dragunov:


While naira to dollar is 550. People are languishing in squalor. Inflation is out of this world. Continue the lying.

AlhajiBitcoin:

The Topic is pure deceit.

The growth rate last year was -6.1% in 2nd quarter 2020. And this negative growth rate improved by 5.01% in 2nd quarter, 2021.

Here is the calculation ( -6.1 + 5.01 ) = -1.09%

The actual GDP growth rate for APRIL, MAY, JUNE, 2021 is = -1.09 %

Nigeria is in recession.

Ovamboland:


Ghana cedi is 6cedi to $1, Japanese yen is 110 to a $, does that mean Ghana is more advanced than Japan and richer?

You obviously have a pedestrian or market woman understanding of currency exchange rates and the drivers.

thebosstrevor1:
Upon all the abuses by wailers who are members of pdp, IPob and odua nation.

Buhari is not perfect but he is doing something

“The Q2 2021 growth rate was higher than the -6.10% growth rate recorded in Q2 2020 and the 0.51% recorded in Q1 2021 year on year, indicating the return of business and economic activity near levels seen prior to the nationwide implementation of COVID-19 related restrictions.

"GDP performance of Nigeria’s Presidents since 1999

Olusegun Obasanjo, 1999-2007 ( 6.95%)

According to data from Nairalytics, under Olusegun Obasanjo, Nigeria’s first democratically elected president since the return to democracy in 1999, the economy grew by just 0.58% in his first year of presidency. Its highest rate of 15.33% was achieved in 2002. In his final year as president (2007), GDP growth was 6.59%. Obasanjo’s presidency averaged a GDP growth rate of 6.95% during his 8 years in office.

Under Obasanjo’s presidency, Nigeria experienced private sector reforms in telecoms, banking, and pension administration. His government also laid the foundation for other market reforms carried out by subsequent Nigerian presidents.

Umaru Musa Yar’Adua, 2008-2010 (7.98%)

The late Yar’Adua’s presidency witnessed a period of the large commodities boom, the 2008 financial market crash which left Nigeria largely unharmed, and a reversal of the sale of NNPC refineries, due to lack of transparency in the process.

Economic growth in 2008 was 6.76%. In 2010, it hit a peak of 9.13%, averaging 7.98% for Yar’Adua’s short time in office.



Goodluck Ebele Jonathan, 2011-2015 (4.80%)

GEJ took over as president after the death of his predecessor in 2010 and was later elected President in 2011. His presidency saw the rollout of reforms including fuel deregulation which was hit by the “#OccupyNigeria” protests, and also the successful implementation of the first phase of Nigeria’s reforms, which saw the deregulation of Distribution and Generation of PHCN assets into the GenCos and DisCos of today (transmission is still in the hands of the Transmission Company of Nigeria, which distributes the power to DisCos nationally).

Jonathan’s 2011 presidential year saw economic growth at 5.31%. The highest growth rate was 6.22% recorded in 2014. Nigeria’s GDP growth averaged 4.80% under his leadership, from 2011 to 2015."

Muhammadu Buhari, 2016-2020 (0.31%)

"Buhari’s administration historically signified the transfer of leadership to an opposition party in Nigeria’s democratic history, an election where promises to diversify the economy from crude oil were made, alongside others.

For several reasons, the administration has fallen short of its promises although it has scored fairly good points in social welfare schemes executed under the National Social Investment Programme (NSIP). Notable among these programs are the National Home-Grown School Feeding Programme (NHGSFP); N-Power program aimed at creating jobs for 1 million beneficiaries; GEEP programme to provide loans to an additional 1 million traders, farmers and market people; and the Social Register, to accommodate an additional 1 million households. Others include the TRADERMONI, MARKETMONI, FARMERMONI, MSME Survival Fund, and N75 billion National Youth Investment Fund (NYIF).

Under the Buhari administration, the economy has experienced rising food inflation and currency inflation which have seen Nigeria’s GDP per capita fall to the level it was 40 years ago.

His 2016 presidential year experienced a decline of -1.58%. The highest growth thus far is 2.27% recorded in 2019. Although his administration ends in 2023, from his arrival in 2016 to 2020, GDP growth under his leadership averaged 0.31%."

endsarrrs:
Hehe... Growth without any significant impact/development?!

Isn't this deceit? Like they say, you can't give what you don't have

Damnn to the leadership of 'one NIGERIA'

Ovamboland:


In a recession, one sure way of getting out of it is to spend heavily to restart activities and prevent further contraction of activities in the economy.
The funds must come from somewhere, either raising taxes or taking on debt. Raising taxes has its own problem in an economy with good tax system with wide net. Maybe less impact on spending power in a low tax system like in Nigeria with good scope for widened net.

It will be counterproductive to cut spending and investment in an economy seeing recession. The strategy to take on debt considering the difficulty and unpredictability of wider tax net.

But tax must be collected in the long term to guarantee repayment or servicing of the loans taken.

FarahAideed:
What a huge lie ...5 percent from where ? What activities generated this phantom growth ? It's sad to see the NBS is now being forced to reel out fake statistics .... What did we export and what investments did we receive that warranted this growth?

Inflation levels are at an all time high , the Naira lost so much Value in this same quarter , Buhari borrowed more in the same quarter , insecurity reached an all time high in this same quarter , doctors went on strike in this same quarter but yet the NBS is reporting 5 percent growth.

Rossinkipp:


Oh SHUT UP.

You are NOT an economist, an economic analyst, a macro economist.

SO SHUT UP.

''Insecurity'', and the ''naira losing value'' etc aetc are all LAYMEN arguments that mean absolutley NOTHING measuring economic growth.

Take your hatred for Nigeria and get lost.

I wonder why you come to this NIGERIAN site every single day, when you hate the country. Just get lost. Go and join Ghana site or USA site.

Rossinkipp:


Oh SHUT UP.

You are NOT an economist, an economic analyst, a macro economist.

SO SHUT UP.

''Insecurity'', and the ''naira losing value'' etc aetc are all LAYMEN arguments that mean absolutley NOTHING measuring economic growth.

Take your hatred for Nigeria and get lost.

I wonder why you come to this NIGERIAN site every single day, when you hate the country. Just get lost. Go and join Ghana site or USA site.

Rossinkipp:


Oh SHUT UP.

You are NOT an economist, an economic analyst, a macro economist.

SO SHUT UP.

''Insecurity'', and the ''naira losing value'' etc aetc are all LAYMEN arguments that mean absolutley NOTHING measuring economic growth.

Take your hatred for Nigeria and get lost.

I wonder why you come to this NIGERIAN site every single day, when you hate the country. Just get lost. Go and join Ghana site or USA site.

FarahAideed:


Bleep off ..I am a trained accountant and Economist ...well we are already done with with this data and proven how wrong it is ...the growth is still in the negative so stop decieving yourself...I don't hate Nigeria for your information , I hate the way Buhari is running the country

FarahAideed:


Bleep off ..I am a trained accountant and Economist ...well we are already done with with this data and proven how wrong it is ...the growth is still in the negative so stop deceiving yourself...I don't hate Nigeria for your information , I hate the way Buhari is running the country

AlhajiBitcoin:

The Topic is pure deceit.

The growth rate last year was -6.1% in 2nd quarter 2020. And this negative growth rate improved by 5.01% in 2nd quarter, 2021.

Here is the calculation ( -6.1 + 5.01 ) = -1.09%

The actual GDP growth rate for APRIL, MAY, JUNE, 2021 is = -1.09 %

Nigeria is in recession.

huptin:


So borrowing heavily is your own way out of recession? How will the loans be repaid? Both internal and external? Did Obasanjo borrow before taking Nigeria from the verge of deep recession to unprecedented economic prosperity within a short period of time? Rather than focus on Foreign Direct Investment you are saying that it doesn't matter where the money comes from, in your personal life can you do that?

Ovamboland:


Nigeria has never defaulted in her loan repayment and if infrastructure is needed to diversify and jump start the economy it must be financed.
We can't keep insisting on the model that ensure Ajaokuta steel is not complete after 40 years of sinking money or it took 33 years to complete the strategic Itakpe Warri rail.

The model that delivered Lagos Ibadan rail in 4 years has my support any day. Imagine we financed the rail 30 years ago instead of making our forex available for private jet imports, we won't be here today.

huptin:


So borrowing heavily is your own way out of recession? How will the loans be repaid? Both internal and external? Did Obasanjo borrow before taking Nigeria from the verge of deep recession to unprecedented economic prosperity within a short period of time? Rather than focus on Foreign Direct Investment you are saying that it doesn't matter where the money comes from, in your personal life can you do that?

huptin:


How much did Nigeria borrow to build the telecoms industry? If Nigeria had borrowed to fix NITEL rather than bring in the massive investment how would NITEL be faring today?

The Ajaokuta steel you mentioned despite all the loans how has it fared? You talk about the railways as if it started 4 years ago, NO it has been on since 2006, it just so happened that it was completed recently but even that how much money is it bringing? Can the money being made pay back the loan? Only lazy minds believe that borrowing is the only way to grow an economy?

How many countries have borrowed their way to prosperity?