KEY ECONOMIC PERFORMANCE OF TINUBU'S NINE MONTHS GOVT

1 🟢GDP Growth: Positive GDP growth rate from 2.51% in Q2 2023, 2.54% in Q3 2023, and 3.46% in Q4 2023. A full year 2023 growth rate of 2.74%.

2 🔴Inflation Rate: Rising inflationary pressure from 22.41% inherited in May 2023 to 31.70% 9 months after. Food: from 24.82% to 37.92%.

3 🔴Foreign Exchange (₦/$): Devaluation of the Naira from $1/₦461.06 in May 2023 to ₦1,544.08 in Feb 2024. 235% value depreciation against the USD.

4 🟢Stock Market: The Market has been bullish with a 121.8% market gain from May 2023 to Feb 2024.

5 🟠PMI: Purchasing Manager's Index maintains a positive outlook at 51.1 Feb 2024 from 54.0 May 2023, indicating improvement in the business conditions of the country. However, this is a reducing confidence in the outlook.

6 🔴Foreign Reserves: A drop in foreign reserves of about 4.30% from $34.40bn in May 2023 to $32.92bn in Feb 2024.

7 🟢Crude Oil Production: Increase in oil production from 1.19mbpd in May 2023 to 1.32mbpd in Feb 2024.

8 🟢Crude Oil Price: Increase in average oil price at $76.91/barrel in May 2023 to $86.08 in Feb 2024.

🔴Negative 🟠Threatened 🟢Positive

#Statisense
(NBS, CBN, NGX, StanbicIBTC)

What a wonderful performance?
On your mandate we shall stand.

We are already getting served, thank God it's going round.
Those that will survive will survive by Gods Grace.

Tinubu government is un-arguably the worst in Nigerian history

Enough of this ayo olopon(game), and get the country working. Are they still clueless?.

Tinubu is the worst president to have ever govern this country

GDP growth? When foreign companies are leaving Nigeria in their numbers? I always have a problem with statistics that Nigerian institutions churn out!

All those green dots are still on paper; Nigérians haven't started feeling any positive impact of this government!

Toh

Those who couldn't read and comprehend have already been nacking their heads on the wall.

I heard they have increased the price of Flagyl in Nigeria as the born enemies of Nigeria a.k.a wailers have been defecating their intestines as the good news that have been flocking around couldn't give them rest of mind.

As the lord says, there can never be any rest for the wicked souls

4 positives

2 threatened

2 negatives

That's is above average, something like 60% success rate.

Slow and steady

SoNature:
GDP growth? When foreign companies are leaving Nigeria in their numbers?

All those green dots are still on paper; Nigérians haven't started feeling any positive impact of this government!

I always have a problem with statistics that Nigerian institutions churn out!

yes GDP growth rate can increase in this instance, despite the economic Armageddon we are facing and the reason is quite simple. So simple you'd smile😁

GDP is the total monetary value of all goods and services produced in a country for a period. Prices of everything has increased, and this includes the same goods and services that are computated to get the figure. Get it now? So in Naira it is expected that there will be 'nominal' GDP growth due to the increase in the GDP figures now compared to periods when goods and services were cheaper, but it isn't 'real' GDP growth. What's sad is in USD our GDP has plummeted so much so South Africa had largely already taken the place of the largest economy in Africa. We used to be an over $500b economy but Thubv has taken us off that seat and it ain't likely we're getting back there anytime soon.


Hope you understand.

Treadway:
yes GDP growth rate can increase in this instance, despite the economic Armageddon we are facing and the reason is quite simple. So simple you'd smile😁

GDP is the total monetary value of all goods and services produced in a country for a period. Prices of everything has increased, and this includes the same goods and services that are computated to get the figure. Get it now? So in Naira it is expected that there will be 'nominal' GDP growth, but it isn't 'real' GDP growth. What's sad is in USD our GDP has plummeted so much so South Africa had largely already taken the place of the largest economy in Africa. We used to be an over $500b economy but Thubv has taken us off that seat and it ain't likely we're getting back there anytime soon.


Hope you understand.

Unfortunately, I don't agree with you.

What you are describing is inflation. It stands at about 30% in Nigeria now. Inflation doesn't mean GDP growth.

GDP growth is when you have 200 businesses producing goods and services worth $450 billion. Over the years, the number of businesses increased to 220 and the worth of their goods and services increased to $500.

What we have seen happen in Nigeria is that foreign companies that control the economy of the country are leaving and naira is becoming worthless. If you convert the prices of goods and services produced in naira to dollars, you notice that there was no GDP growth. Instead, the economy is dwindling.

https://www.frbsf.org/research-and-insights/publications/doctor-econ/1999/02/inflation-gdp-growth/

SoNature:


Unfortunately, I don't agree with you.

What you are describing is inflation. It stands at about 30% in Nigeria now. Inflation doesn't mean GDP growth.

GDP growth is when you have 200 businesses producing goods and services worth $450 billion. Over the years, the number of businesses increased to 220 and the worth of their goods and services increased to $500.

What we have seen happen in Nigeria is that foreign companies that control the economy of the country are leaving and naira is becoming worthless. If you convert the prices of goods and services produced in naira to dollars, you notice that there was no GDP growth. Instead, the economy is dwindling.

https://www.frbsf.org/research-and-insights/publications/doctor-econ/1999/02/inflation-gdp-growth/

I have already addressed all these elements you are talking about. But in this instance the GDP figures are in Naira and the total monetary value of goods and services have increased since Thubv took over due to increase in the cost of all goods and services. It really is as simple as that.

Those companies produced and sold finished goods and services for that period...they may be in the process of leaving but they haven't left yet, so their production and income is still being captured till they are no longer a going concern

He is doing nothing

Treadway:
I have already addressed all these elements you are talking about. But in this instance the GDP figures are in Naira and the total monetary value of goods and services have increased since Thubv took over due to increase in the cost of all goods and services. It really is as simple as that.

Stop arguing. Economists don't consider high inflation rate as economic growth. That link I shared with you briefly explained it. There are tons of articles published by reputable sources that explain why high inflation rate doesn't mean economic growth.

SoNature:


Stop arguing. Economists don't consider high inflation rate as economic growth. That link I shared with you briefly explained it. There are tons of articles published by reputable sources that explain why high inflation rate doesn't mean economic growth.

lol. ok. Will leave you to it.

Looks like Tinubus government is doing well in terms of GDP growth rate and stock market performance, but inflation and foreign reserves are concerning.

yinkus6750:
What a wonderful performance?
On your mandate we shall stand.

We are already getting served, thank God it's going round.
Those that will survive will survive by Gods Grace.

True

HarryGleb:
I want to help you with a job ok.

Why not go and help your relatives who lack that same job

We are okay here

HarryGleb:
You Are always here from morning till night. I want to make you useful so that you can be president one day.

Do they swear trolling for you? I have been off NL for 3 months plus yet you are still here trolling others.

Hope you remember last year March when I told you btc will hit $50k by January, how much is it today. Other potential coins dey wey we dey bank on

You don't just need a work, you need a better life devoid of years of wasting your time trolling others cos we are cashing out here through ecurrency

HarryGleb:
I want you to be richer than Dangote. I want to make your aged parents proud of you.

Stop sounding dumb. How rich are you yourself

helinues:
Toh

Those who couldn't read and comprehend have already been nacking their heads on the wall.

I heard they have increased the price of Flagyl in Nigeria as the born enemies of Nigeria a.k.a wailers have been defecating their intestines as the good news that have been flocking around couldn't give them rest of mind.

As the lord says, there can never be any rest for the wicked souls

you Dey mumu for 8 years and counting!

If only Nigeria moved in the direction different from what you have been supporting

Someone should explain to us what the inflation rate means.like been 23% in may last year and now 37% now


Does it mean if I use to buy bread for 1000naira last year .month in month out it crease by 37% which will be 1370naira.someone need to explain to us in simple term

Didijiji:
you Dey mumu for 8 years and counting!

If only Nigeria moved in the direction different from what you have been supporting

Sorry to ask oo, if Nigeria is not moving in the right direction, are you saying you are also stagnant with Nigeria?

helinues:


Sorry to ask oo, if Nigeria is not moving in the right direction, are you saying you are also stagnant with Nigeria?

Leave me and talk about the status of APC's Nigeria

I am immune to their stupidity