₦airaland Forum

SoNature:
After voting for, supporting and defending that ex-druglord in Abuja, you shamelessly want to escape to another African country! Honestly, BATerians who supported that old man in Aso Rock and expected positive change from his government are the dumbest among us!

Tchewww

Keep on crying about people who dont give a fvck about you comment. Keep on crying because am teasing the OP

Stronger than expected growth at the start of the year saw the UK emerge from recession.

The economy grew by 0.6% between January and March, the fastest rate for two years, official figures showed.

The UK fell into recession at the end of last year after shrinking for two three-month periods in a row.

Prime Minister Rishi Sunak said the economy had "turned a corner", but Labour said this was no time for a "victory lap".

On Thursday, the governor of the Bank of England, Andrew Bailey, told the BBC that the UK was seeing a recovery, although it was not a strong one.


Interest rates are currently at their highest for 16 years, meaning people are paying more to borrow money for things such as mortgages and loans, but savers have also received better returns.

On Thursday, the Bank said that inflation, which measures the rate prices rise at, would fall close to its target level in the next couple of months. That had boosted expectations of a rate cut in June. However, the stronger than expected growth figures have dampened those expectations.

Ruth Gregory, deputy chief UK economist at Capital Economics, said it showed "the Bank of England doesn't need to rush to cut interest rates".

She said the first interest rate cut would ultimately be determined by upcoming employment and inflation figures.

Faisal Islam: Economy is getting better but people may not notice
What is GDP and how does it affect me?
Growth in the early part of the year was led by services - which includes sectors such as hospitality, arts and entertainment - and was likely to have been helped by an early Easter in March, the Office for National Statistics (ONS) said. Last year, Easter was in April.

There was anecdotal evidence from looking at credit and debit card transactions that consumers have been treating themselves to clothing and home furnishings.

Car manufacturers also had a good quarter, the ONS said, although the construction sector remained "weak".

However, while the overall economy is growing again, many people might not be feeling any better off. When the impact of inflation - the pace of price rises - and population growth are stripped out, growth per head is still 0.7% lower than a year ago.

'It feels like things are picking up again'
Ed Beardwell
Bike shop owner Ed Beardwell says business seems to have turned a corner
Ed Beardwell, who has owned the RollQuick cycle shop in Bristol for the past 11 months, said his business now "just about breaks even".

He cited the cost of living as an issue. "People are pretty cost-sensitive in Bristol. An awful lot of bikes get stolen and that keeps down the price that anyone is willing to pay."

Poor sales during the recession led to a focus on bike servicing, which now accounts for 70% of his turnover.

Mr Beardwell told the BBC that while the winter had been disappointing, business seems to have turned a corner.

"It does feel like things are picking up again. When you look at the sales statistics we are down on this point last year but tracking better than at the end of last year."

Graphic showing quarterly GDP growth
While the economy contracted during the second half of last year, the recession was the mildest in recent records.

The recession was partly caused by people spending less as they faced higher prices in shops and higher interest rates pushing up mortgage costs.

Yael  Selfin, chief economist at KPMG UK, said "the worst is behind the UK economy".

"We expect to see continued growth for the rest of this year," she added, with falling inflation and rising wages helping "to repair some of the damage to household incomes and support households' consumption".

Election issue
The size of the economy is measured by gross domestic product (GDP), which looks at all the economic activity of companies, governments and people in a country.

Most economists, politicians and businesses want to see GDP rising steadily, because it usually means people are spending more, extra jobs are created, more tax is paid and workers get better pay rises.

The debate about the strength of the economic recovery is set to be a central battleground in the general election campaign.

Chancellor Jeremy Hunt said that while it had been a difficult few years, "today's growth figures are proof that the economy is returning to full health for the first time since the pandemic".

Speaking to the BBC's Today programme, he said: "For families who have been having a really tough time, I think they can see that the very difficult decisions that we've taken in order to get the economy back on its feet after the pandemic, after the energy shock, are beginning to pay off and we need to see them through."

Labour's shadow chancellor, Rachel Reeves, who earlier this week had accused the government of being delusional about the state of the economy, said this was "no time for Conservative ministers to be doing a victory lap".

"After 14 years of economic chaos, working people are still worse off," Ms Reeves added.

Liberal Democrat Treasury spokesperson Sarah Olney said the figures were little cause for celebration.

https://www.bbc.com/news/business-68983741

drmikeadams:
akuko

akuko

WannaHowzit:
I guess it's the japagerian thing to do 🇳🇬💩💩💩

Yea

Why's he the one paying LG workers?

drmikeadams:
Making dollar fall without reducing import duty is like having sex with a prostitute with a torn condom ......

If dollar fall, import duty will also fall

EvergreenDiarie:
What do you think about this short video Simon Ekpa posted on his X page.

pic.twitter.com/7d9tpcqcFl

— Simon Ekpa (@simon_ekpa) May 10, 2024

https://youtube.com/shorts/W8ku9CNQpj8?si=DBy4DmdzD3-i_RVW

The picture and video were edited... They are not real

WannaHowzit:
Don't bother, Japagerian applications are automatically rejected.

I'm coming, there's nothing you can do about it.

Believeintruth:
Dude it has a lot to do bro stop lying to the people

k

WannaHowzit:
Ok, South Sudan granted you a visa yet?🇳🇬💩 For greener pastures 🤷🏽‍♂️🤷🏽‍♂️🤷🏽‍♂️☹️☹️☹️

No, am going to South Africa

Believeintruth:
Oga it is not about shareholders funds bro, they even recorded loses dude and cash flow was negative.

What does all this have to do with companies having access to US dollars at the official rate and paying off their external debts this thread is about?

WannaHowzit:
Having the largest gdp never did anything for you son - you still remained japagerians and hungry lots. Leave top spot to us South Africans who know how to capitalize on it, okay 👍🏾🇿🇦🏆

Whether we remain japagerians or not does not matter

Nigeria GDP will overtake SA GDP next year.

Believeintruth:
it has everything to do with it bro

You're talking about shareholders losing some money

But this thread is about companies having access to US dollars at the official rate.

How are they the same thing?

Do you agree with me that you're are slow

WannaHowzit:
Vodacom is SA's biggest mobile provider, not MTN. So your point is mute.

Well, Nigeria GDP will overtake SA GDP next year

Hardy123:
But i hope i don't see your begging threads soon sha

Who dey beg? Do you think I am a lowlife like you?😆

Hardy123:
Say whatever you wish, na you get ur mouth.

You are correct

But i hope i don't see your begging threads soon sha

Broke boy claiming to be rich online


If not for Bet9ja and Sporting Bet, you would have rely on Opera Mini daily 50MB

WannaHowzit:
It still won't change the fact South Africans are far richer than Nigerians on a personal level (per capita income). Let's talk the day you see South Africans japaring to Nigeria.

Whether South Africans japa to Nigeria or not does not matter to me.

Nigeria GDP will overtake SA GDP next year

Hardy123:
Okay you must be a genius

If not for Bet9ja or Sporting Bet wey dey help your life, you no go even get money to buy data

WannaHowzit:
Only Nigerian mathematicians can figure out how 250 million people (soon to become 500 million) can survive on $250 billion gdp 😂😂😂. SA has 40 million people (deducted japagerians) living off a whopping $400 billion 🤑🤑🤑💰💰💰

Ok

But the most important thing is that, The Nigerian GDP will overtake SA GDP next year

Hardy123:
I have nothing to prove to a clown 🤡

Nah fraustation or hunger make you create this thread sef

Maybe Bet9ja don show you pepper or you're hungry.

Hardy123:
I have nothing to prove to a clown 🤡

The same you wey b say nah Bet9ja and Sporting Bet dey help your life? Dey play

Hardy123:
I can feed you and your entire generation for decades
True story

Anybody can claim to be anything on nairaland

The collapse of the naira has made a lot of Nigerians fall from the millionaire and centi-millionaires list.

There's a time Dangote was worth $20 billion under Yardua or Obasanjo.

WannaHowzit:
Lol, those lazy black men have been in charge for 30 years and have made SA Africa's biggest economy while Nigeria languishes at 4th position despite Africa's largest population and oil reserves. Sit down gutter pooping, japagerian Kunta Kinte.

Suck on this picture African defect that can't manage oil revenues. South Sudan granted you a visa yet?

The lead is just for a short while, we will overtake SA next year.

https://www.mariblock.com/south-africa-to-overtake-nigeria-as-africas-largest-economy/#:~:text=The%20International%20Monetary%20Fund%20(IMF,reclaim%20its%20position%20in%202025.

XtraFortunes:
The dollar that fell since, did it have any effect on the price of food and goods in the market? NO

Which dollar fell since?

Chidexthebest:
Tbh Lagos is dirty especially the mainland. The island is quite clean and developed but the mainland OMG. That place is too dirty

A lot of ignorant people like you never put feet for Lagos before.

Just because ochanja in Onitsha is like an unkempt piggery, do that mean every part of Onitsha looks like an unkempt piggery? No part of the south east can compete with Ikeja, Yaba or Magodo

Curious345:
Lagos has nothing . It's a zero place

🪵no light
🪵no road
🪵no security
🪵every smelling
🪵gutters overflowing with raw sewage
🪵thugs and slugs kill and molest
🪵bribe taking state official everywhere


Add you own

So can you tell us the name of your state where you're all enjoying 24/7 power supply, better roads, good security, where everywhere is not smelling, gutters are not flowing, where miscreants are not killing and state official are not taking bribe?

Niok:
are we in a dollarised economy

Almost every Nigeria knows this

OriginalYoruba1:
We Yoruba know that South West is landlock state But we don’t even have oil well in my state Osun state and Ogun state that’s why I don’t believe Lagos is part of Yoruba land

k

The FG should do everything within their power to make dollar fall