₦airaland Forum

Benzigler:
Take, it will help make you fee alright

You will wail till 2031

Solid construction

You will explain till 2031

Waste of time

ADAMUdaCOWBOY:
Get rid of that slave mentality. I know it's hard to comprehend freedom after a lifetime of servitude but please try. No one should treat you with contempt in (of all places) your country. You should have as much rights in your country as any American in America so your apple-fufu analogy doesn't hold water. You can't go to India to try the nonsense you are assisting them to perpetrate here.

k

The minister should be allowed and giving the full support to keep on doing a thorough job in the power sector

Edo no b Abia

[quote author=vanitybutiwanti post=130130792][/quote]Fubara will also go and get an injunction in his favor at a state high court in rivers 😆

Nigeria might take over as the number one largest economy in Africa again after the rebasing is done

Bitter people in the mud

The National Bureau of Statistics has begun the process of rebasing Nigeria’s Gross Domestic Product and Consumer Prices Index estimates, according to Statistician-General of the Federation and NBS Chief Executive, Prince Semiu Adeniran.

This exercise, recommended by the United Nations Statistical Commission to be carried out every five years, aims to reflect updated economic conditions. The last rebasing exercise was conducted in 2014, making this the second in nearly a decade.

At the opening of a sensitization workshop for stakeholders on the GDP and CPI Rebasing Exercise in Abuja on Thursday, Adeniran emphasized the importance of accurate and timely data in today’s rapidly changing and interconnected world.

The workshop seeks to engage critical stakeholders, solicit feedback, and ensure that the output meets the needs of all users, providing a more accurate picture of the economy.

While the NBS views these exercises as routine statistical practices, the delays and irregularities in some major statistical activities have made them a significant aspect of data production. Additionally, the informal nature and structure of the economy pose an extra burden for data collection, making these exercises more crucial in statistical production.”

He said, “It is for this reason therefore, that when the decision was made to embark on the rebasing exercise, we made it a cardinal objective to ensure inclusivity, collaboration, and partnership throughout the process of these rebasing exercises.”

Former Chief Executive of National Planning, Ode Ojowu, noted that since the last rebasing in 2014, Nigeria has experienced significant structural changes in various sectors. These include the rapid growth of technology and digital sectors, such as fintech, e-commerce, and digital services. Additionally, the agricultural sector has seen the emergence of new value chains, including agribusiness, processing, commodity exchanges, and export activities, as well as the growth of renewable energy sources like solar power.


The entertainment and creative industry has also witnessed significant growth, with the skit industry, Nollywood, and music production gaining international recognition. Furthermore, urbanization and infrastructural development have led to an increase in the value of real estate. Ojowu emphasized that the rebasing of the CPI and GDP will capture these sectoral shifts.

He commended the NBS for its efforts to provide reliable and timely data to support government and private sector decision-making. However, he noted that rebasing the GDP will result in changes to the current macroeconomic indicators used by the government to inform policymaking.”

He said, “For example, in 2013, some financial indicators were lower than in the pre-rebased period, with the private sector credit to GDP dropping from 37.2 (before rebasing) to 19.7 per cent (after rebasing) in 2013 and expanding to 27.2 per cent in 2023. Broad money supply declined from 35.8 (before rebasing) to 18.9 per cent of GDP (after rebasing) in 2013 and rose to 34.3 per cent of GDP in 2023.

“From the policy perspective, these ‘overnight’ drops looked like a lower private sector credit expansion and constrained financial system development. Similarly, 2014 rebased GDP lowered the fiscal deficit as a ratio of GDP by half from 2.1 to 1.1, but within a decade the government has rapidly expanded the fiscal deficit to the current level of 5.6 per cent of GDP.“With the anticipated rise in the size of the GDP when the current rebasing exercise is concluded, we expect a further lower fiscal deficit to GDP ratio. Will the new fiscal deficit-to-GDP ratio be an incentive to the government to ramp up expenditure and slow down the drive to cut down on the high cost of governance?”

According to the former economic adviser to former president Olusegun Obasanjo, “In 2014 the rebased GDP pushed the debt stock-to-GDP ratio down from 23.7 to 12.5 per cent in 2013. But within the decade, the government has again ramped up the ratio to 42.3 per cent. At the current ratio of 42.3 per cent, debt service is threatening the fiscal stability of the state. With the anticipated lower debt-to-GDP after rebasing, could the government be tempted to expand its debt closer to the international threshold? What would such a move imply for the fiscal viability of the state? “

“With the previous rebasing of the GDP, the federal government tax revenue to GDP fell from 11.3 per cent to 6 per cent in 2013. Deploying various tax measures, tax revenue to GDP improved to 10.9 per cent of GDP in 2023, which is still among the lowest in the world. With the anticipated rebasing of the GDP, Nigeria’s tax-to-GDP ratio could drop significantly. Will the government be tempted to then raise taxes to ramp up the tax revenue as a per cent of the GDP?”

He said, “The piece of advice here is that while we may jubilate over the size of the GDP that could reconfirm our position as the biggest economy on the continent of Africa, we will do well to continue to critically examine the composition of the GDP, its ability to create employment, enhance incomes and generate revenue, sector-by-sector.”


https://punchng.com/nigeria-to-update-economic-outlook-as-nbs-begins-rebasing-gdp-consumer-prices/?utm_source=telegram&utm_medium=social

Kooldon:
This is purely a family feud and they will sort themselves out by who has the highest backing.
But Ado Bayero don chop 4 years already and he should take a bow quietly just like Sanusi Lamido did four years ago.

Ado Bayero should take his L in peace for now. The governor is backing Sanusi

Smartcitizen:
Hahaha hahaha hahaha!

As if you have eaten since three days ago!

Just wait for another round of Rice sharing program and I doubt if you will ever survive it like most of your friends who died in the stamped.

k

Smartcitizen:
As he is trying to explain, I pray you will never be a victim of Rice sharing STAMPED before the 2027 election like some APC supporters in Lagos.

Go and eat

SS777:
He's not Igbo just like Obi of Asaba, but Igbo always want to force themselves on people's.

There's no title called obi of Asaba

KosiGee:
Are you ok at all?

Why would the Indians run and operate an apartheid school in Nigeria?

The school should be shut down whether or not they stopped the discrimination.
There shouldn’t be any room for such in Nigeria. There is no guarantee that the discrimination would stop even they start admitting Nigerian kids. Non Indians would be treated unfairly.

The school teach in Hindu, do your child understand the language?


Why's it compulsory your child attend the school?

samwheel:
Slave don drop quote.

E go reach time, dem go restrict your movement for ur country coz u chosed to be a slave and asslick anything foreigner

Well, you're free to send your child to an Hindi speaking school master wey no b slave

The minister should be allowed and giving the full support to do a thorough job in the power sector

Jagaban2012:
Indian school in Nigeria must abide by Nigeria rule ...
Indian are the the most racist country in the world ...and they cant try that shit in our own country

I'm not supporting the Indian school. I don't just feel a Nigerian should take his or her child to a school where almost all the pupils are indians and Hindi is mostly use to teach in th school. The kid won't feel among.

There are lots of mix schools in Nigeria that are very good. Schools attended by kids from Nigeria, Europe, US, Asia etc

Smithkafors:
Why will they wail?. Your sisters or family or villagers affected than the people you are trolling.

Your guys problem is that you feel everything is about politics. You vote incompetent people every year and expect a change.

You can’t even mention one sector in Nigeria doing great since 8yrs ago till now.

Make una try dey reason abeg.

You will explain till 2031

Kriss216:
My heartfelt condolence goes to Tinubu the Jagaban, I pray God should give him the fortitude to bear this great pain.



Nevertheless, Yoruba and Fulani are one.


God bless Nigeria.

Thank you

FarahAideed:
Tinubu come collect your letter abeg

Did Tinubu eventually collect the letter?

Charmingrascal:
Tinubu should better catch the sub


The earlier he supports Yoruba Nation the better for him.

Gbajue

ADAMUdaCOWBOY:
Oga shut up! You can't go to America and find schools that don't admit blacks? How do you people find it ok that foreigners do that to you in your country? Kai!!

This is like comparing an apple with fufu

Is it compulsory your children attend the india school?

EmmyDJourno:
What pains🤣, this gullible fool is talking of pains, the only pains I feel is your children inheriting your Homo Erectus brain🤣

Seun

Mynd44

fergie001

EmmyDJourno has broken rule 2

EmmyDJourno:
Says a Homo Erectus who is yet to develop into the Sapiens mode of reasoning🤣

k

EmmyDJourno:
You wey Tinubu don use your destiny buy Cement for road dey talk🤣, God forsaken human being😪

I'm happy you're in pains

Dafresh:
I know he will surely bounce back. Now the road have been abandoned due to submarine cable

A lot of you keep on making ignorant statements about this project. A project that's ongoing at a fast pace at Eleko as we speak, it's what you're claiming from your one room apartment in Onitsha that it's abandoned because of submarine cables

It's still an interim forfeiture