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Nairaland Forum / Nairaland / General / Politics / Nigeria Loses Top Position In GDP To South Africa (2883 Views)
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Re: Nigeria Loses Top Position In GDP To South Africa by 1freshdude: 6:12am On Aug 12, 2016 |
adconline: 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. |
Re: Nigeria Loses Top Position In GDP To South Africa by adconline(m): 3:32pm On Aug 14, 2016 |
1freshdude: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. |
Re: Nigeria Loses Top Position In GDP To South Africa by 1freshdude: 5:29pm On Aug 14, 2016 |
adconline: 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! |
Re: Nigeria Loses Top Position In GDP To South Africa by adconline(m): 7:02pm On Aug 14, 2016 |
1freshdude: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. |
Re: Nigeria Loses Top Position In GDP To South Africa by 1freshdude: 3:19am On Aug 15, 2016 |
adconline: Bullshit as expected! A high GDP means nothing if it doesn't translate to improved welfare for the citizens. Am out! |
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