₦airaland Forum

https://www.youtube.com/watch?v=Jm7w9oKRhyM&ab_channel=EducatedAfrican

Kenya should learn from Nigeria


https://www.youtube.com/watch?v=Jm7w9oKRhyM&ab_channel=EducatedAfrican

https://www.youtube.com/watch?v=Jm7w9oKRhyM&ab_channel=EducatedAfrican

https://www.youtube.com/watch?v=Jm7w9oKRhyM&ab_channel=EducatedAfrican

https://www.youtube.com/watch?v=Jm7w9oKRhyM&ab_channel=EducatedAfrican

https://www.youtube.com/watch?v=Jm7w9oKRhyM&ab_channel=EducatedAfrican

[url]
https://www.youtube.com/watch?v=Jm7w9oKRhyM&ab_channel=EducatedAfrican/[url]

Netflix just bought this movie from Nigeria... In the beginning you'll see an Innoson car - proudly made in Nigeria rvp rvp2018 rvp2017


https://www.youtube.com/watch?v=v45GprEyM7U

rvp2018:
Yeah bigger than Kenya GDP and only generates about 1B dollars in revenue - despite being a state . You've got jokes. I am going to hazard a guess that when real GDP of LAGOS is finally computed - it's will be about the same as Nairobi or slightly higher. Nairobi is definitely better than lagos is so many matrix - the pictures says a thousand words.

Wait, hold up. You believe Nairobi and and Lagos have the same GDP? Just looking at population numbers alone... It's just preposterous.

Daejoyoung:
Nigeria has the second largest number of tech hubs in Africa( 58 to SA's 59).
Kenya as a whole has 31, same as Lagos alone in Nigeria.

Nigeria will soon take over as the country with the most number of tech hubs in Africa....

emeka1101:
More

nice

Nigeria has just commissioned the second largest brewery factory in Africa


https://www.youtube.com/watch?v=YL2QHHrMOkg

When the Nigerian Naira was stronger than the American dollar...

www.nairaland.com/attachments/7645686_dlmv8y5x4aaoh0m_jpeg82ea8231b538ead8d01907076abfcfe5

rvp2018:
From the data I have seen - Nigeria informal economy is around 64/65/70%(charterhouse,imf, nbs-yemi kale) OF GDP - which is nearly twice the sub-saharan africa average of around 30% - or what is expected of a developing nation (around 40%) or country in transition around 35% like Kenya(34%).

The likes of south africa,mauritus, botswana and namibia which are middle class countries have informal sector of 10-20%. South Africa informal sector is 8% of GDP and it employs 27% of her labour. Kenya's 34% of GDP and it employ 75% of our labour. Nigeria's 65% of GDP possibly employing 95%?? of her labour.

Now if you take 65% of 320B (let's take Yemi Kale cooked GDP at it' very highest) - you're talking 200B dollar economy that is informal and hard to tax. What remains is 120B economy with half of it oil (oil industry is already over-taxed!!) - leaving a nigeria formal sector of around 60B dollars - now slice that 60B into public formal (federal+state) and private formal - and you're talking PRIVATE FORMAL ECONOMY OF 30B dollars - which explain why you taxes you collect are about the same as Kenya. I bet that formal private sector is probably telcoms MTN & your banks : & insurances) and few companies in between owned by Dangote.

In conclusion there is very little wriggle room for Nigeria to grow it's revenue when it has a weirdly large (read GDP is cooked or economy is messed up like TZ - a former communist state with very tiny private sector) informal sector. Normally you'd expect informal sector of around 30-40% for developing economy at Nigeria stage but employing at least 70% (like in Kenya). Informal sector in Kenya is the main employer but it's contribution to GDP is 34% (from lows of 20% in 90s)...and we are working on formalizing our economy....with great help from M-pesa(mobile money). In retail & wholesaling - we are already second to south africa in formal trade (through super-markets & malls) at around 30% of people shopping in supermarkets rather than small corner shops - we are also formalizing transport sector - turning our dafno/matatus into co-operatives. The same is through for many small holder farming - I can go on and on - but we are making tremendous progress to move our informal sector from 34% to something like 20%.

Tax wise - you need to do lots of stuff - but first I'd say let mobile banking thrive - and you can be able to tax it. VAT/Sale tax - where are the ETR (electronic registers) that are complusory in Kenya for example.

IN SHORT NIGERIA IS SIMPLY TANZANIA OR DRC - MINERALS, SMALL PRIVATE SECTOR AND REST OF THE COUNTRY JUST GROWING TUBERS.

The last line made me laugh.. Yet Nigeria ranks as having some of the biggest companies on the continent- unlike DRC or Tanzania...
I'd also doubt the rest of the country growing tubers when 50% of Nigerians live in cities... unlike in Kenya where 70% live in rural areas...
No wonder Kenya has the highest number of informal employment in Africa.

small private sector ... I'm guessing you mean small formal sector? even still

Kenyanstar:
Sincerely speaking from an open mind, Nigeria has a very huge potential. Imagine if the Tax regime was formalized and actively used as a source of domestic revenue channel, the results are just mind boggling and a game changer to the ailing Nigerian economy. Over dependency on direct oil revenue is the reason why the Nigerian GDP has stagnated, if oil was to loose its commercial viability then traditional revenue sources and alternatives would have to be adopted. The Kenyan economy deeply depends on tax avenues that can sustain it without over dependence on natural resources but viable commodity resource collection. Imagine a population of 180m in Nigeria and a tax regime of 16% is implied on all commodities, that would be the turning point for Nigerian economy.

Nigeria is what I call wasted potential. Many developed countries can only dream of the potential Nigeria has

rvp2018:
From the data I have seen - Nigeria informal economy is around 64/65/70%(charterhouse,imf, nbs-yemi kale) OF GDP - which is nearly twice the sub-saharan africa average of around 30% - or what is expected of a developing nation (around 40%) or country in transition around 35% like Kenya(34%).

The likes of south africa,mauritus, botswana and namibia which are middle class countries have informal sector of 10-20%. South Africa informal sector is 8% of GDP and it employs 27% of her labour. Kenya's 34% of GDP and it employ 75% of our labour. Nigeria's 65% of GDP possibly employing 95%?? of her labour.

Now if you take 65% of 320B (let's take Yemi Kale cooked GDP at it' very highest) - you're talking 200B dollar economy that is informal and hard to tax. What remains is 120B economy with half of it oil (oil industry is already over-taxed!!) - leaving a nigeria formal sector of around 60B dollars - now slice that 60B into public formal (federal+state) and private formal - and you're talking PRIVATE FORMAL ECONOMY OF 30B dollars - which explain why you taxes you collect are about the same as Kenya. I bet that formal private sector is probably telcoms MTN & your banks : & insurances) and few companies in between owned by Dangote.

In conclusion there is very little wriggle room for Nigeria to grow it's revenue when it has a weirdly large (read GDP is cooked or economy is messed up like TZ - a former communist state with very tiny private sector) informal sector. Normally you'd expect informal sector of around 30-40% for developing economy at Nigeria stage but employing at least 70% (like in Kenya). Informal sector in Kenya is the main employer but it's contribution to GDP is 34% (from lows of 20% in 90s)...and we are working on formalizing our economy....with great help from M-pesa(mobile money). In retail & wholesaling - we are already second to south africa in formal trade (through super-markets & malls) at around 30% of people shopping in supermarkets rather than small corner shops - we are also formalizing transport sector - turning our dafno/matatus into co-operatives. The same is through for many small holder farming - I can go on and on - but we are making tremendous progress to move our informal sector from 34% to something like 20%.

Tax wise - you need to do lots of stuff - but first I'd say let mobile banking thrive - and you can be able to tax it. VAT/Sale tax - where are the ETR (electronic registers) that are complusory in Kenya for example.

IN SHORT NIGERIA IS SIMPLY TANZANIA OR DRC - MINERALS, SMALL PRIVATE SECTOR AND REST OF THE COUNTRY JUST GROWING TUBERS.

First off, there are several oil companies in Nigeria that enjoy pioneer status(meaning they barely pay tax).. There's still more income Nigeria can squeeze out of the oil industry.. Let's not even talk of the major corruption that goes on there

Secondly, do u realize Kenya has the highest informal sector employment in Africa?
https://www.businessdailyafrica.com/markets/Kenya-has-highest-informal-jobs-in-Africa-/539552-2765348-o23mb0/index.html

Furthermore recent stats, put Nigeria's GDP at around $370 billion
Also, Nigeria has one of the biggest stock exchanges in Africa.. Nigeria ranks among top 5 in Africa... It's market cap alone is over $44 billion and growing.. Think about the many other huge Nigerian companies that haven't even listed yet

It's no lie that Nigeria has one of the biggest private sectors in Africa
Your data about Nigeria having a $30 billion private sector is so wrong, it's funny...

I also found this... as recent as 2015

The NBS has released data showing the split of GDP between the formal and informal sectors. We learn that the informal economy amounted to N39.0trn in 2015, equivalent to 41.4% of GDP.

https://www.proshareng.com/news/Nigeria%20Economy/Nigerian-Economy-is-More-Than-40Percent-Informal-/31427

rvp2018:
It appear you vat is 5% federal and 5% state..10%..which below kenya 16% or South Africa 15%...but with nearly no formal private sector..you aint going to collect nothing.

Wait, so u believe there's hardly a formal private sector in Nigeria? I believe around 60 percent of Nigeria's economy is informal... And Nigeria's economy is much bigger than Kenya's... So there's a substantial Nigerian formal sector to compete with Kenya and sometimes South Africa.. And again there are several formal companies(including foreign companies) in Nigeria that don't pay tax...

Nigeria just has to get serious about tax and it could easily have a budget in excess of $100 billion

Kur17:
Which %age??

mid to high 20s

In Kenya and South Africa, it's much lower

Lionessza6:
Pretoria =city of Tshwane.

Good luck.

I don't know if you are asking or giving me your conclusions? Be clear on that part first before I teach you about Cape town.

Mainly asking.. Teach me about Cape Town

kikuyu1:
Gallivant,mtis,taysermahiri,kur17 and yobeezy aren't you tired? This annael thing is even dumber than the standard Dangotelander who can still learn,btw. Notice how they no longer brag about their economy-when is the last time they mentioned their 500 bn$ GDP?
Obadeeremi and daejoyoung lets rest momentarily the critical consumption data. Why does the 'Giant' have such an abysmal mortgage/GDP ratio? We've been trying to improve this for the longest time-what's your excuse,especially with your 'superior' banking and e commerce iinfrastructure ?

https://cytonnreport.com/storage/research/5adc8c05e7e614.85007528.png

3.1% to 0.6%. How,mofos when Tz is at 0.5% Pls explain fast so we can return to consumption data.

Seen the 2017 good country report? All nations are listed on a variety of indices reflecting their individual contribution to the global good in an annual index.



https://goodcountry.org/index/results

Guess who's 63 ahead of Fiji and Russia and 126 as usual keeping company with Lesotho and Burundi?

very high interest rates in Nigeria...

Lionessza6:
I'm surprised, I thought all of you live in lagos .

No Gauteng is a province /state . It's capital is the City of Tshwane, which is also the capital of SA. I live 100ks from it in Johannesburg.

Yes I do fully support.

South Africa will be a first world country by that time , where do you see Nigeria?

Will blacks catchup in what specifically , there are a lot things that were ruined for us , some we have caught up , others not. So you will have to be specific.

I though Pretoria was the capital?

It's kinda hard to predict Nigeria, but going by a general trend I see things getting better... less corruption, stronger institutions, better healthcare, robust transportation system... Going by vibes given from the likes of Dangote, I see Nigeria having some sort of rapid industrialization in the near future... Nigeria still does have a crack at being 1st/2nd world in the next 30 years... But of course, I could be wrong... Nigeria might remain 3rd world and eventually split up..

In places like Cape Town, blacks have lower standards of living like worse housing(shacks) and it seems sort of segregated... Plus the levels of poverty between whites and blacks is abysmal...

Lionessza6:
Lol, have we not improved in that and continue to do so ? Do you expect us to do miracles that you yourselves as Nigerians have failed to do. White South Africans have had a 400 year head start from non whites in the country , how do you expect that to be changed in less than 25 years when you in 50 years haven't even caught up with them. Like I have said before , we are still crawling , the time to walk will come. We have the biggest middle class when most of us come from poverty prior 94 . Out focus is on education and poverty alleviation , the rest we will tackle as we go along. You guys should focus on your own problems, because they seem bigger than what we have .


What do you want to know?

I'm from the eastern cape province but currently based in gauteng. Are you from Lagos?

Nope, Port Harcourt..
Is Gauteng a city?
Do u support land expropriation without compensation?
Where do u see South Africa in the next 25 yrs?? What about blacks? Will Blacks catch up?

Lionessza6:
Excuse you

108m Nigerians lack proper toilet facilities –UN

https://www.vanguardngr.com/2017/11/108m-nigerians-lack-proper-toilet-facilities-un-2/.


These are rural schools not urban schools , and schools that have been reported to use these latrines make up less than 1% South African schools . We are not planning on getting rid of them , we are doing it. We don't talk, we act . But what could be more disgraceful than an old man squatting in public in this day and age ?. Maybe in Nigeria that's a norm , but we certainly would see that as a human rights violation.

Very well then... South Africa wins this round... ur interesting..

naijalander:
This one is brainless.

Lagos is the city of palms, just say you haven't explored your own country

Yes I’ve seen palm trees in Lagos(VI) but apart from Abuja... I don’t know any other city that has lots of palm trees...
But as a human I may be wrong, show pics of other cities with lots of palm trees

But overall my reference to palm trees was only used to stamp my argument...

Lionessza6:
LOL, maybe I should pick up random good stories from naija , I'm sure that will change the fact that 70% of the population Still squatts under palm trees to relieve themselves, as they are too smart and industrious to build even a latrine .

40%... u won’t find much palm trees in Nigerian cities... which is why most open defecation takes place in rural areas.. but black school kids having to use pit latrines(which some fall into and drown) is much more disgraceful... but I heard SA has plans to get rid of the pit latrines

Lionessza6:
Lol, who wants to live in a slum with good roads, piped water , biggest hospital in the world , tourist destination, home to world icons , biggest gym in Africa? . I would prefer to live in a highly priced neighbourhood like lekki, where I will finally own a generator and get my lazy ass to install a borehole

Alright we’ve had our fun... Nigeria needs to improve...South Africa does better than Nigeria but could improve especially in inequality(blacks, whites)... bla bla

I’m interested in knowing more about SA... where are u from in SA?

Lionessza6:
Lol, no I wish I was a nigerian and live in the most populous African country , among industrious and smart black people, with the economy in my hands with a huge GDP ,. Maybe I would stop being a charcoal African and be euro looking African like yourselves . How I wish I lived in lekki, Soweto is an ugly slum

Ahhh, but Soweto is cheaper than Lekki.. I would rather live somewhere more affordable. after all I come from the poverty capital of the world

Lionessza6:
Lol, no ,we love buhari . We support his re election . Do you want to get rid of him for his brutal words ? " Nigerians are criminals " " nigerian youth is lazy" . ....president M Buhari. .

South Africa's school pit latrine scandal: Why children are drowning
https://www.google.com/amp/s/www.bbc.co.uk/news/amp/world-africa-44329712

When will the lazy, slave Nigerians get pit latrines from South Africa, ur lordship?

We love how the black South Africans swim in their latrines.. we want to learn too

Lionessza6:
Lol, we are ready to slave away for them nairas

Slavesmustdie/timewilltell we ain't going to die at all, we will slave away to get those nairas to mzantsi so we can build proper houses for people who live in slums in Soweto , thanks in advance

No,No. The South African rand is more valuable... I wish I was a black South African rather than a black Nigerian

Lionessza6:
LMFAO, we are no lords , we are just hugely illiterate, lazy slaves who look Chinese with no land . You are the lords ,with all the land , resources at your disposal yet ...........



Don’t take too long': Ramaphosa dares Nigeria to sign free trade deal

https://mg.co.za/article/2018-07-11-dont-take-too-long-ramaphosa-dares-nigeria-to-sign-free-trade-deal

Cautious Nigeria agrees to sign African continental free-trade agreement

https://www.businesslive.co.za/amp/bd/world/africa/2018-07-12-cautious-nigeria-agrees-to-sign-african-continental-free-trade-agreement/


Finally, Buhari ready to sign Africa free trade agreement

https://guardian.ng/news/finally-buhari-ready-to-sign-africa-free-trade-agreement/


1. He didn't want to hear none of it .
2. He got pissed and told him the lazy slaves need jobs asap, sign or else
3.He had no choice but to listen and sell naijas to slaves (they have been doing that for centuries afterall)
4. He finally agreed

Ur highness, when we sign, we’ll let u know..We just have one request... Give us a good president next yr