₦airaland Forum

Dudeweedlmao:
If you look closely at that chart you will see that nigeria's economy started taking a downward slope from 2014.
Who was president then? Its not even jonathans fault. That was when oil started freefalling. It was literally out of our hands.

Agimor:
It's only the largest on paper it doesn't reflect in real life. I pray we experience a reniassance in all aspect of tthe economy and our life's generally. Amen!

omenka:
Niger Delta Avengers about to visit their blodas wearing babanrigas and speaking Hausa the learnt to speak two weeks ago.

South Africa just lost its spot as Africa’s second largest economy

Once the largest economy on the continent, South Africa’s domestic and political issues have seen it fall to third place behind Nigeria and Egypt, KPMG has warned, using data from the International Monetary Fund (IMF ).

Even though South Africa remains the “continent’s most developed economy, and has a more diversified economic base than the Egyptian economy… its fall from first and now second place amongst the continent’s giants is of great concern,” KPMG Financial Risk Manager Christie Viljoen said, adding “especially as this development is largely attributed to weakness in the rand that, in turn, has largely been as a result of domestic issues”.

“South Africa has been known as the continent’s second-largest economy since Nigeria rebased its gross domestic product (GDP) data in early 2014. However, the IMF World Economic Outlook (WEO) released in mid-April provided more sobering GDP statistics for South Africa. Not only did the multilateral organisation suggest that the South African economy would grow by a mere 0.6% this year, but also that the country is now only the third-largest economy on the continent behind Nigeria and new silver medalist Egypt,” Viljoen said.

“Nigeria’s rebasing exercise some two years ago revealed that the oil-dependent economy was almost twice as big as previously thought. The country’s National Bureau of Statistics (NBS) ensured greater measurement of the informal sector, the inclusion of 46 industries from a previous 33, as well as methodological changes to measuring service sector activity with the rebasing.”

“Backward adjustments to GDP indicated that Nigerian GDP in US dollar terms surpassed its South African equivalent in 2011. By the end of 2015, Nigeria’s GDP was measured at $490 billion compared to South Africa’s estimate of $313 billion,” Viljoen added.

In February is was announced that South Africa attracted the largest amount of start-up funding ($54.5-million) and was the most favoured destination (36%), according to the African Tech Startups Funding Report 2015. This placed it ahead of Nigeria, the continent’s populace country with 170-million people, with $49.4-million, or 24% in investments, and Kenya with $47.3-million (14.4%).

South Africa breathed a sigh of relief on Monday when credit ratings agency Moody's MCO -0.17% left the country’s rating unchanged at Baa2 – but with a negative outlook – after months of fears it would be downgraded to junk status.

This followed the unexpected firing of finance minister Nhlanhla Nene on 9 December 2015, which saw more than $6,6 billion (R100 billion) wiped off government pensions. This was revealed this week by Daniel Matjila, the CEO of state’s pension investment arm, the Public Investment Corporation (PIC), in response to questions in Parliament.

Luizkid:
the same Germany that keeps disturbing me with dia visa until my friend woke me up from d dream??

On Sunday, May 8, Germany hit a new high in renewable energy generation. Thanks to a sunny and windy day, at one point around 1pm the country’s solar, wind, hydro and biomass plants were supplying about 55 GW of the 63 GW being consumed, or 87%.

Power prices actually went negative for several hours, meaning commercial customers were being paid to consume electricity.
https://www.agora-energiewende.de/en/topics/-agothem-/Produkt/produkt/76/Agorameter/
Renewable energy hit 88% of Germany’s power supply on Sunday as electricity prices sunk into negative territory.(AGORA ENERGIEWENDE)

Last year the average renewable mix was 33%, reports Agora Energiewende, a German clean energy think tank. New wind power coming online should push that even higher.

“We have a greater share of renewable energy every year,” said Christoph Podewils of Agora. “The power system adapted to this quite nicely. This day shows again that a system with large amounts of renewable energy works fine.”

Critics have argued that because of the daily peaks and troughs of renewable energy—as the sun goes in and out and winds rise and fall—it will always have only a niche role in supplying power to major economies. But that’s looking less and less likely. Germany plans to hit 100% renewable energy by 2050, and Denmark’s wind turbines already at some points generate more electricity than the country consumes, exporting the surplus to Germany, Norway and Sweden.

Germany’s power surplus on Sunday wasn’t all good news. The system is still too rigid for power suppliers and consumers to respond quickly to price signals. Though gas power plants were taken offline, nuclear and coal plants can’t be quickly shut down, so they went on running and had to pay to sell power into the grid for several hours, while industrial customers such as refineries and foundries earned money by consuming electricity.
http://qz.com/680661/germany-had-so-much-renewable-energy-on-sunday-that-it-had-to-pay-people-to-use-electricity/

Firefire:

Meritocracy:
I really support been managed by foreigner especially India, our people here are just looters.

Ghydyon:
THE APPALLING STATE OF SCHOOLS IN OSUN STATE

...As if that isn't enough, the governor has shown a lackadaisical attitude towards revamping and resuscitating the sector, as most of the buildings in public secondary schools which were built for donkey years now haven't been rehabilitated or rebuilt, rather students learn under porous and "underconducive" environment.

ridwanayo:
Good one,so one has to talk to fayose to also follow suit.he shud stop his stomach infrastructure, he should also encourge production of local rice in igbemo ekiti, cause this same local write could generate a particular g.nut oil wish is good for human heart according to test,I wonder why we av agricultural resource nd we can't expolore it

tempest01:
this is what we want to see...but, we should start making plans to build equipment and equipment parts here

SailorXY:
Of course they do, can't you see the horns on their heads


That overhead bridge look abandoned. Chai Nigeria & governance...

femi4:
You will keep laughing cos you lack understanding of the language.
Let me break it down for you:

ADEYEYE = ADE + YE + OYE which simply means The title (OYE) deserves a crown (ADE)

And its not pronounced as yeye (both Es with dot and means "unserious person in Yoruba. E.g Oniyeye), The "YEYE in Adeyeye is pronounced as YEye (only first E carries dot)

koastar:
@Op,
"kuku" is a Yoruba word incorporated into pidgin English which means "just" in English. e.g "kuku ma lo" meaning "just go",
Also "yeye" is another Yoruba word infused into pidgin English which means "funny" or "foolish" in English. e.g "oro yeye ni Tunde ro" meaning " Tunde's statements are foolish"