₦airaland Forum

Agbalowomeri:
In real dollar terms will show the reverse

In real dollar terms it is now slightly up if you use 750/$ as at May 2023.

NGX market cap as at May 2023 - 28 trillion naira (37.3 Billion USD)

NGX market cap as at May 2025 - 70 trillion naira (43.75 Billion USD).

vaxx:
so when Argentina paused her payment to her external creditors, did peso suddenly went up at 42 percent against the dollar? Infact Argentina case was a brutal mistake , they try pegging their dollar with the peso and it end up in a disaster .


Pausing debt payment does not improved economy fundamentals, sound economy does. Zambia is a case study.

Pausing debt payments plus record highs in gold prices does improve economic fundamentals.
Also, the new Government is yet to start spending aggressively in order to meet up with the IMF goals which were missed by the previous Government late last year.
It’s all four factors combined:

Record gold prices
Record cocoa prices
Slow Government spending comparatively
Paused external debt servicing

However, as long as inflation stays above 15% and your interest rate is high, the cedis would weaken again later in the year when the Government starts spending more.

rvp2018:
Its jumped 42% or more this year - so let see how it plays out. Aside from GOLD prices that are 30% high - nothing else justify such huge appreciation

They have paused most external debt servicing since 2024. That’s another crucial factor.
Nigeria on the contrary spent 2 Billion dollars on debt servicing in the first four months of this year coupled with tanked oil prices.

Just30:
MTN Ghana total asset value is s 4 billion dollars.

Nice.

Lagos - World’s fastest growing tech city in 2025. A fintech powerhouse.

https://nairametrics.com/2025/05/22/lagos-emerges-the-worlds-fastest-growing-tech-city-in-2025/

SohSoh:
me i don't understand what is really going on with Fidelity, they tried to explain, the court order few days ago, but i didn't understand it, my own is... are they going to pay the fine or not. #SohSoh

the link : https://nairametrics.com/2025/05/19/fidelity-bank-confirms-supreme-court-ruling-on-g-cappa-and-sagecom-computes-n14-billion-as-settlement/

I think they are going to pay but may not pay 225 Billion but 14 Billion or 30 Billion depending on what the court decides.
They would either use the exchange rate of 2005 when everything started or 2018 when the case was first taken to court.
Hopefully it is either of the two and not the 225 Billion which is due to devaluation over the years,

vaxx:
I do not need to attack you personally, I observed you are decorum with your choice of words therefore no need to attack your personality even if you fumble this time .

Straight to the point , there are many fintech payment in GH. From the likes of Ghanapay , zeepay, kowri , expreespay etc and many options I can't remember for now.. I am aware Ghana has about 200 company in the fintech landscape. Ranging from digital credit entities to remittances and transfer platforms.


Though based on volume of transactions , Nigeria might have a bigger edge but when it comes to success of the

What exactly are you saying? I am listing African unicorns in the Fintech space and you are telling me about Ghanapay and Zeepay? What da fvck.

theenchanter:
😂😂😂

It’s crazy 😊😆

vaxx:
MTn is not a monopoly in GH. They are other known contenders like telecel and airtel with strong customers base of about 45 percent market share or more . Though MTN Ghana has about 50 percent or more market share.

They are too many reasons mobile money payment is not successful in Nigeria like Ghana and Kenya , although there is a progress now but not as effective as that of GH and Kenya.

When it comes to fintech , give the Golden chain to GH and Kenya .

Lol. Your arguments are usually funny to me. You are the type that argues that white is black even when you see it clearly that it is white.
You are saying Ghana is a bigger fintech player than a country that hosts the likes of Flutterwave, Opay, Paga, Palmpay, Moniepoint, etc.
Only Kenyan Mpesa (which is a monopoly) can rub shoulders with any of these.
Stop smoking early in the morning 🤣

Just40:
Without Ghana, there would be no MTN. Don’t let anyone deceive you; even Ghana, with a smaller population in Africa, is one of the top two countries MTN generates its profits from. Let’s analyze the data from 2018 to 2022.

These are after Tax!

2018

Nigeria (NGN)₦145,685,901,000 ~$405 M (est.)≈14.0% (14.0%)
Ghana (GHS)GH₵754,676,000 ~$164 M (est.)≈18.0%
Top ranks: 1. Nigeria, 2. Ghana

2019

CountryProfit (Local)Profit (USD)Profit Margin
Nigeria (NGN)₦202,110,974,000 ~$561 M (est.)≈17.3%
Ghana (GHS)GH₵1,007,958,000

2020 (FY2020 profits)

CountryProfit (Local)Profit (USD)Profit Margin
Nigeria (NGN)₦205,210,974,000 ~$533 M (est.)≈15.2%
Ghana (GHS)GH₵1,394,895,000 ~$249 M (est.)≈23.3%
Top ranks: 1. Nigeria, 2. Ghana

2021 (FY2021 profits)

CountryProfit (Local)Profit (USD)Profit Margin
Nigeria (NGN)₦298,654,032,000 ~$728 M (est.)≈18.0%
Ghana (GHS)GH₵2,001,000,000 ~$339 M (est.)≈25.9%
Top ranks: 1. Nigeria, 2. Ghana

2022 (FY2022 profits)

CountryProfit (Local)Profit (USD)Profit Margin
Nigeria (NGN)₦358,892,894,000 ~$864 M (est.)≈17.8%
Ghana (GHS)GH₵2,856,000,000 ~$391 M (est.)≈28.8%
Top ranks: 1. Nigeria, 2. Ghana

(2023 data: MTN Nigeria posted a ₦137.0 bn loss (after tax) , so Ghana and other markets likely dominated profit in 2023.

So even though Nigeria gives MTN the highest total profit, Ghana gives them a much higher profit per user or citizen — about 3× more per capita.

This shows MTN earns significantly more per customer in Ghana, making Ghana its most efficient and high-yield market relative to population size. All thanks to these greedy leaders who they are in bed with them.

MTN is a monopoly in Ghana especially with the mobile payment there which worked. They couldn’t dominate with mobile payments in Nigeria amongst the middle class and rich because the middle class/ rich already had several fintech options. MTN have also been closely matched by Airtel and Glo all through their history in Nigeria and are now more closely marked by Airtel.

vaxx:
You are not abreast with fact. Ghana is the largest coconut producer in Africa . ( The major ingredient in most of your localized home or beauty cosmetics products. , the largest in West Africa when it comes to exporting of shear butter and yam. Also notable with plantain and cassava . The few I can remember for now .

When it comes to agriculture products, population and land size sometimes aren't a factor but technology ( Israel is a typical example of this fact) anyway I agree produce Large crops and legumes due to the large land size of fertiled land.

Ghana is not the largest producer of coconut in Africa, that is Tanzania. Nigeria is by far largest producer of Shea Butter and Yam. Nigeria has a huge market already for many things so we do not export as much plus of course bureaucracy.

For Shea Butter, Nigeria is the world’s largest producer and exporter (Ghana is not the largest exporter).

For yam especially, there was a decree by the Babangida military administration in 1989 banning the exports of Yam but Nigeria is by far the largest yam producer in the world.

Give me something similar or close to this list for Ghana in 2022.

“In 2022, Nigeria produced:
59.6 million tons of cassava (the largest producer in the world). Nigeria accounts for up to 20% of the world's cassava production, about 34 per cent of Africa's, and about 46% of West Africa's;[3]
47.5 million tons of yam (the largest producer in the world);[35]
3.3 million tons of taro (the largest producer in the world);[36]
2.6 million tons of cowpea (the largest producer in the world);[37]
6.8 million tons of sorghum (the largest producer in the world);[38][39]
2 million tons of okra (2nd largest producer in the world, second only to India);[40]
2.8 million tons of peanut (3rd largest producer in the world, second only to China and India);
4 million tons of sweet potato (3rd largest producer in the world, second only to China and Malawi);
369 thousand tons of ginger (3rd largest producer in the world, losing only to India and China);
2.2 million tons of millet (4th largest producer in the world, second only to India, Niger, and Sudan);
7.8 million tons of palm oil (4th largest producer in the world, second only to Indonesia, Malaysia, and Thailand);
572 thousand tons of sesame seed (4th largest producer in the world, losing only to Sudan, Myanmar, and India);
332 thousand tons of cocoa (4th largest producer in the world, second only to Ivory Coast, Ghana, and Indonesia);
3 million tons of plantain (5th largest producer in the world);
833 thousand tons of papaya (6th largest producer in the world);
1.6 million tons of pineapple (7th largest producer in the world);
3.9 million tons of tomato (11th largest producer in the world);
6.8 million tons of rice (one of the largest producers of rice in Africa,[3] 14th largest producer in the world);
10.1 million tons of maize (14th largest producer in the world);
7.5 million tons of vegetables;
1.4 million tons of sugarcane;
1.3 million tons of potato;
949 thousand tons of mango (including mangosteen and guava);
938 thousand tons of onion;
758 thousand tons of soy;
747 thousand tons of green pepper;
585 thousand tons of egusi;
263 thousand tons of sheanut;
150 thousand tons of coconut.
In addition to smaller productions of other agricultural products,[41] Nigeria produced about 2.2 million metric tons of fish in 2008”

vaxx:
There are many cooking oil sizes in Ghana too.but people will likely buy the bigger option if there is enough financial capacity Mr man, there is nothing Nigeria produces that Ghana is not also doing, even cote d'voire also produce nearly every similar items that is locally produced in Nigeria and Ghana. Gone are the days where industrialization is for only one particular country . It cut across many West African states now.

Goods and service in Nigeria aren't cheaper than Ghana , it only appears so because of the current weak Nigeria purchasing power. Take a look at internet and communication. It is way cheaper to call Nigeria from Ghana than vice versa, more cheaper options to browse and surf the Internet too. That is what everybody can literally relate too easily .

Nigeria economic can indeed crashed if it directly affect crude oil income and production ( A year is enough ).

Apart from Cocoa (which Ghana is second largest producer of), tell me anything else (in agriculture) Ghana produces the most in Subsaharan Africa or West Africa.

Nigeria and expectedly so is one of the biggest producer of almost every agricultural product you can think of from palm oil to rice to tomatoes to Ginger to sesame to maize, soybean, onions, etc. Nigeria is always either largest producer or at least one of the largest.

This is not the case with Ghana, Ivorycoast or West Africa in general and this is understandable because of your smaller populations.

Just40:
A list of the 2400 beggars who were repatriated to their home countries.

We are literally feeding you guys and you still come up here to make noise. Some of you run away from properties you stay in without paying accumulated months of rent owe.

138 Nigerians as a proportion of the Nigerian population is very small actually. Just disband them. We have hundreds of thousands of people from Niger Republic all over Nigeria begging. From the North to the South.
Makoko our biggest slum is filled with people from Benin republic and Togo.

zendi:
The rich also cry.

Big man big trouble.

The bigger the head, the bigger the headache.

This story doesn’t look real though. Sahara reporters and People Gazette for the most part are mostly all about political propaganda.

Saddamochieng00:
Another thing's that's often overlooked is that foreign firms 9 times out of ten will pay a higher price for produce compared to their local counterparts. So why should a farmer go through all the hassle of navigating middlemen when there's a bigger and more stable market willing to pay more for his goods?

Africa despite being the second most populous continent doesn’t consume much due to lack of or low availability of a standard credit system (amongst other factors).
South Africa has a standard database like that of Europe, Asia, and America hence they have the credit system in place (amongst other things) to help them consume more than any other country in Africa (in terms of value derived from the consumption). In terms of quantity however, Nigeria of course consumes the most being at least 3 times the size of South Africa.

Omihanifa:
The hausa man that bought it doesn't have the capital to rub the business.

Same thing also happened to NTEL

Telco is very capital intensive. Even Mike Adenuga struggled at some point and had to even leave Ghana.

Kenya is borrowing again via Eurobonds to pay off maturing Eurobond but borrowing at very high rate (9.9%).

fineboynl:
.which food have come down compared to last year? Please i meed just one or two?

He just mentioned maize, rice, and flour.

The .@FT just released its list of Africa’s Fastest-Growing Companies for 2025.

Nigeria and South Africa dominate, accounting for 79 out of 130 companies.

https://www.ft.com/content/1cae5285-ed13-47f4-ab24-81f58b535c07

Nigerian non oil exports increasing.

APM Terminals Apapa Records 31.5% Surge in Exports

APM Terminals Apapa has reported a remarkable 31.5% increase in export volumes for April 2025—its highest monthly figure since operations began in 2006. The terminal handled 8,687 twenty-foot equivalent units (TEUs) of export cargo, up from 6,606 TEUs in April 2024, underscoring a major milestone in Nigeria’s growing export momentum.

The significant uptick reflects years of sustained growth and strategic investment in export infrastructure, according to Terminal Manager Steen Knudsen.

“It’s advantageous for Nigerian shippers when ships depart our ports fully loaded with exports. Preventing ships from leaving empty positively influences the overall cost of shipments into Nigeria,” he said.

Knudsen attributed the growth to targeted operational improvements and alignment with national economic priorities.

He said, ““Our aim aligns with the Federal Government’s vision of transforming Nigeria into an export-driven economy. To support this, we launched a new rail service in February to expedite the movement of goods from the hinterland to Apapa port.

Additionally, we’ve expanded our yard capacity for exports and introduced dedicated truck lanes to streamline the process, reducing the time exports spend in the terminal and ensuring timely ship departures.”

This kind of news may just push oil prices towards the $70 per barrel mark soon again. Also it seems Libya may be having some kind of internal conflict again.

megawealth01:
FTNCOCOA

Cocoa just crossed the 10,000 dollars mark early this afternoon. It’s gone down to 9900 again though.

Nigeria is one out of the only three African countries that host companies worth over 1 Billion dollars despite the massive naira devaluation in 2024

Africa remains a marginal player in the global landscape of billion-dollar companies, accounting for just 1% of the world’s firms valued at $1 billion or more.

These companies are overwhelmingly concentrated in only three countries: South Africa, Nigeria, and Egypt—reflecting a stark imbalance in the distribution of capital, infrastructure, and investor confidence across the continent.

According to a report by McKinsey & Company, these billion-dollar companies operate across all major sectors, but six industries dominate the revenue landscape, collectively accounting for 70% of total earnings.

These are oil and gas, mining, retail and consumer goods, financial services, manufacturing, and telecommunications.

South Africa leads with 43 billion-dollar firms, supported by a well-established financial sector, deep capital markets, and a number of long-standing conglomerates.

Nigeria, despite persistent macroeconomic challenges, is home to one billion-dollar company—an achievement largely driven by the growth of its fintech sector and expanding digital economy.

Egypt also hosts a single billion-dollar firm, benefiting from its strategic location and diversified industrial base, which continue to attract both regional and international investors.

Although Africa’s overall share remains small, the existence of these high-value companies highlights the continent’s untapped potential. As digital innovation accelerates and more governments pursue structural reforms, there are growing opportunities for broader corporate growth.

You can check 🇳🇬 stock market without the internet. Dial *5474# and see the latest stock market information

- Olumide Adesina

AkoniMoipei:
The fall is not sudden but gradual, starting immediately after you rebased. Nigeria's GDP is just about in its proper place right now at around 180B — The Kenyan GDP is almost catching up at 131B. In fact if Tinubu does not pull up his socks the catchup will be complete before the decade ends. Whichever the case, dont confuse exchange rate dynamics and rebasing, the latter is done to keep up with the evolution in prices. Your president's decision to let the local currency float freely has seen naira lose 70% of its formerly artificially high value, which is exactly what we are seeing because your GDP has dropped nearly 70% from the heydays of the 2014 rebase. Just a point of note, you could have a trillion dollar GDP and I would not say its fake, even though I know it is. I never said so when it was 576. GDP is a very artificial number that depends heavily on how you measure it — exchange rates, inflation adjustments, and rebasing can all drastically shift the figure without reflecting any real change in people’s daily lives.

This is thesame economy that supposedly dropped so much in 2024.

The World Bank has said that Nigeria’s economy recorded its fastest growth in about a decade in 2024, driven by a strong fourth quarter and an improved fiscal position.

During a presentation on Monday, the bank’s lead economist for Nigeria, Alex Sienaert, said Nigeria’s economy grew by 4.6% year-on-year in the fourth quarter of 2024.

Quoting high-frequency business indicators, he said the economy continued to expand in early 2025.

He, however, warned that persistently high inflation remains a challenge.

MTN Group's Q1 2025 results are in, and Nigeria is back in business.

The Group posted a 10.4% and 17.9% increase in service and data revenue, respectively, with standout performances in Nigeria.

After years of navigating economic headwinds, MTN Nigeria's service revenue surged by an impressive 40.4% year-on-year.

This growth follows the implementation of a long-debated tariff hike approved by Nigerian authorities this year, the first such hike in over a decade.

“From a regulatory perspective, we were pleased with the approval of price adjustments for telecom operators in Nigeria, which the business started to implement from mid-February 2025, with the majority of adjustments taking effect in March,” notes MTN Group CEO, Ralph Mupita.

The tariff hike faced initial resistance, including public backlash and labour union protests. But the telcos prevailed, arguing it was a response to the challenges faced by telecom operators amid high inflation and currency devaluation.

MTN Nigeria's CEO, Karl Toriola, noted that while the full impact of the new tariff structure will be realised in subsequent quarters, early indicators suggest continued resilience in customer demand.

This strong performance was significantly buoyed by exceptional growth in MTN Nigeria, which recorded a remarkable 40.4% increase in service revenue. MTN Ghana also contributed substantially with a 39.5% growth in service revenue.

vaxx:
unproductive journalism. You don't even have the report .


9ja always behave like a babyy in need of mummy breast milk .

Anyway, for the first time in about 20 years , Nigeria might be paying for using Ghana keys on lotto numbers. It is entirely more or less free in Nigeria back then. Imagine it is the other way round, nigerians will have taken it up the street like this your non ending gas debt case..

Come on now. 31 million cedis owed by 2 countries. That’s not even up to $2 million in total.

Ghana should pay all her gas debts to Nigeria so we too can also effectively improve local demand😀

Benin, Togo, Niger also use Nigerian gas for years without paying yet they turn around to mock us that we have no electricity.

“Notably, in February, the Ghanaian government announced plans to negotiate with Nigeria's N-Gas Limited to settle a $37.5 million payment, part of the outstanding debt for gas supplied to Ghana's power plants.

However, the Managing Director of N-Gas has not confirmed or denied whether the payment was made”.

Just40:
your gdp shouldn't drop this much because of devaluation

I think it makes sense to me now thinking about it. In late 2022 and early 2023 your inflation continued to climb fast even to over 54% at a point. Nigeria’s inflation climb was steady but slower. Also, with Argentina, their inflation climb to circa 200% was almost at thesame pace with the devaluation of the currency in 2024. This means their dollar gdp was still connected to their currency gdp. In Nigeria, prices in general do not move at thesame pace as the devaluation immediately but over time.

So for instance if a piece of land cost 400,000 naira when naira was 400 in 2022, that land would have been $1000 then as well. In 2025, with naira at 1600, that Land should now be x4 which would be 1.6 million naira to make it remain at $1000.

But in Nigeria, you would probably find that the land has increased only x3 at most in several of these instances and for some x2 or x2.5.
So the land only increased to 1.1 or 1.2 million since 2022 (when it should have increased to 1.6 million at once with same volume of purchases or consumption). So the dollar value of the land still decreases by that much even though the naira value has grown tremendously.

In that situation, it would only take a few quarters for prices and consumption volumes to match up again especially if the currency becomes stable like we saw in 2018 and 2019 in Nigeria after a rough 2016.

We already began to see huge consumption and profits in over 90% of Q1 2025 results across all sectors. That shows price increase is catching up (e.g telcos only increased their prices in February 2025 for the first time since 2013 despite all the inflation and devaluation) and it also shows consumption power is growing again from low levels of 2023 and 2024 due to slight wage adjustments across board especially by the private sector and some states.

AkoniMoipei:
The fall is not sudden but gradual, starting immediately after you rebased. Nigeria's GDP is just about in its proper place right now at around 180B — The Kenyan GDP is almost catching up at 131B. In fact if Tinubu does not pull up his socks the catchup will be complete before the decade ends. Whichever the case, dont confuse exchange rate dynamics and rebasing, the latter is done to keep up with the evolution in prices. Your president's decision to let the local currency float freely has seen naira lose 70% of its formerly artificially high value, which is exactly what we are seeing because your GDP has dropped nearly 70% from the heydays of the 2014 rebase. Just a point of note, you could have a trillion dollar GDP and I would not say its fake, even though I know it is. I never said so when it was 576. GDP is a very artificial number that depends heavily on how you measure it — exchange rates, inflation adjustments, and rebasing can all drastically shift the figure without reflecting any real change in people’s daily lives.

The fall in 2023 was sudden. In 2015/2016 there was a recession due to change in Government (leading to capital flight for some reason) and low oil prices at $30. After the recovery, it picked up again until another recession in 2020 then picked up again in 2021 when the economy grew by 3.4%.
In 2023, there was no recession. We grew by circa 2.8% and in 2024 we grew by 3.4%.

So only 2023 and 2024 are strange in dollars gdp growth. These have nothing to do with 2014 rebasing but sudden devaluation in 2023/2024.

Unlike Argentina which had over 100% inflation to match their devaluation, our inflation only gradually increased, while our GDP PPP grew faster so the dollar lost its connection to the naira growth.

My point is that all that can change almost as quickly as well.

Analogy:

“Say a piece of land cost 400,000 naira when naira was 400 in 2022, that land would have been $1000 then as well.
In 2025, with naira at 1600, that Land should now be x4 which would be 1.6 million naira to make it remain at $1000.
But in Nigeria, you would probably find that the land has increased only x3 at most in several of these instances and for some x2 or x2.5.
So the land only increased to 1.1 or 1.2 million since 2022, when it should have increased to 1.6 million at once.
Hence, the dollar value of the land still decreases by that much even though the naira value has grown tremendously”.

Continuing from the analogy above, we can say it would only take a few quarters for prices to match up again with thesame consumption volume across board especially if the currency becomes stable like we saw in 2018 and 2019 in Nigeria after a rough 2016.

We already began to see huge consumption and profits in over 90% of Q1 2025 results across all sectors. That shows price increase is catching up (e.g telcos only increased their prices in February 2025 for the first time since 2013 despite all the inflation and devaluation) and it also shows consumption power is growing again from low levels of 2023 and 2024 due to slight wage adjustments across board especially by the private sector and some states.

AkoniMoipei:
Which figure? I quoted the entire trend and highlighted two significant areas showing the GDP fell from a high of over 500B when you rebased on 2014 to a low of 188 this year, is that outdated? You might need to rebase again or tell your president to do his f#cking job!

Does it make sense to you that GDP fell so suddenly only in 2023 and 2024? It’s simple exchange rate dynamics at play. When we rebase again or allow our inflation and purchasing power catch up completely with the devaluation in just a few months or years, the GDP gets back to circa 500 Billion dollars suddenly again, then you’ll come here saying the figure is fake.