Propaganda at its best... Haba, Nigeria, third fastest growing in the world? Fastest growing with less than a $26billion budget with 150+million people.

AjanleKoko:
The report says Nigeria grew at 7.68% last year. From what I see online, e.g. [url = http://www.mapsofworld.com/world-top-ten/world-top-ten-fastest-growing-economies-map.html]here[/url], that doesn't even put us in the Top Ten. But it is still better than that of, say, Germany, a First World Nation, which puts its GDP growth forecast at 1.8%..

Well of course Nigeria will be growing faster than Germany. One is an already fully industrialized, first-world country, the other is effectively preindustrial.

The only high GDP growth rate first world country to my knowledge is Singapore...

Kobojunkie:

Yep, since the second/third quarter of 2009, Nigeria has been recorded quarterly growth rates between 7 and 8 %, attributed mostly to increase in oil production. Many of the other sectors have been experienced the same level of increase in that time though.

Can't you guys read the OP The main said the oil sector has been relatively flat recently, and in fact that it is the non-oil sector which is growing most rapidly.....

We recorded a GDP growth of 7.68 per cent in real terms and this is largely due to growth in the non-oil sector.

“The previous year, 2010, the GDP growth was 8.4 per cent but last year, it dropped to 7.68 per cent because we had a negative growth in the oil sector. So, it means that the non-oil sector is actually resilient and strong enough to carry the economy forward with or without the oil sector.

ekt_bear:

Can't you guys read the OP The main said the oil sector has been relatively flat recently, and in fact that it is the non-oil sector which is growing most rapidly.....

The oil sector has grown tremendously over the past couple of years. The article is just marketing propaganda for the benefit of foreigners.
People are still poor and many getting poorer, yet with 8% leaps in GDP mainly from non-oil, we should be seeing stunning changes at street level. I don't see them.

ekt_bear:

Can't you guys read the OP The main said the oil sector has been relatively flat recently, and in fact that it is the non-oil sector which is growing most rapidly.....

I don't know of that. I know of growth recorded in 2009 in the oil sector given as reason for the average 7% recorded back then and many quarters later. I am in no way trying to vouch for the Nigerian government. Simply stating that I am aware of growth in Oil sector.

Nah. Makes sense that oil isn't growing. Isn't as if production is increasing (and really, there are limits to how much it could anyway due to OPEC), or additional major value is being added down the chain.

If anything, Nigeria is probably producing less oil than its peak (speaking of which what was its peak production? 2.5 mil?)

ekt_bear: Nah. Makes sense that oil isn't growing. Isn't as if production is increasing (and really, there are limits to how much it could anyway due to OPEC), or additional major value is being added down the chain.

If anything, Nigeria is probably producing less oil than its peak (speaking of which what was its peak production? 2.5 mil?)

Check our oil production levels over the past two years. Barrels per day growth for the period can be described as steep.

Nigerians are no longer dumb. Who will beleive this lie. Abegi.

At best replacing decreased production from the militancy days.

So if you compared to the period before 2-3 years ago, little or no growth in production over that time period...

Anyway, the point is that there are fundamental reasons why the oil sector cannot be the engine of growth of the economy. Some of which I've already stated, but others which are also kind of obvious

Off topic.

What has come upon beaf of recent. His posts of recent are strange. Has he been sacked?

Demdem: Off topic.

What has come upon beaf of recent. His posts of recent are strange. Has he been sacked?

I suspect the same thing.

Demdem: Off topic.

What has come upon beaf of recent. His posts of recent are strange. Has he been sacked?

His NL account has been hacked

AjanleKoko: Everybody is just raking here, cos they feel the growth never touch them.
Growth doesn't stop you guys from being poor, guys. It does present an opportunity for you all to make it out of poverty.

Oga i wonder the type of growth that you mean.

What is the statistics of people that got employed this year alone?
What is the statistics of people that lose their job this year alone?

If the country is growing by crawling then i see no reason why people that are employed became unemployed and yet still no new employee in the same position.
the few staff that left were made to over work and if you dare not then resign your job voluntarily or they will show you the way out.

What kind of opportunity ,i mean opportunity can use as example to back up your claim pls?

are you going to tell me that the sons and daughters of a director that got a job is the opportunity we are talking about.

Awon ara ilu yi sha.all of u na funny die like ya Jonathan.

Building castle in the air,while hoping for better days.


THE OPPORTUNITIES TO GET OUT OF POVERTY

No Light......... Do you know how many millions need the light,so that they can get out of poverty,if only there could be light they know what to do to get out of poverty.

No good roads...... Do you know if there were good road thousand won"t be living in poverty,if you need example i can lecture you on that also.

c No Security of life and properties and No Insurance insurance of life and properties ...... are these not meant to be part of growth.

I can go on and on on but let me stop here for now...........make you no de lie to our face again aja ton le koko

OUR GOVERNMENT JUST DEY LOOK LEFT AND RIGHT

The Nigeria and Ghana are among the top five. We need to continue this path. First we have to link west Africa together by building a high speed train and trade more with earth other.


http://www.howwemadeitinafrica.com/ghana-and-nigeria-among-worlds-fastest-growing-economies-in-20122013/16062/

Demdem: Off topic.

What has come upon beaf of recent. His posts of recent are strange. Has he been sacked?

You think everybody is a dummy like you, a political zombie that doesn't quack outside dogma? A soul sold for the price of akara.
I can tell the truth about poverty in the streets and still say, GEJ forever. Cos, these are the things I believe.

Beaf: If a countries economy is the 3rd fastest growing, but the masses do not feel it, then such growth is largely worthless.
We need to diversify our economy as a matter of strict urgency. Nuff said.

Film trick!

Bigo8291: The Nigeria and Ghana are among the top five. We need to continue this path. First we have to link west Africa together by building a high speed train and trade more with earth other.


http://www.howwemadeitinafrica.com/ghana-and-nigeria-among-worlds-fastest-growing-economies-in-20122013/16062/

You make sense more than others but come to think of it.............Kenya is building Highway that link them to Ethiopia and direct to Sudan.

You smaller countries have started while we are still sleeping publishing lies in the paper.

I don't believe this,the situation in our country will decide weather our economy is the 3rd in the world.it is a joke.

Beaf: If a countries economy is the 3rd fastest growing, but the masses do not feel it, then such growth is largely worthless.
We need to diversify our economy as a matter of strict urgency. Nuff said.

What is "a countries?"

You're better than this, Mr. Beaf - I'm utterly disappointed in you.

For a MINISTER of the FEDERAL REPUBLIC to publicly make such assertion about Nigeria being the 3rd fastest growing economy means he has got some facts and figures to back up his claims. That is undisputable. Like I rightly pointed out in my earlier post, Eco Growth and Eco Development are two different things. While the former measures the quantitative progress of a country e.g GNP/GDP which does not necessarily represent the true nature of the people's living condition, the latter addresses the qualitative progress of a country which is assessed through the parameters of Human Development Index, Human Happiness Index, Life Expectancy Ratio, Income Distribution Index, Educational Status etc. The major emphasis should be placed on the effective utilization of the opportunities presented by this Eco Growth to foster Eco Dev. The minister shld knw dat we hav out-grown d era of clappn weneva they present us wit some eco figures which show a +growth on one hand while rep a mirage of d true situatn on d other hand.

shymmex:

What is "a countries?"

You're better than this, Mr. Beaf - I'm utterly disappointed in you.

Phuck off, sir.

God will not allow to read this kind of rubbish. when soludo was the governor of central bank, we were told that our banks were stronger than the strongest banks of this world but afterwards, what happened. anyone that believes this crap will believe anything.
in economics, we were tot of certain conditions necessary for economic growth which include electricity, security,etc. apart from the large market we have in nigeria, what other condition is conducive for economic growth in nigeria? we watch the few multi-national companies in nigeria relocate to ghana and we are here decieving ourselves on the pages of newspapers.
selling fuel N200 does not mean economic.
the only growth i see here in nigeria under this pdp led govt is criminality growth where practically every politician has one case of fraud or the other. where senators who went to probe criminals became criminals themselves. where indicted men and women get promoted.
she to the one who wrote that rubbish.
let them tell us that corruption has over grown and we will read that.

Beaf:

The oil sector has grown tremendously over the past couple of years. The article is just marketing propaganda for the benefit of foreigners.

The bolded is not accurate. Economic growth remains strong in Nigeria, because non-oil real gross domestic product (GDP) estimated to have grown at 8.3-8.6 percent in 2011, while we've had negative growth in the oil sector.

Here's a link to an article which you may find quite informative. The article contains some selected Economic and Financial Indicators covering 2007–12.

First of all, this is not an actually fact but the author's own interpretation of things therefore the FG attack una are giving isn't needed. I do not think they have a hand in the figure provided.
Second of all, did the author factor in HDI or GDP PP before making his or her assumption. This are the two figures that matters when it comes to a country's development, notice how most of the Nigerians living in Nigeria aren't accepting his and or her assumption, that is because the figures that affect them weren't factored in I'm guessing. No doubt, Nigeria have a high GDP nominal and growing daily, i'll be surprised if it isn't, but using that alone to deceive Nigerians into thinking their country is among the top growing is rather deceitful.

Anyway, its nice seeing that Nigerians aren't as gullible as I thought una are.

....

Very possible without Our corrupt and slowpoke of leaders we have!

I really think the report meant 3rd fastest growing economy and not 3rd best economy in the world. So i really dont want you to worry about this report, just focus on how to get your daily bread without killing or stealing. Please let position be read by those who know how to read it and focus on how to be self employed, live healthy and be contented by what you have till it get to the point of surplus and then you can read.

Thanks...

Mellaw

AjanleKoko:

Bros, read very well between the lines. Let's try to understand the real world paradigm: Are the developed countries really doing well? Most of them are mired in debt, have exported most of their manufacturing capacity, and face growing unemployment. They have done very well in the past, but today, the only countries that are manufacturing anything are all in Asia.

Nigeria on the contrary is subject to a lot of misinterpretation. Yes, there is tons of corruption and capital flight. However, that has not really stopped the economy from growing. A lot of people say we don't manufacture anything. . . but how true is that? Apart from fuel (which is subsidized till now) and luxury goods, what else does the average Nigerian consume that is not manufactured locally? Even food. Lots of talk about rice importation, but truth be told, how many nations do not import rice? Transportation also. Your car is definitely imported, but the Molue buses are locally-assembled. Have you considered that?

Even the non-performing government. In their nonperformance, they still build new roads (substandard), open new schools (also substandard), start new economic activities, every year. Even if they budget 2 trillion and spend only 1 trillion, mostly on OPEX, they still stimulate the economy by their activities. Even the act of sharing Ghana-must-go, the money filters into the economy, is traded for goods and services, and ends up in people's pockets. Of course, it's not the most ideal type of growth. But it is growth nonetheless.

what exactly do we manufacture? All you see is made in china goods being hawked everywhere. Nigeria is just a huge dumping ground for Chinese goods. Locally assembled Molue buses? seriously? Lagos sate govt is trying to ban these "coffins" on four wheels

Money shared by corrupt politicians never filters down; it only leads to inefficient distribution of wealth. Corruption make goods more expensive. Why do you think cost of living in Abuja is high relative to other cities. Secondly, the politicians have not earned this money and are more likely spend it on frivolous things. Some of those unoccupied houses in Lekki are owned by Ghana-must-go politicians.

GDP may be rising but overall we are a poor country. Nigeria is stuck at the bottom of the Human Development Index despite the GDP growth. Meaningless stats that have no impact on everyday living in Nigeria is not what we want to hear.

When will nigerians stop deceiving themselves. We don't need anybody to tell us rubbish

maku labaram is actually a mad man. if nigeria increases oil production he calls it economic growth this is crazy.

yesterday a global flashy car statistics shows that china now uses more flashy cars than USA. ten yrs ago who will believe that. that is economic growth.

today in europe more than 60 % of goods in the shelves is from asia. tell labaram to go to china, south korea, singapore, Brasil, etc and see what is economic growth. see the improvement in the lives of people and the environment.

lets forget about percentage here, percentage is a relative accesement. 1% growth of japan's economy is more than 20% percent growth of nigeria economy.

with this kind of wicked deceptive leaders, this country has no future.

oh well. . my two year old is the fastest growing person in the house. . .

oyb: oh well. . my two year old is the fastest growing person in the house. . .

Was drinking a coke when I read this, nearly choked