₦airaland Forum

vaxx:
it is on nairaland bro.. front page

Lol. You just waste my time. No vex.

vaxx:
oga , wetin you dey ask , economy growth does not mean your economy cannot enter recession. If there is much more higher inflation, it will push the economy into recession. Even social issues like political instability can forced an economic into recession

Ghana had once face such experience before

Can you show me where Ghana ever faced a recession and still had economic growth?

What is the definition of recession?

vaxx:
simply because Argentina production and services are way doing better or has perform much more more better than the previous year .


And there is statistics for that

Can you show me this statistics? Note that Argentina was in a recession last year, so how come their production did better than the previous year and they entered recession? Do you read what you write before submitting?

vaxx:
Argentina is currently considering dollarization , they understand it is a sure way to curb inflation.

Peso is not under significant threat as naira , peso absorbed more external shocks than naira. Peso falls is part of economic reform effort, which might lead to stabilization in the long run, naira' problem are issues like oil dependency and foreign exchange shortages.

You can't compare orange and apple , they are both different types of fruit.

Naira is facing the same issue with Egyptian pounds ( foreign exchange shortages ).

Peso moved from around 380 in 2023 to around 1200 currently. Naira moved from 460 to 1600. That’s almost similar depreciation, so why is Argentine GDP growing in dollar terms despite the fact that they even had a recession?

Answer this straightforwardly, no shalaye.

Also, Argentina has a net negative reserves currently which is why they borrowed 20 Billion dollars from IMF recently. Nigeria doesn’t have a net negative reserves. So between Nigeria and Argentina, who lacks foreign exchange more?

vaxx:
oga, for international comparison, your economy will be converted into dollar using the current market exchange rate . If your goods and service production are calculated in naira , even if it gives you trillions so far it falls flat behind major world dominant currency (dollars), it simply means your country is basically not doing well. Argentina is even considering dollarization to curb inflation . Check peso , you will realized it is actually fluctuating rather than loosing values . Naira is the opposite .

What are you saying Oga? Peso lost value almost at thesame rate as the naira in early 2024 due to their devaluation. It has depreciated almost thesame way the naira depreciated since 2023.

vaxx:
Economy are quantify in dollar terms. For Nigeria to regain her position back as Africa largest economy, she must work on her currency, it falls just way below the normal or average curve.


In reality, Nigerians are not doing well economically, except you are earning in dollars, An average Nigeria has become more poreer.

No sir, economy is not measured in dollar terms. Dollar is only important here for global comparisons. This is why despite the rate of depreciation of the Argentine peso last year when it lost as much of a percentage as that of Nigeria, their economy did not shrink even in dollar terms.

rvp2018:
Yemi Kale and giant of Africa is now 188B dollar economy as Kenya is 130B.

Lol. We shall see.

I would quote this data by end of May or June.

Note that according to thesame IMF, Nigeria’s PPP since 2023 have been growing at a greater rate and not shrinking and for the IMF is often ranked first in Africa. Nigerian economy grew by 3.4% in 2024 for only the second time in a decade (the only other time was in 2021 after a recession in 2020).

Before the end of May, the GDP for Q1 would likely be released.

Ahead of its release, World Bank director in Nigeria said Nigeria remains the largest economy in Africa. This makes sense because Argentina and some other countries have also had their currencies devalued massively but they are still growing in dollar terms even though they faced a recession. So ignore IMF projections until Nigeria releases her gdp figures later on.

pluto09:
https://www.thisdaylive.com/index.php/2025/04/20/how-rabiu-bua-groups-historic-deals-in-dubai-will-revolutionise-nigerias-economy/?amp

BUA, Dangote, AA Rano, Sanusi Lamido, etc. Kano state just keeps giving.

CBN refuses to approve Access Bank acquisition of the Kenyan Bank until they divest from DRC and their London Branch has been reviewed.

Hardware is hard but here are 6 startups doing it in Nigeria.

https://techpoint.africa/insight/nigerian-hardware-startups/

Hardware startups in Nigeria have started making money, but there’s a catch
Terrahaptix and NEV Electric recorded a combined $16 million in revenue in 2024.

Terrahaptix has made notable progress. In 2024, Techpoint Africa learnt that the company had recorded $2 million in orders for its drones and other hardware products and had even expanded by exporting to South Africa.
CEO Nathan Nwanchukwu said the oil and mining industries represent their biggest drone market.

Brent crude’s plunge below $60 was an “overreaction” to tariff fears, says Gunvor’s Frederic Lasserre. Markets assumed zero demand growth, but the research head sees more upside ahead: “There is a better exit than the zero-growth situation.

Mpeace:
And it had to be Access bank. But then what is the quality of the assets being bought by Access bank. See what is writen in the article:

"This acquisition allows Access Bank to take up 100% ownership of National Bank, effectively removing National Bank and its bad debt overhang from the books of the Kenya Commercial Bank (KCB) Group, which previously held a majority stake"

I just don’t understand the Access Bank strategy. Their goal right from time has always been all about expansion. They are all over Africa but are quite small in most of these countries. I think they had to sell their operations in London and Drcongo in order to buy this Bank (a highly indebted Bank).
The Kenyan central bank is so relieved.

emmaodet:
Whatever befalls Nigeria is all her fault.
Who works in an oil. Company like shell, earning 3m per month with other income totalling 5/6m per month, yet doesn't diversity and invest part into other investment.
Rather, he is always in the club drinking to stupor, even owing the club owner debts. Owes the hotel owner debts for sleeping in 7 start hotels with his concubines, took massive mortgage for house and car just to keep showing off as a big man working with shell.
If such person is laid off after 20 years in service, it means he is a fool for not having any savings nor investment and if the children that were ignored, throw out of school for having a reckless father who comes home late, drunk and always beating their mother, not always dropping feeding money are all watching and hoping nothing befalls them when their father goes out of job, then, they are not any better.
Don't plan with Nigeria. Have your own plans

I agree Nigeria should have been diversified by now but the worries about low oil prices is not just a Nigerian thing though.
It’s a worry for all nations with oil as a major source of export except you are U.S and Saudi Arabia. Even in U.S, the uncertainty is affecting crude oil producers. The big producers like Exon with lesser operating costs may be able to cope with low oil prices but not small producers in the U.S.

theenchanter:
I don't really see any significance to Eko Atlantic but I believe it'll have immense impact in ibeji lekki axis. The lekki free trade zone being the biggest beneficiary, the road will link the zone to 9 states on a stretch.

It'll open up some areas around that location.

Dangote refinery, deepsea port and the proposed airport are also in ibeju. I expect that area to be another economic region in the state without the problems apapa caused Lagos in terms of gridlock cos the road will join the lekki epe Expressway to decongest that area.

True. I believe the Lagos to Ondo axis at least would be completed in a few years and that alone would open up the region greatly for tourism. The Calabar end begins next week.

theenchanter:
Quantum...... Just beside metropolitan. 25fls

U can see metropolitan site beside it in the third pics.

What do you think about the potential of the Lagos Calabar coastal road and its significance to Eko Atlantic and Ibeju Lekki?

“President Trump exempts smartphones, computers, and chips from the new tariffs on China”.

Even Trump don dey mellow.

zendi:
In fact, if Brent drops to $50, drillers will start winding down production, given Nigera's high cost of production. There are things I refrain from uttering here, to avoid triggering panick selling.

Even $50 is not good for U.S. They are now net exporters of crude and some in the U.S oil industry have also argued they don’t want crude that low. OPEC+ members like Russia and Brazil are also lamenting low oil prices because it would affect them greatly so I believe and hope oil prices do not get to $50.

Fitch upgrades Nigeria to B on back of string of reform measures

theenchanter:
effect of social media 😂😂😂

River park estate is owned by Mr Paul Odili.😁

Paul Odili made that claim in January but aside that I see no other evidence to support the claim that he acquired it. The Ghanaian millionaire also denied that the estate has been sold so I believe he may very well still be the owner.

Raider76:
Not when you have a government of oil import cabals. Every country is trying to protect its own industries from imports but we are proudly providing easy dumping grounds for other countries' refineries.

True but not the reason for the fall this past week. There is sell off from many emerging markets by foreign portfolio investors. The central Banks in all these markets now have to defend by providing FX from their reserves to shield the markets from the shortfall left by investors who want to take their dollars out. CBN has provided over 500 million USD this week alone to cover the shortfall.

Agbalowomeri:
And our naira refuse to gain against the USD

This is because investors are also selling our bonds due to the fear of crude oil slump. South Africa and Egypt facing thesame issue at the moment.

American dollar is getting weaker and weaker.

Uten9z:
4

Traore happens in an underdeveloped country, we have moved beyond that time .
Nigeria remains electoral Nation though, I don't think anyone can stake his life for it.

Nigerians who speak of Traore makes me laugh. We have passed our Traore era with the likes of Murtala Muhammed of the mid 1970’s.

Streetinvestor2:
Really so we are copying China system by rubbishing naira.We learn new things everyday .

No. Ours was because we had just around $4 Billion in net external reserves at the end of 2023. Even if CBN wanted to defend the currency as at early 2024, they had little to nothing to defend it with and could only cry and blame Binance then because traders saw the CBN wasn’t pumping in dollars and they took advantage of it taking it to 1600/1900 levels as at Feb 2024.

China has more production and exports than any other country on earth and as a result they have the biggest foreign currency reserves in the world ( their USD reserves is over $3 trillion). They make trade surpluses in trillions of dollars which even U.S doesn’t make.

That means Chinese currency should be the strongest in the world but the Chinese Government deliberately devalues it in order for their exports to remain cheap.

megawealth01:
Una wan rub shoulder with the ODOGWU ni?

They love it that way because it makes their products cheaper. This is what America hates about them because America cannot just devalue their currency deliberately like China. They purposely devalue their currency to make their products cheaper.

Gboss247:
Every sane person knows that foreign investors invest their forex in Nigeria to earn more forex which Nigeria don't have but borrow loans from multilateral organizations like World Bank, IMF, AfDB, Afreximbank Chinese Eximbank etc for foreign investors to convert their naira profits to dollars and repatriate back home.

Okay so you don’t want foreign investors, why are our minerals not out of the ground yet? Foreign investors are involved and responsible for getting resources out of the ground in almost every country because capacities differ. Without foreign investors investing first and then employing indigenous people who go through the ranks you may not likely start.

Without the likes of Shell, Mobil, Agip and Chevron investing in our oil sector and training our locals over decades we won’t have the likes of Seplat, Oando, and Aradel today.


You need two major things:

1) Experience/ Technic
2) Finance

megawealth01:
A whole EU calm down for TRUMP for negotiations but XI wants to rob shoulders with an "undemocratic" TRUMP. If China no bow eh. $500b not beans. Shebi na WTO they have run to?

The movie just begins...

EU is basically France and Germany and both economies put together are still twice less than that of China.
If any country can withstand a targeted trade war from the U.S, it’s China (even if they bleed). EU has far more to lose than China.

megawealth01:
Donald Trump is the real ODOGWU

Brent now almost $64 dollars from $61 in a space of 20 minutes 😀

Mpeace:
Hmmm.
What if the rest of the world actually respond to the US in like terms. US will face a serious fall in exports.

What countries begin to dump the dollar and replace it with other currencies for international trade...

EU are even beginning to entertain the idea of trading more with China and Brazil, India and limiting their exposure to the U.S. They are only worried about Germany and Ireland who would be hit hardest in the short to medium term due to their dependence on U.S for car exports (in the case of Germany) and massive U.S tech import (in the case of Ireland).

Germany is also considering withdrawing their 400 Billion dollars worth of Gold from the U.S.

EU playing safe for now though due to the reasons mentioned above but their leaders especially Macron are all irritated by Trump.

Sheuns:
The Chinese investors that are coming, have you bothered to find out how they secured such funds?

Do you even know that the Chinese government massively invests and supports local industries?

The Chinese Government is very wealthy and can afford to do that. They also have very educated citizens who are into mining.

Sheuns:
Something you should encourage your country people to mine, you’re inviting foreigners to come mine. Later una go talk say them use una resources develop their country.

Where is the capital? How much does our local investors have? Don’t we want FDI?