₦airaland Forum

GeneralDae2:
If we go by this data also, Angola is 114 Billion dollars. Angola can't thank their stars enough for this relative oil boom . They have grown so much from 75 Billion dollars early last year .
Even their currency have improved 30%.

Kenya is $113.9B < Angola $114.2B
Just like Nigeria, without oil Angola is dead.

Just40:
according to real economic assessment, the Russian economy is on par with that of Germany, buoyant and productive and that is the reason why sanctions hasn't affected it as much as those who planned it thought it would.

what are they producing outside natural resources n weapons.. Germany is an exporting behemoth ...with I bet export value greater than it's gdp..all using cheap Russian gas n oil.Sanctions no longer works because Russia is always on one...as they are always on agression to fix USSR borders that they feel took Russian territorial integrity so almost every two or three years they are attacking their neighbors and trying to seize more territory..like 10 percent of the earth isn't enough for them

Shma2022:
Kenya is $113.9B < Angola $114.2B
Just like Nigeria, without oil Angola is dead.

Angola much more than Nigeria. The evidence is that before 2015, Angola was booming like Nigeria.
The 2015 oil price reduction swooped Angolan and Libyan economy more devastatingly than Nigeria. Nigeria went into a recession but recovered more quickly than Angola. Same thing in 2020.

Kenya has been building many dams - and will soon accelerate it by privatizing their construction.
Thiba dam will double rice production.Thiba dam is now full and President Ruto to commission release of water from Thiba dam to Kirinyaga rice farms on Saturday

Unlike Nigeria - this was built way ahead of schedule.

The construction of Thiba Dam commenced on November 2018 and was completed in April 2022 having taken a commendable 41 months as opposed to its initial plan of 44months and saving Ksh. 400 million from the amount budgeted for the project.

Additionally, over 13 large private Mills have come up for rice value addition and baling of rice straws as fodder for livestock in the region adding to the existing ones. The increase in rice production will in turn increase the value of production from the current KSh. 10billion to KSh. 18billion annually and create an additional 50,000 jobs leading to a cumulative 175,000 jobs in a year.

GeneralDae:
Angola much more than Nigeria. The evidence is that before 2015, Angola was booming like Nigeria.
The 2015 oil price reduction swooped Angolan and Libyan economy more devastatingly than Nigeria. Nigeria went into a recession but recovered more quickly

y than Angola. Same thing in 2020.

Mhhh, actually, Angola has not yet hit $114B. I debunked that live count in 2019 when Austin dropped it for countermeasure with a certain IMF link. I told him the Kenyan population is not 57million, he was bamboozled.
I said the above to say this:
By the end of 2021(last year) World bank had projected a 0.7% growth rate for Angola's GDP --- which then was a paltry $72B.
Few months down the line, it's $114B? How?

Also, their ministry as of 2022 is still planning for post-economic recession. They are projecting a 2.4% growth rate.

rvp2018:
what are they producing outside natural resources n weapons.. Germany is an exporting behemoth ...with I bet export value greater than it's gdp..all using cheap Russian gas n oil.Sanctions no longer works because Russia is always on one...as they are always on agression to fix USSR borders that they feel took Russian territorial integrity so almost every two or three years they are attacking their neighbors and trying to seize more territory..like 10 percent of the earth isn't enough for them

That myth of economies not strong because they don't export manufactured goods needs to stop.
Russia has a huge population so obviously manufactured products already have demand in the country before they can export. That's why the sanctions didn't work. You can watch any Russia English speaking youtuber, talking about how Russian made products quickly replaced everything else

Nominal GDP can grow if currency strengthen against the dollar. So growth rate plus USD exchange rate.

Shma2022:
Mhhh, actually, Angola has not yet hit $114B. I debunked that live count in 2019 when Austin dropped it for countermeasure with a certain IMF link. I told him the Kenyan population is not 57million, he was bamboozled.
I said the above to say this:
By the end of 2021(last year) World bank had projected a 0.7% growth rate for Angola's GDP --- which then was a paltry $72B.
Few months down the line, it's $114B? How?

Also, their ministry as of 2022 is still planning for post-economic recession. They are projecting a 2.4% growth rate.

They have manufacturing base of course - every country has that - but they can't make complicated things like cars, machinery, etc- and have to import. The sanctions have doubled their export earnings from gas and oil -so it's working to their favor. Russian have been on some sanctions almost every year as they are always on aggression unhappy with USSR betrayal by Gorbachev.

Fourpockets:
That myth of economies not strong because they don't export manufactured goods needs to stop.
Russia has a huge population so obviously manufactured products already have demand in the country before they can export. That's why the sanctions didn't work. You can watch any Russia English speaking youtuber, talking about how Russian made products quickly replaced everything else

Mkenya2019:
Nominal GDP can grow if currency strengthen against the dollar. So growth rate plus USD exchange rate.

Around may, they were doing 390AOA against the dollar, they are currently doing 432AOA against USD. That's terrible.
But compared to the start of the year, they are fair of.
Let's blame it on fluctuating oil prices.

Their Kwacha has been doing great. And will record oil prizes...they are going to reap.

Angola's Kwanza is Now the World's Best-performing Currencyhttps://businessinfoeth.com › angolas-kwanza-is-now-th...
Mar 15, 2022 — The oil boom has fueled a surge in Angola's kwanza, making it the world's best-performing currency against the US dollar.

Shma2022:
A
round may, they were doing 390AOA against the dollar, they are currently doing 432AOA against USD. That's terrible.
But compared to the start of the year, they are fair of.
Let's blame it on fluctuating oil prices.

Seems like the Russian sanction is benefiting more oil-producing countries in Africa.

Mkenya2019:
Their Kwacha has been doing great. And will record oil prizes...they are going to reap.

Angola's Kwanza is Now the World's Best-performing Currencyhttps://businessinfoeth.com › angolas-kwanza-is-now-th...
Mar 15, 2022 — The oil boom has fueled a surge in Angola's kwanza, making it the world's best-performing currency against the US dollar.

Yes, its doing great. But I doubt if it's the world's best-performing currency against USD

This new Galaxy Mall in Kaduna just got commissioned yesterday

Mkenya2019:
Russia is third world country with oil and natural gas. A Nigeria. Developed countries like Italy do a lot of value addition - which is more economically rewarding. Europe/North America import gas and oil from Russia - and use it to manufacture stuff - that they sell it world for a premium. Next is definitely South Asians - Japan, South Korea, and China.

Russia shouldn't be a third world country. Education and infrastructure are widespread. During Soviet era Russia/USSR was ahead of countries such as UK and Italy in terms of industrial output, yet its people were largely poor. Russia's case presents us with a paradox.

68816419:
This new Galaxy Mall in Kaduna just got commissioned yesterday

Kaduna is on steroids. I just wish Kaduna can lead the way in the North in terms of children's education. The north needs education.

Mkenya2019:
They have manufacturing base of course - every country has that - but they can't make complicated things like cars, machinery, etc- and have to import. The sanctions have doubled their export earnings from gas and oil -so it's working to their favor. Russian have been on some sanctions almost every year as they are always on aggression unhappy with USSR betrayal by Gorbachev.

What do you mean they can't manufacture complicated things? The Tupolev aeroplane is Russian built. There's something else behind their poor GDP figures. I don't Russia has gotten over its loss of its territories. The British and French found a way to hold on to theirs surreptitiously.

obaaderemi:
Kaduna is on steroids. I just wish Kaduna can lead the way in the North in terms of children's education. The north needs education.

El Rufai is a great administrator. He was a great administrator in leading Abuja to what it is today and he is doing even more in Kaduna.
The reason there are more out of school children in the north is that majority of the children are employed as farmers.
A man with 20 children would have almost all of them working on farmlands to make money rather than enroll them in schools.

Kaduna and Akwa Ibom. Two top states getting better and better in Nigeria.

obaaderemi:
Kaduna is on steroids. I just wish Kaduna can lead the way in the North in terms of children's education. The north needs education.

They need birth control more than education, cos at the end of the day, you will find it hard to train 20 children than 4

Fourpockets:
They need birth control more than education, cos at the end of the day, you will find it hard to train 20 children than 4

Education will have to come first. How do you preach birth control to an illiterate Muslim who believes training of children is unimportant? But if education is widespread and intensive they will start getting enlightened and maybe we can save the next generation of northerners. Those people are so foolish.

GeneralDae:
El Rufai is a great administrator. He was a great administrator in leading Abuja to what it is today and he is doing even more in Kaduna.
The reason there are more out of school children in the north is that majority of the children are employed as farmers.
A man with 20 children would have almost all of them working on farmlands to make money rather than enroll them in schools.

Crazy place. The north is Nigeria's number one problem. El rufai needs to start a revolution in that place. Buhari on the other hand is a lost cause.

Kenyans why?

https://www.youtube.com/watch?v=VVg62vM4_sA

GeneralDae:
El Rufai is a great administrator. He was a great administrator in leading Abuja to what it is today and he is doing even more in Kaduna.
The reason there are more out of school children in the north is that majority of the children are employed as farmers.
A man with 20 children would have almost all of them working on farmlands to make money rather than enroll them in schools.

Oga, you nailed it

obaaderemi:
Crazy place. The north is Nigeria's number one problem. El rufai needs to start a revolution in that place. Buhari on the other hand is a lost cause.

How is the north different from south east?

68816419:
How is the north different from south east?

At least the South easterners do not disturb the peace of other regions like the northerners do with their marauding herdsmen. And the east is not a cesspit of deliberate illiteracy and ignorance.But I still wish the north well but it has to change its mindset about western education.

68816419:
Kenyans why?

https://www.youtube.com/watch?v=VVg62vM4_sA

I think the Kenyans are used to this. They've not shaken off the chains of the Arabic Indian ocean slave trade

Shma2022:
@jl115, I thought your GDP is $440B going upwards. What happened?

I qoute straight from the IMF or WB bru but 413 billion seems about right.... Isn't that what I posted?

Its not a paradox or well it is. It called Dutch disease or now Nigeria oil curse. Natural resources or any huge windfall destroy the rest of the economy unless the country is deliberate about it - like UAE or Norway or China has done. If you bring all that hot easy to get money - then people abandon everything - and run for the easy money - easy money also strengthen the local currency killing exports - etc etc. Nigeria oil curse is worse than dutch disease.

Russian economy has been destroyed by oil and gas - and what remain is really weapon manufacturing although even that the Ukraine war is showing is almost dead - they cant seem to keep up with NATO arms.

The smart Chinese despite getting trillions of dollars from exports - have refused to take all the money to china - they loan it to US (2 trillion dollars), EU(1 trillion) - they invest abroad - they buy house abroads - they know if they bring in all that trillion - it will destroy their economy. Saudis and the rest of middle east have followed this approach - dont bring all the money to local economy - it will destroy it.

Norway has sent most of it's oil money to sovereign wealth - this mean the money is kept for future generations - not brought to the economy - which will overheat - and destroy the rest of the economy.

The Africa dutch disease is now called Nigeria oil curse - or natural resource curses- because the weak governance collapses - as the army and rebels - knows all they need to capture power is to capture oil wells or mining areas - and they are in power. So not only does the economy collapses the gov also collapses. If it was poor Kenya or Tanzania - there is no incentive for army to take power - because they know governing is very hard - you need citizens cooperation to raises taxes coin by coin - you cant just grab the oil well and be in business.

Dutch disease is a shorthand way of describing the paradox which occurs when good news, such as the discovery of large oil reserves, harms a country's broader economy. It may begin with a large influx of foreign cash to exploit a newfound resource.

Nigeria Oil curse - In fact, Nigeria can be seen as a prime example of the “resource curse”, a phenomenon where natural resource wealth leads to poor economic growth and development and an increased likelihood for civil conflict.

obaaderemi:
Russia shouldn't be a third world country. Education and infrastructure are widespread. During Soviet era Russia/USSR was ahead of countries such as UK and Italy in terms of industrial output, yet its people were largely poor. Russia's case presents us with a paradox.

Mkenya2019:
Kenya has been building many dams - and will soon accelerate it by privatizing their construction.
Thiba dam will double rice production.Thiba dam is now full and President Ruto to commission release of water from Thiba dam to Kirinyaga rice farms on Saturday

Unlike Nigeria - this was built way ahead of schedule.

The construction of Thiba Dam commenced on November 2018 and was completed in April 2022 having taken a commendable 41 months as opposed to its initial plan of 44months and saving Ksh. 400 million from the amount budgeted for the project.

Additionally, over 13 large private Mills have come up for rice value addition and baling of rice straws as fodder for livestock in the region adding to the existing ones. The increase in rice production will in turn increase the value of production from the current KSh. 10billion to KSh. 18billion annually and create an additional 50,000 jobs leading to a cumulative 175,000 jobs in a year.

Why hand sealing, why not automated sealing machine which can be gotten for less than $5k

68816419:
Kenyans why?

https://www.youtube.com/watch?v=VVg62vM4_sA

One of their countrymen said there is nothing wrong with it, he even encourages it

I think it example of a small ricer miller.

QuietMynd:
Why hand sealing, why not automated sealing machine which can be gotten for less than $5k

Shma2022:
Kenya is $113.9B < Angola $114.2B
Just like Nigeria, without oil Angola is dead.

Well then get your oil so you would be alive.
Stop splitting hairs