₦airaland Forum

adenigga:
Source: https://Dailytrust.com/5-soldiers-30-terrorists-killed-as-b/haram-attacks-troops-in-Borno

I still don't know why we don't have like 5 drones airborne round the clock to support our troops anywhere they engage these militants.

If we have 3 airborne at any point in time in the North West and 2 in the North East, then whenever troops engage militants, it can be easily deployed. I struggle with how we hear that militants engage troops in heavy gun battle for 5 years, when I can fly from Lagos to London in same 5 hours.

https://en.wikipedia.org/wiki/Bayraktar_TB2

sojayy:
2 billion bawo, this lie too muchhh

E reach o

Rolls Royce - $300k
Range Rover - $150k
Escalade - $150k

Thats $600k. Multiply by 1.7 for excise duty, customs duty, shipping etc and multiply by 1700 exchange rate

ogododo:
https://www.vanguardngr.com/2024/11/hardship-more-childrenll-wear-used-clothes-at-christmas/

I grew up wearing my older brothers hand me downs. Not sure I got anything new for myself until I was about to go to University.

Today I work for a multinational and can afford to buy any new clothes I want.

Wearing Okrika as a child doesn't define you for life.

EmekaA125:
Same power supply Mr Adelabu was boasting to have stabilized for 20hr/day the other time. Kai, lying on a national tv is becoming common to these people.

Receive sense! They didn't say there was no electricity available. The hospital was DISCONNECTED FOR NOT PAYING ITS BILLS!

Blazetrailer:
Lol...Read what you wrote again.

For someone who started by stating that prosperity of nations are measured by Budgets....you have come along well. I am happy that you have not buttressed any of your points with solid statistical and verifiable evidence other than things you assumed, conjured, felt, believed or supposed. That is enough admission you dont know nada.

Do you think other cerebral people who measure GDP for comparison simply just take a value and divide it by one random exchange rate and then compare countries? If it were so, then you wouldnt need more than a primary school certificate to work in places like WTO,World Bank,IMF,UN, etc..

.....and if GDP were driven mainly by exchange rates, then China and Japan should not be ahead of countries like GB,Euro zone countries,Austratila, etc. because a country like China thay artificially devalues its currency on daily basis should have much lower GDP than those countries i stated above if you postulation were true.

Using number of industries to gauge GDP is very stupid to put it mildly. Hypothetically citing the number of industries as drivers of a GDP is not only dumbfounded but smacks of someone with little idea in even using the right logic for arguments. It is more fallacious to think GDP is a function of your industry alone, it includes other things as your natural resource extractions, services, etc. Any sensible person will recall that Nigeria surpassed SA in 2013/14 when Nigeria's GDP were revalued to include the entertainment industry andnother services oriented,m knes thatvwere not captured initially. it never mattered to the global bodies (UN,WHO, AfDB,WTO,IMF,World Bank, etc that use the stat)whether SA had 1000 times industries more than Nigeria. What is being valued is the total value of output. If it was wrongly inflated, they would have rejected it or adjusted for the inflation accordingky ans Nigeria would not have been 1st.

For the umpteenth time, Nigeria's GDP fell to 4th not necessarily because of the devaluation of naira but because of the contraction experienced in the production of goods and services and the forecasted contraction into the future. Read up! I am tired of telling you this. The IMF report of March 2024 never stated that Nigerias GDP was dropped to 4th in Africa because maira was weaker but because it grew slower than they forecasted ( 2.56% instead of 3.3%) and this was mainly due to dwindling production of oil output.

Your knowledge is so limited. I dont even bother to read the gibberish you write anymore( for fear of polluting my brian), i just post the remainder of points i had from my last post, even at that I know it will be more accurate than your nonsense.

As far as I'm concerned you are just ranting. I gave an example to demonstrate something and you took it literally to say I meant GDP is just companies alone.

OF COURSE I KNOW THE COMPONENTS OF GDP. I JUST USED THAT TO MAKE A POINT!!!

All your rant doesn't address any specific issue. So what exactly is your point or message in all this? That Nigeria is a bigger and better country and economy than SA?? Ok congrats you are right! Nigeria is the best country in Africa even.

Blazetrailer:
If only you had a bit of pedagogy you could have saved yourself the public shame you are bringing yourself to. For someone who does not understand how to compute real GDP and the use of GDP/capita, making anything out of gibberish you wrote below is nauseating enough.

Now listen, the problem is not the indices you used(GDP/GDP per capita) but your conclusion and application from them.

For instance, globally nobody, i repeat, nobody calculates GDPs without normalising it for both inflation and exchange rate differences. A JS3 Economics student knows this. In calculating GDPs, nobody makes the dumb and smipleton-like error of just converting it to USD when the USD itself is subject to fluctuations against other currencies, It then means there would have to be multiple computations for one Country's GDP against other various currencies of the world if they need to compare. Surely, the world bodies(IMF/UN/World Bank,AfDB,WTO, etc.) are not that stupid. They use what is called PPP index which is a factor that takes into consideration all global currencies and their relative exchange rates to apply to their computation. Simply stating that you compute GDP in local currency and convert to USD shows clearly you do not have an idea of what you were talking about. Mentioning that Nigeria's GDP was overvalued showed your shallow understanding of how global economics worked. The global calculators don't use CBN rate or black market rate, they used the PPP index. Your stupid example above shows you to be an illiterate in Economics, it is not that simplistic.

On the per Capita issue, again you exposed your lack of knowledge. Per capita comparison is usually used when you want to individualize the prosperity of countries and never on a national basis. This is because it is now driven by the population and it can only be used to measure the conditions of individuals in different countries. For instance, Luxembourg as a GDP/capital of $142,214 while US has $76,399(2022 as per WTO data). What this means is that an individual in Luxembourg has a much higher production than and probably more wealth creation than an individual in the US. It would be dumb to state that Luxembourg has a better or larger economy that that of the US when in fact the US GDP is 250 times more than that of Luxembourg(US=$25.64 trillion vs Luxembourg=$82billion as of 2022). When using per capita to compare countries, subjection is made for the population. Only simpletons would blatantly use per capita computations without individualizing it. Again, a A JS3 student of Economics will consider himself a failure if he did that.

It also appears to me that you dont know what productivity means hence your blabbing about it. Productivity is defined as rate of output relative to the input. I used the MTN example to point out the fallacy and dumbness in your point that because MTN's HQ is in SA hence Nigeria could not have had a better GDP than SA. What an infantile assumption!! Its akin to saying that since Volkswagen has its headquarters in Germany, there is now way its market in China(VWs largest market in the world) can be bigger than that of Germany. For context, MTN Nigeria received 18% of the total global Capex expenditure of MTN Group but contributes 53% of the global EBITDA(source: 2022 MTN Group financials) whereas, MTN SA got 21% of the global Capex but contributed 29% of the Group's EBIDTA. What does that tell you? MTN Nigeria was more productive. Infrastructures and facilities do not translate to GDP, otherwise Japan would be number 1 in GDP compared to others.

I hope you have learnt something today. Please stop disgracing yourself.

You are just turning around and around in circles and confusing yourself with big statistics. Big numbers are only useful based on the inference you can gain from them.

Cut and dice it anyway you like, Nigeria doesn't compare to any of those countries US, Luxembourg, or even SA.

Any which way and by whatever method, the GDP in Naira is converted and that's the main reason why it has dropped because our national output has not significantly changed between 2023 and now to account for our GDP dropping from $450bln to $284bln.

Stop majoring in the minor.

Of course it's expected that 2 countries of equivalent national productivity per person, but with a bigger population like America will have a larger GDP than the smaller one like Luxembourg.

The point is that Nigeria with 4times the population of South Africa, but one sixth the per capita GDP is a GROSSLY unproductive economy. And that lack of productivity is why the national revenue and budget is also low. If nobody is doing any productive activity, what profit can you tax!?

That's the point of the discussion, not slinging statistics and formular and insults up and down.

Besides I never said because MTN HQ is in SA, Nigeria could not have had a bigger GDP. I said that SA has more pan African conglomerates than Nigeria, of which MTN was one, so why wouldn't their GDP be larger. Go and read slowly again and don't be in a hurry to argue.

Speaking hypothetically if SA has 1000 companies with PAT above $100mln and Nigeria has only 120, and they both tax at 30%, doesn't it stand to reason that SA will have a bigger budget? And those 1000 companies business activities will impact the GDP as well. So there is a clear link between the GDP of a country and tax revenue and size of budget, except for countries that are massively skewed by natural resources like oil. And Nigeria isn't one of those cos the oil we have is too small to make a dent in a country of 200mln people.

orisa37:
SUBSIDY REMOVAL IS GOOD. BUT MR. PRESIDENT MUST TAG THE NAIRA NOW AT N500 : $1 AND FIX PETROL PRICE AT N500 PER LITER.

Na so dem dey tag currency? He might as well just make it 1 to 1

Blazetrailer:
Lord have mercy!!

I read it up to the point where you stated that Nigeria was number one GDP in Africa because of the artificial overvalued currency and I knew right there that you either do not understand how GDP is calculated or you just wanted to be economical with facts.

GDP is not calculated using exchange rate but the Purchasing power parity index( a type of exchange rate that shows what consumers from different countries would pay for the same amount of goods and services). Nigeria's projected GDP fell from 1st to 4th now( and projected to be 5th behind SA, Egypt, Algeria, Ethiopia and Kenya by end of 2025) not necessarily because of fall in the exchange rate of naira but more because of the revised growth projections necessitated by some poorly implemented policies of the last 3-4 years and worsened by the current Tinubu administration's haphazard and disjointed approaches.

Again, I have been to SA many times but I am learned enough to also know that GDP is not driven by the infrastructures but by the value of your total output including extracted natural resources. That is why countries like Saudi Arabia( a non manufacturing giant) will be ahead of manufacturing powerhouses like Sweden(Auto/Pharmaceutical), Switzerland(Pharmaceutical), Thailand(Garment,Auto,etc), Norway, Belgium, etc, in the current pecking order of GDPs. Common sense should also have told you that even though MTN has its headquaters in SA, nearly 50% of its revenue is generated from Nigeria while SA contribured less than 23%. Something is behind that statistics. Productivity is higher in Nigeria.

Finally, I laughed it off when you began to compare per capita income. Your sense should have told you that anything per capita is driven by population and since Nigeria's population is almost 4 time of that of SA, such will be affected by sheer number of people living in Nigeria. This explains why the GDP per capita of countries like Luxembourg, Qatar, Norway, Switzerland are far better than that of USA despite having far lower overall GDP than the USA. Does that mean the USA's GDP was inflated??

All of these give credence to my initial assertion that you probably do not have the full idea of what you are talking about and just wanted to join the bandwagon without the necessary knowledge. Using budget to gauge prosperity of countries is completely wrong ans inept.

Nanyou no sabi anything. You say productivity is higher in Nigeria!? How can? The per capita income clearly says otherwise. Yes population is a factor but absolute numbers mean nothing until to unitize it. 2 separate families earning N20mln salary a month doesn't mean much until you contextualize it by saying one family is husband wife and 2 kids, while the other is husband , 3 wife's and 13 kids. You saying productivity is higher in Nigeria simply because MTN generated more revenue is extremely shallow. MTN may be a market leader here whereas they have much more competition in SA so they cannot do as well. Does that make Nigerians more productive as a people?

You were the one that touted GDP and per capita income in your earlier post. I went there and now you are jumping away from those indices again.

How can you have quality output, which impacts your domestic production without infrastructure like efficient ports, electricity, efficient transportation, railway etc

Oga you know not much about global economics.


GDP is calculated in Naira and compared in USD, yet you say devaluation had nothing to do with it! Jesus! So if I build a house last year for N100mln and another this year for N150mln, won't both go into the GDP calculation for each year? Now in dollars do they give the same value in each year? Last year N100mln was $222k, this year N150mln is $88k.

VaselineCrew:
APC people say Tinubu is working, yet everyday evidence of life in Nigeria shows the complete and utter OPPOSITE.

Right before our very eyes, some Nigerian notes are becoming, or sorry, have become, absolutely worthless

So, when last did you guys carry these notes?

As for me, I don't even bother carrying anything less than N200 nowadays in my wallet.

Ideally we should print N2000, N5000 and N10000 bank notes. Unknowledgeable Nigerians will say it will cause inflation, but we have been using N1000 for like 15 years now, haven't we had inflation despite it!? The lower denominations from N100 and below should be changed to coins.

Any sound economist knows the denomination of the note is not the top 10 reasons why you will suffer inflation, so let's stop chasing shadows.

lucianohase:
This will result in another big problem for Nigeria which will make many homeless and will increase crime. Reason is, when u tax property owners, they will increase the price of renting out their properties, for those who have such. Then many who can't pay will be homeless. What do u expect, it will breathe crime, turn people to animals who will be easy and willing tools in the hands of all these sects since they will be told that the ruling class are their enemies. And they will start hunting innocent people and politicians who implement such policies. I pray that we don't get there, cos if we do, many people will carry sophisticated weapons and their target will be politicians. Just as boko haram have been doing . IMF should understand that the policies they have advised Tinubu and some other African nations to implement hasn't solved any problems at all, rather it has created more problems.

Focus on the wealthy in VI, Lekki Ph1, Ikoyi, Banana Island, GRA's and its less of an issue. Most houses in such areas a re owner occuopier and if you are renting there, then you are also wealthy and its not a problem. Will someone paying N10mln rent per year in Banana Island move to Gbagada because of N500k?

ZaddyJ:
You guys should stop spreading confusion up and down naw. The Saudi Arabia,Qatar libya who use their oil money to better the life of their people do they impose property tax on them ?
When we are supposed to be learning from the Arab countries we will allow one IMf to dictate the state of the nation for us .
Stop all this confusion that breeds suffering its getting stale and nothing is working anymore with it . We are tired of all the gibberish u guys are selling and it's not making a headway

Im tired of this reference to Middle East Countries. The Whole indigenous population of Qatar is like 600k and they produce similar oil to Nigeria and like 6times more gas than NLNG.

That's like the entire Nigeria's wealth spent on an area the size of Lagos state with 1mln people living in it. Would such need property tax!!??

SmartPolician:
Lagos State started collecting property taxes long ago. Afterwards, APC folks will be celebrating Lagos' huge IGR, but nobody cares about how it's being generated.

If other states tax their people the way Lagos State taxes residents, their governors won't be re-elected.

N12k Land Use Charge na property Tax?

Im not sure even houses worth N500mln in banana Island pay up to N50k, when they should be paying like N750k annually.

On a $400k house in Houston, you will pay like $6k annually.

If Lagos properly targets property tax from the wealthy in VI, Banana Island, Ikoyi, Oniru and Lekki ph1, they can easily raise like N10bln

jmoore:
If Kemi Badenoch talks about how terrorists have stopped farmers from coming to farms, vultures of babablus will attack her.

It is only in hell that these things can happen.

Honestly! Does Nigeria of today seem like a functioning state?
Ipob
Killer herdsmen
Iswap
Boko haram
Militants
Ritual killing
Kidnaping

Then when one president said Nigeria was a shit hole and another one said fantastically corrupt, Nigerians went to town venting! As if it isn't true!

Blazetrailer:
This is completely wrong

Propserity of countries is not measured by their budgets but by GDP, GDP per capaita, NI per capita and other similar indices.

Country A might use expansionary budgeting approach where such budgets are funded by loans ans other obligations while another country B may chose a conservative balanced budget approach where it spends just as much as it earns.

Fine, lets go to GDP. Sebi Nigeria has now dropped from number 1 to number 4, which is our normal position. We were only at number 1 because it was being propped up by an artificial overvalued currency.

If you've been to South Africa, you'll be wondering how Nigeria can have a bigger GDP. South Africa has 40,000MW of electricity powering auto manufacturing, diamond, gold and coal mining, robust tourism sector, largest banks on the continent, HQ of SHoprtite, MTN and many conglomerate businesses.

What does Nigeria have? A paltry 1.5mln barrels a day oil industry and Dangote Industries. Asides these two, what other industries do we have that are home grown? Maybe add Glo to that, but we all know Glo is struggling. And you really thought we had the largest economy?

And since you like per capita income, South Africa's is $6,200. Ours is like $1000.

Kobojunkie:
This is a nation of over 150 million Nigerians that is being run on nothing but lies and propaganda.

If I'm not mistaken, OPEC doesn't count condensates because it does not form part of the quota, while we tend to include it here when announcing production numbers. That's usually the cause of the apparent mix up.

mrvitalis:
When u start feel good project with no economic analysis this is the results

It's like building a 5 star hotel in a village with borrowed money then your builders steal your materials

Nigerians want to have bullet trains, nice airports, sweet streets with a GDP per capita of less than 1000 dollars LMAOOO joke of the century

I was telling someone Tinapa failed because there was no economic basis for the project he said it's lack of maintenance... I said lack of maintenance is a symptom of the problem not the problem

There is no establishment that would be profitable and not be well maintained it not possible even with the worse leaders... When a project runs on losses the desire to maintain it drops

I disagree with you on Tinapa. The business case was reasonably solid. The main reason it failed was lack of FG support and the next Governor -Liyel Imoke - abandoning it.

During Donald Dukes governorship, Calabar was becoming Nigeria's tourist hub. Many people were leaving Lagos to go there for Calabar Carnival, then to Obudu cattle ranch and shopping at Tinapa.

treesun:

..Says Nigerians impoverished, burdened by policies





https://www.vanguardngr.com/2024/11/mbf-to-tinubu-rethink-subsidy-removal-naira-devaluation/

The policies could have been done better, but those subsidies HAD to go!! Simply unsustainable. We are a poor country!

Most people who read this will say what about our oil riches...

How is South Africa with no oil able to have a budget of $133bln, while ours, even with our plenty oil is $32bln

Even Egypt that has never been know as an oil giant has a budget of N98bln

This oil has made us damn lazy for the last 40 years!! And while other countries have built industries in key areas that generate tax and export revenue...not to talk of tourism, Nigeria crossed its legs and went to sleep as the oil flowed.

Bobloco:
https://dailypost.ng/2024/11/11/ex-minister-gwarzo-kicks-against-dismissal-from-tinubus-cabinet/

Typical warped thinking of a Northern politician. IS Ministerial position based on a queuing system? It can be given to any qualified person, who may not even be a Minister.

LoveThemChubby:
If we had a government, every embassy would be ordered to refund all or 90% of all rejected Visa fees. Just imagine the display of ignorance and the number of people that liked it. This is how we ignorantly fan the emblems of hatred against our government and nation. Where in the world are Visa fees refunded? If you are ignorant and hate Nigeria and or her government, stop recruiting people to do same.

Honestly, the shallowness of the average Nigerian youth is shocking!

No basic understanding of how the world works.

Edygrin:
The sooner we realise that these foreign embassies are using us to cashout the better for us.

In 2023 about 150,000 Nigerians applied for US Visa and according to the US embassy the application fee is about $185 which is about N305k and only about 5% of the 150,000 people that applied were successful, meaning about 142,000 application were rejected which amounts to just over $26M.

Meaning the US embassy in Nigeria made over $26M in 2023 from rejected Visas alone.

If we had a government, every embassy would be ordered to refund all or 90% of all rejected Visa fees. But here we are, we keep making money for these countries while we're still indebted to them via loans.

I just have to modify to add that in naira that amounts to over NGN43B, that's the allocation of an entire state in a year, and that's for the United States alone, now do your calculation for the UK and others, you'll understand why these people will never allow Nigeria to work.

Why would they refund it? What of all the labor and manhours used to review those applications? What of all the back office work people have to do to schedule those interviews?

Did they beg folks who have almost zero chance of getting the visa to apply? If 120,000 people who had zero to 10% chance of getting the visa didn't bother applying and the embassy only had 30,000 applications to process, then they would need less staff and the fee night only be $85

Tellmeastory:
The man that some so-called Nigerians love so much actually hates the very look of your faces, and wants nothing to do with you.

How shameless is your slave mentality to even consider supporting this racist man?

According to the UK Guardian newspaper, a few years ago, ''Donald Trump bemoaned a lack of immigrants to the US from “nice” countries “like Denmark [or] Switzerland”...

His words:

https://www.theguardian.com/us-news/2024/apr/08/trump-immigration-north-europe

And what's wrong with that? The man has his preferences like anyone is entitled to. Same way you have your preferences over which country you want to emigrate to! Abi of I give you North Korea PR, you go collect?

SadiqBabaSani:
So beat that gay loving woman.

Thank God for Trump Victory it shows that you can stand on the path of morality and still win.

Those Nostradamus people that said one useless prediction of Kamala are dunces.


This blood sucking demoncrats should go kiss their useless asses.

Trump all the way

I don't like Trump as a person, but if I were an American Id probably be voting for him for the following reasons:

Stance against LGBTQ nonsense
Stance against senseless immigration
Stance against senseless wars in middle east and Russia Ukraine


Though I also don't agree with the Republican stance against gun control.

kettykin:
This is what every northern states should do now. Build your gigawatt plant. Eastern states should build gas plants. Let's see if Nigeria will not change overnight.

Seriously lacking in vision. If every northern state did a 100MW Solar plant to at least cater for their state capital and augment what they get from the grid, we would have made progress. Some northern state capitals don't even need 100MW, cos they have no industry, so they could sell the rest into the grid.

China will deliver 100MW solar plant for you in 18months if you are serious, cos they have a glut of solar panels at the moment.

mrvitalis:
Really don't know why we like foreign investors like this

Say this company invest 100 million dollars.. And after 5 years they start taking profit back home... Over 30 years take a billion dollars... Have they grown the economy or reduced it

Compare that to this

Gombe calls 100 of its most successful citizens
There is opportunity in solar, 100 million dollars, we want you guys to invest in it

We would provide u with land 25% funds for 30% equity which u can buy out at any time

They make the money, the money largely remain in gombe

Good point. We lack a lot of vision in this country. We do not create solutions. We just like to throw money at contractors/investors to come and solve them for us.

twosquare:
Because he was living a fake life now. He fcking borrowed to the extent that we now use 95% of our revenues to service debt. I wish there were another way, seriously.

That's why we are here...if not, sure collapse. Nothing more.

I agree with you. As painful as it is, subsidy removal in petrol, electricity and forex is the right thing to do!!

We will just bankrupt ourselves trying to keep forex steady and petrol cheap and live a life we cannot afford as a country.

Islie:
• Passengers reduce holiday, casual trips

• Airlines cut weekly frequencies to save cost

• Experts blame decline on naira devaluation, fare increase




https://leadership.ng/economic-hardship-foreign-travel-drops-by-60-in-lagos-abuja-airports/

Not sure I trust these kangaroo reports. This year I've flown out of the country twice - in March to the UK (Royal Air Maroc) and July to Qatar (Qatar Airways) and the flights were pretty full both times. In December I will be in Toronto and we'll see how full the plane is.

It was gathered that an economy seat to the United States of America that was N350,000 prior to the floating of the naira in May 2023 rose to between N2.7 million to N3 million, thereby, making foreign travel a necessity and no more a fun[b][/b]

And that statement above is false... Economy to USA has not been N350k in like 10 years. Even as at 2022 I was in US last, I flew with like N1.3mln

Basicend:
Truth is; when Tinubu speaks on this issue, it contradicts what Dangote had said. .

When Dangote speaks, it contradicts what Tinubu and oil marketers had said. .

When oil marketers spokesperson speaks, it contradicts what Dangote, Tinubu and NNPCL had said. .

When NNPCL speaks, it always contradict what Dangote and oil marketers had said. .

So, they are all dribbling to the left and right. . You can't hold any of their words.

The more you try to look, the less you see.

Chameleons!

Honestly!!! I don't see why its so hard for all of them to just come clean