Daejoyoung:

90% of the GDP does not thrive from the oil sector, what you mean to say is that 90% of Governments' money and foreign exchange comes from the oil sector, so oil primarily affects the budget of Nigeria or becomes a beam balance for the economy as a whole. But this is a small matter and it's totally different from saying 90% of the GDP is from oil. Nigeria is even more diversified than Algeria and Angola ( when it comes to dependence on oil ) but unlike most countries,it is a largely informal economy. Services and Agriculture contribute about 25% each while oil contributes about 15% to GDP.

254tobby:


Okay but the oil thing was the main Nigerian economic propeller in the past occasion,right?

uzzolik:



why quoting morroco. quote kenya. your GDP is $75b and your economy is bigger than nigeria you are busy comparing yourself with Nigeria. dont even expose yourself. so what you want to use to compare your economy with nigeria is those beaches and lodges you are showing? well its a matter of choice. we are not in anywhere competing with morocco. they know their limit and we know our limit. i have been hearing about morroco when i was so little, when nigeria was nothing they were reigning, then we suddenly became giant. alot more will still happen in future.
maybe you should compete with sechelleys. those are tourism destinations.
those beaches and lodges cannot make you a giant, neither does it make anybody a giant. it takes a lot more to become a giant.

uzzolik:

what do you expect to see from nigeria. beaches and lodges. sorry. you wont see those. yes nigeria is a giant whether sleeping or awake. but you cannot reach that level anytime in your entire existence.
is it not this kenya i have visited. or is there any other kenya. don't try to deceive anybody with those beaches and lodges. atleast i have said where you are doing very well. but in terms of rubbing shoulders. forget it Nigeria is not your mate.

254tobby:


Apart from big population and a huge GDP which is mostly operating under multiplier econom,what do you think you guys pridely have that Kenya doesn't have which makes you peeps brag about it to others?

Ttipsy:
if you like be equivocal or go mad.

Kenya can't achieve what Nigeria has achieved. Nigeria is thousands ahead of Kenya in all aspects. thanks. Which Kenya Nairobi blip

Ttipsy:
if you like be equivocal or go mad.

Kenya can't achieve what Nigeria has achieved. Nigeria is thousands ahead of Kenya in all aspects. thanks. Which Kenya Nairobi blip

Daejoyoung:

Yes because it's major foreign exchange, it determines the naira directly than other sectors and the naira to dollar also plays a major role in the gdp. Also because it's major income earner(90%) it affects Government revenue directly.
You can say it is the most developed sector of the Nigerian economy.

254tobby:


Okay good,when was oil discovered in Nigeria?

254tobby:


Look at this pot calling the kettle black.

Do you know the meaning of GDP?
Were you taught economics in the relevant learning institutions or is it that your tutor misled you by default?
Don't raise some compromises here.

GDP is the total income production of all goods and services produced by citizens in a particular country irrespective of their nationalities.

So how does your services outside your country constitutes part of the Gross Domestic Product?
Those services which you guys remit to other countries forms part of the Gross National Product GNP,not GDP neither.
And as for the case of south Africa,its the only country that's truly and verifiably known to be the real giant of the continent,even the world knows that,you can dispute it with your own bitterness and salivate jealousy and also pluck some egoism to give yourselves many titles as possible,no one will be damn bothered.
Don't be a learned fool with your statement of model thinking of 'i know everything'.

nwoke37:


Nigerian companies don't want it. They don't want cheaper goods coming into the country to compete with them. I lean to the side of supporting them. Other African countries have better electricity and better infrastructure which makes for far far cheaper goods than those made in Nigeria.

Let's not mention the fact that manufacturing only contributes 9% to our gdp. That's pretty low. Nigeria has to protect its infant industries and allow them to grow before opening up and allowing competition. We don't want a situation wherein our infant industries are killed off by cheap imports like what happened to our textile industries wherein cheap imports from China ruined them.

Nigeria has to follow a protectionist policy for now and close itself up for a while. What we're doing isn't abnormal. Developed countries of today did the same when they were developing such as America.

In the next 10 to 20 years Nigeria should be able to open up and sign such agreement as long as our infrastructure is improved and our industrial base becomes larger and stronger.

Many greedy African nations want Nigeria to open up and sign this agreement because of its huge market, the largest in Africa. For now Nigeria's large population is large enough to sustain and grow our industries and doesn't in reality need this agreement.

On a side note Nigeria might succumb to pressure from other African nations to sign the agreement(i hope they don't, at least for now).

if you look at America now, they're doing the same thing. They're gradually promoting a protectionist policy headed by President Trump. They're increasing tariffs on steel and iron because the American steel industry has been ruined by cheap imports from largely Canada.

MduZA:


SA signed...

Jay254:
Eld

nwoke37:


Death isn't going to happen. Nigeria has a large enough market to sustain and grow its industries. I'm pretty sure Kenya would love to dump their goods in Nigeria. I can see the temptation in your eyes... lol

jln115:

Very sad!!! Time Africa really evaluate her conservation efforts imo!!

TayserMahiri:


No way SA would fail to sign it. They'd have to be blind. They have nothing to fear because of their fearsome industrial strength.

naijalander:
Our Labor Unions stopped the move because it will turn Nigeria to a dumping ground. Mind you, the idea was Nigeria's idea. Even South Africa was missing.

uzzolik:

what do you expect to see from nigeria. beaches and lodges. sorry. you wont see those. yes nigeria is a giant whether sleeping or awake. but you cannot reach that level anytime in your entire existence.
is it not this kenya i have visited. or is there any other kenya. don't try to deceive anybody with those beaches and lodges. atleast i have said where you are doing very well. but in terms of rubbing shoulders. forget it Nigeria is not your mate.

uzzolik:


then we suddenly became giant.

uzzolik:


none of your hotels can be rated 5 star. so why would they give me sleepless night. except there are ones you have not shown. who are my brothers?.so it the judgement of the so called brothers that is making your hair grow tall? i would rather believe that kenya is ahead of nigeria if that would make you happy and then which is more deceptive. reason it yourselve naaa. A GDP of $510B and $75B, would i not be blind if i believe 75B is bigger than 510B? so it is you that is blind.

Jay254:


We have several 5* hotels in the country, our hotels have won continental and international awards for their quality.. How dar a nigerian talk about 5* when you only see them on tv...

gallivant:


Lol

The Somali will claim Allah gave them dominion over the land and water. To be on the safe side we MUST leave them in Africa when we secede. No island will be safe with Somalis running a mock as its in their nature.

mildflame:


Ur piont of view isn't any of my bizness! In 9ja the vocalbulary jealousy, we don't know.
We got no time convincing wannabes, we are CLASS CRASS inside out

uzzolik:


At times you make some sense, at the same very moment you start making useless statements. what percentage of nigeria GDP is contributed by oil sector? most the GDP is derived by Service sector including our services outside the country. if you know nothing about GDP just shut up ok

254tobby:


And who gives it a damn care ?don't misquote issues that are uncalled for,be precised and know what you're sharing with others,don't fabricate statements and furthermore no one is interested to know your shithole country,the likes of vocabulary ..

Daejoyoung:

lt's not like Nigeria has the most to fear though nor that she can't compete, but looking at the Nigerian population, there's a call to review the agreement carefully and to weigh it on the balance,see what we produce already that satisfies the Nigerian market and to what extent we would be willing to allow the foreign influx(even from African countries).
Nigeria is not totally against the bill, and would definitely sign, but with our population there must be careful planning.
This is not about becoming the most developed first as in the case of your comparison of Tanzania to Kenya, but about having more sustainable home industries that can stand the foreign influx and still satisfy a huge chunk of the Nigerian market. Nigeria may even sign the bill this second, maybe we should start with a single currency first and Nigeria would be the first to sign this bill, but if we can't meet the demands of our huge market and we allow this(without careful planning) it may affect us terribly.

TayserMahiri:


Good point. Are you telling us your industries are more vulnerable than industries in smaller African countries? Like Rwanda?