All these Lagosians overhyping Lagos State I tire for una oooo.

Just this morning, someone made a comment on how Lagos State alone could sponsor the whole Nigeria's budget in one of the posts here.
The other day another Lagosian said that Lagos was the state with the largest economy in the entire African continent, I was shocker than Buhari sef because Lagos was not even in the top 5 - Lagos is far below Johannesburg, Cape Town, Cairo etc in terms of GDP alone.

Come back to Nigeria, Lagos made an IGR of ₦398 billion in the whole of last year 2019. That amount of money is not even enough to fund it's own(Lagos) 2019 budget which was set at over half a trillion Naira.

In comparison, Akwa Ibom State alone contributed roughly that amount (₦380 billion) PER MONTH (not per year oooo) to the Nigerian economy in 2019 in the sales of over one hundred and eighty million barrels of crude oil at an average price of 65 dollars per barrel.

If every state were to survive on their resources, you would notice how Lagos would struggle to keep up with even the smallest Niger-Delta state.

The most important state to Nigeria's economy is Akwa Ibom State, followed by Delta, Rivers and Bayelsa States.
These four states alone produce over 93% of Nigeria's oil(Nigeria's primary source of revenue) literally catering for the economy needs of the entire country but when we want to talk about financial muscle, only Lagos State comes to the fore.

AKWA IBOM STATE MAKES LAGOS' YEARLY REVENUE IN A MONTH.

Lagos is overhyped, Akwa Ibom is underrated.

Rolexjerry:
All these Lagosians overhyping Lagos State I tire for una oooo.

Just this morning, someone made a comment on how Lagos State alone could sponsor the whole Nigeria's budget in one of the posts here.
The other day another Lagosian said that Lagos was the state with the largest economy in the entire African continent, I was shocker than Buhari sef because Lagos was not even in the top 5 - Lagos is far below Johannesburg, Cape Town, Cairo etc in terms of GDP alone.

Come back to Nigeria, Lagos made an IGR of ₦398 billion in the whole of last year 2019. That amount of money is not even enough to fund it's own(Lagos) 2019 budget which was set at over half a trillion Naira.

In comparison, Akwa Ibom State alone contributed roughly that amount (₦380 billion) PER MONTH (not per year oooo) to the Nigerian economy in 2019 in the sales of over one hundred and eighty million barrels of crude oil at an average price of 65 dollars per barrel.

If every state were to survive on their resources, you would notice how Lagos would struggle to keep up with even the smallest Niger-Delta state.

The most important state to Nigeria's economy is Akwa Ibom State, followed by Delta, Rivers and Bayelsa States.
These four states alone produce over 93% of Nigeria's oil(Nigeria's primary source of revenue) literally catering for the economy needs of the entire country but when we want to talk about financial muscle, only Lagos State comes to the fore.

AKWA IBOM STATE MAKES LAGOS' YEARLY REVENUE IN A MONTH.

Lagos is overhyped, Akwa Ibom is underrated.

You are comparing IGR with crude sells? That's the most irrelevant comparison so far. How much IGR does Akwa Ibom generate?

rottennaija:


You are comparing IGR with crude sells? That's the most irrelevant comparison so far. How much IGR does Akwa Ibom generate?

The post is about contribution to the states to Federal revenue.

rottennaija:


You are comparing IGR with crude sells? That's the most irrelevant comparison so far. How much IGR does Akwa Ibom generate?

He obviously doesn't even understand his thread.How can crude oil generation in a state be used in talking about IGR?
Most irrelevant comparison as you rightly said.

Rolexjerry:

The post is about contribution to the states to Federal revenue.

Why talk about IGR then?You're confused.

Great piece and God will bless you.. As for people hyping the slum lagos make una fear God ooo.. Lagos is as dry as Seychelles Island but ignorant fools keep hyping it..
No natural resources, no nothing.
Akwa Ibom to me is richer than lagos state.. Let all see what the future will hold for both state..

Lalastclala you the see this lovely thread abi

rottennaija:


You are comparing IGR with crude sells? That's the most irrelevant comparison so far. How much IGR does Akwa Ibom generate?

Read through that article again cos you sound dumb already..

thorpido:
Why talk about IGR then?You're confused.

We are factoring in everything. IGR and contribution to national revenue.

Rolexjerry:

The post is about contribution to the states to Federal revenue.

And yet you compare Lagos IGR to Akwa Ibom contributions to the Federal Government. Smh

Rolexjerry:

We are factoring in everything. IGR and contribution to national revenue.

And yet you didn't talk about Lagos contributions to the Federal government. So what exactly did you factoring? And where is the everything?

Hunchogee:

Read through that article again cos you sound dumb already..

I believe you don't know what dumb is, because you won't say it.

rottennaija:

And yet you compare Lagos IGR to Akwa Ibom contributions to the Federal Government. Smh

Lagos' contribution is from non-oil sources which we all know cannot compare to revenue from petroleum.

Rolexjerry:

Lagos' contribution is from non-oil sources which we all know cannot compare to revenue from petroleum.

Is Lagos not an oil producing state?

rottennaija:


Is Lagos not an oil producing state?

U know the oil producing states. Lagos isn't one of them.

Rolexjerry:

U know the oil producing states. Lagos isn't one of them.

Keep updating yourself

rottennaija:


Keep updating yourself

Trust me. U need that more than I do. Every state has at least a drop of oil but most don't produce in commercial quantities for example, Lagos produces a measly 40000 barrels per day, that's just 1.6 per cent of Nigeria's oil export.
If u ask me 1.6% is an insignificant amount.

rottennaija:


And yet you didn't talk about Lagos contributions to the Federal government. So what exactly did you factoring? And where is the everything?

Lagos' contribution to FG is insignificant when compared to Akwa Ibom's oil-based contribution.
Don't forget that over 80% of Nigeria's economy is funded by crude oil sales and Akwa Ibom is by far the highest producer of crude oil in Nigeria.
What Lagos contributes to FG in a month, Akwa Ibom contributes same in just a day.

rottennaija:


Is Lagos not an oil producing state?

Ha ha ha ha ha.
Is it palm oil or groundnut oil?