₦airaland Forum

Why do we have to rely on growing on the land only. If every LG have a LG farm and Urban LG have green houses surely providing the vegetables we need would not be a problem, so why are not doing it, it is not rocket science that such mass cultivation would push all the prices down.

In the west they use green houses to grow most of their vegetables. So why can’t we take a cue.

Abi I lie🤔

Kukutente23:
Lol. 2015 rates? Who told you Nigerian senators were grossing 30m in 2015?
You're lying further now. You started this thread with a claim that our economy is $1.5trn GDP now you're shifting to 2015 and stillsaying it was$500bn then. So when exactly was our economy $1.5trn? Was it during 2016 recession or Covid 2020 recession?
What should point you to the veracity or otherwise of your claim is the tax to GDP ratio. Our tax collection is publicly available and that should give you an idea of what is realistic and what is not instead of just shooting from the hips.
It really makes no difference though even if you claim our GDP is $1.5trn when the quality of life does not reflect that for the average Nigerian.
But pls, Nigeria is not the biggest economy in Africa. So many factors point to that. We can't even feed ourselves to start with. 60% of household income goes into feeding in today's Nigeria so how does being biggest economy help us?

Go and check any threads regarding Senators pay, shehu Sanni revealed their salary since 2015. Their salary has not changed since then just like the minimum rate. In fact they were in the process of topping up their salaries when this crisis ensued after Tinubu removed subsidies. Hence why they are mute about it. I have a feeling they push it up once a minimum salary is approved.

Secondly I did not say our economy is 1.5 trillion. An economist said on Business week program. I agreed with some his arguments. Because a lot of sectors have actually been on the up pushing our GDP from 500 billion to closer to a trillion. But with Covid and Tinubu’s policies things have gone south but not as low as 250 billion.

Kukutente23:
Let's quickly put a lie to your figures. Each senator takes home a gross pay of N30m monthly. HoR takes much less. In a year, that is N360m per senator. With today's exchange rate, that is around $230k. In four years, that's $920k and not even up to $1m. So where are you getting your figures that Senators make $4m in a single tenure never mind HoR that earn far lesser. Mind you, income is not part of gdp not to mention loot but in even indulging you. In fact, loot reduces from your gdp. Secondly, you're misinforming yourself by thinking senators have been earning big since 1999. That's a lie. You also erroneously think all governors and legislators continue to earn $1m from the national purse even after leaving office.
Dude, get me what you're smoking!!

That was based on 2015 Naira rates. I did say they have dropped to just about $1 million dollars.

Some acknowledgements this

I believe the economy was around 500 billion in 2015 grew to about just under 1 trillion and then devalued to around 500 billion just like every other thing. The 250 billion given to us despite the new fintec companies, the creative industries, the real estate boom , and of recent the mass exportation of food to Nigerians in diaspora should have pushed the GDP upwards to $1 trillion just b4 COVID. Hence after COVID everything went down but not as low as 250 billion.

The article I wrote about 5 million Nigerians worth 1 million dollars was in 2015 and now with down turn events today, I believe that figure might have gone downwards to about 100,000 but definitely more than the 10,000 ascribed to Nigeria.

Even with the downturn events in Nigeria I believe we are still the biggest economy in Africa.

Kukutente23:
You mean 5million flats are sold for $1m in Nigeria?

A 2 bedroom flat in Eko Atlantic city is $1 million dollars,

We never mention bankers oh, insurance chiefs and private business men who are scattered all over Nigeria.

Gerrard59:
Nobody has $1M stashed somewhere lying fallow. That is not how wealth is generated or built. Two, if you believe it is 5 million, conduct your study stating the methodology used in coming up with that figure. That is how bold claims are made, not I no fit lie give you



Another thing to add, Nigeria's population is highly falsified. No one knows Nigeria's true population considering it is the only country where there are more people in arid areas than coastal regions.

https://www.economist.com/the-economist-explains/2017/06/20/why-nobody-knows-how-many-nigerians-there-are

Then, let's assume what you have up there is seemingly true, no reasonable person assess the wealth of a country's citizens with the loots of its corrupt politicians.

When it is obvious 450 in the National Assembly gets over 4 million dollars in a 4 year term and we had 3000 of them since 1999 not to talk of the number of Governors we have had since 1999. Start from that paltry sample which has already debunked the notion that there are only 10,000 dollar millionaires in Nigeria. When only one Governor paid his children school fee totalling almost 1 million dollars. Abi u dey under rock.

MrEverest:
One ridiculous thing about Tinubu supporters is how they like deceiving themselves by living in alternate universe that is far from reality.

Firstly, your topic is faulty. You said Nigerian economists yet your post referenced the opinion of a faceless individual.

Secondly, you stated that India with a population that is 6x that of Nigeria. Has less poor people in terms of percentage and is much more industrialized has just 3.5 trillion dollars economy but you and your faceless Nigerian economist believe that Nigeria should have almost half the size of their GDP

Our crude oil production prior to APC years was around 2.5 mbpd today it’s less than half! Agricultural output during same period was significantly higher than today that farmers are running away from their farms. Countless number of companies have all closed down and divested from our economy and more are still leaving by the day!

Despite all these tragedies that have befallen Nigeria, you believe that our GDP must have grown so magically to be 1.5 trillion dollars Go and check the actual 1.5 trillion dollar economies in the world and see if Nigeria is anywhere close to them.

Continue supporting a criminal and useless drug lord like Tinubu while fantasizing about 1.5 trillion dollars economy.

The problem with Nigeria is greed. You can have a 1.5 trillion economy but your developmental posture is skewed towards self consumerism instead of societal development which is what you see in other trillion dollars economy.

Secondly the Economist that talked about the 1.5 trillion economy is not faceless. Go to utube and watch Business Week by Rolake Akinkugbe Fulani yesterday one.

Kukutente23:
You mean every politician and top level civil servant, both serving and retired have millions of dollars in their accounts? Lol
Like $1m × 5m=$5trn in hard cash and not even gdp anymore!! Dude, lemme have what you're smoking!

That is why flats are sold for $1million dollars. Who is buying such properties. Definitely not Disaporas and definitely not Nigerians singing “ e bi pawa oh “

lastkingsman:
Which investments? I don't what cocaine you guys are taking. Multi nationals are leaving and about 767 companies shutdown in the last one year according to MAN. Rebase fire

As business are closing new business are opening up. That is life. What is happening in Nigeria is like snake shedding its skin, does that mean the snake have no skin any more.

Amidst the economy turmoil a 5 star Hotel opened in Lagos where Prince Harry stayed.

Gerrard59:
You are right. South Africa has the highest number of dollar millionaires in Africa. In sub-Saharan Africa, Nigeria comes second. But not five million Nigerians o. It is less than 10000 Nigerians.

https://businessday.ng/news/article/top-10-african-countries-with-highest-number-of-millionaires-in-2024/

I believe it is 5 million. How many public officers in Nigeria would admit they have 1 million dollars and we all know our public officers starting from our parliamentarians who get roughly 4 million dollars a year when all allowances are taking into account although that has been devalued to about 1.5 million or there about. To our Governors, Judges, super perm secs, some ministers in juicy portfolios. They are more than 10,000

25 years of Democracy means we have 7 sets of National Assembly members. They are 450X 7 = 3150 members minus a few 100 who came 2nd, 3rd, and 4th term. Just the legislature alone 3000 people not to talk of 36 Governors since 1999, then talk of super perm secs, accountant general that stole 109 billion not to talk of ministers in juicy offices, and head of parastatals.

In Nigeria I believe they are more than 5 million. If you take every regime since 1960 . The number surges up.

When I go on you tube and see a video showing 4 or 5 days I would not even click it. We want to consume something new.

Do you have that behavioural pattern, I do, always in search of the next big news.

Private Jets no be beans

SA - 63

Egypt- 23


Nigeria- 47

We are tailing SA, and we are supposed to be poverty capital of the world.

India actually has 23 this is a 3.5 trillion economy.

SA has 167 planes just checked the data again. Everything is in the public space this days.

Egypt Hotels -1250

South Africa- 4720

Nigeria- 14, 750


And we are the 4th largest economy in Africa. Like Burna boy said “ How”

This figures don’t lie.

Georgry:
Let me first and foremost acknowledge that I detest the government of President Tinubu and the way he is destroying the economy but Nigeria cannot be poorer today than 10 years ago, it's not possible.

The Internet has created new money in Nigeria and I believe by now, anybody that doesn't know how to make money from the Internet is cheating themselves, do you know why? The Internet brings the Audience you need, millions of Audience.


For example, 10 years ago there was practically no WhatsApp sales in Nigeria, today i know people who make a lot of money just doing dropshipping on WhatsApp and they make sales that is even more than what the traditional market sales don't make, in fact Importers now are being smart, they are now building a a large base of dropshipers, in such a way that their traditional store is now mainly for the showcasing of their products, those products are imported and the dropshipers sell the products, i know someone who makes on average of 20k selling luxury hair on WhatsApp, she sells a lot, let's assume she sells 15 in a month, that's a 300k monthly profit, Sadly this type of people are probably documented as unemployed and poor when she actually uses an iPhone 13 pro max and uses a designer bag.

Cryptocurrency trading, forex trading, content creation, freelancing, the Yahoo boys (unofficially) and loads of other opportunities scattered across Nigeria.


Go to some states like Edo for example, new buildings are springing up everywhere, Hotel,Night club, new Businesses like shopping malls, boutique, nice cars, these are primarily financed from the inflow of this new money, and yet all these are not documented.

Nigerians especially the Youth are creating new money, everybody should tag along, i am also trying to do that, life na small small.

You talk well.

Melagros:
COMRADES are speechless, guess work every time

Unfortunately the truth can shock one at times. India has 3.5 trillion economy but their people na dem dey japa pass for the world.

Bulldozer90:
Watch how rich expatriates will scamper to safety in FCT while watching to see if it'll continue. if it does, they'll do "au revoir"
With their businesses in months, followed by rich Igbo businesses.

Lagos is the last bastion of safety in Nigeria and if becomes a heaven of kidnapping then finally Nigeria is dead.

Bulldozer90:
Watch how rich expatriates will scamper to safety in FCT while watching to see if it'll continue. if it does, they'll do "au revoir"
With their businesses in months, followed by rich Igbo businesses.

Sanyaolu is shiiit I have always said so. Lagos is growing economically because of the private sector. Silly Sanyaolu has nothing to commission he went to commission Pastor Ashimolowo’s macarious light gardens.

lastkingsman:
It's a simple math. if our economy is 1.5trn USD, that means our gdp per capita is $7,500.

Now does average/middle-class Nigerians make $7,500 (12m naira) in a year?

APC is very good at cooking figures. The reality is 200bn USD and by the time Jagaban is done, it will be $100bn. They can cook whatever figures the like, reality is reality

The advantage of a large population is that in Nigeria you have a privilege few who are larger than some African population. For instance a while ago, I wrote an article 5 million Nigerians worth 1 million dollars. And I believe it. That is more than the population of Togo and about 17% of the population of Ghana.

lastkingsman:
It's a simple math. if our economy is 1.5trn USD, that means our gdp per capita is $7,500.

Now does average/middle-class Nigerians make $7,500 (12m naira) in a year?

APC is very good at cooking figures. The reality is 200bn USD and by the time Jagaban is done, it will be $100bn. They can cook whatever figures the like, reality is reality

It is the average middle class that are traveling 2 million to London on holidays. Do you think any other African travel the way we travel in Nigeria.

Surprised that they reckon Nigeria’s economy is about 250 billion when I heard Sanyaolu say that the Lagos economy has grown 5 folds from 2014. In 2014 Lagos economy was 70 billion X 5 would put in the region of 350 billion. How come the whole Nigeria is 250 billion. That is y I believe Nigeria’s economy is well pass 1 trillion dollars.

It is not my friend that said it is a 1.5 trillion economy. It was an economist on Arise TV watching yesterday. And I kind agree with him. U can go watch it on business week - Rolake Akinkugbe Fulani.

DMerciful:
With the way the citizens are suffering, does it look like a 1.5 trillion economy?

Oil output is 1.2 million barrels per day compared to GEJ of 2.4 million yet you expect this economy to be bigger than 2014?

India is a 3.5 trillion economy. People are still suffering there. They are the highest immigrant in the UK, USA, Canada, Australia and Dubai. They are leaving in droves from their country despite having a 3.5 trillion economy.

Fujiyama:
^^^


Okay...

I didn't know who Ola of Lagos was so I had to google him. I heard of saida boj for the first time a couple of days ago... and I still don't know who Needy is.

But this country needs more (high productivity) farmers, more (highly trained) healthcare workers and more (highly skilled) technicians. We need far fewer 'influencers', 'content creators' and you guessed it, 'ballers'.

Don’t u Nedu of the Hornest Bunch, podcast has been doing skits for about 6 years now as sexy Alhaji.

tensazangetsu20:
Nigeria has never even been a 500 billion dollar economy even during the PDP years. 1.5 trillion dollars. Keep on dreaming. By the time, tinubu is done with Nigeria. If our GDP is up to 150 billion usd, everyone should go for Thanksgiving.

There are a lot of new money in Nigeria. Young men that are property nagenets. People like Ola of Lagos, Sarah Boj, needy and co all this guys are balling and they did not exist in 2014.

Fujiyama:
^^^
'Content creation'?

For some reason this term has always amused me.

Aren't we all 'content creators' in one form or another? Does content creation deserve a different classification from the entertainment industry?

Someone please educate me.

They are different. That is why we have people like Daddy freeze today. In 2014 Daddy freeze was working in a radio station getting some pathetic pay. But today he is driving a Ferrari, now multiply Daddy freeze X 1000 and do maths, Nigeria as a nation has the Largest Content Creators in Africa.

So you get it.

Another sector that has blown is the real estate industry, which with some disarable ways can be validated using stringent instruments would help in determining the true GDP of the country.

We have not added the new kid on the block. Content creators, Nigeria has the highest content creators in Africa and I am sure if the algorithm is properly quarried it would devolve how much our content creators are making in a year.

SalamRushdie:
He is very stupid...does this look like bb1.5 trillion economy, if it was 1.5 trillion it will show in GDP per Capita which is not the case

It sure looks like it. The kind of money stolen in Nigeria any other country in Africa, Egypt, Algeria, or South Africa would have folded up. I believe our GDP is definitely above the so called 250 billion given to it.

A Nigerian economist believes our economy is actually the biggest economy in Africa and the indices used in calculating the GDP needs to rebased because of some obvious exclusions when calculating the size of our GDP.

He said apart from the fact that Nigerians in diaspora sends in $20billion every year the figure brought in by cash is probably twice the official $20billion more like $40 billion.

He now said in 2014 when our GDP was calculated there was no fintec companies. But today we have about 10 companies that has a capital base of $1 billion dollars.

Guys what do think, but one thing I noticed when travelling to Nigeria is the plane is always full of Nigerians going back despite the terrible economy. I once travelled to Namibia and the plane was 99% white. So I asked the person I was travelling with don’t your people travel home.

Most people keep on saying there is no tourist in Nigeria. Do you know who the tourist are in Nigeria. Nigerian Diaspora are the tourist in Nigeria.


Guys what do you think are we really a $1.5 trillion economy.

I would have thought Lagos state would be the first to provide electricity since it has moved from the exclusive list to the concurrent list. But as usual Sanyaolu na siddon look policy him dey do. So unconcerned, removed from the pains & agony of the people.

I said it b4 all Sanyaolu has done in his second term is Gallivanting all over d place.

Christistruth00:
Because the Governor would turn it into his personal property

That is what naturally happens in Nigeria. I think we have a long way to go.

booblacain:
Corruption. That is why.

The bottom line they don’t want their states to benefit from residual income which doesn’t make sense.

Qatar does it . Why not Nigeria States do the same thing. The money Yaya bellow used to pay his children school fee, if he bought a property in the middle of London or New York, the rental income from that property going to Kogi state would go a long way in alleviating poverty in the state.

Abi I lie.