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.

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.

Audio expansion that is not reflecting on the people's lives.

When you get wrong data you produce wrong results.

GboyegaD:
Who are we trying to impress? Nominal growth without discounting for inflation in a country that has experienced over 10% in inflation growth in the last one year. It is alright with the lies.

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.

MITCHELL96:



Manage what ? Don't let me headbutt you oo

If he's managing, while is he borrowing billions here and there ? is that one managing ?

Nna ehnnn!

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.

All this lies from NBS, don’t be surprised if the 1st five people that commented are their staff or from BMO

Buckeyemedia1:
Which state are you in Eastern Nigeria, you must be speaking from a reflection of your environment?

So your own state is doing well ?

MrMaestro:
GDP continues to grow despite declining growth in oil revenue. Financial institutions, Agriculture, Manufacturing, and Telecoms are driving the non-oil growth. Don’t look now but Nigeria is modernizing away from oil. Let’s start to celebrate what we’ve all been asking for!!!

There was declining growth in oil revenue?

alanto:
Buhari you are trying. I commend you. I wonder if Jonathan could manage without oil money.

Who else notice food stuff price is going down. Garri is now 500 in my area it was 700 a couple days ago. Bean sef. But e be like rice and gas wan stubborn.

Buhari should open border most things they import into this country are expensive, I know the dollar effect is there too.
Fish, Turkey still expensive and bread too.

Damn nigga it’s normal for a country to borrow. The most developed countries 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.
Go and ask dangote, otedola and the rest of them I can bet my balls your Governor is borrowing.


E shock you?

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

greatiyk4u:
I have always know that Nigerians will be shocked when they start seeing the impact of Buharis 6years foundation works on building a better Nigeria

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.

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

tnerro1:
All this lies from NBS, don’t be surprised if the 1st five people that commented are their staff or from BMO

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.

aribisala0:


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

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.

alanto:

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.

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

Truth234:
The non-oil sector is the powerhouse of the Nigerian economy. However, this growth is a rebound from COVID-19 pandemic and when compared to other nations like India and China that posted 20.1 percent and 18.3 percent earlier this year respectively, this just showed the nation has a lot of gaps and that growth is not broad-based.

You mean let's start to celebrate increasing poverty?

alanto:
Buhari you are trying. I commend you. I wonder if Jonathan could manage without oil money.

Who else notice food stuff price is going down. Garri is now 500 in my area it was 700 a couple days ago. Bean sef. But e be like rice and gas wan stubborn.

Buhari should open border most things they import into this country are expensive, I know the dollar effect is there too.
Fish, Turkey still expensive and bread too.

Damn nigga it’s normal for a country to borrow. The most developed countries 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.
Go and ask dangote, otedola and the rest of them I can bet my balls your Governor is borrowing.


E shock you?

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.

MrMaestro:
GDP continues to grow despite declining growth in oil revenue. Financial institutions, Agriculture, Manufacturing, and Telecoms are driving the non-oil growth. Don’t look now but Nigeria is modernizing away from oil. Let’s start to celebrate what we’ve all been asking for!!!

Awon werey will not celebrate! They will still see wail like never before! Won o wail ku ni!

Nyanabo:
Audio expansion that is not reflecting on the people's lives.

When you get wrong data you produce wrong results.

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?

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.

alanto:
Buhari you are trying. I commend you. I wonder if Jonathan could manage without oil money.

Who else notice food stuff price is going down. Garri is now 500 in my area it was 700 a couple days ago. Bean sef. But e be like rice and gas wan stubborn.

Buhari should open border most things they import into this country are expensive, I know the dollar effect is there too.
Fish, Turkey still expensive and bread too.

Damn nigga it’s normal for a country to borrow. The most developed countries 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.
Go and ask dangote, otedola and the rest of them I can bet my balls your Governor is borrowing.


E shock you?

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.

Economy collapse, come dey recover small small, una dey celebrate as achievement. Inflation never hit una hard.

alanto:

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.

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.

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:
Am beginning to suspect that FG is influencing Bureau of Statistics

sulaak:


It is normal for a country to borrow efficiently.

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.

X

sulaak:


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.

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.

sulaak:


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.

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.

jomoh:



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.

I agree with you.
Change indeed is very slow.

aribisala0:


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

Ok sir

Trumann:


Leave South East and come out to other regions, you will swear for Kanu. Other regions are developing at slow but steady paces, you people are body burning down Igboland.
Keep asking how and where like a stranded hawker . Your eyes will soon clear.

Mehn Bro you gat no chills. Bro.. You are ice cold ��

Truth234:
The non-oil sector is the powerhouse of the Nigerian economy. However, this growth is a rebound from COVID-19 pandemic and when compared to other nations like India and China that posted 20.1 percent and 18.3 percent earlier this year respectively, this just showed the nation has a lot of gaps and that growth is not broad-based.

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