IMF.... that was rejected in some country s Nigeria embraced

I see the hand writing on the wall.

All these ‘on paper growth’ that doesn’t reflect in the lives of the average Nigerian

OLDESTWARRIBOY:


Egg is now 80naira

Where are you? lol, it's 30naira in northwestern & northeastern Nigeria. lols
Shey deputy senate President is from Ur side, e go reach Ur side soon. lol.

NOC1:


I belief they saw some indices and realities on ground before they came up with this projection against there former.

Try to be positive for ones

how will his positivity affect d inflation in nigeria?

blackboy2star:
I hope and pray it reflects in real live

Aamin!

timesup234:
Nigerian economy is the best in the world..in 15yrs time the Nigeria economy will surpass that of Canada where most brainwashed Nigerians are running to. By 2050 Nigeria will become the 8th largest economy in the world bigger than all European countries except the United kingdom. Most Nigerians don't know what is happening while busy shouting buhari is killing us. They are actually living in the best country in the world

You have sense

Nigeria economy will continue to grow bigger and bigger. The main thing now is how to spread the wealth

this is good news

We all know how IMF operates. Any country that does IMF bidding will get figures in return as a favour but in reality the country will keep experiencing economic downslide.

Fear IMF

[quote author=Nackdemall post=106733310][/quote]

2.6% is nothing to write home about.

From 1999 - 2013, the economy grew on average 6% yearly. With population growing at 2.5% yearly, that means there was a real increase in per capita income by 3.5% yearly.

Under Buhari, It has barely grown 1% on average a year which is -1.5% in real terms in terms of per capita income. That means Nigerians are getting poorer.

Why is that so? The foundation of Buhari's economic policy his horrible forex policies which create distortions in the economy and artificial demand and roundtripping. As his VP said recently, their is a need to rethink the foreign exchange policy. As long as the exchange rate is not market determined and the hatred of devaluation exists, the economy will continue to suffer Buhari's direction.

Honesty does not equate to competence. Which is better- a maths teacher who is a drunkard that teaches 1 + 1 = 2 or an honest and incorruptible man who teaches 1 + 1= 3 and he is obstinate that he is correct?

I am sad to say but his party members call him an illiterate behind his back. This isn't APC vs PDP. It is strictly about Buhari's incompetence.

CocoaOla:
Inflation rate in the United States.

From 2019 -2024

2024*2.24%

2023*2.23%

2022*2.23%

2021*2.27%


2020*2.73%

2019*2%

2018 2.44%

* inflation rate for a stable economy is usually at 2%


I can buy a brand new car in southern Africa for 90,000 thousand rands

Minimum wages in Nigeria is 30k

Don't be fooled the growth is minus minus -5% plus +2.6%

Nigeria's economic growth in real terms is economic growth versus population growth rate. Nigeria's population growth rate is 2.5%

So, 2.6% -2.5% and you have 0.1% which is scandalously low.

OLDESTWARRIBOY:
So how does all these percentage and figures affect us...

Egg is now 80naira, I nearly faint this morning. January it was 50 naira

Let me tell u, food inflation is a sign of prosperity to many businesses.
''In 2020, Nigeria's GDP amounted to 152,32 trillion Naira, over 500 billion U.S.dollars. About 24 percent of Gross Domestic Product was generated by the agricultural sector. The largest contribution was given by crop productions, which generated 21.8 percent of the country's GDP in 2020.

Agriculture contributes to a significant part of the country's GDP. It is a key activity for Nigeria's economy after oil. Nevertheless, agricultural activities provide livelihood for many Nigerians, whereas the wealth generated by oil reaches a restricted share of people.''
Also, ''the agricultural sector remains the largest employer in Nigeria, employing more than 36% of the labour force''.