₦airaland Forum

Just40:
their govt is projecting 19 billion dollars for 2023.
Yes it is true

As at October, I knew Kenyan debt servicing had skyrocketed to around 1 trillion shillings. Dunno about now.

rvp2018:
It's insulting to compare kenya with Nigeria because even when it come to simple Oil and Gas - kenya companies dominate the region - all the way to Mozambique in south - South Sudan in the North. Even Central Africa - Kenya trucks are now going there.

Why cant you even hack the OIL and GAS business? I saw one Nigeria company being bought by NPP - I think it had 10 gas stations

You're just ignorant and proud of it.

Kenya outside South Africa - is the regional economic powerhouse.

Nigeria - your banks are doing okay - the rest of the sectors - you are DEAD as DODO.

Go to about 10 of these regional countries - Kenya is top 1-5 investor/trading/name it.

What is NPP?

obaaderemi:
He needs the attention of Nigerians like fish needs water. He has been cursed with serious inferiority complex and must always compare himself and his wretched country with others to feel sane, no matter how much he is kicked around. Something is broken in his life. Even if his own countrymen dare to reject his ideas, he deals with them and they run away with their tails between their buttocks. It's pathetic.
But I'm here to continue flogging him.

Lol it's actually a waste of time to reply him. He knows even companies like Flutterwave,Interswitch, and Silverbird amongst others are way bigger than what he has mentioned. We actually went through this with them before in 2017, so doing it again from my end is for me an insult to Nigeria and a waste of time .

I read somewhere Ghana wants to exchange gold for petrol rather than dollars due to the low dollars in reserves.

I think this is a good policy and Africans should wake up and try to find substitutes for the U.S dollars.

What do you think? @vaxx, Just40??

gallivant:
No need, Kenya is far better in all aspects. Don't need a huge rice mill to hammer that point in.

Because there's nothing.

Nigeria To The World!
African Giant, By A Long Mile.

Part 2

A List Of Africa’s Firsts

1) First African nation to win U20 football world cup - Ghana

2) First African to win a Gold medal in an international sports event - Major Emmanuel Ifeajuna - 1954 -Nigerian

3) First African to win world footballer of the year - George Weah - Liberian

4) First African nation to launch a Central Bank Digital Currency (CBDC) - Nigeria

5) First African labour leader - Michael Imoudu - Nigerian

6) First African to win a Pulitzer Prize - Dele Olojede - Nigerian

7) First African Geologist - Prof. Mosobolaje Oyawoye - Nigerian

First African woman to become a Geology Professor - Francisca Oboh - Nigerian

9) First African woman to become a Physics Professor - Deborah Enilo Ajakaiye - Nigerian

10) First African man to become a Physics Professor - Prof. Alexander Obiefoka Enukora Animalu - Nigerian

11) First Female President in Africa - Ellen Johnson Sirleaf - Liberian

12) First female Acting President in Africa - Slyvie Kiningi - Burundian

13) First African woman to win African Footballer of the year - Mercy Akide - Nigerian

14) First African man to win African Footballer of the year - Salif Keita - Malian
15) First African man to climb mount Everest - Sibusiso Vilane - South African

16) First African woman to climb mount Everest - Saray Khumalo - Zambian

17) First African nation to host a football world cup and the first in the world to host U20 WC - Tunisia 1977 U20 WC

18) First African nation to own nuclear weapons - South Africa

19) First African nation to build a humanoid - Nigeria

20) First African to win a Booker Prize - Ben Okri - Nigerian

21) First African woman to win a Booker Prize - Bernardine Anne Mobolaji Evaristo - Nigerian

22) First African to win Orange Prize - Chimamanda Ngozi-Adichie - Nigerian

More

1) First African woman to drive a car - Funmilayo Ransome-Kuti- Nigerian

2) First African woman to buy a car - Madam Efunroye Tinubu - Nigerian

3) First African man to own a car - Menelik II Emperor of Ethiopia - Ethiopian

4) First African man to drive a car - Sir Thomas Jones Nigerian

5) First car in Africa - South Africa 1896

6) First African to head the United Nations - Boutrous Boutrous Ghali - Egyptian

7) First medical doctor in Africa - Nathaniel Thomas King - Nigerian

First military female pilot in Africa - Asli Hassan Abade - Somalian

9) First non military and non commercial female pilot in Africa - Melody Millicent Danquah Ghanaian

10) First female commercial pilot in Africa - Chinyere Kalu- Nigerian

11) First African to fly solo around the world - Ademilola Odujinrin- Nigerian

12) Africa's first male chartered accountant - Akintola Williams - Nigerian

13) First female charactered accountant in Africa - Chief ( Mrs) Olutoyin Olakunri- Nigerian

14) First female novelist in Africa - Flora Nwapa- Nigerian

15) First African to win a Nobel prize in peace - Albert Luthuli- South African

16) First African nation to gain independence - Liberia

17) First African nation to join the United nations - Liberia

18) First African nation to launch a telecommunication satellite - Nigeria

19) First African nation to launch a satellite - South Africa

20) First African to head the world trade organization - Ngozi Okonjo-Iweala -Nigerian

21) First African to start a tv station - Obafemi Awolowo - Nigerian

22) First African nation to have a TV station, WNTV now NTA - Nigeria

23) First African man to own a private university - Gabriel Igbinedion - Nigerian

24) First African musician to be certified a gold disc - Victor Uwaifo -Nigerian

25) First African woman to win a Nobel prize - Wangari Muta Maathai - Kenyan

26) First African and woman to start a university - Fatima Al-Fihri - Tunisian

27) First African nation to have a university - Morocco

28) First African nation to win a football world cup - Nigeria U-17 world cup 1985

29) First African to win a Nobel prize in literature - Woke Soyinka - Nigerian

30) First African Father of African fiction - Chinua Achebe - Nigerian
31) First female mechanic in Africa - Sandra Aguebor - Nigerian

32) First female African dredge master - Captain Londy Ngcobo - South African

33) First African billionaire - Mansa Musa -Malian

34) First African female billionaire - Folorunsho Alakija - Nigerian

35) First female professor in Africa - Prof. Adetowun Ogunsheye - Nigerian

36) First man to become a professor - Prof. Kenneth Dike - Nigerian

37) First Bishop in Africa - Samuel Ajayi Crowther - Nigerian

38) First African country to win an Olympic gold medal in football - Nigeria

39) First African country to win the rugby world cup - south Africa

40) First African woman to travel to every country in the world - Jessica Nabongo -Ugandan

41) Africa's first father of modern art - Ben Enwonwu -Nigerian

42) First African musician to hit 1 billion streams on apple music - Wizkid - Nigerian

43) First African artist to hit 500 million streams on Boomplay - Burna Boy - Nigerian

44) First African woman musician to headline o2 arena - Tiwa Savage - Nigerian

45) First African to shutdown o2 arena - Davido - Nigerian

46) First African to hit 20 and 30 million monthly listeners on Spotify - Ckay - Nigerian

47) First African deputy Secretary General of the UN - Asha Rose Migiro -Tanzanian

48) First African UFC Welterweight champion - Kamaru Usman -Nigerian

49) First African UFC heavyweight champion - Francis Ngannou - Cameroonian

50) First African cardinal - Lauren Rugambwa - Tanzanian

51) First African woman to drive a train - Saida Abad -Moroccan

52) First African man to travel around the world - Olabisi Ajala - Nigerian

53) First African to head the WHO - Dr. Tedros Ghebreyesus - Ethiopian

54) First African to head the world medical association - Dr Osahon Enabulele - Nigerian

gallivant:


Those questions were tailored to suit a narrative. Largest rice mill! Come on!

Oya tailor your own to suit your own narrative if na so e easy to tailor.

rvp20182:
What will make your be proud of Nigeria? You cannot be suffering and smilling - with empty patriotism and nationalism.

You want to take pride of human achievement as Nigerians. That is what build patriotism and nationalism.

Kenyans wherever they go proudly wear the kenya flag and know we have done well at least compared to our region despite not having oil or diamond.

What can you take pride of as a NIGERIAN today. Your country is total mess - both domestically and internationally - and has serious image problem.

At least Ghana can be proud to be in world cup though they will exit in 1st round as always. Kenya we proudly represent africa race in althetics. That helps build our patriotism and nationalism as long distance conquerers of the world.

Nigeria To the World!
African Giant, By A Long Mile

1) Largest country in Africa by land mass - Algeria

2) Largest country in Africa by population - Nigeria

3) Largest movie industry in Africa - Nigeria

4) Largest democracy in Africa - Nigeria

5) Richest Black man - Nigerian

6) Richest African woman - Nigerian

7) largest single solar power plant in Africa - Morocco

Largest Museum in Africa - Egypt

9) Tallest building in Africa - Egypt

10) Largest rice mill in Africa - Nigeria

11) Largest fertilizer plant in Africa - Nigeria

12) largest oil refinery in Africa - Nigeria

13) largest fish farm in Africa - Egypt

14) largest cement plant in Africa - Nigeria

15) largest tea farm in Africa - Kenya

16) Largest music industry in Africa - Nigeria

17) Largest stadium in Africa - South Africa

18) Fastest train in Africa - Nigeria

19) Longest subsea gas pipeline in Africa - Nigeria

20) Largest city by population - Nigeria

21) Largest news network in Africa - Nigeria

22) largest car race arena in Africa - South Africa

23) largest pharmaceutical industry in Africa - Nigeria

24) Fastest woman in Africa - Nigerian

25) Fastest man in Africa - Kenyan

26) largest stock exchange by market capitalization in Africa - South Africa

27) largest stock exchange by number of listings - south Africa

28) longest concrete road in Africa - Nigeria

29) largest airline in Africa - Ethiopia

30) most streamed musicians in Africa - Nigeria

31) most awarded artist in Africa - Nigerian

32) largest mall in Africa by structure - Morocco

33) most valuable tech startups in Africa - Nigeria

34) most valuable company in Africa - South Africa

35) largest economy in Africa - Nigeria

36) Most tribes in Africa - Nigeria

37) Most languages in Africa - Nigeria

39) Largest seaport In Africa by size - Morocco

40) Largest university in Africa by area - Nigeria

pinkPUSSY:
Why singling out only SS while Ondo and Lagos are equally there?

Clown that doesn't know when she shot himself on the leg.



Meanwhile, what has Buhari done about high poverty rate that jumped to 133 million Nigerians under his nose ?

133 million people in poverty also has more to do with lack of accountable state Governors and local Governments everywhere.

Those five Neutral Governors are the PDeeAPC. God bless them,

IGpro1:
Nigeria has a cumulative budget bigger than all subsahara African country and 3rd biggest in Africa, just behind Egypt and Algeria. At $5billion while Kenya is just $1.8billion.

Nigerian army just won Africa's best land forces 2022.
Learn to measure with your equals. Nigerian military is way above your reach.

https://punchng.com/nigerian-army-wins-africas-best-land-force-award/

It's the audacity for me. If this were to be South Africans or Algerians claiming this, then I would have little to say, but Kenya? my god.

Iconic marina train station Lagos. One minute video.


https://www.youtube.com/watch?v=YvJe3uC2D1k

rvp20182:
Look like Nigeria cant hold the Naira anymore - expected to be devalued to 650 to a dollar

Biggest Devaluation in Six Years May Be on the Cards for Nigerian Currency

Africa’s largest economy is expected to devalue its currency after elections in February by the steepest margin in six years to align it with market perceptions, according to a survey of investors and analysts.

Nigeria operates a multiple exchange regime dominated by a tightly controlled official rate, cutting off access to many businesses and individuals, which in turn drives demand to the unauthorized black market. This has led the spread between the managed and parallel markets to significantly widen. The difference is almost 77%.

Of the 13 participants in the Bloomberg poll, 11 expect the Central Bank of Nigeria to devalue the naira after the election. The remaining two predict it will continue with a gradual depreciation of the currency that started with the adoption of the more flexible NAFEX, also known as the investors and exporters exchange rate, last year.

“There will be a major devaluation either on President Muhammadu Buhari’s way out or in the first few months of the new administration,” Ikemesit Effiong, head of research at SBM Intelligence in Lagos, the nation’s commercial hub, said in an emailed response to questions.

The scale of the devaluation may be influenced by who wins the presidential vote, said Daniel Sodimu, sub-Saharan Africa analyst at FrontierView, who estimates the naira’s fair value at 650 against the dollar.

“If a pro-business leader wins the election, then it is likely a devaluation would be sizable enough to make Nigeria’s economy smaller than South Africa’s, using the official rate to convert,” Sodimu said. Such a move would help stop the shortage and rationing of dollars, which have been a drag on business operations in the country and an overall disincentive to invest in Nigeria, he said.

An incumbent party retaining power may see modest changes such as “the current crawling adjustments to the exchange rate will remain, so it will keep Nigeria as the largest economy, on paper,” Sodimu said.

https://www.bnnbloomberg.ca/biggest-devaluation-in-six-years-may-be-on-the-cards-for-nigerian-currency-1.1847025

Speculation??

National Theatre Lagos

Kenyans just recently secured an IMF deal like Egypt. What I don't understand is why the Kenyans here are trolling Ghana, as though their situation is any better. Worst of it all is that while Ghana is seeking 3 billion dollars like the big boys they are, Kenya is seeking a paltry 433 million dollars.

IMF Reaches Staff Level Agreement on the Fourth Reviews of the Extended Fund Facility and Extended Credit Facility for Kenya
November 8, 2022

IMF staff and the Kenyan authorities have reached staff-level agreement on economic policies to conclude the fourth reviews of the 38-month EFF/ECF arrangements. Kenya would have access to about US$433 million in financing once the review is formally completed by the IMF Executive Board.
The new government has expressed strong commitment to the IMF-supported program.
The economy remains broadly resilient. However, volatile international commodity prices, tighter external financing conditions, higher inflation, global slowdown in growth, and continued drought have created a challenging backdrop for economic policy making.
Kenya’s program is helping the country through these global shocks by anchoring policies to support inclusive growth while addressing debt vulnerabilities.

rvp2018:
Quick check it's 4200 in Nigeria though it's probably 6000 naira in major cities like Lagos due to transport system that broken down...in Kenya with 10 cement companies and plants all over the major cities..I am sure it's you can cheapest now for 550.

It's around 4000 naira not 6000 naira. Even if we should agree with you that Nigerian cement prices are high ( by your logic), you can see that the prices were also quite stable throughout the year even with the inflation and the Ukraine war.
That's the effect of local production. It leaves things under your control to an extent, all you have to do is get more dominant local players in the Market and the prices would eventually come down. There are three dominant cement manufacturers in Nigeria (Dangote, BUA, Lafrage) due to how matured they are in the business and because they have great capital, but there are several other small players growing and with time when we have 6 dominant cement manufacturers across the regions, the cement prices would crash from 4000 naira.
The key thing is that it has been quite stable in price even with the global problems, because of local production by big players in Nigerian stock market (Dangote, BUA, Lafrage).

Mkenya2019:
Go to google - type lagos+kidnapping or just click this https://www.google.com/search?q=lagos+kidnapping

1) When did Lagos-Ibadan expressway become Lagos?
2) Where is the evidence that companies are refusing to come to Lagos because of kidnapping in Lagos-Ibadan expressway?

Do you know what Lagos-Ibadan expressway is?

EKONGKING:
Kenya has all the potential to become a prosperous country in Africa .

Kenya by luck, can count Obama,Rishi Sunak ,Suella Braverman as them via ancestry.
These might not seem important , but it matters as these people will have a little bit of soft spot to country of origin of their parents .
A dynamic president will utilize these small opportunities .

Secondly ,Kenyan total fertility is coming down ,which is very good news as parents can afford their children ,more resources for their development .

Most importantly, the future is in ICT (information technology) Nairobi has all the advantages , Good climate ,comparatively good infrastructure and talent .

William Ruto ,if he really want to transform Kenya ,should focus on human resources and infra .

They are many ICT professionals from African countries ,who want to relocate but unable to do so.


Lagos has advantage in human resources ,but due to security and currency policies , no leading multi national companies will come to Nigeria

Lagos has advantage in human resources ,but due to security and currency policies , no leading multi national companies will come to Nigeria

You spoilt your otherwise good submission above on Kenya with this. If you want to criticise Nigeria, criticise with facts.

(1) What is the security situation in Lagos compared to Kenya or better still what is that security situation in Lagos driving companies away?
(2) Are you saying there are no leading multinational companies coming to Nigeria?

As for the currency policies, you may have a point, but both of my questions above to you still stands.

Mkenya2019:
This 2020 report? Are you that desperate?

2022

Sub-Saharan Africa is strongly represented among the top 20 fastest-growing nation brands too, led by South Africa (up 23% to US$216 billion) and Tanzania (up 23% to US$41 billion) as the world’s 3rd and 4th fastest-growing this year, followed by Kenya (up 19% to US$80 billion) and Ghana (up 16% to US$57 billion).

Fastest growing is different from the top. Nigeria still top in 2022.

The brand value of Africa s’ biggest economy rose to $241 billion in 2022, the highest in three years, from $236 billion in 2021, the 2022 Nation Brands report has shown.

BusinessDay analysis of the report by Brand Finance, a London-based brand valuation consulting firm, ranked Nigeria as the top nation brand in Africa for the fourth consecutive year

Although I am proudly Agbado but I must say Peter Obi and Okowa impressed me today on average.

Kyase:
Buhari messed up big time walahi
That closing borders and banning of some foreign items without proper backup really messed with the economy
Taxation is another thing, though we are under taxed as a nation but we aren’t ready for it
I miss pdp for this walahi
But make we talk true
Buhari work
The next president should face the economy, Buhari no get economic brains

That closing borders and banning of some foreign items without proper backup really messed with the economy

It wasn't a bad decision. The problem was the rise of Bandits who disturbed greatly that progress he hoped to acheive in 2021 leading to early 2022 which he didn't nip in the bud at their early stages then.

Angelfrost:
So, why are Nigerians suffering massively??! Why has corruption remained high?!!

How is the economy still free falling along with the Naira?!!

Okay. But you challenged us to name something Buhari has done not what he hasn't done.

Angelfrost:
So, Nigeria is currently standing on a firm foundation??!

Please, in what areas or sectors is this nation doing better than past administrations??!!

How can this be the best since 1980s with more deaths than countries at war, increased poverty, more unpayable debts, lower standard of living, higher inflation (historic), etc?!!

Let me await your answers before I continue... I will like verifiable evidence, cos the average Nigerians out there have never suffered this much in the history of this nation, at least not since the civil war!

Please, in what areas or sectors is this nation doing better than past administrations??!!

This administration have shown more will in providing some key infrastructures for Nigeria like:

Lagos Ibadan expressway
AKK gas pipeline (my favourite project)
2nd Niger Bridge,
More than 38 new Aircrafts for the army,
Equipment of our Navy thereby reducing piracy (no piracy so far in 2022),
Bonny Bodo Bridge (ongoing),
Npower,
Farmers Anchor Borrowers Program,
Zungeru power plant,
Lagos-Ibadan railway (started and completed by this Government),
First phase PH Refinery (to be ready this December),
Completion of Warri-Itakpe rail line,
Expanding Lagos-Escravos gas pipeline,
Increasing our rice production significantly and reducing imports of rice.

Numerous my brother/sister. Numerous.

Weirdgee:
No sane Nigerian will vote for BAT or Atiku Abubakar

Why? what is wrong with voting for BAT?

rvp20182:
That is a lot of money in the bank - kenya last I checked central bank cash reserve ratio is 20% - so banks can lend to folks. Nigeria 33% ?

Yeah, too much lending have been going on since 2021 because the lockdown from COVID was continued for way too long in Nigeria especially in Lagos the commercial capital, hence there is much cash in the system already. CBN gotta do what they gotta do to control the resulting inflation by in turn increasing CRR for the banks.

Dangote refinery

Powerstove for clean cooking founded by Nigerian CEO Esse Okey launches properly in Abuja.

Powerstove burns wood pellets like cooking gas and self-generates electricity to charge mobile phone and built-in 400mAh Lithium ion battery.

Nigeria Private Sector Growth Remains Robust
The Stanbic IBTC Bank Nigeria PMI edged lower to 53.6 in October of 2022 from 53.7 in September, but still pointed to a solid growth in Nigeria's private sector activity. Output and new orders rose sharply while purchasing activity increased at an accelerated pace. At the same time, backlogs increased for the second month, with sustained accumulation of outstanding business suggesting that hiring activity could continue in the months ahead. On the price front, input cost inflation was the weakest for three months, and selling prices also slowed

obaaderemi:
#250 naira?
It's 200naira already. Remove subsidy and see it go as high as #400. Nigerians will scream blue murder and throw out that government. As it stands, Nigerians are tired of the APC government and one of the reasons is fuel price. #250- is reasonable to the average Nigerian but anything beyond that will lead to problems.

As for Dangote and the refurbished refinery, there's no way they're going to sell below cost unless subsidy remains in place. It's a delicate issue. Weaning Nigeria off fuel subsidy will be difficult.

If the naira appreciates against the dollar significantly then it may be around 250 naira.

obaaderemi:
And how much do you think a litre of petrol will go for then?

If we play our cards right and assuming this fuel price remain constant, we could have something in the range of 250-300 naira. The naira would certainly appreciate by then if we increase our oil production to supply Dangote 300,000bpd and also meet an OPEC quota of 1.7million bpd.

obaaderemi:
I for one do not want subsidy to go. Nigeria is a poor country, dirt poor and poorly managed like most other African countries. Remove subsidies and watch petrol pump price go up to around 400 naira per litre. Prices of goods will skyrocket and the economy will not be able to absorb the shock. Reduce it, fine. And make sure it's judiciously used.

Subsidy would have to go once the refineries come on board moreso because of the loopholes and corruption that almost always exist with fuel subsidies that cost the country a lot.

Latest December 2023, NNPC would be having close to 200,000 bpd refinery from both Warri and PortHarcourt. We can afford to supply that at our own subsidised rate in naira and import the little left over (without subsidy) or take from Dangote where we have 20% stake. We can start to phase out subsidy bit by bit from the commencement of Dangote refinery. I love the fact that Buhari doesn't listen to IMF advice and has never cared about their advice that much even in 2016 when there was a recession.

IMF advice to float or devalue the naira at this time, is another policy I disagree with and commend Buhari for ignoring.

obaaderemi:
This is one grouse I have with the opposers of subsidy. Subsidy has its usefulness. Now imagine how much fuel will sell for if subsidy is removed entirely in the Nigerian fuel marketing sector.
Prices of everything else will go up.

We keep comparing how much a litre of gasoline is in Nigeria with developed countries, forgetting that these countries have a way of paying their citizens all manners of social support which is absent in Africa. So, let our government also do something in the way of social support using fuel subsidy. At least for now.

But I trust Ghana will bounce back. They've been here before and experience counts for something.

While I want Subsidy to go, it's also noteworthy to mention that those criticising Buhari today for not being bold enough to remove the subsidy, would have used the hikened prices from that removal today as a campaign tool against him and the APC .