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Economy: Nigeria Is The Fastest Growing Country In The World! by infonubia(m): 11:56pm On Dec 08, 2013
Based on data from the International Monetary Fund (IMF) and projected 2014 nominal GDP growth rates for the 50 largest economies in the world, Nigeria is the No. 1 fastest growing country in the world, The Motley Fool (a site for long-term investors) reports.

According to the article, the 5 fastest growing countries in the world starting with No. 5 are:

Peru - 5.7% GDP growth
Bangladesh - 6% GDP growth
Philippines - 6% GDP growth
China - 7.3% GDP growth
Nigeria - 7.4% GDP growth

Here's an excerpt from the article regarding Nigeria's economy

Nigeria is the 30th largest economy in the world, according to the IMF, and like Bangladesh, it's heavily a result of its population: This country is the seventh most populous nation in the world and quickly is becoming a power player in Africa's greater economy. Oil and the energy sector, in particular, have fueled Nigeria's gains, with the Niger River delta a massive bastion of oil reserves.

Despite the country's political instability and location in a socially unstable location of the globe, the country's leadership in Africa's oil sector has made it a hot target for the world's biggest oil majors.

However, several oil giants recently have looked to sell off assets in the region as Nigeria promotes domestic ownership of energy reserves. Chevron sold three oil blocks for $900 million back in November, the latest of a string of sales from companies including Royal Dutch Shell and ConocoPhillips.

Chevron's still the third-largest energy producer in the country, and the company has said it's committed to Nigeria, but a shift from foreign to domestic companies could be coming for this growing African energy giant.

Nonetheless, Nigeria's energy dominance is going nowhere. The country has considerable ground to make up before it can think about joining the ranks of more advanced emerging economies such as Brazil and China, but in the meantime, the country's oil and natural gas will be a friend to investors.

http://www.infonubia.com/2013/12/economy-nigeria-is-fastest-growing.html

3 Likes

Re: Economy: Nigeria Is The Fastest Growing Country In The World! by adepojuot: 12:01am On Dec 09, 2013
Really!!!first comment tinz
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by osystein(m): 12:31am On Dec 09, 2013
wow!! good to know...
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by infonubia(m): 12:52am On Dec 09, 2013
osystein: wow!! good to know...
Same thing I said when I found the story.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by flexymole: 12:54am On Dec 09, 2013
The economy is growing from the theoritical point of view but in practice it isn't, An economy is said to grow when the growth observed is reflective on the populace.
Nigeria is a state misrepresented by it leaders for cheap recognition.

1 Like

Re: Economy: Nigeria Is The Fastest Growing Country In The World! by MrKnowitall: 12:55am On Dec 09, 2013
You people are funny. Nigeria's economy is no where near the fastest. In fact, the argument can be made that Nigeria's economy is

one of the most inefficient and sluggish economy in the world. Well, actually, maybe Nigeria might be somewhere near the top if we

are speaking of nominal GDP. However, nominal GDP is almost totally useless because it does not positively affect the lives of the

average citizens. But as far as real GDP? NO WAY my friend!! China's real GDP is growing much much faster than Nigeria's.

This is the reason why we are seeing positive changes in China: updated infrastructure, growing middle class, increase in

home purchase, etc... you people need to stop wetting yourselves over false information, Nigeria still has a very long way to go.

cheers.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by babatea10(m): 12:55am On Dec 09, 2013
Thank God,i present 2dae
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by Johnklein(m): 12:56am On Dec 09, 2013
political crisis n instability is d major thing demeaning Nigeria, Nigeria a great country with abundant resources
God bless Nigeria
like if u bliv naija is great
dnt forget to check this out if u are a victim
www.nairaland.com/1546568/twelve-days-xmas-song
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by kolubo(m): 1:12am On Dec 09, 2013
Fastest growing economy my yans*h! When 70% of fresh graduates for 9ja just dey waka about.
The last time we had electricity was 3wks ago in my area, ASUU strike since july make dem allow person hear word joor.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by Brimmie(m): 1:16am On Dec 09, 2013
Same Country that a dollar can't buy food that can form shi!t? undecided
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by infonubia(m): 1:56am On Dec 09, 2013
Mr Knowitall: You people are funny. Nigeria's economy is no where near the fastest. In fact, the argument can be made that Nigeria's economy is

one of the most inefficient and sluggish economy in the world. Well, actually, maybe Nigeria might be somewhere near the top if we

are speaking of nominal GDP. However, nominal GDP is almost totally useless because it does not positively affect the lives of the

average citizens. But as far as real GDP? NO WAY my friend!! China's real GDP is growing much much faster than Nigeria's.

This is the reason why we are seeing positive changes in China: updated infrastructure, growing middle class, increase in

home purchase, etc... you people need to stop wetting yourselves over false information, Nigeria still has a very long way to go.

cheers.

Well, the list wasn't put together by Nigerians. Also, the data was provided by the IMF. Numbers don't lie wink
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by bluerange(f): 2:06am On Dec 09, 2013
Is manufacturing here cheaper? Has infastructure improved? ls food affordable to many Nigerians? Using Kenya as an example, if you budget well N15k can feed you comfortably for a month- balanced diet levels. IMF and their voodoo figures again!
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by MrKnowitall: 2:11am On Dec 09, 2013
infonubia:

Well, the list wasn't put together by Nigerians. Also, the data was provided by the IMF. Numbers don't lie wink

if the list was put together by the IMF then why is infonubia.com posted as the information source? If you want to

prove me wrong please provide the link to the original IMF article, journal, essay or whatever it was published in. But I

doubt that you will find it. Nigeria is a very inefficient and sluggish economy, more then 50% of economic activities

that goes on in the country are not recorded. link please. cheers
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by AjaraEwuro: 5:59am On Dec 09, 2013
you dont have any data on which you based your assumptions or opinions, yet you open your mouth wide to criticize those who are doing their job. If the IMF has said the other way round, you will jump to high heavens praising them for a job well done, nonsense.

3 Likes

Re: Economy: Nigeria Is The Fastest Growing Country In The World! by MrKnowitall: 6:20am On Dec 09, 2013
AjaraEwuro: you dont have any data on which you based your assumptions or opinions, yet you open your mouth wide to criticize those who are doing their job. If the IMF has said the other way round, you will jump to high heavens praising them for a job well done, nonsense.

Do yo have the link to the IMF article?
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by Nobody: 6:24am On Dec 09, 2013
flexymole: The economy is growing from the theoretical point of view but in practice it isn't yet. [s] An economy is said to grow when the growth observed is reflective on the populace.
Nigeria is a state misrepresented by it leaders for cheap recognition. [/s]

Fixed.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by SLIDEwaxie(m): 6:53am On Dec 09, 2013
Joke of the year..lol

i dnt doubt that!

Obviously, NOI is trying but she is a leaner because the common man doesn't feel the growing economy. Though, the theives up there are getting richer...
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by iterator25: 7:50am On Dec 09, 2013
Mr Knowitall: You people are funny. Nigeria's economy is no where near the fastest. In fact, the argument can be made that Nigeria's economy is

one of the most inefficient and sluggish economy in the world. Well, actually, maybe Nigeria might be somewhere near the top if we

are speaking of nominal GDP. However, nominal GDP is almost totally useless because it does not positively affect the lives of the

average citizens. But as far as real GDP? NO WAY my friend!! China's real GDP is growing much much faster than Nigeria's.

This is the reason why we are seeing positive changes in China: updated infrastructure, growing middle class, increase in

home purchase, etc... you people need to stop wetting yourselves over false information, Nigeria still has a very long way to go.

cheers.
you're uninformed.. and I don't think you're Nigerian

1 Like

Re: Economy: Nigeria Is The Fastest Growing Country In The World! by MrKnowitall: 8:22am On Dec 09, 2013
iterator25: you're uninformed.. and I don't think you're Nigerian

Am uninformed? well if you have better information let me see it. Because according to the website businessinsider.com,

Nigeria is not even top 21 of the world's fastest growing economy. Ghana is #16 with an 8.16 GDP growth per year and China is #9

with a 8.33 GDP growth per year. I have lived in Ghana so I understand why they rank this high. This claim that Nigeria is the

world's fastest growing economy with a 7.4 GDP per year is totally false. Nigeria's true yearly GDP growth is probably in the range

of 3.2 to 4.0 at best. Premature celebration is not wise fellas. you dont think I am a Nigerian? I am more Nigerian than you my friend. cheers
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by infonubia(m): 2:32pm On Dec 09, 2013
Mr Knowitall:

if the list was put together by the IMF then why is infonubia.com posted as the information source? If you want to

prove me wrong please provide the link to the original IMF article, journal, essay or whatever it was published in. But I

doubt that you will find it. Nigeria is a very inefficient and sluggish economy, more then 50% of economic activities

that goes on in the country are not recorded. link please. cheers

Maybe, just maybe if you visit the link referenced, you might find a link to the footley article.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by taharqa: 5:55pm On Dec 09, 2013
Mr Knowitall: You people are funny. Nigeria's economy is no where near the fastest. In fact, the argument can be made that Nigeria's economy is

one of the most inefficient and sluggish economy in the world. Well, actually, maybe Nigeria might be somewhere near the top if we

are speaking of nominal GDP. However, nominal GDP is almost totally useless because it does not positively affect the lives of the

average citizens. But as far as real GDP? NO WAY my friend!! China's real GDP is growing much much faster than Nigeria's.

This is the reason why we are seeing positive changes in China: updated infrastructure, growing middle class, increase in

home purchase, etc... you people need to stop wetting yourselves over false information, Nigeria still has a very long way to go.

cheers.
OLODO. What is 'nominal GDP' and what is 'real GDP'? Wetin be d difference??... Sm people for NL sha!!
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by MrKnowitall: 6:06pm On Dec 09, 2013
taharqa: OLODO. What is 'nominal GDP' and what is 'real GDP'? Wetin be d difference??... Sm people for NL sha!!

But if you dont have anything intelligent to say you can at least avoid looking stupiid my friend. Why must you behave like a $2

Asewo? Why the insult? cheers
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by prymesolution: 7:29pm On Dec 09, 2013
While this is something good, it doesn't reflect the reality of the situation on ground.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by infonubia(m): 9:51pm On Dec 09, 2013
prymesolution: While this is something good, it doesn't reflect the reality of the situation on ground.
I can definitely agree with that.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by Sealeddeal(m): 10:19pm On Dec 09, 2013
GEJ is doing a great job but we need more than paper analysis.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by infonubia(m): 10:24pm On Dec 09, 2013
Sealeddeal: GEJ is doing a great job but we need more than paper analysis.
good point.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by Nobody: 10:46pm On Dec 09, 2013
prymesolution: While this is something good, it doesn't reflect the reality of the situation on ground.

What exactly did you expect that ''reality of the situation on ground'' to be? For everyone to have had all their needs met? For everyone to be living in a mansion?

These reports are saying the economy is growing fast, not that we are now USA or Canada.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by prymesolution: 10:55pm On Dec 09, 2013
ROSSIKE:

What exactly did you expect that ''reality of the situation on ground'' to be? For everyone to have had all their needs met? For everyone to be living in a mansion?

These reports are saying the economy is growing fast, not that we are now USA or Canada.

Even Iweala said "Economic growth not meeting the needs of the poor." A poor man doesn't eat statistics.

How does having your needs met equals living in a mansion??
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by infonubia(m): 11:48pm On Dec 09, 2013
ROSSIKE:

What exactly did you expect that ''reality of the situation on ground'' to be? For everyone to have had all their needs met? For everyone to be living in a mansion?

These reports are saying the economy is growing fast, not that we are now USA or Canada.

The economy is growing but maybe not as much as expected considering the situation of the average person.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by otokx(m): 11:57pm On Dec 09, 2013
It is the fastest growing in the universe not just the world... lets spread the good news.
Re: Economy: Nigeria Is The Fastest Growing Country In The World! by infonubia(m): 2:52am On Dec 10, 2013
^^^ grin grin grin

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