₦airaland Forum

Boyedex: From the analysis, Aba and Portharcourt have greater per capita consumptions than Lagos and Ibadan and thus higher average levels of living. However, for starters, when you multiply the per capita of the cities by their respective populations, there is then a bigger overall economy in Lagos and Ibadan than in Ph and Aba respectively. Simple arithmetic that should be devoid of tribal rants.

Why are you confusing facts here, the analysis clearly states Lagos with 15M people has GDP of $68B and Nigerdelta/SE cluster has 64B with about 9M people. Now where is there a larger economic activity per capital?

customized07: i intentionally decided not to post pictures initially, but because we are tolerating their excesses does not mean we don't have pictures too, they know me na, i ready for all of them, even their beggar president.

They have gone into hiding, useless noise makers. let's allow pictures do the talking for us now. The whole country is a nation of beggars. From Education, healthcare, public planning, poverty program, agriculture , Ghana is begging one international aid group or another. Just a bunch of shameless lazy people.

fellis: I like yer determination and patriotism jare but I dey wonder whether una two no dey ever tire.

Nobi tire, you try to respect them and leave them alone, but their noise is just too much.. How can a midget from Ghana compare themselves to any zone in Nigeria. Talk less of the whole country Nigeria. They are not the only ones, that can post pictures. Let's burn our data money here

I want to see the projected growth in consumer spending in Ghana for next 10 years, yeye dey smell. Even with boko haram ravaging Northeastern Nigeria. Those three states, borno, Yobe and Adamawa are still better than Ghana.

Nigeria’s retail and wholesale trade industry has the
potential to grow by 7.1% per year, and by 2030
could be the largest contributor to the country’s
GDP, according to recent report by McKinsey Global
Institute. Sales of packaged food and beverages are
expected to grow by 6.8% a year, contributing
around 85% of the growth in consumer goods.
The report, Nigeria’s renewal: Delivering inclusive
growth in Africa’s largest economy, estimates that
demand for consumer goods could more than triple
by 2030. The largest economy in Africa is seeing a
rising consumer class, creating a notable opportunity
for manufacturers and retailers of fast-moving
consumer goods such as food, beverages and
personal and health products. Currently consumption
is estimated at US$388bn a year but is expected to
rise to $1.4tr in 2030, with 35m households earning
over $7,500 a year.
“Based on data from other economies on how
consumption changes with rising incomes, we see
demand in Nigeria poised to accelerate in such
categories as fruit juices,” illustrates the report.
“Capturing emerging consumer demand, however,
will require smart choices about where, when, and
how to enter Nigerian markets. It will also require
specific capabilities that international companies
especially may need to develop.”
One strategy for consumer facing companies in
Nigeria is to adopt a city and regional approach, as
opposed to a nationwide approach where distinct
differences in culture, demographics and wealth
exist. While Lagos, with an estimate of 15m
residents, may be the go-to city for companies
targeting consumers, McKinsey suggests three
regional clusters of cities that together produce
sizable populations to rival Lagos.
“Companies playing in all three of these clusters
could target 20% more households earning above
$7,500 than in Lagos,” notes the research.
A six city cluster around the Niger Delta in the
southeast
Port Harcourt, Warri, Benin City, Aba, Enugu and
Onitsha make up the six city southeast cluster. Its
proximity to oil wells has led the region to be a hub
of activity for oil companies and foreign investment .
According to the report, total GDP in this cluster
alone is $63bn, which is a close rival to Lagos’s
GDP of $68bn, despite having far fewer households.
Both Port Harcourt and Aba have considerably
higher consumption per capita than Lagos. Port
Harcourt, followed by Benin City, Onitsha and Aba
have the largest populations within the cluster.
Companies looking to target the luxury segment
might want to especially consider Port Harcourt, the
capital of Rivers State, which has the highest
consumption per capita in the country ($6,843 in
2013). The city has one of the largest consuming
middle classes in Nigeria with household incomes
between $20,000 and $70,000 a year. It has access
to two of the country’s busier ports and is home to
the Port Harcourt Airport.
Ibadan, Ogbomosho and Ilorin, just north of Lagos
These three cities are within close proximity to
Lagos. Ibadan (the capital of Oyo State) is the
second largest city after Lagos, and has a fast-
growing consumer market. While Lagos has over
four times the number of households as Ibadan,
consumption per capita of Ibadan in 2013 was
$4,562, rivalling Lagos’s $4,710. Ibadan also has a
large emerging consumer class with annual
household incomes of between $7,500 and $20,000,
and one of the larger consuming middle classes in
the country with incomes between $20,000 and
$70,000 a year.
According to a recent African Development Bank
(AfDB) report, Tracking Africa’s Progress in Figures,
Ibadan is one of the top 10 fastest growing cities in
Africa.
Northern corridor cluster of Kano, Zaria and Kaduna
This cluster holds potential for consumer businesses
looking for sizable populations in northern Nigeria.
Kano is the fourth largest city in Nigeria, and
Kaduna the seventh biggest.
This year, South African retailer Shoprite launched
its first outlet in Kano, while Massmart opened a
Game store just before June. Despite the potential
security risk posed by Islamic militants in the region,
Massmart’s Africa director Mark Turner said at the
Reuters Africa Summit in April: “I always want to be
bold enough to say, you can’t be in Nigeria without
being in Kano.”

Everywhere in Ghana Oyinbo is helping them. Even to map their slum. coastal community of Gbegbeyesi

Just imagine their oyinbo saviors have no choice but place football in their great looking fields. Nigeria is my home, I remain proud of poor Nigeria.
.

The slums of Accra. Why is our African paradise looking like this? Ghanaian please get to work.

In the words of the mayor of accra, I present you sodom and gomorrah

A very rich country, that depends on missionaries in 2014, for education, healthcare and poverty programs. I will remain a poor Nigerian, than a rich Ghanaian any day.

oduastates: Ghana has a proper economy run via taxes,
C
Nigeria is simply a gas station .

Are you the one paying the taxes there A country where 50% of their national budget is foreign aid.

Kumasi the royal city

Nigeria is a poor country agreeded, but look at the rich advanced Ghana.

Just look at the paradise in Kumasi, I will remain a poor Nigerian, than a rich Ghanaian.

Biggest market in africa kejetia

danot1030: u seem not to understand, the implication of the analysis above is that there is higher cost of living at Aba than Lagos. Beside get the fact right not Aba as solo but Aba join with Port-Hacourt together. The over all implications is that Lagos might witness a higher rate of migration from these areas

What are you saying here?

Where is direct link of this video, from Amnesty international? Also where is their press release?

You people will kill this thread from making it to front page. Make una stop posting pictures.

AkinEgba: Aba (one of the most underutilized great cities in Nigeria). The citizens need more work to govern and promote their city

They have allowed political propaganda against Orji, to become the trademark of the state. Refusing to present the good side of Aba. Aba, should without any doubt be the leading city in southeast . But bad news propaganda have taken the shine away.

chinolization: No! Pictures will speak the language faster..

You will have this thread, thrown into the tribal section, for no reason. This is actually front page material.

chinolization: Is photo-speak unintelligent?

Well I am coming with pictures to dissect this discourse..

Chino, please let's not turn this into another picture nonsense.

One question I have though, what is called a Lagos cluster? Half of Ogun state is already considered the suburbs of lagos. Does this analysis include such areas

AkinEgba: Don't know about Benin, but PH is more populated than Onitsha and Enugu. Onitsha may be more dense though.

I don't know why any body wants to compare portharcourt to Enugu or Onitsha.

AlJarzirah: I don't believe that Port Harcourt, Benin or even Onitsha is more populous than Enugu. Enugu is one of the most thickly populated cities in Nigeria.

What you believe is irrelevant. Where is your data to back it up?

Consumer potential: Three Nigerian city clusters to compete with Lagos


Nigeria’s retail and wholesale trade industry has the
potential to grow by 7.1% per year, and by 2030
could be the largest contributor to the country’s
GDP, according to recent report by McKinsey Global
Institute. Sales of packaged food and beverages are
expected to grow by 6.8% a year, contributing
around 85% of the growth in consumer goods.
The report, Nigeria’s renewal: Delivering inclusive
growth in Africa’s largest economy, estimates that
demand for consumer goods could more than triple
by 2030. The largest economy in Africa is seeing a
rising consumer class, creating a notable opportunity
for manufacturers and retailers of fast-moving
consumer goods such as food, beverages and
personal and health products. Currently consumption
is estimated at US$388bn a year but is expected to
rise to $1.4tr in 2030, with 35m households earning
over $7,500 a year.

“Based on data from other economies on how
consumption changes with rising incomes, we see
demand in Nigeria poised to accelerate in such
categories as fruit juices,” illustrates the report.
“Capturing emerging consumer demand, however,
will require smart choices about where, when, and
how to enter Nigerian markets. It will also require
specific capabilities that international companies
especially may need to develop.”

One strategy for consumer facing companies in
Nigeria is to adopt a city and regional approach, as
opposed to a nationwide approach where distinct
differences in culture, demographics and wealth
exist. While Lagos, with an estimate of 15m
residents, may be the go-to city for companies
targeting consumers, McKinsey suggests three
regional clusters of cities that together produce
sizable populations to rival Lagos.
“Companies playing in all three of these clusters
could target 20% more households earning above
$7,500 than in Lagos,” notes the research.
A six city cluster around the Niger Delta in the
southeast

Port Harcourt, Warri, Benin City, Aba, Enugu and
Onitsha make up the six city southeast cluster. Its
proximity to oil wells has led the region to be a hub
of activity for oil companies and foreign investment .
According to the report, total GDP in this cluster
alone is $63bn, which is a close rival to Lagos’s
GDP of $68bn, despite having far fewer households.
Both Port Harcourt and Aba have considerably
higher consumption per capita than Lagos. Port
Harcourt, followed by Benin City, Onitsha and Aba
have the largest populations within the cluster.
Companies looking to target the luxury segment
might want to especially consider Port Harcourt, the
capital of Rivers State, which has the highest
consumption per capita in the country ($6,843 in
2013). The city has one of the largest consuming
middle classes in Nigeria with household incomes
between $20,000 and $70,000 a year. It has access
to two of the country’s busier ports and is home to
the Port Harcourt Airport.
Ibadan, Ogbomosho and Ilorin, just north of Lagos
These three cities are within close proximity to
Lagos. Ibadan (the capital of Oyo State) is the
second largest city after Lagos, and has a fast-
growing consumer market. While Lagos has over
four times the number of households as Ibadan,
consumption per capita of Ibadan in 2013 was
$4,562, rivalling Lagos’s $4,710. Ibadan also has a
large emerging consumer class with annual
household incomes of between $7,500 and $20,000,
and one of the larger consuming middle classes in
the country with incomes between $20,000 and
$70,000 a year.
According to a recent African Development Bank
(AfDB) report, Tracking Africa’s Progress in Figures,
Ibadan is one of the top 10 fastest growing cities in
Africa.

Northern corridor cluster of Kano, Zaria and Kaduna
This cluster holds potential for consumer businesses
looking for sizable populations in northern Nigeria.
Kano is the fourth largest city in Nigeria, and
Kaduna the seventh biggest.
This year, South African retailer Shoprite launched
its first outlet in Kano, while Massmart opened a
Game store just before June. Despite the potential
security risk posed by Islamic militants in the region,
Massmart’s Africa director Mark Turner said at the
Reuters Africa Summit in April: “I always want to be
bold enough to say, you can’t be in Nigeria without
being in Kano.”


http://www.howwemadeitinafrica.com/consumer-potential-three-nigerian-city-clusters-to-compete-with-lagos/41840/

Good economic analysis of consumer spending, around the country and in years to come. You have to give up for the portharcourt. The saying, that PH smells of money has been proven here again.

Map of cluster

Ghanaian Economist Dr. Theo Richardson says Ghana’s economy will crash by June this year if the Bank of Ghana continues with its kneejerk measures to rescue the cedi.

“The government is facing liquidity problems and if we don’t get the appropriate remedies to address the issues at hand the situation may worsen and by June the economy may crash,” Dr. Richardson said.

He stressed: “I said if they don’t address the fundamental problems facing the economy, by June the country’s economy will crash because the government has not even paid University Lecturers since last year among other pressing issues which needs to be address.”

Dr. Richardson was speaking on Adom News about recent measures announced by the central bank save the cedi from falling further, after an all time 7.2% depreciation against foreign currencies.

As part of the measures, the BOG ordered all commercial banks not to issues cheques and cheque books in foreign currency again, not to give loans in foreign currency again, and to allow business people travelling to cash on only US$10,000.

But Dr. Richardson said the BOG should have given about three months notice to the dollar account holders, particularly importers and exportes, so they could get enough dollars for transactions, instead of stopping dollar transactions with immediate effect.

He described the BOG’s directive as “very harsh” for businesses, adding that it has a potential of crashing the economy by June if they are not reversed quickly.

Dr. Richardson explained that the BoG’s new policies would force investors and business men and women to take drastic steps that could make things worse for the economy.

He noted for instance that the US$10,000 ceiling for people travelling will only boost a foreign exchange black market, and cause the dollar rate to go even higher.

Meanwhile, the Central Bank has increased the Monetary Policy rate from 16% to 18%, which means banks can now borrow from the central bank at 18% interest rate, which now threatens to raise interest rates on loans as well.

Dr. Richardson believes the BOG and government need to rethink the measure they are putting in place to revamp their economy because those measures are rather threat.

Antiquated Measures

Meanwhile, MP for New Juabeng South, Dr. Mark Osei Assibey, who is also an economist agreed with Dr. Richardson, saying that the measures the BOG announced were “antiquated” and rather pose a danger to the future of the economy.

He said: “BOG has brought back 1983 measures put in place by the Rawlings government to save the cedi but those measures did not work and they will not work now.”

Dr. Assibey Yeboah noted that it is normal for the cedi be under pressure at this time of the year, when importers are cashing lots of foreign currency to go pay for goods the credit for the Christmas holidays.

He said an effective economic management team should be aware of this and know what steps to take ahead of time to keep the depreciation at a minimal level.

“Some depreciation occurs in the cedi around this time of the year but this year it is 7.2% and that is unacceptable,” he said.

The BOG recently pumped some US$20million into the economy as part of measures to boost the cedi, but the MP said the BOG needs to do more than that because US$20million is not enough to meet the needs of even one company.

“They must pump more of our foreign reserves into the economy – I don’t know what they are stashing the foreign reserves for – this is the time for them to fall on it to save the cedi and the economy as a whole and quit this antiquated measures,” the MP said.
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=300182

Tarkwa mining town and very beautiful roads in our Ghanaian paradise.

Look at this paradise, you people need fix this asap, right in Accra.

This cannot be the paradise call ghana.

help has arrived for the paradise in Ghana, where you cannot feed your own kids.