Area4Area:
You won't see wailers in threads like this, people who wake up and wishing evil on their country as if if anything bad happens, they won't be affected.

Nigeria went into a recession years back,
Naira was on a free fall etc and they were all happy

Fast forward and the reverse became the case and they became angry.

South Africa entered another recession and they were wishing it was Nigeria that was mentioned.

Wetin de do u for sense dey special

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Commentor:


Nigeria’s economic growth beat forecasts in the fourth quarter, helping its economy to expand the most in four years in 2019 as oil output increased and the central bank took steps to boost credit growth. GDP in the West African country stood at $476 billion or $402 billion, depending on the rate used.

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OgunLaakaye:


And the chest beating starts...

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[s]

Commentor:


From Bloomberg in 2014:

The revision may boost the size of the economy by as much as 60 percent to between $384 billion and $424 billion, according to London-based Renaissance Capital Ltd., lifting Nigeria ahead of South Africa in the World Bank’s global rankings.

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Commentor:


There is nothing to explain.

You threw out numbers without a source.

In my case, I've provided the same source over a time lapse of 6 years.

I'll stick with it rather than yours.

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Rossinnki:


As in any situation of competition, the standards are improving and will continue to improve. Some local rice brands now have a good reputation for quality.

YOU can start a small rice processing factory to help improve quality. Why moan and point fingers instead?

After all, INNOSON started by selling spare parts, to become the world's 1st and biggest black-owned vehicle manufacturer.

Why do u only talk nonsense in this forum?

yommen:


All of you will just argue over figures that have no impact on the lives of ordinary Nigerians. Ok, how has that impacted Nigerians positively? Are there more jobs? Are you now paying less for more? Do your children now have free access to standard education, health, security of your lives and property? By the way, how prepared are you to fight terrorists calling themselves cattle breeders? Wake up and stop defending a failed Buhari.

Countries around the world go through recessions at different points and you and I know that not all South Africans are living the good life.

Do you expect us to get there when we having negative or positive growth? If SA continues with its negative growth, it would definitely become another Zimbabwe

MansoryMX:


South Africa as an economy in recession is far far better than Nigeria. You people should have some shame in this dead country. Our zero % in terms of security and 1000% in corruption is more than enough to put us at last position when comparing countries with standards in Africa.

South African spotted seems you have infiltrated this forum we are watching you

Rossinnki:


There was more to it than that. Significant movement in the Nigerian economy occurred. The Bloomberg report said:

Did ur God buhari increase the oil output?

MansoryMX:


South Africa as an economy in recession is far far better than Nigeria. You people should have some shame in this dead country. Our zero % in terms of security and 1000% in corruption is more than enough to put us at last position when comparing countries with standards in Africa.

Common Boss!

Let's celebrate this good news.

There is much hope for Nigeria you knowoo!

Cheer up.

Rossinnki:


Mehn, but we carry weight for this continent sha..

Dammit.

In fact, looking at the above statement, one might as well say that without Nigeria, there is nothing like Africa.

Yet some idiots want to split up this country into little, inconsequential Liberias. When you sneeze nobody will notice.

Rubbish.

The division of Nigeria is certain.

Only a turn around to switch back to regional govt and resource control would save Nigeria.

[s]

Commentor:


You know better than Bloomberg.

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Commentor:
By Prinesha Naidoo


https://www.bloomberg.com/news/articles/2020-03-03/nigeria-now-tops-south-africa-as-the-continent-s-biggest-economy

In the land of the blind, the one eyed man is king


As if the 1st position will reduce the poor man's suffering

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Commentor:


You appear hungry.

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Rossinnki:


Mehn, but we carry weight for this continent sha..

Dammit.

In fact, looking at the above statement, one might as well say that without Nigeria, there is nothing like Africa.

Yet some idiots want to split up this country into little, inconsequential Liberias. When you sneeze nobody will notice.

Rubbish.

what are u saying?when u have no clue about economy this is d result, make research south Africa economy just slide into recession, before coming online to display ur ignorance

nuele:
You guys are being misled, Nigeria cost of production per goods is very high, poor electricity and unfavorable business climate... Tell me how it's nominal GDP will be high, more still, the rate of import is astronomical....

Where the hell are you guys getting the big economy from, is it MTN or Glo, communication industry that is even eating from the per capital income.

Ever heard of media manipulation by government?

The entry of conspiracy theorists...

There are DIFFERENT numbers for nominal GDP and for real GDP, but this is about REAL GDP figures...
GDP is the total value of all goods and services, and thus one person's "costs" is another person's "income"!

Nigerian GDP is not calculated any differently...
In fact, given Nigeria's LARGE informal sector, it is almost certain that our GDP is being UNDER-counted.
>

Chinex2215:
South Africa slumped to its second recession in two years


That is the reason, why we topped not that we suddenly had the best economy. Lets stop celebrating mediocrity.

Did you read the text, it said Nigeria's economy grew and expanded while that of South Africa contracted or reduced, nobody is talking of best economy here

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Commentor:


One of the signs of hunger in a human being is being incoherent apart from always being angry.

My friend, you are incoherent.

Starting sentences with lower cased letters. Babbling in general.

Make sure you get ewa agoyin in the morning otherwise....

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Nothing to celebrate here if south African economy is what u use to rate our economy ,for ur own information south African economy just slide into recession, u will not make research, una go just come online dey spew nonsense.

9jaRealist:


It "determines" FG's expenditure to a large extent (not 100%), but NOT the GDP...
In fact, in some quarters, the oil sector has even declined while the overall GDP grew.
>

As far as Nigeria and other countries heavily dependent on oil is concerned, when price of oil goes up, GDP growth and size goes up, price comes down and it drags others down too

Big for Nothing

Area4Area:
You won't see wailers in threads like this, people who wake up and wishing evil on their country as if if anything bad happens, they won't be affected.

Nigeria went into a recession years back,
Naira was on a free fall etc and they were all happy

Fast forward and the reverse became the case and they became angry.

South Africa entered another recession and they were wishing it was Nigeria that was mentioned.

Nigeria has been the largest economy in Africa before buhari became prrsident, I remember a while ago when the Nigerian economy was rebased or something like DAT then minister of finance okonjo iweala announced that Nigeria was the largest economy in africa, this is not a buhari achievement please by guided

Area4Area:
SA is in recession and not Nigeria is the news so stop hating

It doesnt make any difference to me. I dont depend on SA for my survival. I do t live there.

Officialgarri:
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.

In movie "3-idiots" the fart silencer guy proposed two methods for achieving best grade over his mates;
- you Either increase your performance inputs and efforts at reading and diligence.

-or you decrease your competitor's performance so you stay above them.

Nigeria economy didn't improve to stay as best in africa, South Africa economy became worse. That's how Nigeria came tops, so it has nothing to do with Nigerians or Buhari performance.

The effects of SA Xenophobic attitude is just coming to glare and its going to get worse for them. They were literally against ALL foreigners not Nigerians alone. Stupid people!

MansoryMX:


South Africa as an economy in recession is far far better than Nigeria. You people should have some shame in this dead country. Our zero % in terms of security and 1000% in corruption is more than enough to put us at last position when comparing countries with standards in Africa.

learn to read and comprehend or better still go back to ur prim/secndry/uni school and ask for a refund of ur school fees.

what a useless joke

MondayOsunbor:

OGA NIGERIA IS NOT A COUNTRY BUT AN ENTERPRISE AND STRUCTURED IN A WAY THAT IT WILL NOT MAKE AN MEANINGFUL PROGRESS


AS SOON AS YOU UNDERSTAND THIS THE BETTER FOR YOUR LIFE AND YOUR CHILDREN

keep swallowing what hateful animals told you. I and my children are far better off. Nigeria is a great country despite the challenges. Every country has its challenges

South Africa hates Nigeria and they spark xenophobia. Many Nigerians left and now there is Recessionophobia��

nameo:


Do you know that this is nothing to celebrate here, and infact that this indicts this Govt??

Clue: In 2014, Nigeria became the largest economy in Africa and valued at $509.9bn whilst South Africa was $370.3bn.

Today, Nigerian economy has according to your report in the OP declined to $472/402bn i.e a decline of about $38bn( it would even be more if you take into account inflation rate between then and now).

The only reason SA overtook us was that our growth since then has been very sluggish with us entering into a recession(successive "negative" growth). The reason why you just overtook SA again is that they just entered their 2nd recession within the period.

In real terms, none of the countries grew.

So quit that Buhari worship. On the economy, as with almost everything else, he has failed.

I wish I could like this post 100 times.

Rossinnki:


Mehn, but we carry weight for this continent sha..

Dammit.

In fact, looking at the above statement, one might as well say that without Nigeria, there is nothing like Africa.

Yet some idiots want to split up this country into little, inconsequential Liberias. When you sneeze nobody will notice.

Rubbish.

Remove dangote ...

And tell me what you have

Rossinnki:


Mehn, but we carry weight for this continent sha..

Dammit.

In fact, looking at the above statement, one might as well say that without Nigeria, there is nothing like Africa.

Yet some idiots want to split up this country into little, inconsequential Liberias. When you sneeze nobody will notice.

Rubbish.

How has the 'big' consequential country benefited you as an individual?

Cchuks27:
This does not even make any sense. Considering the resources, Nigeria shouldn't even be dragging with south Africa. While the report might be true, however, does it really capture the reality in the country? Currently, Nigeria is saddled with terrorism, banditry, unemployment, etc.
In essence, Nigeria is facing way too many challenges which have negatively affected the development of the country. We should normally be miles ahead of South Africa.

I will take it that you have so little knowledge about South Africa!

South Africa has a 100 years head start over Nigeria. She has a very developed mining industry which was developed by the British in the early 19th century, bigger landmass, well-developed manufacturing sectors for over 100 years. So, how is Nigeria richer than South Africa?

Nigerians are living in fool paradise, unaware of the enormous task they need to carry out to position their country on the part of growth. Filled with an entitlement mentality that they don't plan, work hard enough, pay tax, want all the subsidy in this world and wail endlessly when things are not going well.

The line of thinking that 2million barrel of crude oil will automatically turn Nigeria into a powerhouse is laughable