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Nairaland Forum / Nairaland / General / Politics / Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 (6013 Views)
Nigeria GDP Expands By 3.11% In Q1 2022 As Oil Production Slumps / Buhari Extends Eased Lockdown By 4 Weeks / World Bank Predicts Sharp Fall In Nigeria’s GDP (2) (3) (4)
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by TimeTraveller: 6:17pm On Nov 19, 2021 |
Bad news for haters. The "how does this benefit the common man" geng. Nigeria will progress and move forward inspite of you. Go kee ya sef. 3 Likes |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by baralatie(m): 6:18pm On Nov 19, 2021 |
Why Are the Factors of Production Important to Economic Growth? By SEAN ROSS Updated July 05, 2021 Reviewed by ROBERT C. KELLY Economic growth only comes from increasing the quality and quantity of the factors of production, which consist of four broad types: land, labor, capital, and entrepreneurship. The factors of production are the resources used in creating or manufacturing a good or service in an economy. |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by Nyanabo(m): 6:21pm On Nov 19, 2021 |
Audio expansion that is not reflecting on the people's lives. When you get wrong data you produce wrong results. |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by Truth234(m): 6:30pm On Nov 19, 2021 |
GboyegaD: Real and nominal growths were actually accounted for but this shouldn't be taken as GROWTH but necessary recovery given COVID-19. Normally, a return to work after lockdown will result in certain growth taken recession into consideration. 1 Like 1 Share |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 6:53pm On Nov 19, 2021 |
MITCHELL96:Damn nigga it’s normal for a county to borrow. The most developed country are the most indebted. The important thing is for your economy to be able to service the debt. Damn. Even companies and banks borrow money to stay afloat. You are not a real nigga my friend. |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by tnerro1(m): 6:57pm On Nov 19, 2021 |
All this lies from NBS, don’t be surprised if the 1st five people that commented are their staff or from BMO |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by FarahAideed: 7:05pm On Nov 19, 2021 |
Buckeyemedia1: So your own state is doing well ? |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by aribisala0(m): 7:06pm On Nov 19, 2021 |
MrMaestro:There was declining growth in oil revenue? |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by aribisala0(m): 7:09pm On Nov 19, 2021 |
alanto: Why invoke Jonathan he is history Oil prices have been fair to Buhari. Much higher than they were under Obasanjo so that should not be an alibi Do you think that our government Debt /Revenue ratio is comfortable or sustainable Is there such a thing as too much debt or is that just scaremongering from haters 1 Like |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 7:20pm On Nov 19, 2021 |
greatiyk4u:I swear. Funny I’ve been seeing it. There’s this book Independent Wealth or something like that. Buhari is playing out many things the guy wrote in the book concerning American economy. He talked about the 60s depression and how they escaped it, then the recession in the 80s and how they escaped it. The same scenario with different approach. Very good book but can’t remember the title or author. After reading usually I move on lol. A president will not get it right a 100. This is why I fear for the next election.. By the time the refinery is ready (the one he paid for the repair) PMB will be getting ready to leave the seat among other things. That’s why his successor must be very important to him. We know Buhari and nepotism from time. 1 Like |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by ogascomax: 7:27pm On Nov 19, 2021 |
Na since this new guy took over the affairs of NBC naim Nigeria GDP start to the go up. No wonder the formal refused to be intimidated. Cooked GDP |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 7:29pm On Nov 19, 2021 |
tnerro1:Lol. I’m one of the first 5 to comment and I can tell you that personally I don’t know any politician and never worked with any. You may like Ronaldo for his outside shots and like Messi for his dribble but if we say the truth we won’t die. Life is not easy all over the world. I know say Australia de gbadun I have people there, but in US maybe CA. The rest of the states are having it hard. There are new Covid strains in US presently, even people that are vaccinated are dying but they still have to go to work knowing they could catch the virus. If na trump be President you for don hear many things but e be like na Democrats get CNN (that’s meant to be funny) Try the quora app, if you search certain topics you wil see Americans lamenting, though their life is better than what we have here. 1 Like |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 7:43pm On Nov 19, 2021 |
aribisala0:Because unlike Buhari I think Jonathan was wasteful and nonchalant. If we already had all what Buhari is building now in terms of infrastructure maybe we will be spending money on other things that will better the citizens. And things are not what they were under OBJ, we have more population with same or less funds. Like I said. If your economy can service your debt you are on the right track but there can never be too much debt. If there’s anything like too much debt we are not there yet. We love to go to America, we talk about the infrastructure, the system but US debt is in trillions of dollars. We are not even anywhere close to that. And US have more oil plus other resources they have Hollywood, matter of fact they have California. And unlike us they are tapping all their resources but look at their debt and look at what they have in place at the debt. They are even indebted to China. Like 17% of the debt is owed to China. You will understand my point. I’m not an economist. I no even sabi book lol. I think I have common sense. I may not be thinking right though. 3 Likes |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by aribisala0(m): 8:01pm On Nov 19, 2021 |
alanto: Buhari is just as wasteful I do not know what infrastructure you are talking about Certainly I do not see any that is making an impact for the common man Jonathan was a disaster and Buhari is no better His Ministers and close associates are wasteful and corrupt On that front there is no difference as far as neutrals like myself are concerned except of course the hypocrisy of Buhari who sold himself as Mr Integrity 2 Likes |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by Kinematics: 8:14pm On Nov 19, 2021 |
Truth234: You mean let's start to celebrate increasing poverty? |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by jomoh: 8:19pm On Nov 19, 2021 |
alanto: Part of the reason GDP is growing is agriculture(rice in particular) and the closure of border has helped the local production of rice. If the border should be opened for rice import we will enjoy it temporarily but will suffer it again in the long run. Let’s just leave it like that. |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by kutashi: 8:37pm On Nov 19, 2021 |
MrMaestro:Awon werey will not celebrate! They will still see wail like never before! Won o wail ku ni! 1 Like |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by kutashi: 8:49pm On Nov 19, 2021 |
Nyanabo:I bet the growth in your life is on audio mode too? When you got your SSCE result (if you have one), did you get job or admission into Higher institution immediately? Or when your papa slept with your mother, they born that day? Patience is the key word and it is password to solving your present situation? Dindunrin! Hope you learn something? 2 Likes |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by odaniel1(m): 8:53pm On Nov 19, 2021 |
Well, i am pleased about the rebound effect. It is worth being joyous for because we could have experienced the usual ineptitude of poor governance. At least, some people somewhere are doing something right. I hope the food inflation we experience too will be reduced. I hope we can see the unemployment/inflation rate decrease drastically. I hope that with time, especially in the next half of next year, these improvements will ripple across the board into other sectors. The naira is gaining massively at an all-time two-year high as we speak. This means there is light at the end of the tunnel.
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Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by sulaak(m): 9:06pm On Nov 19, 2021 |
alanto: It is normal for a country to borrow efficiently. South Korea borrowed billions to build asphalt plants, oil refineries, petrochemical plants and other factories and used the proceeds from those factories to pay off their debts, build infrastructures such as roads and rail and pay for imported steel, bitumen, oil and coal from stupid countries in Africa. Borrowing billions of dollars to pay for consumption, food import, refined oil and rail construction, when you can borrow funds to fix the steel plants, refineries and aluminium smelters thereby increasing the country industrial capacity creating jobs and providing products that can be used in building rails, roads and products. Nigeria has one of the largest bitumen deposits in the world but spends $2 billion a year importing bitumen. 2 Likes 1 Share |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by Mybetpicks: 9:14pm On Nov 19, 2021 |
Economy collapse, come dey recover small small, una dey celebrate as achievement. Inflation never hit una hard. |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by sulaak(m): 9:15pm On Nov 19, 2021 |
alanto: USA debt is in its trillion but it economy is 23 trillion and it productivity capacity has the potential to hit 50 trillion. Please stop comparing apples and oranges. Nigeria export last year was $32 billion, but over the past two years the country has increased its external debt to $40 billion and total public debt is now $87 billion plus the additional $16 billion. This will place tremedous strain our public finance. 1 Like 1 Share |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by MilkANDpepper: 9:34pm On Nov 19, 2021 |
Dear @Moony45, sadly your type are just so few and will always be doubted. Some of us are privileged to know certain things but who will believe it. You don't need to suspect, it is the TRUTH Moony45: 1 Like |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by BluntTheApostle(m): 9:46pm On Nov 19, 2021 |
sulaak: Efficiently is just a word. You can interprete it based on the situation that demands that money be borrowed. One reason why government borrows is to service existing loans. You may consider this inefficient, but it is efficient for dealing with the situation that demands that money be borrowed. Irresponsible borrowing is what should not be tolerated. South Korea borrowed billions to build asphalt plants, oil refineries, petrochemical plants and other factories and used the proceeds from those factories to pay off their debts, build infrastructures such as roads and rail and pay for imported steel, bitumen, oil and coal from stupid countries in Africa. This is another reason why government borrow. To fund big projects. It is all dependent on the situation the country finds itself. If Nigeria borrows to service loans, it is just as efficient as South Korea borrowing to fund projects. Borrowing billions of dollars to pay for consumption, food import, refined oil and rail construction, when you can borrow funds to fix the steel plants, refineries and aluminium smelters thereby increasing the country industrial capacity creating jobs and providing products that can be used in building rails, roads and products. The PH refinery rehabilitation is within reach, although the government wants to rehabilitate it with part of a loan, and not all of the loan. You may read more about the PH refinery rehabilitation. The irony of it all is that it is fellow Nigerians like you who are busy attacking Buhari when he proposed to fix the refineries. They believe fixing the refinery would be a waste of time and resources. The media is largely of this view that the refineries should not be fixed with loans. Nigeria has one of the largest bitumen deposits in the world but spends $2 billion a year importing bitumen. Exploitation of Nigeria's bitumen is already within reach. 1 Like |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 9:54pm On Nov 19, 2021 |
X 1 Like |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 9:55pm On Nov 19, 2021 |
sulaak: Sir are we not saying the same thing? But how so we get out of the shithole that we already are in? It’s by diversifying the economy. By building more infrastructure so we can employ more people and also entice investors because there are many able hands that are idle, giving those women small small money so they can put it back in the economy. It all count. Because we don’t export much and oil doesn’t fetch much that is why we need more money to help. You can’t give what you don’t have. US budget is in trillions that’s why their debt is in trillions. The only problem I have with loan is if it’s looted. Other than that it’s welcome. You rightly said we exported $32b last year ok so how do we improve that? We expand? But how we expand? We source money to invest. Listen sir everything we have spent money on will yield result but not overnight, that’s business. Most people in Nigeria right now will be okay if they have access to loans. Enough loan to run a business. I’m not an economist my submission may not be perfect. |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 10:01pm On Nov 19, 2021 |
sulaak:I swear we are saying the same thing. Remember this government paid for a refinery? This government is also building roads, rails and everything you have said. Which is what the loans are tied to. All these are in the open space. We all read it on nairaland if nowhere else. Now how can he do more if you won’t let him borrow. If Buhari Na person wey de listen him for no see money do anything at all. I like that he’s focused. My problem is his successor. Mark my word today. If Tinubu succeeds Buhari some people are going to come out to say everything hes gallivanting with Buhari built them the same Buhari they never agree is working now. 2 Likes |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 10:07pm On Nov 19, 2021 |
jomoh:I agree with you. Change indeed is very slow. 1 Like |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by alanto: 10:09pm On Nov 19, 2021 |
aribisala0:Ok sir |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by pquaver(m): 11:40pm On Nov 19, 2021 |
Trumann: Mehn Bro you gat no chills. Bro.. You are ice cold �� |
Re: Nigeria’s GDP Expands By 4.03 Percent In Q3 2021 by igbesachick: 12:45am On Nov 20, 2021 |
Truth234: india has 20% what .? that prediction was released before april outbreak in india. and india suffered 37% negative growth in 2020, adding your 20%, still 30% 17% negative. dont put india and china in one sentence . that is insult to chInA |
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