Tianamen1:
Nairalanda1
This is why I always tell you that taxation must be focused on the rich.

5 percent of the population is about 10 million people.

500 thousand naira is about $300.

How much do you think you can get from 190 million people who have less than $300 saved in their accounts?

Our GDP is about $450 billion. There is money in Nigeria.

Our gdp will be around the 150-200b range with the current devaluation. It might be even lower.

Even if you have don't leave it in the Bank. INVEST, TURN UP and RE-INVEST AGAIN.

Im not among them at all.

Thissystem:

https://nairametrics.com/2024/02/24/only-about-5-of-nigerians-have-over-n500000-in-their-bank-accounts-wale-edun/?amp=1

You have to be a special kind of dunce to save real money in a worthless currency like the Naira an in useless and fraudulent Nigerian banks.

Why the hell would I do that?

I dey get pass that but my own no dey last for long inside

I even spread it these days with opay and d rest

Indication of abject poverty caused by APC greed

INTEGRITYA1:
Not true, even here on Nairaland so many legit hustlers will just be laughing with this report.

How much is 500k that people will not have in their accounts. Instead of leaving the money inside bank account doing nothing, smart people will rather put it in fixed deposit or some other interest generated investments for short period or long in order to earn interest.

I don't say everybody have that but far more than the 5% ridiculous report.

That's the reason for the emphasis "bank account" or "savings account."

If you have to put all your life savings in an investment plan, then you're not 'all that' financially.

The other side of it is that only a few Nigerians care about investment anyways. Piggyvest is one of the most used investment apps in Nigeria and as of today, the app has just 1 million downloads in a country of 200m people. Out of the 1m, how many are actual investors?

As a matter of fact, the average loan app in Nigeria has more downloads than Piggyvest. To clear your doubts, go check play store o. Fairmoney has 10m downloads on Playstore!

Iffahear say more than 5% of Nigerians have more than 500k in their account. Mind you, at least 30% of Nigeria's 200m population are students. More than 20% are unemployed. Over 10% are retired and broke.

You only need to move close to Nigerians to understand the dire situation. People don't have cash to spend.. They may have cooperative savings (for the purpose of obtaining loans), ajo, or esusu (contributions for business), but none of that can be regarded as actual savings.

Thanks to God that I'm amongst the 5% o.

I can't thank you enough father.

Where did he even get this statistics anyway?

nedekid:

Where else do you keep a paltry sum?

Correction!

It is not the sum that is paltry but the interest is will generate when kept with the banks and it's usually <3% per annum.


Where to keep it?
You invest it of course.

adamusuleiman2:

Zero proof to your statement.

The proof we have says otherwise.

LIES. Where did you see this fake report?

matify83:


Correction!

It is not the sum that is paltry but the interest is will generate when kept with the banks and it's usually <3% per annum.


Where to keep it?
You invest it of course.

I understand you. But 500k is not much, to in the first instance consider seeking interest from the bank, besides what do you want to invest in with 500k? That is rather pocket change in this current inflation hit economy.

It's ok .. 😂

believe the rubbish statistics at your peril!

How about those who dont save in there banks🤣🤣

Liammm:
So only 10 millions Nigerians have more than 500k in their bank accounts. Mehn this is multi dimensional poverty orchestrated by the ineffectual buffon in aso rock

Bank account balance is not a true measure of wealth.

Now that our money has lost value, everybody dey feel the pinch. That 500k is little or nothing.

nedekid:

Our gdp will be around the 150-200b range with the current devaluation. It might be even lower.

thanks for correcting that fellow. Most have not paid attention to the negative impacts of all this tomfoolery by the APC govts. Our GDP was around $500b, but is now around one-third of that value thanks to Emilokan. By the time all figures are calculated, done and dusted, South Africa will assume the position of the largest economy in Africa, and we won't be getting it back anytime soon with this shambolic clueless mofos at the helm of affairs.


This was a thread I created in November on this same GDP loss, and we all know we have gone way way lower than this.....
but trust Nigerians not to read or focus on the things that will affect them, na portable and afcon be their own concern.

https://www.nairaland.com/7923805/nigeria-gdp-drops-500b-290b

Cc Sukkot GDP wey we dey use brag, don go.

You sound like someone who knows about comint

matify83:


BVN and NIN will geo-locate all your accounts and balance it up.

Gone are the days of tally number you know!

Thissystem:

https://nairametrics.com/2024/02/24/only-about-5-of-nigerians-have-over-n500000-in-their-bank-accounts-wale-edun/?amp=1

Stark reality

So the frivolities of the 5% are running down the 95%

Oga it is less than that say 0.05%. How can hardworking Nigerians be working for slave masters. No matter how u hustle for this country, u go end up waste am for fuel.

...

Check your account

travelzcruix:
Oga it is less than that say 0.05%. How can hardworking Nigerians be working for slave masters. No matter how u hustle for this country, u go end up waste am for fuel.

Walai, all the revenue from our business goes to buy diesel, infact we are fast depleting cash to the extent of using capital. Last last na to shutdown kick out well over 150 people out of work. Imagine blowing currently over 700k diesel daily.. ₦1600 per liter today.

I don't believe this. 5% ke

charlsecy:
Bank account balance is not a true measure of wealth.

Oga, if a "wealthy" person in naija does not have 500k in his account, he is not in any way wealthy. 500k should be that change in the account that is not worth the stress of touching for even the most poor wealthy man. It's just as you have 600 naira in your aza that is not useful to you. Oga under apc 500k is just a little over $200.

:DVery funny people the blame game don start una never see anything

[/quote]

Thissystem:

https://nairametrics.com/2024/02/24/only-about-5-of-nigerians-have-over-n500000-in-their-bank-accounts-wale-edun/?amp=1

Those 5% ar politicians. Check am well

5% of 200 million people is 10 million. That is still more than the population of many African countries.

adamusuleiman2:

Zero proof to your statement.

The proof we have says otherwise.

So which statistics is more accurate than physical manifestations of poverty oozing from the land of awon lesson teachers
After th statistics, the people with the highest IGR are fainting, begging and rioting for lack of food, while the soo called region with the least IGR are doing their things and notting lamenting so, can you see that statistics in Nigeria is most times questionable?

adamusuleiman2:

Ebi is everywhere even before the subsidy removal.

It's only "ebi n pa wa" that can make people sell their votes for Okpa and Jollof that they will shit out the next day or two.

Oga collect your poverty medal in peace and stop consoling yourself.

Check out the statistics here-

Number of hunger induced protest in Nigeria
Southwest 4....South East Non.
Number of fainting due to hunger
South west 5.....south east. Non.
Number of hunger induced open weeping and larmentstions
South west 3 .......south east non.

This is the real projection of poverty index in Nigeria, so, leave all this Oluwole statistics and NBS political statistics, seen is believing.