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Nairaland Forum / Nairaland / General / Politics / Nigeria Now Tops South Africa As The Continent's Biggest Economy (41732 Views)
Africa Day 2020: President Buhari Preaches Peace Across The Continent / Nigeria Re-emergence As Africa’s Biggest Economy, An Economic Scorecard Of PMB / Nigeria Has Taken Over South Africa As Africa Biggest Economy ~ BBC (2) (3) (4)
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Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Truthbites: 6:36am On Mar 04, 2020 |
Audio cheet |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by idanone(m): 6:37am On Mar 04, 2020 |
Commentor:in a continent where everyone is blind, a man with one eye will remain their king....... |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Eddygre8(m): 6:37am On Mar 04, 2020 |
Just for the record |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Truthbites: 6:37am On Mar 04, 2020 |
Well, even as South Africa is under recession, it's still a million times better than Nigeria 2 Likes |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by 9jaRealist: 6:39am On Mar 04, 2020 |
Area4Area: Oil and gas is just about 7-8% of Nigeria's GDP... Accordingly, Nigeria's GDP growth is NOT driven by oil. However, Nigeria's economy is unduly affected by oil prices... Because over 90% of forex and about 70% of FG revenue comes from oil. Reality is that even diaspora remittances are more than oil earnings... If Nigeria invests in its huge domestic market (infrastructure, etc.), it can build a great economy without oil. > 2 Likes 1 Share |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by ogbu80(m): 6:42am On Mar 04, 2020 |
Area4Area:what have you gained from that? You claim that you have the best economy and yet people are suffering, every year thousands of Nigerians embark on a dreadful journey to Italy through the desert. Abeg free all those audio news jare. Best economy my foot..... 1 Like |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by ecclize: 6:42am On Mar 04, 2020 |
know if u read carefully the Op never said Nigeria grew economically but rather Nigeria overtook SA because of her second successive recession... this would have been a good news if Nigeria overtook SA while SA is doing good economically... and if u check the stat only Lagos account for more than 70 percent of those GDP... we practically have nothing to celebrate.. 3 Likes 1 Share |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by ReeLoaDead(m): 6:44am On Mar 04, 2020 |
BIG 4 NOTHING |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Acidosis(m): 6:44am On Mar 04, 2020 |
More like celebrating South Africa's recent fall. Our economy didn't improve, South Africa only slumped to another recession. There's nothing to celebrate. |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by SenorFax(m): 6:44am On Mar 04, 2020 |
And some ediots are still saying Nigeria is growing, wtf 1 Like |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by cerebralniggie1: 6:45am On Mar 04, 2020 |
Officialgarri: |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by ZooOga: 6:47am On Mar 04, 2020 |
The Giant is #1 Nigeria emerges Africa’s largest economy March 4, 2020 in Business, News Update https://thenationonlineng.net/nigeria-emerges-africas-largest-economy/ Our Reporter As if a recession wasn’t enough bad news for South Africa, it’s now confirmed as the continent’s second-largest economy. The answer to the question of whether South Africa or Nigeria, the two countries that account for almost half of sub-Saharan Africa’s gross domestic product, is the biggest economy on the continent has long depended on which exchange rate you use for the West African nation. But now both the official naira rate of 306 per dollar and the weaker market exchange rate of around 360 that almost all investors use put Nigeria tops. Nigeria’s growth beat forecasts in the fourth quarter, helping its economy to expand the most in four years last year as oil output increased and the central bank took steps to boost credit growth. Read Also: Finance Act will stimulate Nigerian economy — Osinbajo Gross Domestic Product (GDP) in the West African country stood at $476 billion or $402 billion, depending on the rate used. South Africa’s economy went the opposite direction. It slumped into a second recession in consecutive years, contracting more than projected in the fourth quarter as power cuts weighed on output and business confidence. For the full year, expansion was 0.2 per cent, the least since the global financial crisis, and even less than the central bank and government estimated. Based on an average rand-dollar exchange rate of 14.43 for the year, GDP was $352 billion. Projections show the economy will continue to grow faster. While the International Monetary Fund (IMF) cut its forecast for Nigeria’s 2020 growth to two per cent from 2.5per cent last month due to lower oil prices, South Africa’s GDP is forecast to expand only 0.8per cent. 2 Likes |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by BigIyanga: 6:48am On Mar 04, 2020 |
Officialgarri:Confused minion and zombie follower. When it was reported by Bloomberg that Naija was in recession and SA had overtaken us.. you called them audio report and wailers 1 Like 1 Share |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by 9jaRealist: 6:50am On Mar 04, 2020 |
ezenwajosh: Acidosis: Nigeria's economy actually GREW... But of course a RANKING by definition is a relationship to others. > 2 Likes |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by cijero26(m): 6:51am On Mar 04, 2020 |
Who else Has not received February salary from Federal Government |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Nobody: 6:52am On Mar 04, 2020 |
Rossinnki: SOUTH AFRICA ENTERED RECESSION NOT THAT YOUR ECONOMY IMPROVED? ACTUALLY THE PEOPLE LEAVING NIGERIA IS ACTUALLY THE PEOPLE STILL HOLDING YOUR ECONOMY THEY ARE SO LITTLE BUT THEY STILL PUMPING THE BLOOD IN YOUR ECONOMY BECAUSE ONE THING IS CERTAIN FOR SURE A SUDANESE MAN CAN'T RUN A VIABLE GOVERNMENT.... IT HAS NEVER HAPPEN AND CAN NEVER HAPPEN.... |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by 9jaRealist: 6:53am On Mar 04, 2020 |
https://weetracker.com/2019/12/10/nigeria-valuable-brand-africa/ Nigeria Finally Unseats South Africa As The Most Valuable Brand In Africa> 3 Likes 1 Share |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by sucess001(m): 6:55am On Mar 04, 2020 |
Area4Area: Either you don't know shit about the economy or your being mischievous. Nigerian economy was the biggest in Africa under Jonathan and even then its not an achievement. Economy is the interpersons economic activities.... The buying and selling we do forms part of the economy. So if u are rejoicing that the trade 200million people do is more than that done by 55million people, then you are delusional. We shouldn't even be mentioned in the same sentence with south Africa on economic indices if the government is properly stimulating the economy 1 Like 1 Share |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Melison(m): 6:56am On Mar 04, 2020 |
Its not the GDP that matters but per capita income, how does this increase affect the lives of the masses |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by 9jaRealist: 7:00am On Mar 04, 2020 |
sucess001: I was with you until you INCORRECTLY equated GDP to "trading"... Trade is merely one component (less than one-third) of Nigeria's GDP. > 1 Like 1 Share |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by HenryThegreat1(m): 7:02am On Mar 04, 2020 |
Officialgarri:. So u still get mind dey support general buhari |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Jaqenhghar: 7:02am On Mar 04, 2020 |
9jaRealist:Which day una go transit from pain begin gain. Over 50 years una still dey pain...and the pain keeps increasing. Even countries when start after una don dey gain Look at that country critically. In the 50+ years of its existence , apart from ebola eradication and maybe killing of twins, is there one problem you have successfully solved? Ill wait 1 Like |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by ZooOga: 7:02am On Mar 04, 2020 |
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Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by tbensis: 7:03am On Mar 04, 2020 |
This information is very misleading |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by temptnow: 7:05am On Mar 04, 2020 |
Rossinnki: Having plenty population of illiterates almajiri doesn't make a country great. This useless country most break up one day in Jesus name 1 Like |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Tunde835(m): 7:05am On Mar 04, 2020 |
China Has A Gdp of 12.24 Trillion Dollars While Usa Has 19.39 Trillion So I Don See What We Are Talkin About In dis |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by wwwihy: 7:05am On Mar 04, 2020 |
saaron: But the Five States combined could not match Ogun State in all parameters |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Area4Area: 7:06am On Mar 04, 2020 |
nuele:Tell us how much a South Korean would be buying same machine in the his local currency 1 Like |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by 9jaRealist: 7:07am On Mar 04, 2020 |
Jaqenhghar: It's CITIZENS who build countries, not "una" or Vice Versa... Accordingly, instead of looking at "countries", I look at NIGERIANS themselves! > |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by NkemjikaX(m): 7:08am On Mar 04, 2020 |
The question is, with South Africa sliding to second position, healthcare and education are still free. Power supply is constant which is essential for industrialization. However, in Nigeria the sort is different, even a thing as simple as given birth in the hospital requires that the family provide blood before the child will be delivered. Where have we gone wrong. quote author=Officialgarri post=87144836]I thought they said Buhari is a disaster, so where's all these good news coming from. ? We wailers can't stop crying after hearing good news. Another will still join you with "audio economy" even if the source is Bloomberg. [/quote] |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by 9jaRealist: 7:10am On Mar 04, 2020 |
Tunde835: Dangote has billions of dollars, and you have? Dude, virtually everything in life is relative and every journey starts with 1 step! > 3 Likes 1 Share |
Re: Nigeria Now Tops South Africa As The Continent's Biggest Economy by Area4Area: 7:11am On Mar 04, 2020 |
destinie2019:Do you realise that if Buhari continued to give out the dollar reserve to importers at the rate before that within months, Nigeria won't have dollars to import essential goods like medicines, our reserves would've been depleted and we'd have to go to the IMF or world bank to go beg 2 Likes 1 Share |
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