₦airaland Forum

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Shma:
So I don't have a brain, or do I have glaucoma, or south Africans are superior - that you can debunk anything without proof then conclude with the term 'FACTS'... Even when the evidence is staring at you.

Go hide in the bush.

https://www.kbc.co.ke/budget-infrastructure-development-received-billions-under-jubilee/#:~:text=In%20the%20year%2C%20Kshs.,billion%20in%20FY%202019%2F20.

Read my other post

@shma

Your latest budget for energy, infrastructure and ITC... Was Ksh335 billion

South Africa
Public infrastructure - R812 billion
Energy - R9.2 billion
catalytic and blended finance projects(for infrastructure) - 17.2 billion
ISA fund-R96billion


In other words SA spend about $60-64billion on infrastructure a year and Kenya spends around $2.8 billion.....

Shma:
Mine is for transport too (lapset & phase 2 of SGR). Lemme drop the link.

nope.... Yours is your entire infrastructure budget

Shma:
@jl155. Count the buildings with green(safety) nets in this video.


https://www.youtube.com/watch?v=9zQvPTPpPps

why?

Shma:
Kenya's infrastructural budget is $1.8B (Ksh182B) annually.
South Africa's infrastructure budget is R50.4B ($3.2B) annually.

How can Gauteng's budget be equal to Kenya's? Or you mean it takes 3/4 of the entire South African budget leaving 1/4 for entire SA?

LOL!!!!!!

My bru the R50.4 billion you quoting is just for our roads

"Spend on road infrastructure will grow from R50.4 billion in 2021/22 to R72.7 billion in 2024/25"

But now you know we spend twice as much just on our roads than you do on your entire countries infrastructure ...... Let that sink in!!

AfriqueDuZuid:
Also in terms of industries and manufacturing

You will see new sites all over, new developments all over the country.

They should take a Google maps tour to see what's happening,

they won't since the facts don't suit their narrative

AfriqueDuZuid:
Just saw how Steyn city is progressing

The Modderfontein is all built up

aggg bru @Shma has no idea that Gauteng alone has an infrastructure development budget that is virtually equal to the development budget of the entire Kenya.....

Shma:
GTC is a single infrastructural development - an ultra- premium HOPSCQ with the largest scale & highest grade in Africa. It's also the most diversified trade complex in Africa.

Waterfall city is a city - compare it with Konza city.

And then I didn't even mention the $50 billion lanseria City project....

The fact is my bru I wouldn't be surprised if Gauteng alone is spending more on development than your entire country

Shma:
Skyscrapers are not little development. Also, I don't think there is any complex duo in your country like GTC. GTC is completed... Soon, it's going to win an award. Mind you, it has the largest board room in Africa, a shopping mall, a luxurious hotel, apartments, an office block, etc under one segment.

We have so many( extreme) new buildings that we don't post here. So don't be surprised that in your challenge, you might find Nairobi triumphing.

Waterfall City is alone is nearly a $10 billion project vs GTC which is a tiny $330 million project... Yet you have the ignorance to say we don't have anything like GTC?

Shma:
Very.... .


Long time!

long time? I can post thousands of photos of new development in Joburg in just the past decade....its not like in Kenya where every little development is celebrated.

Shma:
I also showed you Nairobi of 80s.

For a country like SA, Old is gold. That is what I know.
There is no serious development past90s...

Check this one out.

https://www.youtube.com/watch?v=XtgzRP3y5Dw

Don't just focus on the road ...... Check the surroundings too.

Disclaimer!
No one is comparing KENYA with SA.

You good bru?

AfriqueDuZuid:
I'm just happy we on the verge of regime change in 2024.

Lots of positive changes coming.

I expect ActionSA to be the kingmaker of 2024, I personally believe that given the right circumstances they could potentially overtake the EFF which imo have hit their ceiling like the DA.

My prediction for 2024:

ANC-47%
DA-22%
EFF-11%
ASA-8%
IFP-5%
FF-2.3%

theenchanter:
let me start by asking u, my laaitjie. What is PPP to u?

Explain it like u would to a 100l student.

As I've said already :

jl115:
ppp means purchasing power parity....as in prices of local goods and services have been taken into account along with the absolute purchasing power of the local currency.

In other words poverty figures won't be higher in countries with cheaper goods and services simply because of a stronger doller

What I also said:

jl115:
What you stated(bolded) is the problem when using nominal amounts to calculate GDP or poverty..thus economist use ppp since it takes into account differences in prices of goods and services as well as purchasing power of that specific currency.

Now please tell me where I'm wrong

theenchanter:
dude, economics was my major course.Unlike u that studied it as elective.

I don't even need google when it comes to economics.

now you talking kak my bru how can anybody that studied economics make a statement like this:

"PPP is for meant for each countries, the PPP rate in SA may never, in fact, is not the same with naija or egypt or any country around the world because prices of goods and commodities aren't the same there.
$1.9 in SA may be equivalent of $3 in Nigeria, for example."

And also you said poverty figures don't factor in ppp

theenchanter:
alright, I now see where u got it wrong.

What I posted earlier, which u reacted to is "PPP" in layman's term, not nominal GDP...... Reason I used the word "equivalent".

Nominal GDP is just GDP without adjustments for inflation.

no my bru , what reacted to was you mixing up ppp and nominal...also I studied economics as part of my degree, no need for you to qoute the definition of GDP nominal straight from Google

theenchanter:
lmao. See this laaitjie.

Who brought "nominal GDP" to d discussion, isn't it you? Keep scaling around, my laaitjie.

you said this:

"PPP is for meant for each countries, the PPP rate in SA may never, in fact, is not the same with naija or egypt or any country around the world because prices of goods and commodities aren't the same there.
$1.9 in SA may be equivalent of $3 in Nigeria, for example."

The above is true for nominal values not PPP

My response:

What you stated(bolded) is the problem when using nominal amounts to calculate GDP or poverty..thus economist use ppp since it takes into account differences in prices of goods and services as well as purchasing power of that specific currency.

iblawi:
western media won't show you this video.


https://www.youtube.com/watch?v=ABoxuvHzwz4

yeah they won't because this is animated... Probably from a video game

Shma:
That's not the point.

Anyway... Your math is still wrong.

If we go with 415 naira to the dollar, using 175 trillion naira... Then your GDP will be more or less $ 421Billion.

And if it's supposedly 417 naira to the dollar, then your GDP will be at par with SA(the unproven $419B)... With Nigeria being slightly ahead.

only problem is GDP is calculated on a base price of goods and services over a specific time.... Hence currency fluctuations will have 0 short or mid term effects on GDP..... South Africa rebased its economy by changing the base year from 2011 to 2015

So what you guys are really doing by trying to use current exchange rates to calculate GDP is actually just a whole bunch of nothing

QuietMynd:
Which source is that

CIA

Shma:
Can't be.

That is waaaaaay too small.

billion my mistake

theenchanter:
keep confusing urself thinking u're convincing me.

Little did this laaitjie knew that nominal GDP has nothing to do with difference in cost of living in different countries but PPP does.

No one uses nominal GDP to calculate any major economic indexes, neither did I asked u to use it.

Litterally what I said!!! And the opposite of what you have been saying!! You are so confused you even contradict your own posts

GeneralDae:
If the naira gets devalued from 417 naira to a dollar, South Africa would definitely go higher.

GDP is based on a fix price of goods and services in a specific base year..... Currency fluctuations don't have a short or mid term impact on GDP

@shma @rvp2018

South Africa's GDP nominal is officially $419 million as per the IMF

GeneralDae:
And it doesn't make sense to have on the one hand such poverty rate in terms of PPP and on the other hand such a GDP per capita in terms of PPP. Don't argue in simple terms, try to see the point I am making. I know there's a difference between GDP and poverty rate.

I get now what you are saying..... I will concede and say that the WB puts Nigerias poverty figure @40%

However it still doesn't change my original point that we subsidise unemployment and we still have one of the lowest poverty figures in Africa

theenchanter:
yeah, not 70%.

fair enough using world bank figures it is indeed 40%

theenchanter:
dude, there's no general PPP rate for all countries for comparison.

PPP is for meant for each countries, the PPP rate in SA may never, in fact, is not the same with naija or egypt or any country around the world because prices of goods and commodities aren't the same there.
$1.9 in SA may be equivalent of $3 in Nigeria, for example.

another one that doesn't understand the difference between nominal and PPP

What you stated(bolded) is the problem when using nominal amounts to calculate GDP or poverty..thus economist use ppp since it takes into account differences in prices of goods and services as well as purchasing power of that specific currency.

GeneralDae:
A 70% poverty rate (said to be 4th in Africa) by Purchasing power parity does not tally with a GDP per capita of 5500 dollars (PPP) when you compare us to the other 5 countries amongst the countries on your list. It's just logic.

we are talking about poverty figures not GDP per capita..... Please bru!! Don't be this ret@rded

GeneralDae:
So this is what you think I don't know? .Even in my last post you quoted, I already mentioned Purchasing power parity. Was thinking you were going to bring something different or not common knowledge.
So how does this go against my post and how did they take this into account with the 70% poverty rate?
BTW Nigerian poverty rate is 40% not 70%.

poverty is always measured using ppp..... That's why you saying your poverty figure is 40% and not 70% because of living costs is utter tripe.

theenchanter:
no, it doesn't.

yes it does:

GeneralDae:
Fallacy. Make your point and stop with the deflection.

ppp means purchasing power parity....as in prices of local goods and services have been taken into account along with the absolute purchasing power of the local currency.

In other words poverty figures won't be higher in countries with cheaper goods and services simply because of a stronger doller

GeneralDae:
Yes

no you obviously don't