₦airaland Forum

Appisko:
Top African countries with the highest FDI for the past 10 years

So Kenya is not even top ten? They haven't received a quarter of what Nigeria has received in FDI, yet they have the guts to speak about Nigerian FDI? So funny.

Kazikazi:
We have many stuff on ground. Too many to count.
In reality,what TZ has,naija should have 9 times of that since your GDP is almost 9 times

Lol. Tanzania is actually growing though and I have observed that next to Ghana it's the new country of interest for many black Americans and foreigners these days.
You guys have great tourist potentials ( more than what you're doing at the moment) alongside Egypt.

Kazikazi:
10 times?
I thought you are more than that? You have agriculture sector way bigger than Brazil, surely you should be in Brazilian leagues,why are you busy trying to prove youselves

The Nigerian Agric sector is almost the size of Brazil in terms of GDP ( and rightfully so) but there is no data on ground that states that it is bigger than that of Brazil.
Nigerians did not force the world to accept their GDP stats. If the IMF sees it as false, they would definitely bring their input to it and it would not be the first time they would have done so.

Your mistake is that for you, GDP is based on what infrastructure a country has on ground. This may be true to some extent but not 100% true. Equatorial Guinea for instance have an active oil sector and because of this they have one of the highest GDP per capita in the continent but the country is not even as developed as Uganda or Zimbabwe. The truth is, their oil sector is working and the size of their economy is great but their leaders have not invested in infrastructure.

Shma:
I can't agree more. Nigeria is a failed state. All investors are now moving to kenya.

Do you know what a failed state is? Some of you guys just use phrases for fun.

rvp2018:
any fool investing in Nigeria will soon lose their shirt.. nothing works there ..not even electricity or security or internet..soon like MTN n DStv discovered their broke gov will charge your an arm n leg in fake backdated taxes and penalities.You have to be total nuts to invest in Nigeria outside oil and gas

Then why is MTN and DSTV still in Nigeria making it big? When the Government penalized them why didn't they just pack up?

Shma:
Most of your thriving companies are subsidiaries. The rest are failing due to test of time.

What da hell are you saying my man. Where do you get your info from?

Shma:
If you want a glimpse of some of the failing companies, here they are:

OLX (classified forum), Efritinzs, Fero, Wiko, Wechat, Tambo Mobile, Easy Taxi, among several others.

But Nigerian tech sector does not look like it's failing at this point in time but rather moving to her peak.

Shma:
Don't be ignorant. Information is all over the internet.

Over the past few years South Africa, Kenya and Nigeria have become hubs of start-up creation. In 2019, Nigeria raked in $663.24 million worth of start-up investments, followed by Kenya and South Africa. But when it comes to the trend in shutdowns, Nigeria experienced more shutdowns at 61.05 percent as compared to the other two .

But our figure in 2021 is almost double that of 2019. In fact 2021 was one of our best years ever in terms of the number of start ups and our best ever in terms of funding. So if we are to believe your data, many startups in Nigeria probably shut down in 2019 only for us to have so many more in 2021 than we ever had in our history.

Just30:
Wow

Equatorial Guinea state oil company CEO has packed over 3 billion dollars of his country resources into Accra real estate..


No wonder real estate is so expensive here....

People are actually paying over 10,000 dollars a month in Cantonment, eii!!

@Vankelvin

That Equatorial Guinea is something else. A country of not more than 3 million people and amongst the top oil producing nations in Africa with one of the highest GDP per capita, yet no real infrastructure and majority live in poverty. We have a father and his son as President and Vice President and they both live like kings in the U.S. Most of their resources go to foreign countries and to the pockets of the ruling families, yet no African country seem to be concerned about this not even the AU. SMH.

rvp2018:
You sound angry. Can you help us interpret this table.

That table does not say Nigeria has better Agriculture than Brazil. You obviously don't understand it. Brazil makes more from Agriculture than we do but our Agriculture GDP is similar in terms of size. We have almost thesame population as Brazil, and Agriculture employs about 70% of Nigerians, that's a staggering 130 million people.
Brazil only have a more commercial form of Agriculture than we have.

samorobo:
The fact that we refused to sign Afcta and it restricted it from taking off shows our influence and power on this continent. I remember the whole of Africa sending delegates to come and beg buhari in Abuja.even Kenyatta did.

When we closed our border we had to beg Buhari because even some far away West African countries who do not share a border with us were affected. Benin republic as we know it almost crumbled .
We the citizens were the ones begging Buhari to have mercy .

Kazikazi:
Son,I don't understand since am illiterate

Do u wanna say Naija has big agri sector than Brazil and mexico? Are u sure these stats are coming from naija gov?

Nigerian GDP is about 450 Billion dollars. Agriculture sector is 24% of that which is about 108 Billion dollars. Brazil's agricultural GDP is about 119 billion dollars ( if I'm not mistaken).

rvp2018:
Mostly in OIL sector - that is just only FDI you'll see and it's only functional part of your economy. Fintech maybe - and Tech companies throwing money to Africa now.

So why did you lie initially that the country is not receiving FDI when it is the second in Africa?

rvp2018:
Nobody is deceived except Nigeria. Otherwise you would see FDI flowing to Nigeria. Nobody believe Africa statistics like those. They do their maths. Those that believe Nigeria should ask VW - they sold only 32 cars in a year

But from 2007-2019, Nigeria had the second largest influx of FDI just behind Egypt.

rvp2018:
Real development should match GDP figures. GDP should explain the development. Not the other way round. That development should be visible to the naked eye. If you go to a developed country or see a video - you dont need GDP figures to know it's developed - you will see it on the streets - right from the airport - to the roads - to buildings - to the cars - to the people - the enviroment - you'll know this country is doing great. You will see well tendered farms - with healthy looking animals and crops. You will see thriving industries. You will see great hotels and resorts.

South Africa figures are solid. Egypt figures are solid. Nigeria is horse manure.

This would mean Nigeria is deceiving the world and you are way smarter than all world organisations that have accepted this data.

CSTRR:
Yes, he has stated operation.
Sorry.

Aside Dangote, Indoramma is also big in PortHarcourt.

CSTRR:
With the dangote petrochemical and fertilizer plants set to open this year.

Nigeria would be the largest manufacturing of fertilizers in Africa, exporting to Africa, America and Brazil.

That is what manufacturing looks like.

Dangote fertiliser plant is already in operation I believe. He's already started exporting since July if I'm not mistaken.

AngelicBeing:
Your own sense is working in auto reverse if you don't know that every Embassy in Nigeria has a detailed comprehensive reports of the instability / insecurity ( hence they issue several reports warning their citizens to avoid certain states in Nigeria or completely avoid unnecessary movements while in Nigeria due to the terrible security challenges in Nigeria.

Your own sense is hanging in Aso Rock if you think the Embassies are not aware of how desperate Nigerians are to leave the dead country due to economic, security and political instabilities


Your own sense is hanging on Olumo Rock if you don't know, see and understand how terrible the sufferings are for millions of Nigerians who are hungry and cannot afford akara, milk and akamu daily as breakfast due to extreme poverty in the country as a result of the comatose and criminal politicians who have stolen generational wealth out of Nigeria.


Now buzz off, take your brain to a Brain Surgeon in Nigeria to help correct the tumor ravaging your senses not to see how bad Nigeria as a country as degenerated to as a result of the different layers of irresponsible leaders living in Abuja looting the treasury and making the country a cesspit of poverty, hardship, suffering and currently the Headquarters of extreme poverty in the world.


Now buzz off my mentions

I like the points you raised. But there's a question he asked I'll love you to answer or at least share your idea on.


If you think the problem is only the government, why many of the diasporans still doing their curny ways by still scamming the system over there?

Let me also ask you this if you don't mind: When you leave Nigeria (or if you have left Nigeria) would you still think about reinvesting in Nigeria or solving a problem or you just won japa like that forever?

Blinggirly:
What kind of job please, I'm a lady

You have to be careful. Most of these adverts are nothing but scams.

Goldentulip2:
Smh one can own a house on mortgage if u got a good credit rating even buy a Porsche sef on credit Chale

I agree but that's not what I'm talking about. I'm not talking about owning a house on Mortgage but just paying outrightly for a home. The credit system and mortgage is all part of the system in Europe that's different and a bit limiting in my opinion. But I understand why it could be your cup of tea.

justwise:
Tell me any sector in Nigeria that works. Mention one social infrastructure in Nigeria that you can depend on.

Do you know what those high taxes you are complaining about abroad is used for?

Do you know why Germany for example are able to offer foreigners free education?

I am saying that if there are rich businessmen who can set up private sectors to develop our economy rather than just waiting on the corrupt Government, we should not encourage them to sell all they have to go abroad in search of jobs or to start all over.

tensazangetsu20:
You can also say the same for the USA Canada and others. You see tech figures at six figures likewise healthcare. Majority of people don't work in tech. Minimum wage is 7 USD per hour though in some states it's much higher but then in Germany you get free healthcare. Your kids get world class education from primary to university. World class infrastructure too.

Yeah that's great. People who are not doing well in Nigeria and can find their way to get this higher standard of living should go. What I find confusing is when people who have lands or houses, or a good business, or a high paying job, or investments in Nigeria decide to abandon all to start all over abroad. Apart from the security situation maybe, I see no other reasonable arguement for this.

tensazangetsu20:
Probably in low skilled labour. Not so for high skilled careers in IT or healthcare. I know Devs working with companies in Germany and they are even paying them more than 2350 euros and they are living here in Nigeria.

Even for high skilled labour. The average Brutto (Gross salary) is 3750 Euros ( Also for blue card) and that is 2350 Euros net.
Your friend must be in a good tech paying job. Majority of people do not work in tech.

tensazangetsu20:
Bros I have a ton of German colleagues and na lie. My coworker is 19 years and has his own house. He also drives a porsche.

That's a minority, I tell you. Most pay rents and just live pay check to pay check. The average net salary is 2350 Euros for tax class 1 ( a single person without family).

justwise:
How do you know that?

Because I have lived in Germany and have a lot of relatives and information on the UK. That's why I said Germany especially.

Goztino:
Inasmuch as I do not condemn Nigeria, but anyone condemning moving out of this country in search of greener pasture is not being truthful to himself.

I find it funny when people say that an average middle man in Germany and the UK can not boast of 90million naira.
Let me ask you
Is it in Nigeria that an average middle man can boast of 90 million Naira?
Some guys are not being sincere to themselves and I don´t like that.
At least an average middle man in Germany and the UK are not poor and frustrated by bad government.

An average middle man in Germany and UK ( especially Germany) do not have lands and their own houses. They just work and pay almost half of the salary to the Government as taxes. It is easier for an average or middle class man in Nigeria to buy a land as an investment than for the average white man.
The people paying 11 million naira or 15 million naira from Nigeria to the UK or 8 million for Germany's blocked account are doing okay. What they lack are the basics from the Government. People in Germany get shocked when you reveal to them that you spent 10000 Euros or 7 million naira for studies, many of them get help from Government. In America many are into debts.
I'm not against relocating abroad when struggling but my logic is that one who can get 10 million naira in Nigeria or one doing well should consider and plan properly if it's really worth it.

colestephan86:
Don't mind the mumu people, when you get to Accra, there is constant power supply just as I have in Abuja. Go to their Norther region and there interlands.

I think the thing is with the exception of South Africa and Nigeria (or maybe a few others) in most African countries, the majority stay in their capital which is usually more developed than the other parts of the country in terms of standard of living.

colestephan86:
Friend you are talking trash,
Let me enlighten you today, any Nigerian man doing business in your country, have come there to build another niche there and also take advantage of you laziness so he can take your money away.
The electricity you have , what have you done with it so far. Just recently a French guy who has a chocolate factory in Ghana told the world that there is constant power outage in Ghana..
Stop fooling yourself

Are you saying the constant electricity thing is not in the entire Ghana? wow. The way they use it as a weapon against Nigeria, I thought it was everywhere in Ghana including their forests.

buJu234:
the point above is a big fat lie... also warri people are not rogue..

tell us the area; that u stayed in warri..

all over the world if u stay in ghetto areas; there are bound to be negative vices ok...

i believe u went to stay in the poor areas not in the good and wealthy side of warri?

I am wondering if it's thesame Warri I know. He definitely stayed in Ghetto areas mostly. Of course we Know Nigeria on the average has perhaps a bit more ghetto areas in the cities.

MILLERMannn:
Have you been to Bodija, UI, Akobo, Even Iwo Road. A beg leave me alone. I know what I am saying

I say it again, Ibadan has too many old structures compared to Warri. How many places have you been to in Warri? In Edjeba and Jakpa road, I found so many modern and beautiful houses. Driving around Ibadan for some days, there were so many old structures and cars and the quality of the buildings did not match that of many neighbourhoods I know of in streets inside Ekpan, Edjeba, Jakpa, Airport road.

MILLERMannn:
Did I need to reply you? Anyway I will do that. On the issue of Job, that is a no no. 80% of the material the companies are using are brought in from the West. Apart from oil company, name any other company in warri. You may want to mention Premium steel, my friend, steel is everywhere. Stealing right. The rate of stealing in warri is very high. You can't compare it with Ibadan. Can you walk by 9Pm in the city of Warri? Has regard to exam, I saying it with fact, that they all cheat in that place. There is no education there. As regard to yahoo boy, yes it is everywhere, but Warri people take it too high that they seem not to see abnkmaly in it. Even their fathers have started buying phones for their son for such demoralizing act.

My man, I once travelled to Ibadan from Warri and you can't compare. Warri in general has better houses and cars than Ibadan. Ibadan was below my expectation and I was disappointed. Jakpa road in Warri for instance was nicer to me than whatever I saw in Ibadan. Maybe because there are more oil workers in Warri though.

mtisQ:
I don't know what happened to Tayser..maybe he got a nice gal who doesn't want him to log here..
I hope he is well.For me I want to take a break.thread is not that bad but it's like a movie which doesn't have an ending

Oh I see. Well the thread to me it's just for fun though. Truth be told, I enjoy when the various countries post ongoing progress and infrastructure. Kazikazi for instance has made me learn so much about Tanzania, and I have learnt a lot about Kenya as well. Some of the banters are fun but most are boring to me like the arguements about skin colour, height, bullets/hunting, and even food (cc my man petrodollar ). But hey for me I'll just come in once in a while mostly to see updates on progress in Nigeria, Kenya, Tanzania, and Ghana of course.