The report will only make sense if you will return our exchange rate to 200 naira per dollar and then our rice to 9000 per bag. If not, the report is a useless as a pig to Muslim.

Buhari the most performing president, Nigeria ever had please rule us forever.

lastmessenger:
The report will only make sense if you will return our exchange rate to 200 naira per dollar and then our rice to 9000 per bag. If not, the report is a useless as a pig to Muslim.

Another face saving. Please tell us what the exchange was in 1985 before ibb and False the SAP managers started devaluation of Naira.

Again even if you cannot start from 1985, you can at least start from Obj in 1999. Devaluation of national currency is economic management tool used all over the world including big countries like, America,UK and even Russia.

FAKE NEWS ALERT

Good

We all know that Nigeria is not the best performing economy, no need to stress it but then how did we accumulate so much external debts? how did we get here? a time will come when the future generations will be owing world powers a substantial amount of money and that time is close, they should keep accumulating debts like it's no man's business and yet embezzling recovered loots, I'm just so tired of government, none of them seems better.

Forbes don give Apc campaign achievements to talk about !

Babzrockman:


What are u talking about? Blow us with facts! Nigeria's economy like u said is the largest but not most effective and or best in Africa.. not until this latest ranking by Forbes.

We should be thanking God... we don't have to relate every single story to politics

What should we be thanking God for? the economy is obviously moving to a slump and you are here thanking God.

jayson87:
FAKE NEWS ALERT

Very fake and purchased propaganda by the looters in APC under Buhari.
Below is what captures the reality of many of our fellow citizens.

dre11:
The Nigerian economy will require more deliberate policy measures and engagements than the current responses in order to avert another recession, experts at the First Securities Discount House Limited (FSDH) have warned.

In an interview with journalists last weekend, the Head of Research, Ayodele Akinwunmi, noted that the real Gross Domestic Product (GDP) growth rate of 1.50% recorded in Q2 2018 was below the expectations of most analysts.

Akinwunmi said: “The current low GDP growth rate is not strong enough to stimulate credit creation. It has also increased the risk of doing business in Nigeria. Therefore, urgent measures are required so that low GDP growth rate does not become a new norm in Nigeria.”

Agriculture, which is the largest sector of the Nigerian economy at 22.86%, recorded a marginal growth of only 1.19%.

FSDH Research notes that the slow growth in the agriculture sector, if not checked, may lead to food shortage in the country and consequently escalating food prices and rising inflation rate.

Trade, which is the second largest sector of the Nigerian economy, contracted by 2.14% and also entered a recession in Q2 2018.
“The weak purchasing power in the country is responsible for the contraction in the Trade sector.

Improvement in the business environment that can lead to job creation and payment of salaries of workers, particularly among the state civil servants, will stimulate purchasing power,” he said.

FSDH Research observes strong growth in the information and communication and construction sectors of the economy.

The shortfall in crude oil production is weighing down on the external reserves from the full benefits of the favourable crude oil prices in the international market.

https://www.dailytrust.com.ng/another-recession-may-be-eminent-says-fsdh.html

APC is always lying and spreading fake news.

This is not from Forbes. That article was written by Penresa. Anybody can pay penresa to write anything. The description of themselves shows they are open to pass any propaganda for the right price
http://www.penresa.com

Babzrockman:


What are u talking about? Blow us with facts! Nigeria's economy like u said is the largest but not most effective and or best in Africa.. not until this latest ranking by Forbes.

We should be thanking God... we don't have to relate every single story to politics

have you been to other African countries? If you have, then...

The revival of Nigeria’s economy has gained momentum under the guidance of President Buhari’s ERGP programme; its ambitious targets yield results that seem to indicate that they will soon be superseded.

In spite of difficult times, Nigeria has been rated as the top 10 most improved economies in 2016/2017.

“Nigeria is a very resilient country in terms of economy,” states Mr. Venkatapathy Venkataraman Group MD at NIPCO.

“If the tight monetary policy continues, and the Central Bank continues to manage the liquidity that makes FX, the economy may grow more than the 1.8% projected,” claims Mr Abubakar Jimoh, CEO at Coronation Merchant Bank.

Although energy sales in Nigeria account for up to 80 percent of all government revenue and more than 90 percent of the country’s exports, Agriculture and ICT sectors have flourished, providing steady growth, employment and investment opportunities.

The ERGP’s shift towards becoming import dependent has been particularly successful in Agriculture. Proforce MD, Mr Ade Ogundeyin declares, “the government is serious and committed about made-in-Nigeria goods. They are saying that if it can be produced in Nigeria you don’t import it.”

This has been a result of the ERPG programme and its emphasis on industrialisation and diversification policies which boost capital inflows and encourages ease of doing business.

In November 2017 Godwin Emefiele Governor of the Central Bank of Nigeria CBN’s presented Nigeria’s economic outlook for 2018, predicting that national forex reserves will hit US$ 40bn in 2018. In introducing I&E forex the improvement in the ease of doing business is guaranteed.

“The Central Bank of Nigeria (CBN) played an extensive role in ensuring relative price stability and in managing the dearth of foreign exchange,” declares Mr Obeahon Ohiwerei, Managing Director at Keystone Bank.


The government’s intention to use telecoms and ICT for economic development and financial inclusion is auspicious for the industry. Executive Vice Chairman of the Nigerian Communications Commission, Mr Umar Danbatta states that “telecoms contribution to GDP is now close to 10% and has been contributing 1.4 trillion naira to the economy.”


Minister of Power, Works and Housing Hon. Fashola confirms the commitment to IT, “We’re installing more broadband and connectivity across the country,” which in turn enhances a definite entrepreneurial spirit at play amongst the people.

The government has made it extremely clear that it will be pouring funding into infrastructure. Minister of Power, Works and Housing Hon. Fashola declares, “the investment in infrastructure is driving the value chain of the economic diversification.”

The government’s plans to modernise and restructure the country’s public transport system has proved a great opportunity for investors and the economy.


Nigeria remains a highly appealing destination for investors. Mr Tunde Fowler, Chairman at FIRS elaborates, “Nigeria is an investor’s heaven with so much potential; from industry to agriculture to telecommunications. There’s so much room for expansion and the ease of doing business ensures that anyone who has a business, or who intends to start a business, will not have to face any bureaucracy, roadblocks or hindrance.

Nigeria’s government is determined to provide profound and long-term change in economic prosperity and stability; there remains little doubt that it is Nigeria’s destiny to uphold the title of largest economy in Africa for a long time yet.

Let us read through the article in support of his title.

1. It was never stated that Nigeria is the biggest economy in Africa. That would be an outright lie.
2. It was stated that Nigeria was one of the most improved economies in Africa in 2016/2017. This is debatable because Nigeria just came out of a spate of negative growth.
3. Quotes are from govt officials, Keystone bank and NIPCO (really?) to support the conclusion.
4. All was hearsay, nothing of substance. It's all based on the same govt will do, nothing done except in agriculture which we all have to agree started before the current govt.
5. Who is Penresa the author?
6. How can the op be talking of debt to GDP ratio that developed economies are referring to rather that the ability to pay?
7. Since Naira has been devalued, does it still make sense to be referring to the dollar amounts as if they are on the same base. We will need more Naira to pay off our debts now than before.

Lastly, it's not about Peter Obi or whoever else (although they were quoting World Bank figures not their own). It's about the fact that this govt is mortgaging our future with nothing to show for it. How can after 3 years, we are still benchmarking are position with an era that we agree need to change. We need to see that change.

MrPolitics:
What is this one saying? Nigeria has been Africa's largest economy since 2013 and is definetely not Africa's best performing economy in 2018 with such slow GDP growth.
But it remains the largest economy

now second

Buterflyle0:


This is how you make an analogy

US National Debt - $21 Trillion - Debt to GDP 76%
UK National Debt - $2.3 Trillion - Debt to GDP 89%
China National Debt - $4.3 Trillion - Debt to GDP 41%
Nigeria National Debt - $73 Billion - Debt to GDP 21%

Debt is not the issue. It's what you do with it that's the issue.
Question is - If debt is rightly invested in infrastructure (that creates Capital Formation) or human capital (that keeps people alive & develop their skills and mental capacity), we'll be ok. If truth be told, a large Percentage of our National Debt was looted by the previous governments.

The conversation we should be having concerning our National Debt is
- Is it sustainable?
- What is it invested on?
- How much would those investments add to the GDP?
- When should we expect these ROI?

This government is committed to infrastructural awakening and is well on the course to achieving this with a time frame in mind after which we begin to get our ROI fast

These are some of the key indices that bring about an economical rating and yes as it stands now, Nigeria is the best economy in africa all thanks to this present Government which remained unwavering in the face of recession and maneuvered the nation out of those murky waters to the place where Forbes could now rate us as they have done.

Kudos to PMB and PYO.

A match made in heaven.

God bless Nigeria

What is this government committed to doing? the recession you claim the maneuvered us out of is the same recession the pushed the economy into, they have been hitting and ringing bells on economic diversification, but up to now nothing to show for, even the 2017 Economic Recovery Growth Plan is a total failure, so spare us the undeserving praise you are giving them. You keep hitting on ROI, what investment has the government done with the debts to get ROI? the government can't even boost of what the used the Abacha recovered loot to do, what the government will say is that it was shared to the poor when we all know it has been looted for 2019 upcoming election which is the reason for the much money in circulation causing CBN to use contractionary monetary policy before we hit an all time inflation next year, what reasonable project have the government embarked on?

In the land of the blind the man with one eye is king

Forbes Qfrica is not Forbes Magazine totally different sites. Nigeria is among the worst performing economies in Africa and the world. Gdp growth is bearish. Nigeria is now second economy in Africa

I don't need to argue with anyone, since most here wants to survive with facts and figures. If this government is performing extremely well, I wonder why the citizens are still rated the poorest. Everyone borrows, even business man, but can someone show me what this government have done with borrowed money? Lastly, to those that live and survive with facts and figures, compare the purchasing power of naira today and of 5years ago.

Yahoo boys don boost the economy ��

me69:
Forbes Qfrica is not Forbes Magazine totally different sites. Nigeria is among the worst performing economies in Africa and the world. Gdp growth is bearish. Nigeria is now second economy in Africa

Exactly, these people are shameless and gullible. They can believe anything Buhari.

phabulux:



Fools everywhere!


You yeebos are thieves; so, you prefer to be governed by thieves. Thank God you're not in majority.

Is there any comparison in that write-up? Or you are just frustrated.

Its not about being the best economy or whatever... how has it affected the standard of living of citizens? if its not having a positive effect on the people's standard of living then its trash. That's all

Part of the propaganda to deceive more Nigerians. And sadly, a huge portion of us will be swayed. Simply ask yourself am I better of now than I was pre this administration of cluelessness?
What does it cost to run my generator andand car a day in terms of fueling?
What does it cost to feed myself and family a day?
Can I pay for good education for my children today?
What is my savings for the rainy day?
When you consider all these questions and your answers are on the negative side then you will know how bad the economy is.
A Buhari and a Kemi as financial controllers of the economy is the worst thing that ever happened to Nigeria.
Corruption that was prevalent in the past admin is twice more potent in this government, but thier own is that, they lack the skills to make polices that at least kept Nigerians in a not so bad situation.

APC LIES

kotv:
APC is always lying and spreading fake news.

This is not from Forbes. That article was written by Penresa. Anybody can pay penresa to write anything. The description of themselves shows they are open to pass any propaganda for the right price
http://www.penresa.com

Interesting discovery. Thanks for sharing this information.
Are you sure that the Forbes Africa is a part of the real Forbes
Unlike the Asian and European derivatives that are linked to the main Forbes website, the African one used by Buhari and APC propagandists is not linked to the main one but stands alone like a disowned orphan or a fake website.

https://www.forbesafrica.com/

https://www.forbes.com/forbesasia/#6fa01eee2f95

https://www.forbes.com/home_europe/#e8cf098257a9

Hurray with empty stomach

Buterflyle0:
The most annoying thing is that the media would never publish this sort of news. But would be quick to publish all manner of negatives

They will not because they know the difference between an op-ed and a facts based story

Freetech:
Hurray good news to the patriots. Here is the global rating of Nigeria economy so far so good in 2018.

A standing ovation for the wonderful team of PMB.

Forbes rates Nigeria as 2018 best economy in Africa -

https://www.forbesafrica.com/economy/2018/04/09/making-nigeria/

https://www.von.gov.ng/forbes-rates-nigeria-as-2018-best-economy-in-africa/

Do you agree, please present your argument with facts and figures.

Before you begin to write consider the following points.

Technically this government have liquidated all the loans she took so far. Wait before you cry foul. Nigeria total debt @ December 2014 was $67bill this converted to Naira @ N179/$ is N12Trn. However this same amount converted at current exchange rate @ N310/$ is N20Trn. Now add the 5 months salary borrowed to pay civil servants, N200bill subsidy debt and N1trn owe local contractors.

Considering the fact that current debt profile stood at N22Trn @ N310/$ is just $70bill. This is the fact the opposition doesn't want you to know and the reason they only quote Nigeria debt in Naira to deceive lazy Nigeria who cannot think on their own.

While one will forgive not so intelligent Dino, it's highly pathetic that Peter Obi also follow up on this lie.

Below you will also find Nigeria foreign reserve journey to date

Finally, talking about resources available. Comparing the first 3 years of Gej and PMB, Gej made $393bill while PMB made just $96bill. According to the link below Gej depleted foreign reserve to $29bill and PMB grew it to $45bill. You know what they both did with the resources.

Are you still not convinced, take a trip to Venezuela, or Agentina where interest rate is 60%, Greece, Zimbabwe and I'm sure how mismanaged economy look like

December 2014
https://www.vanguardngr.com/2015/07/n12trn- debt-profile-worsens-nigerias-woes/

https://nairametrics.com/nigerias-historical-external-reserves/

Example of mismanaged economy

www-bbc-com.0.i.org/news/business-45360223?iorg_service_id_internal=624173547714020">https://https-www-bbc-com.0.i.org/news/business-45360223?iorg_service_id_internal=624173547714020%3BAfqezR6Gu4uGVZk0

/
Keep deluding yourself.

Go to the market and see best economy.

A bad company can change it's accounting method to look profitable. Mark-to-market accounting has destroyed many companies. What method did Forbes' use that hides the obvious? In 2008, many companies these rating agencies rated AAA collapsed in less than a month.eg Bear Stearns, Lehman brothers. What changed within a month? Believe the ratings of Forbes', S&P, Moody's and Fitch at your own peril.

/

Colourich:
What should we be thanking God for? the economy is obviously moving to a slump and you are here thanking God.

I would strongly advise that you move back to romance section. This is politics section, you either talk with facts or remain mute. Reading two posts from you with all of them being high level statements is ridiculous. You must not comment ma'am.

If US with a debt of $24Trn is your dream land, then you should know better what debt is. Do you know how much Dangote owes? What about Innoson?

What is Good debt and bad debt? Is Lagos State not the state with the highest debt in Nigeria? Then the question is, why is Lagos the best state with infrastructures that everyone is running to? You obviously don't know nothing about economy, tax, and debt.
Every Lagosian owes the state 36k as at last time, that does not mean they can't pay.

InvertedHammer:

/
Keep deluding yourself.

Go to the market and see best economy.

A bad company can change it's accounting method to look profitable. Mark-to-market accounting has destroyed many companies. What method did Forbes' use that hides the obvious? In 2008, many companies these rating agencies rated AAA collapsed in less than a month.eg Bear Stearns, Lehman brothers. What changed within a month? Believe the ratings of Forbes', S&P, Moody's and Fitch at your own peril.

/

Every researched article can be published. There's room for new publications from well researched articles.

we agree and have accepted you know better than the writer of the published article, can you take a step forward by publishing yours from what is in the market.

Is that so hard?

Buterflyle0:
The most annoying thing is that the media would never publish this sort of news. But would be quick to publish all manner of negatives

Which news?