₦airaland Forum

obaaderemi:
It can never get to that level. Ghana will bounce back sooner than later.

Even at this terrible state, the Ghanaian economy is much more expanded (bigger) than it was before and there are more investments than in the past.

In 2005 when Nigerian economy was expanding under Obasanjo we were having very high inflation and depreciation of the naira than we even had during sanctions in Abacha's military.

The only issue with Ghana now is that they have been shut out of the Eurobond market indirectly because the interest rates are high and lenders consider their debts unsustainable.
The exchange rate is also depreciating too fast.

With the coming of the IMF, they gain credibility again to borrow next year from international market. The lenders would believe the IMF program can help Ghana manage their debt properly.

obaaderemi:
The Ghanaians seem so quiet these days.

Mad oo

FunkeAyorinde:
Nigerians no like freedom. Una no like better thing. If not una for dey campaign for Peter Obi massively. Una deserve wetin hit una

So if I support Tinubu mean say I nor like better thing? Why you feel say you wise pass me because I choose Tinubu over Obi? Me feel say na you nor wise to choose Obi over Tinubu.

68816419:
1- 2: Kano state ( North West) : on of The largest Cancer treatment center is about to be commissioned in Kano state (Northern Nigeria)
Installation of modern equipment at the Kano Cancer Treatment Center , commences. Project will be completed this year

3-4 : Sokoto state (northwestern Nigeria) The $150m Dangote Rice Mill in Sokoto. Construction continues to produce 280,000 metric tonnes of rice annually through a 5.8MW power plant.

Some people would soon tell you Dangote has monopoly on rice too.

RelevantUpdates:
Definitely, with the refinery beginning operations, the price of fuel should go down significantly.


It is the essence of the whole investment.

International market determines price of fuel. Nigerian fuel at 170 naira is already one of the cheapest in the world and subsidized. Price of fuel may not go down. If subsidy goes then it may increase.

Shaytun:
Thai Rice Exporters Association in their reports indicated that Nigeria’a RICE IMPORTS from Thailand FELL by 98.4% to 15metric tonnes between Jan - July,2022 as against 957 metric tonnes imported in 2021.

Benin republic was Buhari's biggest headache in how they smuggled rice previously. One of the reason the borders had to be closed for a while then.

68816419:
Mad progress
construction of Marina Railway Station . Operations expected to begin first quarter of 2023 on the Blue Line.

This is what they are comparing to Ethiopian rail, lol.

1stGenAmerican:
Yes and the night before, people were still saying it was western propaganda.
The US intelligence sources began warning of the invasion in February.

How come U.S doesn't see most of the gunmen killing people across the U.S before they attack. Just an honest question.

Honjoshy4u:
You're been smart by half.
Go and watch the video. He said ' it is yoruba turn. And if it is yoruba turn, it is my turn'.
The question now is, how is it yoruba turn and his turn??
After the west has ruled for 8yrs as president and 8yrs Vice.

Post the part where he said it's Yoruba turn. I have watched the video, all I saw was Emilokan

PDP is actually the worst party.

I still prefer APC to PDP. Though a lot of PDP members are in the APC.
APC (especially Buhari, Osinbanjo, and Tinubu) all seem to have a socio-capitalist ideology which I subscribe to rather than the seemingly full blown capitalist ideology of the PDP especially in the likes of Atiku and Obi.

ednited:
Hmmmm

Hmmmm

ednited:
What was your formal name?

Hmmm Joyoung.

ednited:
Have you modified your user name??

Yope.

ednited:
I can't believe this thread is still keeping up. How are you all guys?

Why did you leave us ednited and where have you been?

Eriokanmi:
so that's the lie right? You think I'd just jump into 2012 post without knowing?

The thread was started in 2012 but was exhumed in 2022. The thread had now entered 22 pages which was extended to 2022 otherwise, I'd not have commented. My comment was based on the fact that it's stale so, why bring it up now...is obi still in power now? This is 2022. To further refute the op's claim back then in 2012, I attached Obi's handover note, showing some credit balance. Had he performed so woefully as claimed by the OP, such wouldn't have been achieved. The thread was brought up to tarnish Obi's image in their usual manner. To make people think he achieved nothing while in office.

It's an old thread but I wasn't the only one who reacted to it cos of the OP's claim back then Those who don't like Obi's candidature also reacted to it today, till the thread entered 21/22 pages, by extension

To further refute the op's claim back then in 2012, I attached Obi's handover note, showing some credit balance. Had he performed so woefully as claimed by the OP, such wouldn't have been achieved.

Why do you think leaving credit balance is a big achievement? It is laudable but increasing revenue of the state and thinking out of the box to provide lasting reforms is more laudable.
If you had option to save money in the bank and another option to provide 50MW of electricity specially for the Onitsha market without saving money, which would you do as a Governor?

JamaicanRum:
You have to understand that it's the political class that is to blame for all their misfortunes. Only problem is that the populace is hellbent on defending this same system and pretending to outside world that everything's fine while it's not.

Replying yourself is no fun. Man up.

rvp2018:
And the most stupid because USD exchange rate is beyond Ghana gov It cant control it; They are not the US Fed Reserve Bank

They know that, they are protesting due to high VAT's as well.

Wuoche:
Your BRT is failed.

This was not an accident though.

JamaicanRum:
As I said I'll try to be stoic in all our discussions and I don't expect the same from you but I know your heart is at the right place. All of us in here, though we may deny it, are Pan-African to the core and that's all that matters.

This is definitely Shma. Now I can confirm.

samorobo:
One bus and Kenya is moving away from fossil fuel .

and even becoming a market for Africa already .

Saddamochieng00:
Last night I was going through safaricoms yearly business report and for the sake of peace I won't go into much detail but let me give you a glimpse of what I'm talking about.



That figure stands at 97% today for 4g and 98% for 2g and 3g. As for our brothers in the West.

Again I don't know where you get your data from but our 4G coverage is not 37%.
Probably you are quoting old data. What I see is that Nigeria has improved 4G coverage from 23% to 77.52%.

“In August 2019, the broadband coverage was 33.7% and today it is 44.65%, representing close to 13 million new broadband users. There were 13,823 4G base stations and we now have 36,751, representing a 165.86% increase.
“The percentage of 4G coverage across the country also increased from 23% to 77.52%.

Digital Economy has embarked on the National Information and Communications Technology Infrastructure Backbone II, (NICTIB II) to connect 20 States with fiber optics that had not been connected in NICTIB I.”
What you should know

Recall that Nairametrics reported in July that The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, said that Nigeria’s broadband penetration recorded a quantum leap in the last 7 months from November 2021 to May 2022, with a record of 7 million new subscriptions.

Danbatta said: “Internet subscribers have grown from 90 million in 2015 to 150.36 million as of May 2022. Also, within the period under review, broadband penetration increased from 8% to 43.67%, indicating that over 83.3 million subscribers are on broadband networks of 3G and 4G. Indeed, between November 2021 and May 2022, the networks have added 7 million new users.”

Saddamochieng00:
Last night I was going through safaricoms yearly business report and for the sake of peace I won't go into much detail but let me give you a glimpse of what I'm talking about.



That figure stands at 97% today for 4g and 98% for 2g and 3g. As for our brothers in the West.

What's important is that Kenya not a bigger digital economy than Nigeria in terms of number of startups or performing digital firms even with the 94% 4G connectivity.

For example:

Nigeria generated more than $400 million worth of cryptocurrency trade in 2020, ranking third place after the United States and Russia.

Fourpockets:
Yes, but too bad their government is plunging their country into a debt crisis for a "shiny city"
They could have invested in other things that make money like refineries, rail etc

Exactly. A shiny city and yet they have 95% debt to GDP with no sufficient external reserves to withstand shocks from debt servicing like South Korea, Japan, U.S, etal.

South Africa's economy shrank in the second quarter, as floods and an energy crisis put a halt to months of growth, official data showed Tuesday.

The dip in output after two consecutive quarters of modest growth dragged Africa's most industrialised economy back below pre-coronavirus pandemic levels.


Hopefully floods in Nigeria this 4th quarter do not affect Nigeria same way.
It's not looking all rosy at the moment.

Just40:
Ghana may not end up going to the IMF, it hasn't formally engaged the IMF yet...

Possibly it will happen next year

Of course it can't happen this year because the IMF would insist on some form of internal debt restructuring and cut down on expenses. This takes a while. The deal may likely be agreed on by March 2023.

samorobo:
Doesn’t seem that way to me.
Pls read again.

Kenya is in thesame soup with Ghana by any economic report you look for out there on highest risk of debt default in Africa. The only difference is that Ghana has been downgraded by Fitch and Moody but Kenya hasn't.
While Ghana could easily solve this problem with the IMF in short term and gold in the long term, I don't know what the Kenyans are doing about theirs.

AfriqueDuZuid:
Kenya is no better, it's also part of the list

Egypt's debt is crazy mehn and mostly foreign debt. What were they thinking?
They are lucky they also get huge support from Saudi Arabia.

Kenya also have no access to the capital market from this report.

This debt thing is just like a trap especially when revenues are not high.

PROVERBZ:
I just know that Ghana for snot have 3biilion USD to find any project

What if it is a PPP project? I don't know about the 3 billion dollars though, but if it is 3 billion dollars, then the project could be also part of the high foreign debt of Ghana.

Kenyan export is even so small. Highest export is flower at 1.4 Billion dollars?? Tea is second at 1.1 Billion dollars?? damn.

rvp20182:
Nonsense.

I feel your pain . Go look for Kenyan mates man.