adconline:

Quite disingenuous to suggest that PDP " hoodwinked" us with a GDP figure when in fact GPD per capita was rebased as well.

Quit tactical of you to ignore the fact that APC is using those numbers to highlight our debt-GDP ratio when in talks with intl financial institutions for funding.

So hypocritical that those the same numbers are being bandied about by govt officials when asking foreign investors to come in.

As for "a high GDP not being a sufficient " criterion" (educated folks know when and how to use criteria) measuring development"
A couple of countries stick out when Africa is taken into consideration. Gabon has averaged GDP per capita of $18,200 between 1990 and 2015, but it has developmental challenges like the rest of Africa.

Equatorial Guinea has a GDP per capita of above $16,000 but has a poverty rate of over 60%.

Also, this is the way world economies are ranked. US is the largest economy with over 300m people while China is second with over 1bn, does that mean that the US has the highest GDP per capita? No. Does that mean that China has a GDP per capita close to the US or EU? Get out of your self-imposed ignorance!! So what's your explanation?

My point is, Nigerians are poorer today than they were in 2014 when the GDP was rebased!!

You celebrate mediocrity, marketing the immaterial highest GDP in Africa like things were ever close to being well with Nigerians. You are just a mischievous folk, it seems like you have poor sights too; because I outlined in my previous response that the level of the GDP per capita is a more important index for measuring well-being than the GDP as a whole, even though its not the ultimate. I mentioned that GDP per capita is not sufficient because of the possibility of an uneven distribution of wealth, using the Dangotes and the Otedolas as example in the Nigerian case, an economic growth in Nigeria may simply mean that Dangote and his few likes, have made more money. So that answers your blabbing about Gabon, Nigeria, Equatorial Guinea and a host of other cases.
You keep talking about the present government carrying your fake PDP data about like it makes a difference. More over dont you think foreign investors do a rigorous search? Oh you think they just sink the million$ using your manipulated data?
Your loud silence on my correction of your voodoo interpretation of the way inflation affects salary earners and business owners is deafening.
My point in all of these is that there was and is no basis for celebration at anytime on the performance of the Nigerian economy. The politicians (PDP and APC) have been the beneficiary of growth all this while.

1freshdude:


You celebrate mediocrity, marketing the immaterial highest GDP in Africa like things were ever close to being well with Nigerians. You are just a mischievous folk, it seems like you have poor sights too; because I outlined in my previous response that the level of the GDP per capita is a more important index for measuring well-being than the GDP as a whole, I also stated that GDP per capita is not sufficient because of the possibility of an uneven distribution of wealth, using the Dangotes and the Otedolas as example in the Nigerian case, an economic growth in Nigeria simply means that Dangote and his few likes have made more money. So that answers your blabbing about Gabon, Nigeria, Equatorial Guinea and a host of other cases.
You keep talking about the present government carrying your fake PDP data about like any foreign investor depends on your manipulated data when taking decisions..data like that is to deceive the ignorant.
Your loud silence on my correction of your voodoo interpretation of the way inflation affects salary earners and business owners is deafening.
My point in all of these is that there was and is no basis for celebration at anytime on the performance of the Nigerian economy. The politicians (PDP and APC) have been the beneficiary of growth all this while.

Your insistence on defending your self-imposed fallacy is beyond comprehension.
You're calling it a fake GDP number when it peer-reviewed and accepted by World Bank, IMF, IFC, Fitch, Bloomberg, ADB, S&P, Moodys and FT etc
Foreign investors find these agencies credible and what have you? Nothing !!
That same GDP number was what IMF based its calculation on to say that R/SA has over taken.
What have you to show that ur own number is accurate? Nothing
I dwell on facts while you're concerned about feelings.
America is the largest economy in the world is based on its total GDP
Qatar has the higgest GDP per capital in the world
Our reference point is about the largest economy in Africa and RSA just over took Naija.
If you want talk about country in Africa with the higest GDP per capita, then Equatorial Guinea is the country for you.
You can't have it both way.

adconline:

Your insistence on defending your self-imposed fallacy is beyond comprehension.
You're calling it a fake GDP number when it peer-reviewed and accepted by World Bank, IMF, IFC, Fitch, Bloomberg, ADB, S&P, Moodys and FT etc
Foreign investors find these agencies credible and what have you? Nothing !!
That same GDP number was what IMF based its calculation on to say that R/SA has over taken.
What have you to show that ur own number is accurate? Nothing
I dwell on facts while you're concerned about feelings.
America is the largest economy in the world is based on its total GDP
Qatar has the higgest GDP per capital in the world
Our reference point is about the largest economy in Africa and RSA just over took Naija.
If you want talk about country in Africa with the higest GDP per capita, then Equatorial Guinea is the country for you.
You can't have it both way.

All you have written above is crap and its obvious that you are either trivial very mischievous or out-rightly Ignorant!
Of what importance is having a large GDP if the people are suffering? What is the income per capita (not CAPITAL) of USA?
Once more you say nothing about your earlier voodoo interpretation of the impact of inflation on business owners and salary owners. Olodo!

1freshdude:


All you have written above is crap and its obvious that you are either trivial very mischievous or out-rightly Ignorant!
Of what importance is having a large GDP if the people are suffering? What is the income per capita (not CAPITAL) of USA?
Once more you say nothing about your earlier voodoo interpretation of the impact of inflation on business owners and salary owners. Olodo!

Your submission is riddled with ignorance, contradiction and arrogance.
On one hand you are arguing that we should look at GDP per capita instead, when the metric used in ranking economies is aggregate GDP.
Then are you arguing against urself when I cited two countries in Africa with highest GDP per
This post is about the largest GPD in Africa not about GDP per capita as measured by IMF ( mentioned capita in several posts, not just one typo)
You're just trying to hard to sound intelligent when in fact you're making yourself sound dumber.
This ranking has never been about GDP per capita of African countries!!
You haven't said anything new about how inflation and devaluation affect salaried workers and business- they both see their net worth wiped off and you " called it erosion"
A business man who used to buy N1.6m worth of goods when $1/N160, now buys N1.2m worth of good valued at $4000. A salaried worker on a N18k minimum wage who used to pay N5 for a sachet of pure water, now pays N10. Stagnant salary with increased prices
You talked about borrowers benefiting from this devaluation, ur lack of practical knowledge of Naija clearly shows that you are textbook reader of the economy. For ur info, Cash reserve ratio (CSR) has increased, but Banks aren't lending because of their exposure to a lot of non-performing loans.
Companies like Dangote and BUA that borrowed from intl lenders or have their loans guranteed by Exim banks ( if u know how they work without Google) are losing money. Also, SMEs that import raw materials, goods and services are having to pay more.

adconline:

Your submission is riddled with ignorance, contradiction and arrogance.
On one hand you are arguing that we should look at GDP per capita instead, when the metric used in ranking economies is aggregate GDP.
Then are you arguing against urself when I cited two countries in Africa with highest GDP per
This post is about the largest GPD in Africa not about GDP per capita as measured by IMF ( mentioned capita in several posts, not just one typo)
You're just trying to hard to sound intelligent when in fact you're making yourself sound dumber.
This ranking has never been about GDP per capita of African countries!!
You haven't said anything new about how inflation and devaluation affect salaried workers and business- they both see their net worth wiped off and you " called it erosion"
A business man who used to buy N1.6m worth of goods when $1/N160, now buys N1.2m worth of good valued at $4000. A salaried worker on a N18k minimum wage who used to pay N5 for a sachet of pure water, now pays N10. Stagnant salary with increased prices
You talked about borrowers benefiting from this devaluation, ur lack of practical knowledge of Naija clearly shows that you are textbook reader of the economy. For ur info, Cash reserve ratio (CSR) has increased, but Banks aren't lending because of their exposure to a lot of non-performing loans.
Companies like Dangote and BUA that borrowed from intl lenders or have their loans guranteed by Exim banks ( if u know how they work without Google) are losing money. Also, SMEs that import raw materials, goods and services are having to pay more.

Bullshit as expected! A high GDP means nothing if it doesn't translate to improved welfare for the citizens.
Am out!