palm oil, peanuts, cotton, rubber, wood, hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel, small commercial ship construction and repair

Industrial production growth rate: 4.7% (2010 est.)

Electricity – production: 18.89 billion kWh (2009)

Electricity – production by source:
fossil fuel: 61.69%
hydro: 38.31%
nuclear: 0%

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Earth2Metahuman: 9:53am On Oct 19, 2016
biggy26:
Some of u guys are funny. Why are u happy? When our economy was rebased under d last administration, some of u said we were broke and that it was just on paper, blah, blah...what has changed now? Nothing!! Are u living better now? No!

Nigerian youths are d problem of this country. Kill ignorance before it kills u o....zombies u dey hear?
when Nigeria economy dips this year, people blame the current government... Now that it has regained its spot, shouldn't we also blame the current governments..

Bein the biggest has always been on paper, people don't take it seriously until PDP fanboys made it campaign strategy for the clueless ineffectual buffoon.

1 Like

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Chstel(m): 9:55am On Oct 19, 2016
majority of the comments here are not encouraging. why throwing hate speeches and complaining? why can't we just be positive in ourselves? let us use the social media to promote oneness in our lives and in the country.

#better days ahead.

1 Like

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by 989900D: 9:55am On Oct 19, 2016
Ngozi123:


That's literally the only positive I see here. Nigeria has been Africa's biggest economy for many years now but how exactly has that transcended to the average Nigerian? I'm surprised that there are people celebrating this news, it just goes to show how myopic some Nigerians are.

America is the biggest economy in the world, with GDP per capita at over $50K, and there are destitute . . . even in the gulf where some countries have GDP per capita in excess of $70k, they have poor people. While we could do better, and this is far, far, short of where we need to be as a country, calling others myopic 'cause they feel happy about this little positive ain't cool.

Would you rather a GDP of $200b divided by 170 million people, or $400b divided by 170 million people?
Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Jesusloveyou: 9:56am On Oct 19, 2016
Emeskhalifa:
for present abi for past undecided
for last year, and by the time we get to next year, we will be 18th in the world, and before 2020 we will be 10th. Pmb is doing great.

1 Like

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Nobody: 9:57am On Oct 19, 2016
Asin how?

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by mengho(m): 9:59am On Oct 19, 2016
We shall soon be dwelling with the biggest economies in d world by the grace of God. it's Nigeria destiny as the largest congregation of black people in d world
Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by thunderbabs: 10:03am On Oct 19, 2016
BIG for nothing

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Shym3xx: 10:06am On Oct 19, 2016
Earth2Metahuman:
when Nigeria economy dips this year, people blame the current government... Now that it has regained its spot, shouldn't we also blame the current governments..

Bein the biggest has always been on paper, people don't take it seriously until PDP fanboys made it campaign strategy for the clueless ineffectual buffoon.

Lol, it never lost its "spot" as a poor man with gazillion of children who thinks he's richer than a modest man with one kid cos he has a bit of extra money than the modest man. BBC just calculated the figures based on exchange rate when the naira dipped. And that's a flawed way of doing it since currency value and exchange rates have no bearing whatsoever on GDP.

GDP of Nigeria in 2014 = $510 billion

GDP of Nigeria at the end of 2015 = $415 billion

GDP of Nigeria in 2016 = $493 billion

So, what changed since South Africa and Egypt have never broken the $400 billion mark? The most important thing is GDP per capita, which is the proper index used in measuring wealth. And both South Africa and Egypt are far richer than Nigeria. Nigeria isn't top-15 richest countries in Africa based on that index. grin

3 Likes 1 Share

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by shabakm: 10:07am On Oct 19, 2016
may God help us amean
Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Akalia(m): 10:07am On Oct 19, 2016
Dollyak:

Yep. I've often wondered at this myself. Why are people offended by the reaction but not the action that caused that reaction? No matter the issue, whether it be poverty, corruption, racism, sexism etc etc; people feel insulted by the reaction. Never the original action that prompted the reaction.

I suppose people feel personally indited, as if they're personally being held to blame. Yet this is so destructive because now instead of discussing a very real, very big issue; we're stuck discussing your feelings and how best to appease them. In the end, not only is that issue still there but in fact, it's probably grown. But no matter, as long as one's feelings are mollified, right?

You need to get over yourself fool. Sacrifice your feelings for the material good of the collective.

you need to take a chill pill
Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Shym3xx: 10:09am On Oct 19, 2016
GDP per capita of South Africa = $10,700

GDP per capita of Egypt = $6,200

GDP per capita of Nigeria = $2,500

The difference is clear. grin

6 Likes 2 Shares

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Jesusloveyou: 10:12am On Oct 19, 2016
Ngozi123:


That's literally the only positive I see here. Nigeria has been Africa's biggest economy for many years now but how exactly has that transcended to the average Nigerian? I'm surprised that there are people celebrating this news, it just goes to show how myopic some Nigerians are.
were you not among the iPods that insulted pmb for this same issues? Hypocrites

2 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by nejifresh(m): 10:23am On Oct 19, 2016
Its very clear now that many people on nairaland are half stvpid or half literate.

The GDP figures are from 2015. They are essentially a recalculation of that re-basement which most of you doubted. Now you are celebrating.
Fools.

3 Likes

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Uchenduin: 10:23am On Oct 19, 2016
Apc propaganda

1 Like

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by obinnashady(m): 10:35am On Oct 19, 2016
Mynd44:
Let the belly aching begin
Oga go and sit down joor

1 Like

Re: IMF Affirms Nigeria As Africa’s Biggest Economy!!! by Fidelismaria: 10:43am On Oct 19, 2016
shocked shocked shocked shocked shocked shocked shocked shocked


usa economy day fear me ooooo

dollyak pls break ur grammar down

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