Daejoyoung:

You even have time for these people, imagine comparing Kenya to a big country like Nigeria, and wanting to compare both manufacturing sectors, lol.
Nigeria don suffer, l don't blame dem sha, l blame Nigerians and the failed leaders. l tell you the truth, if Kenyans can be so confident to believe they have a bigger manufacturing sector than that of Naija, the likes of Gambia and Senegal may also begin to feel thesame way soon. lt's a pity actually, all these Ghana, Kenya don see us finish and it's not their fault.

rvp20182:
Interesting question - I would say when their data is taken at it highest & using real usd- exchange rate - their GDP drops to around 320B. https://nairametrics.com/naira-dollar-parallel-market-exchange-rate-daily/

320B - is still larger than South Africa & Egypt (with 100M arabs) - which clearly tells you that GDP is still over-estimated.

Now,Nigeria is basically an oil economy - the rest of economy basically collapsed in 1970s thanks to oil & mega corruption & really bad governance -So the nearest model you can find in Africa is better managed Algeria - Angola is a newbie!

If you go by Algeria - that around 160B dollars of GDP ( they sell about the same oil as nigeria +- 1.5-2M barrells) daily - Algeria export goods worth 80B dollars - and import around 50B dollars. Nigeria is doing something close to 50B - for exports - and 30B for imports - so on that account alone it's fairing worse than Algeria.

Algeria has around 40M people. Nigeria has 190B (real population is probably 150M). We also know using kenya & Ethiopia that population or land size doesn't matter - what matters is production.

Nigeria claims their agriculture (yams,cassava, millet, sorghum) is as good as Brazil (25% of 400B GDP is huge)- which is ridiculous - we know it's not even at South Africa level. The Nigerian agricultural ministry cannot count anything - so obviously all the so called agriculture GDP is fake - Nigeria are world leading importers of food (wheat +rice).

Typically the size of gov would give you clue of the size of GDP - because Gov is normally the biggest source of money for private sector, individual and main employer - looking at miniscule federal+state budget - there is nothing to write home about.

That leave us grappling for some decent consumption data - we know Nigeria has very little manufacturing (if they were big in Nigeria - you could have heard of them - like you do hear about their banks) - so majority of Nigeria consumed goods are imported - and yet that import bill is now less than 30B dollars! - I think around 25B dollars compared to Kenya 18-20B dollars!

If you check the tonnage - of goods arriving in their ports [ which is where most of consumer goods would arrive] - it around 1.6M TEUS - against Kenya's 1.1M TEUS - economy size of South Africa or Egypt - you're talking 4M plus TEUS if I am not wrong. Therefore this country that has very little manufacturing going on - it has no agricultural value chain like kenya that would support food processing - it yams & cassave direct to the mouth -- and manufacturing going on you can get figures from their breweries, coca-cola & such few multinationals - who have all been disappointed when they ventured in Nigeria to discover there wasn't any middle class to sell to.

Nigeria inflate their GDP contribution from stuff like ICT - mobile telephony/nollywood - when you can just manually add the revenues from MTN Nigeria & few others - and arrive at figures - about 3-4B dollars. They apply the same vodoo they use in agriculture to declare these sectors such money spinners .Their cement consumption & production the last few yrs was impressive - post Dangote (new phenomenon) arrival in 2000s - but now its down to 18M metric tonnes per annum - just about 3 times kenya. The rest of sectors are about kenya size or slightly higher - including their banking & intermediation etc etc.

Anyway give and take - I would say the very highest their GDP is around 150B (Algeria) - or at best 3 times Kenya GDP (250B) - which is unlikely! The given is around 50B dollars from oil production. The rest is speculation!

Anyway I am going to give a ballpark estimate of 200B dollars.

nwoke37:
"There's no city like Abuja in Kenya" - A Kenyan said that

TayserMahiri:



I've seen them. Paleontologist Richard Leakey is a prime example. He has spent most of his life in the hot Northern Kenyan desert sun hunting for fossils and his skin has been severely affected.

Happy 2k Pg in advance, but the candle is yours like previously.

kikuyu1:


HAHAHA! Dude,you're harsh but not wrong. African whites more often than not have noticeable facial sun damage. Leakey is typical. The last is a Brit truck driver showing the effects of 3 decades of relatively modest Northern hemisphere sun burn. Truly,the sun doesn't like the palefaces.

14:


You are almost correct, if you take the parallel market exchange rate, which is more acturate than the government controlled FX, Nigeria's GDP is roughly $270bn.

I am suprised why the Nigerian government use the controlled FX to calculate their GDP, which is not a teue reflection of what is happening on the ground. someone might even call it cheating.

The flip flopping of the nigerian stats department is leading the maltinationals leaving nigeria in droves. These investors gets the stats and analyse them and assume they would make a killing when they do invest in Nigeria, little do they know that the stats are not reliable and they get the shock of their lives when they struggle to survive in nigeria and at the end they divest.

Nigeria economy is 80% informal, so how do you calculate an informal economy GDP? Its a challenge to the government, hence they only raise some of the smallest Budget on the African continent, a $24bn budget for 180m people, thats criminal. if the status core continues, Nigeria will never pull itself out of poverty with such budget for a huge population. The biggest challenge for nigeria, in order to compete with some progressive countries in africa, they need to find way to formalise their economy. Informal economy is not sustainable, it does not produce quality jobs, as a results, you will never have a viable middle class.

According to new data released by Stats SA, poverty is on the rise in South Africa. The latest “Poverty Trends in South Africa” report shows that, despite the general decline in poverty between 2006 and 2011, poverty levels in South Africa rose in 2015. More than half of South Africans were poor in 2015, with the poverty headcount increasing to 55,5% from a series low of 53.2% in 2011. The figures are calculated using the upper-bound poverty line (UBPL) of R992 per person per month (pppm) in 2015 prices. This translates into over 30.4 million South Africans living in poverty in 2015.

The informal economy in Africa is big business. The International Labour Organisation (ILO) estimates that its average size as a percentage of gross domestic product in sub-Saharan Africa is 41%. This ranges from under 30% in South Africa to 60% in Nigeria, Tanzania and Zimbabwe.

nwoke37:


Innoson manufactures and assembles.. Things like car engines, he has to import.. Other things like the wheels and steel cover of the car he manufactures in Nigeria.

Now let's look at Unilever a FMCG... you're probably using stats during the Nigerian recession.. Based of what i've seen Nestle is making above $250 million in sales in Nigeria, they also recorded high growth, this was after the recession
Many companies went down during the recession especially manufacturing..
Again you also have to look at market penetration.
Right now Unilever sales are growing and they're also expanding in Nigeria by building more factories
They just opened a factory last December..
You also have to take into account Nigeria's massive currency devaluation

Recently Nestle closed down their office in Nairobi for East Africa because of the bad market/sales. They restructured their company in that the office in South Africa will take care of Southern Africa and Eastern Africa

14:


You are almost correct, if you take the parallel market exchange rate, which is more acturate than the government controlled FX, Nigeria's GDP is roughly $270bn.

I am suprised why the Nigerian government use the controlled FX to calculate their GDP, which is not a teue reflection of what is happening on the ground. someone might even call it cheating.

The flip flopping of the nigerian stats department is leading the maltinationals leaving nigeria in droves. These investors gets the stats and analyse them and assume they would make a killing when they do invest in Nigeria, little do they know that the stats are not reliable and they get the shock of their lives when they struggle to survive in nigeria and at the end they divest.

Nigeria economy is 80% informal, so how do you calculate an informal economy GDP? Its a challenge to the government, hence they only raise some of the smallest Budget on the African continent, a $24bn budget for 180m people, thats criminal. if the status core continues, Nigeria will never pull itself out of poverty with such budget for a huge population. The biggest challenge for nigeria, in order to compete with some progressive countries in africa, they need to find way to formalise their economy. Informal economy is not sustainable, it does not produce quality jobs, as a results, you will never have a viable middle class.

Jonraid:
I can see! I feel for you.Why go to Europe in the most dangerous way? Are Nigerians that desperate to leave Nigeria? Big economies in the continent don't do the things that Nigerians do! Why not Kenyans,South Africans or Egyptians?

sufferNsmiling:


I said from beginning our problem is illiteracy stupidity and laziness. Why we are running away from the country like termites and soldier ants do not forget our mothers and fathers kicked out the companies from nigeria now they are stupid children want to go and work for those companies in other countries which they kicked out of nigeria. That is why nobody gives nigerian job nigeria's just sit at the side of the road in other countries safari and smiling.

sufferNsmiling:


I said from beginning our problem is illiteracy stupidity and laziness. Why we are running away from the country like termites and soldier ants do not forget our mothers and fathers kicked out the companies from nigeria now they are stupid children want to go and work for those companies in other countries which they kicked out of nigeria. That is why nobody gives nigerian job nigeria's just sit at the side of the road in other countries safari and smiling.

maidaboi:
hahaha
Nigeria will continue to give you sleepless night lol