The state of the economy will change for good when we address the electricity issue. he go better,

Yes I agree, "WE" are definitely the fastest growing in the world, if the "WE" means that you are politician or somehow connected to thieves in power.

They are in here, shouting "hooray!"

Then, you ask: "what hooray?"

That Nigeria is the 4th fastest growing?

Well,

Patrotism is the last refuge of a scoundrel - Samuel Johnson.



Na by mouth?

Chongaiman:

Mr Sycophant, no one holds the monopoly to insults. Nigeria may be called the giant of Africa bla bla bla yet we all know what obtains in reality. Call a spade a spade. He is still a glorified retailer. When I see him go into iron & steel production, electricity, telecoms and the likes, I would view him as an industrialist de jure.

fortunately, your views don't define what an industrialist is. cement production, sugar plantation and refining, pasta production, farms and real estate qualifies one to be an industrialist.

for your info any industrialist to go into those areas, must study the market very well.
(i) going into steel production without good rail system to transport the heavy output is a no no.
(ii) Without deregulating electricity, any investment in that sector is a gamble. the ball is in the governments court. thats why getting funding for power plants in Nigeria is so difficult. Ask Bath Nnaji for details
(iii) telcoms is taken. GSM licences are through. CDMA is a no go area. Ask Multilinks, Zoom, VGC and co

you may not like Dangote, I also have some issues with his style, but his investments provided direct monthly pay checks for over 10,000 people and indirectly to 100s of thousands. Already other countries are opening their doors to him; Ghana, Zambia, South Africa, senegal, Mozambique etc. All nigeria needs to do is to strengthen institutions that provide oversight functions to whip companies in line. Any company will take advantage of the system to its full advantage (eg general electric tax issues in the US)

Any comment from all the Nigerian critics who say that Nigeria is the worst country on Earth, and Ghana will soon overtake Nigeria to become Africa's major leading economy.

[size=18pt]GOAT OWNERS like nasoeb ARE ANGRY COS THEY ARE OWNERS OF GOATS [/size]

GAR3TH:

Nigeria has been growing since 1999, why are you all surprised. Just proves that many don't even know whats going on in their own country. The main reason for the growth is the private sector in Nigeria and not oil as some people are saying.

while international investor are running to Nigeria to invest you have Brain drain Nigerians going overseas. Then you come on here and say the Lebanese, Indians, Germans etc are in control of almost every business in Nigeria.

Who is the fool, the one that left or the one that came and is making money. Like I always say, Nigeria is the most prosperous place in Africa to start a business, Its a shame many Nigerians are too blind to see it.

Wrong!

The petroleum industry is the main factor behind growth; it provides 95% of foreign exchange earnings and about 80% of budgetary revenues. Agriculture accounts for 25% of the GDP and is the major source of income for two-thirds of our population.

Nigeria's exports were worth 18.45 Billion USD in the fourth quarter of 2010. Exports of commodities (oil and natural gas) is the main factor behind growth and accounts for more than 95% of total exports. Manufacturing, technology, construction etc make very very little impact to the overall GDP figures.

190:

GOAT OWNERS like nasoeb ARE ANGRY COS THEY ARE OWNERS OF GOATS

We know you are dumb, point taken!

Be-e-e-e-e! Goats? Abuna and 190 please leave us out of this or else I will personally horn your abuna 190 times lol!

Who are the people doing this ratings,They just dont sound right to me, How can we be the 4th fastest growing economy in the world with the state of the nation, No Job/Employment,No Good Road,Non Functioal Industries,Low Power/Total Power Outage,No infrastructure, In fact let me ask what are the factors driving this growth, I have to conclude that this government is bribing this people or compromising the process.

I dey laugh well well.

thats a joke of a list- u wanna compare the economic growth (which is non existent) of nigeria to that of Brasil??

list is BS

ITS AMAZING HOW SOME PEOPLE COME HERE TO SHOW TOTAL LACK OF BRAINS AND IMAGINATION

it is no news that nigerias economy has been growing rapidly in the last 10yrs or so especially during the obasanjo years and many reasons can be aduced to this however just because the economy is growing doesnt mean it will immediately translate to employment and aleviation of poverty. there are many more other factors that need to be considered before any meaningful change can be felt by the masses like

good governance
population
infrastructure etc

look at china and india. these countries also have growing economies but with still large population of poor people because of their large population but they are actually way better than nigeria because they havebeen moving in the right direction becuase of good governace and they been doin yhis for years.

we ust have to hope and pray GEJ PROVIDES GOOD LEADERSHIP AND BUILD INFRASTRUCTUE AND FIGHT CRROPTION

So all these idiots coming here and slating our economic growth and comparing it to mosqiutos and goats are actually the goats themselves. learn to fancy your country as theres no other country you can claim

^^^
The doctor wanted to traumatize your arse. He had no way of telling u he hates your gut. 11 injs for malaria. Thank God u didnt go to him with 'staphylococcus'. That would have been the end of you

with BOKO HARAM ,KILLING OF CORPERS , BOMBING IN THE COUNTRY,UNEMPLOYMENT , MISSING OF BILLIONS OF NAIRA?? YET WE R IN THE TOP TEN LIST I WONDER WHERE WE WILL BE WHEN IF WE HAVE ALL THESE

come chop:

The list is missing Ghana why?

We talking about Nigeria, ah!

violent:


Wrong!

The petroleum industry is the main factor behind growth; it provides 95% of foreign exchange earnings and about 80% of budgetary revenues. Agriculture accounts for 25% of the GDP and is the major source of income for two-thirds of our population.

Nigeria's exports were worth 18.45 Billion USD in the fourth quarter of 2010. Exports of commodities (oil and natural gas) is the main factor behind growth and accounts for more than 95% of total exports. Manufacturing, technology, construction etc make very very little impact to the overall GDP figures.

So, is the oil industry not part of the Nigerian economy?

sweet9ja:

So, is the oil industry not part of the Nigerian economy?

Read his post, then read my response, this time, slowly, let's see if you could understand why i said he's wrong.

ironically,if this report was about Ghana being the 4th largest blah blah blah, many ediots on NL would have come here to praise gh to high heavens & insult naija. Now a report favours naija & these same 'goats' r fighting hard to discredit it.
Even if naija becomes a 1st world nation 2moro,some loosers will still come here & cry about impoverishment. China is the worlds no.2 yet about 600milion of her people live below poverty line. Thats 5 times naija size.
Whether naija na top 4 or last 100,i still gonna make my doe here!

After reading many of the comments, it dawned on me that we've lost that old fashion can-do attitude that characterise we Nigerians.
We don't even believe ourselve when we record a major archievent. You see for you to attain greatness you must first believe in yourself.

The Nigerian economy has indeed been groing for some time, it may infact be booming.
I read a couple of years ago that the middle class, that was largely wiped out during the dark years of military dictatorship is gradually groing again.
The report even mention the growth in sale of new cars in Nigeria, electronic goods, etec (another indication of growth).
Maybe it is not happening to you but more ordinary Nigerians can even afford foreign vacations now than 12 years ago.
Look around you, there are new homes everywhere, that have either been built recently or under construction.

I strongly believe in the Nigerian renaissance and you better believe in it too.

Demoladoc:

ITS AMAZING HOW SOME PEOPLE COME HERE TO SHOW TOTAL LACK OF BRAINS AND IMAGINATION

it is no news that nigerias economy has been growing rapidly in the last 10yrs or so especially during the obasanjo years and many reasons can be aduced to this however just because the economy is growing doesnt mean it will immediately translate to employment and aleviation of poverty. there are many more other factors that need to be considered before any meaningful change can be felt by the masses like

good governance
population
infrastructure etc

look at china and india. these countries also have growing economies but with still large population of poor people because of their large population but they are actually way better than nigeria because they havebeen moving in the right direction becuase of good governace and they been doin yhis for years.

we ust have to hope and pray GEJ PROVIDES GOOD LEADERSHIP AND BUILD INFRASTRUCTUE AND FIGHT CRROPTION

So all these idiots coming here and slating our economic growth and comparing it to mosqiutos and goats are actually the goats themselves. learn to fancy your country as theres no other country you can claim

Thanks, please tell them.

It seems some guys on this thread need help with comprehension.

Is growing NOT different from 4th fastest growing?

ola olabiy:

It seems some guys on this thread need help with comprehension.

Is growing NOT different from 4th fastest growing?

No, seem to me you "need" that "help" more than anyone else.

tired of all these Stats, waiting for when we'll start feeling the impact. when their'll be steady electricity, Jobs for Grads, good roads all over, security etc

Just wanted to dispel the wrong notion by one respondent that the oil industry does not create jobs. The oil industry creates jobs and can create huge amount of jobs. The problem with Nigerian oil industry is that it is creating jobs for non-NIgerians. The economy of Angola, Stavanger in Norway, Venezuela, Aberdeen in Scotland, Abu Dhabi etc is based on jobs created by the oil industry. Alberta in Canada will soon join, Houston to some extent is.
We have refused to allow our own people to enjoy the oil industry while focusing on just sharing of oil blocks.

Some of the things we can look into are Oilfiled cement production, Steel pipelines and tubing production, oilfield chemicals and mud production, engineering services etc.

Also, our economic ranking by the world bank is not what we should be chasing but good quality of life for our people and jobs, if we focus on that our ranking will also be good. India is one of the top 20 economies (Nigeria's vision 2020) but if i ask where you want to live between India and Sweden or Finland or Norway, I'm sure we all won't choose India or any of the BRICS above these Nordic/Scandinavian countries.

sweet9ja:

No, seem to me you "need" that "help" more than anyone else.

An Economy that runs on I-better pass my neighbour Generators and fiscal recklessness? This ranking is great!!!They need to recommend the 'Nigerian story' to other economies that want to grow fast.

Is this a Joke? I'm sorry but i don't believed this cos nothing good come out of that place call Nigeria so they should remove this rubish out of here, everything make it to the front page, rubish

Aderupoko2:

An Economy that runs on I-better pass my neighbour Generators and fiscal recklessness? This ranking is great!!!They need to recommend the 'Nigerian story' to other economies that want to grow fast.

ovo4u:

Is this a Joke? I'm sorry but i don't believed this cos nothing good come out of that place call Nigeria so they should remove this rubish out of here, everything make it to the front page, rubish

A child can grow without ''balanced diet'' na but we all understand the kind of growth the child will experience
No problem about the growth the Nigeria Economy is experiencing, we thank God for all of that, but,

Nigeria should be talking of development now as I am tired of this kind of growth.

Joseph Shumpeter said, ''for any economy to develop there must be innovation''

Where is innovation? Where solution to power problem? Where is solution to stagflation?
Where is solution to insecurity? Where is solution to corruption? Where is solution to tribalism? etc

We thank God for GDP. But any one who has proper understanding of GNP is better than GDP.

@Fxtopedia: Thanks for your points.

Suffering and smiling! Deception of the highest order.

ovo4u:

Is this a Joke? I'm sorry but i don't believed this cos[b] nothing good come out of that place call Nigeria[/b] so they should remove this rubish out of here, everything make it to the front page, rubish

I am also sorry to inform you that nothing good come out of your nasty comments ''smh''