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Nigeria To Become 30th Largest Economy By 2014 - Politics (7) - Nairaland

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Latest IMF Figures Show Nigeria As World's 22nd Largest Economy / Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) / Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. (2) (3) (4)

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Re: Nigeria To Become 30th Largest Economy By 2014 by AwodwaGyanOniwe: 12:50pm On May 02, 2013
Re: Nigeria To Become 30th Largest Economy By 2014 by AwodwaGyanOniwe: 12:52pm On May 02, 2013
@Kemet
Unlike Nigerians we dont bragg about 3D RENDERS from PHOTOSHOP. Pls look these are CRANES aour chaps r busy here.

http://www.yaetsho.com/images/gallery/image_02_b.jpg
Re: Nigeria To Become 30th Largest Economy By 2014 by AwodwaGyanOniwe: 12:57pm On May 02, 2013
@Kemet
IM GONNA TAKE U TO ALL FORMER LOW INCOME AREAS. Note these have running water(drinkable water standards approved by SABS)
Unlike Nigeria our low income areas have tarred roads, electricity,malls,parks,stadiums etc..

FREE TRIP TO SOWETO.
wink wink wink wink wink
http://www.skyscrapercity.com/showthread.php?t=1202217
Re: Nigeria To Become 30th Largest Economy By 2014 by AwodwaGyanOniwe: 1:16pm On May 02, 2013
@Kemet
When it comes to MODERN ARCHITECTURE AND TECHNOLOGY. SOUTH AFRICA RULES AFRICA IN ENGINEERING AND ARCHITECTURE. We have no MATCH we're so ADVANCE. Unlike most you guys who use CHINESE and foreign firms for construction and design SOUTH AFRICA DOES EVERYTHING IN-HOUSE. OUR BUILDINGS WIN WORLD AWARDS, SAME CAN BE SAID IN MEDICINE. Only in SA in Africa where a human HEART,LIVER,EYE etc..can be transplanted from one person to another without PROBLEMS. I made an example of a Nigerian young girl who came to SA because all Nigerian hospitals couldn't help her. She stays here now with her parents they were granted citizenship.NIGERIA=EMPTY TALK AND EMPTY PRIDE grin grin grin grin grin grin

http://www.skyscrapercity.com/showthread.php?p=93166524
Re: Nigeria To Become 30th Largest Economy By 2014 by 1025: 1:31pm On May 02, 2013
economy my foot. we don't have a single company in that is ours. what can we produce? economy for inside darkness?
liars.
Re: Nigeria To Become 30th Largest Economy By 2014 by AwodwaGyanOniwe: 11:47am On May 06, 2013
@Londoner

THE RAINBOW NATION

Durban's 'white' suburbs are now 'black'

It is official: the affluent formerly white suburbs of Kloof and Durban North are now dominated by black Africans, and townships like KwaMashu and uMlazi are sparsely scattered with white residents.

Senior ANC leaders visited Nelson Mandela at his home in Houghton a few weeks after he was discharged from hospital. ANC deputy president Cyril Ramaphosa and chairwoman Baleka Mbete stand behind President Jacob Zuma and Mandela.

The 2011 National Census results, broken down into suburb-specific detail, were released yesterday, and the key migratory patterns observed throughout the country since the previous census in 2001 are just as prevalent in KwaZuluNatal, as a stronger black middle class emerges.

The figures show that there are now almost 16 000 black Africans living in Kloof, as opposed to just more than 10 000 white residents. Black Africans make up 54 percent of Kloof residents, while coloureds, Indians and whites account for just 1, 11 and 34 percent respectively. In Durban North, black Africans also outnumber their white counterparts, although not by much, making up 37 percent of the population, compared with 32 percent. The Indian population in Durban North is also closing in on that of whites, now at 25 percent.

Dr Arulsivanathan Naidoo, the head of Stakeholder Relations at Stats SA, said yesterday that this trend mirrored that which was taking place throughout South Africa.

"Since the start of our democracy until 2001, when the previous census was held, there was not much change in terms of migration patterns and suburb population dynamics. However, in the 10 years from 2001 until 2011, the last census, there has been a lot of change, and this recent census is the first real accurate count between those two points."

Naidoo said that the black Africans that were moving into the formerly white suburbs were bringing with them higher incomes and education levels. Black Africans were also catching up to the numbers of their white counterparts in Westville and Morningside.

Chatsworth is still dominated by Indians, who make up 60 percent of the population, but 38 percent - or 75 004 residents - are now black Africans.

The statistics also show that KwaMashu, although having a 99 percent black African population, also has 145 white residents. A total of 1 457 Indian and 303 coloureds also live in KwaMashu.

Similarly, uMlazi, with a total population of over 400 000, has 285 white, 999 Indian and 578 coloured residents. Durban's statistics also showed that 48 percent of both uMhlanga and Hillcrest residents had completed some higher education, followed by 47 percent of Westville residents.

Higher education levels in KwaMashu, uMlazi, Phoenix and Chatsworth ranged from 9 to 12 percent.

However, KwaMashu households have the highest percentage of married residents over the age of 16, with 97 percent. By comparison, only 82 percent of Morningside households are occupied by married couples.

Naidoo said the latest census statistics at suburb level showed a decrease in the number of people in South Africa living without basic essentials such as water and electricity.

"The quality of life generally has improved throughout the country, with more people now having access to basic services," he said. However, there were still small pockets of people who had not seen an improvement in their living standards.

The Mercury

Posted at 08:36AM Apr 30, 2013 by Editor in Durban |
Re: Nigeria To Become 30th Largest Economy By 2014 by gingerbeer: 1:55pm On Jun 04, 2013
@NigerianBobs
KNOW MOST OF U THINK SOWETO IS A SHITHOLE. Note Soweto is home to 1,3million people and is located in the smallest province/Gauteng in SA.

UPGRADES IN SOWETO NEW MALLS, HOSPITALS etc..

http://www.calgrom3.com/portfolio/current/jabulani-cbd/jabulani_cbd.asp
Re: Nigeria To Become 30th Largest Economy By 2014 by gingerbeer: 1:59pm On Jun 04, 2013
NIGERIA WILL STILL BE DRINKING DIRTY WATER FROM THE RIVERS IN VILLAGES AND DIRTY RAINWATER THEIR CITIES TILL 2100 AND BEYOND. EVEN NEXT YEAR YA'LL BE STILL DRINKING FROM THE RIVER DESPITE NOISE ABOUT REBASING. shocked shocked shocked shocked shocked shocked

[b]DON'T BLAME SOUTH AFRICAN VISITORS TO NIGERIA FOR NOT DRINKING YOUR WATER AND EATING YOUR FOOD. WE HAVE ARE OWN STANDARDS.
Funny enough my fellow SAns Nigerians are happy and fine with these LOW STANDARDS.

They have been having poor water, poor electricity, poor infrustructure for years and theyr happy this. I dont remember seeing power cuts or water cuts in SA in any municipality because the munics know they'll be in deep poo. In Naija failure to supply these is fine. grin grin grin grin

Nigeria: Adequate Drinking Water Still a Tall Dream in Nigeria
By Magdalene Ukuedojor, 5 January 2013
Related Topics

In a report, the World Health Organisation (WHO) and UNICEF ranked Nigeria third globally on the list of countries with inadequate water supply and sanitation coverage.

The 2012 report placed Nigeria behind China and India, as countries with large population without adequate water supply and sanitation coverage. Nigeria also occupied the 130th position on the Global Water Poverty Index of developing countries still battling with water and sanitation accessibility. Based on this scenario, experts insist that if tangible efforts are not made to achieve the water and sanitation goals of the Millennium Development Goals (MDGs), efforts to attain the other goals of ending poverty, achieving food security, improved health and economic empowerment will remain futile.

Nigeria is one of the countries that were adjudged to be "off-track" in meeting the water and sanitation targets of the MDGs by 2015, due to lack of coordination, abandonment and poor funding of various water projects.

According to available statistics, Nigeria's land area is about 91 million hectares. Out of this figure, 82 million hectares are arable but only 42 per cent of the lands are currently under cultivation due to inadequate water resources. Nigeria has about 264 medium and large dams with a combined storage capacity of 33 billion cubic metres of water. Of these dams, 210 are owned by the Federal Government, 34 are owned by states, while 20 are owned by private organisations. The dams, which have about 350,000 hectares of irrigable land in their vicinities, are largely underutilised. The Presidential Committee on Projects' Implementation set up by the Federal Government in June 2012 inspected water projects spread across the country. The inspection was undertaken to analyse the immediate and long-term potential of the water projects in the six geopolitical zones of the country as well as the challenges facing them.

A total of 111 water projects at different stages of construction and rehabilitation were inspected: 33 of these are dams, 40 are water supply schemes, while others are irrigation projects. As a result of the project assessment tour, 57 irrigation projects were earmarked for rehabilitation. In addition, the Water Sector Reform and Public Private Partnership Unit was established in the Federal Ministry of Water Resources to boost synergy among all tiers of government, development partners and private organisations in water projects. Mrs Sarah Ochekpe, the Minister of Water Resources, said that there were 14,000 dysfunctional hand-pump boreholes across the country, pledging that 1,000 of them would be rehabilitated. Besides, the minister noted that over 44 per cent of the country's water facilities were dysfunctional.

"Over the years, the Federal Government has invested substantial funds toward the provision of potable water supply infrastructure across the country, as part of efforts to attain the MDGs. "However, the infrastructure, particularly the hand pump boreholes, had rapidly deteriorated due to lack of adequate maintenance," she added. Ochekpe, nonetheless, reiterated Federal Government's commitment to increasing water and sanitation coverage in the country. "This will be done through participatory investment by the three tiers of government, the private sector and the beneficiaries with the following targets: "Increased rural water supply coverage from 44 per cent to 60 per cent by 2012 and to 75 per cent by 2015; from 32 per cent to 65 per cent in the area of sanitation by 2015. "Increased urban water supply from 65 per cent to 70 per cent by 2012; 85 per cent by 2015; and 100 per cent by 2025 to meet the African Water Vision target."

However, stakeholders have been proposing strategies for the completion of the numerous abandoned water projects. They particularly stress the need for community participation and the training of local manpower in the water sector. They believe that if beneficiary communities are involved in the execution of water projects, efforts will be made to ensure their timely completion. They, however, stress the need for the proper scrutiny of "constituency projects" relating to water. Meanwhile, Oba Michael Adesina, the Olowu of Owu-Ijebu, has called on lawmakers and politicians to desist from the misuse of water budgets. "Some people because of their privileged positions in the legislature say they want constituency projects; then, they take government money to execute a project that probably does not rhyme with national water supply schemes. "The money that should have been used to benefit all, a few people will use it in their constituencies and that reduces the budget available for the ministry and water corporations in various states. "Constituency projects are hardly completed; in fact, less than 25 per cent of the projects are completed and the money is fully spent," Adesina said. The traditional ruler also stressed the need for the timely release of funds for the execution of water projects by all tiers of government. All the same, experts call on the Federal Government to do all within its powers to ensure the completion of all water projects. The fulfilment of the Agricultural Transformation Agenda, Water Sector Reforms, the MDGs and Vision 20:2020 depend solely on the citizens' access to water supply, they add.(NAN)[/b] grin grin grin
Re: Nigeria To Become 30th Largest Economy By 2014 by gingerbeer: 2:24pm On Jun 06, 2013
LAGOS COLONIAL PAST
LAGOS WAS FOUNDED BY PORTUGESE AS A "SLAVE PORT" IN WHAT WAS THEN "SLAVE COAST" WHERE YA'LL SOLD OTHER AFRICANS.
grin grin grin grin

http://www.skyscrapercity.com/showthread.php?t=1070101
Re: Nigeria To Become 30th Largest Economy By 2014 by ba7man(m): 2:51pm On Jun 06, 2013
I'm reading proverbs 26:4 right now and it goes thus "Answer not a fool according to his folly, lest you also be like him.

Re: Nigeria To Become 30th Largest Economy By 2014 by kwametut: 10:00am On Jun 24, 2013
These ANALYSTS ARE SPOT ON.
HA HA THE WEST HAS BEEN FOOLING NIGERIANS SOON, AFTER THEIR OIL IS FINISHED WHICH IS PROJECTED TO BE 25 YEARS FROM LAST YEAR. THESE WESTERNERS WILL BE SINGING A DIFFERENT TUNE ELSEWHERE. grin grin grin grin grin grin[b]Not so long ago we were told PAKISTAN WILL REACH $1TRILLION MARK THIS YEAR, WE'RE WAITING WE HAVEN'T SEEN THAT.
grin grin grin grin grin

I SAW THIS INTERESTING ARTICLE LAST NIGHT AND LAUGHED. grin grin grin grin grin grin
NIGERIA THE REGIONAL SUPER POWER NOT A GIANT OF AFRICA cry cry cry cry cry

There has been a great deal of attention paid to the rise of Nigeria as of late. Indeed, it is hard to ignore the impressive economic growth rates being posted at a time when most economies are on the decline. The government appears focused on improving government services and investing in high potential growth areas of the economy. President Goodluck Jonathan’s recent Transformation Agenda is an impressive document that many economists and analysts believe is setting the conditions for Nigeria to become the dominant economy on the African continent. The agenda emerged in 2011 out of a belief by President Jonathan that the government needed a sense of direction and a way to ensure the country’s development priorities were applied with continuity, consistency, and commitment – the so-called “3Cs”. cry cry cry cry

Such analysis of Nigeria’s trajectory is further understandable given the current distribution of economic and political power in the region. Today, there are three regional nodes of economic and political influence in Sub-Saharan Africa: South Africa, Nigeria, and Kenya. These three markets are the dominant players and generally act as hubs for continent-wide trade and commerce. They are also important interlocutors within their regions and across the continent via the African Union. Traditionally, South Africa has been the most dominant of the three, taking on leadership roles within the African Union and often representing the continent in international institutions like the United Nations Security Council. South Africa’s dominance in this respect continues, but many are now arguing that its position atop the hierarchy of African states is being economically threatened by Nigeria.

But what I find particularly remarkable about all the analyses is their failure to consider the political economy of Nigeria as a whole. Indeed, much of the contemporary analysis of Nigeria appears to gloss over, forget, or intentionally ignore some of the important structural issues that still confront it. I don’t mean to downplay the significant economic growth that Nigeria is experiencing, or of the plans to fix its problems – all of these are good things. However, it really is too soon to claim that Nigeria is posing any threat to the dominance of South Africa on the continent.

Whilst Nigeria is a hub for the movement of goods, South Africa’s capacity and infrastructure are still superior in many respects. A recent study coming out of the South African Institute of International Affairs, argues that geography and infrastructure make a real difference to economic growth potential. The study notes that South Africa still maintains a geographic advantage and advanced infrastructural capacity, ranging from deep-sea ports to container activity to strong logistics capacity, and that it is where many multinational companies have chosen to locate their headquarters. The study also warns that other countries are finding ways to improve market share of trade activity in Africa. All of these findings are correct, but the logical jump to assuming South Africa’s decline under Zuma and Nigeria’s rising dominance implied by these sorts of studies leaves me feeling skeptical for the following reasons:

First, even in light of Nigeria’s strong economic growth, its GDP is still far less than that of South Africa. In fact, we are talking about $164 billion less. Not an insignificant sum for two developing countries. Nigeria’s GDP currently sits at $244 billion whilst South Africa maintains a GDP of about $408 billion. With Nigeria’s annual growth rate of 7% that is an extra $16 billion coming into the Nigerian economy next year, in 2012 we have seen the decline of Nigeria's growth from 7% in 2011 to 6.5% and assuming growth continues on par as projected, this will have a compounded effect. In this context, it is going to take more than 20 years for Nigeria to catch up with South Africa’s economy, which is also growing at a (albeit more modest) rate of 3%. Note: with recent oil findings in Southern Africa, South Africas problems are almost done and they will rise and open the gap. This is a far lengthier period than the 2014 prediction made by some analysts, so it is quite possible that the economic fortunes of either state could change significantly. Indeed, it is believed that South African growth rates could increase if problems with labour unrest in the mining sector are resolved. This is entirely plausible if the Zuma administration negotiates a mutually acceptable plan with its union partners currently in the governing alliance. All this takes is political will.

So, Nigeria’s transition into dominance will be reliant on current growth rates, oil prices, and education investments remaining the same for the next ten years. This scenario doesn’t take into account any shifts in macroeconomic conditions or natural fluctuations in markets. As well, it assumes that Nigeria can solve some real challenges it faces with its business environment, primarily that of capital flight and corruption. Indeed, Nigeria is ranked 131 out of 185 countries as a place to do business and has stayed in the same spot for the past two years. In contrast, South Africa’s business environment has improved in the past year – it is now ranked 39th globally, a two spot jump from the 41st position that it maintained last year.

Nigeria remains rife with corruption despite efforts by the government to address it. Continentally, Nigeria is ranked 27 out of 53 states in terms of being a non-corrupt environment; internationally it is ranked 139 out of 176 countries, according to Transparency International. In contrast, South Africa ranks seventh within the region and 69th globally for non-corruption. Corruption in Nigeria is really a systemic issue and the challenge of tackling it cannot be underestimated; to do so would require sustained support from continental and international partners.

The rise of Nigeria will also be dependent on its ability to address socio-political challenges. Longstanding civil conflict due to insurgent groups, and struggles to put in place safeguard measures to protect human rights will also prevent Nigeria from becoming the dominant player on the continent. These challenges are real and if not addressed, will detract from Nigeria’s ability to assert its dominance through the use of force or through moral persuasion.

Political stability in Nigeria is still a major issue. Adding to the existing political divisions between the people in the North and South of the country are the threats that insurgent groups such as Boko Haram and Ansaru pose to stability. Indeed, the national and local level governments appear to be struggling to contain these groups that are committed to destabilizing the North and East and to undermining important development work such as the vaccinations against Polio. Civil conflict brought on by these insurgent groups and their effectiveness at undermining the authority of the state and instilling fear in the local population poses a real challenge to Nigeria’s rise as sorting out internal matters will divert attention and resources for engaging in regional or international issues. Nigeria’s inability to take leadership in intervening in regional conflicts to date, like Cote d’Ivoire and Mali, only highlight the difficulty it faces in projecting leadership outside of its borders. While it is expected that Nigeria will participate in stabilizing Mali through the provision of troops, its slow response has been surprising given its leadership role in the regional economic community of ECOWAS. South Africa, which is a reluctant intervenor in African conflicts, has committed $23 million in humanitarian aid and police training.

Finally, the Nigerian government continues to grapple with respecting human rights. Amnesty International recently released its annual report on Nigeria that notes the continuing prevalence of extrajudicial killings, enforced disappearances, forced evictions, and unlawful detention. As well, rights for the LGBTI community continue to be hindered as homosexuality is still illegal in Nigeria and the president is planning on signing the Same Sex Marriage (Prohibition) Bill that was passed by the Nigerian Senate in 2011. All of this impacts Nigeria’s ability to act as a moral actor on the continent and internationally. South Africa, on the other hand, continues to be a moral actor as a result of the strong human rights provisions within its constitution and the existence of a constitutional court that effectively upholds those provisions.

When considering the “rise” of countries, it is important to remember that influence and dominance are also determined by other socio-political conditions than just the economy. The political reality of Nigeria includes real efforts to improve economic conditions in the country but also persistent problems that, if left unresolved, will undermine its ability to influence and dominate in Africa. In this light, it is important that one-dimensional analyses based on economic growth figures be tempered and contextualized against the challenges the country faces. [/b]

1 Like

Re: Nigeria To Become 30th Largest Economy By 2014 by Yustash001(m): 6:12am On Sep 04, 2014
Make dem stay dere there...dey deceive us....and make our leaders dey embezzle our money...
Re: Nigeria To Become 30th Largest Economy By 2014 by LZAA: 3:35pm On Jun 06, 2020
Sai baba minions like bamite and bambambiglo wee avoid this thread
Cc immhotep GMBuharii Afamed helinues ebenezar2020 blackking98 iceberg3

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Re: Nigeria To Become 30th Largest Economy By 2014 by bamite(m): 5:29pm On Jun 06, 2020
LZAA:
Sai baba minions like bamite and bambambiglo wee avoid this thread
Cc immhotep GMBuharii Afamed helinues ebenezar2020 blackking98 iceberg3

Ask the ineffectual buffoon what then happend?





Ode

1 Like

Re: Nigeria To Become 30th Largest Economy By 2014 by helinues: 7:00pm On Jun 06, 2020
bamite:


Ask the ineffectual buffoon what then happend?





Ode

You for dey ignore that nonentity
Re: Nigeria To Become 30th Largest Economy By 2014 by Sammygist: 7:45pm On Jun 06, 2020

1 Like

Re: Nigeria To Become 30th Largest Economy By 2014 by LZAA: 10:55pm On Mar 07, 2022
APC Zombies how far na
Una darling daddy has made this contraption the wealth capital of the world grin grin grin
Cc AfonjaConehead helinues Afamed

1 Like 1 Share

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