₦airaland Forum

I saw a post about how poor Nigeria is and another on how Ogun IGR doesn't define their wealth.
Actually real wealth is measured in IGR which is the same as cashflow.

Let me explain using Nigeria as an example,
1.) The GDP per Capita of Nigeria is almost N3m this mean the average Nigerian has 3m as net worth yet almost half the country is living in multi dimensional poverty, this does not make a single sense. I could assure you that 90% of the people that will see this post doesn't have up to N3m as net worth

2. most wealth calculation are in average and not median. Taking Nigeria as an example again, the dichotomy between the rich and the poor is so wide that average is not a real representation of wealth, the likes of the ultra rich like Dangote, Elumelu, Tinubu will influence the average wealth that GDP per Capita can make the average person 10times richer on paper while u are realistically wretched and in a solidly corrupt country, it can even make u 20 times richer. If we have 1000 people and 10 of them are worth 100m, while the other 990 are worth just 100k, the average of their wealth is N1m, of cos this is because the ultra rich which are very few has distorted the result. Median is a better representation but no country uses median in GDP per Capita.

3 IGR gives you a more realistic number of how much comes into a country or state, it is called cashflow, with this you can know how your worth and wealth.
If your household cashflow or salary is 150k monthly yet u have a N20m house, ur GDP or networth is N20m but you know u you are suffering.

I'll make a quote from Robert Kiyosaki who says, "real wealth is what comes into ur pocket and not what u have"

In summary, let us stop using GDP as a measure of wealth

Toh

IGR is more realistic as that will be what you generate in terms of revenue for the state.

The GDP figure is unreal. The figure also don't come yearly

Even at GDP , SE is still the poorest because the number 1 GDP index is land availability

This is why the World Bank once declared Niger State the richest state in Nigeria and Australia the richest in the world.

Land availability and population density are what defines real wealth.

Not just all lands by the way, but productive and fertile lands. Once you have fertile land to go around , you are guaranteed wealth to each household via agriculture. Agriculture remains the number 1 money earner for mankind.

Mankind moved from hunter gatherer societies to human settlements only after we mastered agriculture. And it's from that moment civilization began in Sumer.

SE can not be rich in GDP sense because their land can not sustain their population density.

AntiZikist:
Even at GDP , SE is still the poorest because the number 1 GDP index is land availability

This is why the World Bank once declared Niger State the richest state in Nigeria and Australia the richest in the world.

Land availability and population density are what defines real wealth.

Not just all lands by the way, but productive and fertile lands. Once you have fertile land to go around , you are guaranteed wealth to each household via agriculture. Agriculture remains the number 1 money earner for mankind.

Mankind moved from hunter gatherer societies to human settlements only after we mastered agriculture. And it's from that moment civilization began in Sumer.

SE can not be rich in GDP sense because their land can not sustain their population density.

I think this claim is false.
Lagos state has shown us that u can be rich with limited land, on the other hand, Sudan has shown us that u can have land and still be poor.
SE problem is not about Land

AntiZikist:
Even at GDP , SE is still the poorest because the number 1 GDP index is land availability

This is why the World Bank once declared Niger State the richest state in Nigeria and Australia the richest in the world.

Land availability and population density are what defines real wealth.

Not just all lands by the way, but productive and fertile lands. Once you have fertile land to go around , you are guaranteed wealth to each household via agriculture. Agriculture remains the number 1 money earner for mankind.

Mankind moved from hunter gatherer societies to human settlements only after we mastered agriculture. And it's from that moment civilization began in Sumer.

SE can not be rich in GDP sense because their land can not sustain their population density.

This might sound like gossip but I can't count how many times I have drawn the attention of some Igbo's to the probably issue with re estate business in South East in 2 decades to come.

Firstly, their rich men have acquired at least 40% of the available land, not to use it for development or sell but just to add to family glory.

Secondly, the issue with some families who refused to sell their lands while doing nothing on it.

Wondering why South East land buying is more higher than other regions in Nigeria.

If that trend should continue, only skyscrapers building can help in the future

Lands are there in South East but not available for anything hence investors not forthcoming

helinues:
This might sound like gossip but I can't count how many times I have drawn the attention of some Igbo's to the probably issue with re estate business in South East in 2 decades to come.

Firstly, their rich men have acquired at least 40% of the available land, not to use it for development or sell but just to add to family glory.

Secondly, the issue with some families who refused to sell their lands while doing nothing on it.

Wondering why South East land buying is more higher than other regions in Nigeria.

If that trend should continue, only skyscrapers building can help in the future

Lands are there in South East but not available for anything hence investors not forthcoming

that is true, I was in south east in Abia state for a year.
The town has fine houses yet nobody lived in it, the name of the town is Akwetë.
Their lands are used to build high rise building which has no impact on their economy.
That is one of the reasons why their GDP is high yet their IGR is low

richmond500:
that is true, I was in south east in Abia state for a year.
The town has fine houses yet nobody lived in it, the name of the town is Akwetë.
Their lands are used to build high rise building which has no impact on their economy.
That is one of the reasons why their GDP is high yet their IGR is low

One plot of land in south East can buy hectare in some Northern part. Most lands that are available are just there while the few available are just so ridiculously expensive

richmond500:
that is true, I was in south east in Abia state for a year.
The town has fine houses yet nobody lived in it, the name of the town is Akwetë.
Their lands are used to build high rise building which has no impact on their economy.
That is one of the reasons why their GDP is high yet their IGR is low

The trick behind SE high GDP is people are moving out from the state/region, so less per capital GDP.

IGR is the real indicator to see the progress of a state

richmond500:
I saw a post about how poor Nigeria is and another on how Ogun IGR doesn't define their wealth.
Actually real wealth is measured in IGR which is the same as cashflow.

Let me explain using Nigeria as an example,
1.) The GDP per Capita of Nigeria is almost N3m this mean the average Nigerian has 3m as net worth yet almost half the country is living in multi dimensional poverty, this does not make a single sense. I could assure you that 90% of the people that will see this post doesn't have up to N3m as net worth

2. most wealth calculation are in average and not median. Taking Nigeria as an example again, the dichotomy between the rich and the poor is so wide that average is not a real representation of wealth, the likes of the ultra rich like Dangote, Elumelu, Tinubu will influence the average wealth that GDP per Capita can make the average person 10times richer on paper while u are realistically wretched and in a solidly corrupt country, it can even make u 20 times richer. If we have 1000 people and 10 of them are worth 100m, while the other 990 are worth just 100k, the average of their wealth is N1m, of cos this is because the ultra rich which are very few has distorted the result. Median is a better representation but no country uses median in GDP per Capita.

3 IGR gives you a more realistic number of how much comes into a country or state, it is called cashflow, with this you can know how your worth and wealth.
If your household cashflow or salary is 150k monthly yet u have a N20m house, ur GDP or networth is N20m but you know u you are suffering.

I'll make a quote from Robert Kiyosaki who says, "real wealth is what comes into ur pocket and not what u have"

In summary, let us stop using GDP as a measure of wealth

I don't know how you guys are so low to use IGR that your governors are quoting to measure wealth, Ogun state for more than three years has been building Airport, that took state like Anambra to built under 11months even though Anambra airport is bigger and the runway is longer than that of Ogun, Anambra state is building more infrastructure while your criminal leaders are deceiving you guys with IGR, those high IGR should reflect on infrastructure, Still Ogun is still most indebted state without nothing to show, those with low IGR yet to borrow, I wonder when una go get sense?

richmond500:
I saw a post about how poor Nigeria is and another on how Ogun IGR doesn't define their wealth.
Actually real wealth is measured in IGR which is the same as cashflow.

Let me explain using Nigeria as an example,
1.) The GDP per Capita of Nigeria is almost N3m this mean the average Nigerian has 3m as net worth yet almost half the country is living in multi dimensional poverty, this does not make a single sense. I could assure you that 90% of the people that will see this post doesn't have up to N3m as net worth

2. most wealth calculation are in average and not median. Taking Nigeria as an example again, the dichotomy between the rich and the poor is so wide that average is not a real representation of wealth, the likes of the ultra rich like Dangote, Elumelu, Tinubu will influence the average wealth that GDP per Capita can make the average person 10times richer on paper while u are realistically wretched and in a solidly corrupt country, it can even make u 20 times richer. If we have 1000 people and 10 of them are worth 100m, while the other 990 are worth just 100k, the average of their wealth is N1m, of cos this is because the ultra rich which are very few has distorted the result. Median is a better representation but no country uses median in GDP per Capita.

3 IGR gives you a more realistic number of how much comes into a country or state, it is called cashflow, with this you can know how your worth and wealth.
If your household cashflow or salary is 150k monthly yet u have a N20m house, ur GDP or networth is N20m but you know u you are suffering.

I'll make a quote from Robert Kiyosaki who says, "real wealth is what comes into ur pocket and not what u have"

In summary, let us stop using GDP as a measure of wealth

You don't know what you are talking about. Your GDP is not your net worth, but the sum of economic activities going on in you country. The GDP influences net worth, which arises from the proceeds of the economic activities. For example, if you had a big redundant hotel, it might be worth about $2 billion, but it is not productive. Those selling groundnuts on the street are more productive but you have more assets. The only time that redundant hotel added to the gdp was when you were building it.

The USA is worth about $225 trillion but the GDP is about $29 trillion.

Your GDP helps you to create wealth, but your wealth is only useful to the GDP if it is productive.

helinues:
The trick behind SE high GDP is people are moving out from the state/region, so less per capital GDP.

IGR is the real indicator to see the progress of a state

Nowhere in the world IGR measure economy except in Yorubaland that's why you guys have messed up the economy 😭

No credible source to check states IGR, most states high their IGR to be able to deceive both local and international lenders for borrowing

Bestmanfornow:
I don't know how you guys are so low to use IGR that your governors are quoting to measure wealth, Ogun state for more than three years has been building Airport, that took state like Anambra to built under 11months even though Anambra airport is bigger and the runway is longer than that of Ogun, Anambra state is building more infrastructure while your criminal leaders are deceiving you guys with IGR, those high IGR should reflect on infrastructure, Still Ogun is still most indebted state without nothing to show, those with low IGR yet to borrow, I wonder when una go get sense?

Calm down.

Do you know how many business, people that have relocated from South East due to sit at home every Monday which is over 2 years now.

South East will continue to maintain high GDP as the per income are for less people as reasonable have relocated.

IGR is internally Generated Revenue, the more business activities in your state, the more IGR for for you.

Business activities in South East is declining hence low IGR but the GDP will still continue to be high as there are now less people to budget on.

The other day, Governor Soludo said almost half of the residents of the state have relocated . The GDP must definitely increase but with low IGR

FACE:
You don't know what you are talking about. Your GDP is not your net worth, but the sum of economic activities going on in you country. The GDP influences net worth, which arises from the proceeds of the economic activities. For example, if you had a big redundant hotel, it might be worth about $2 billion, but it is not productive. Those selling groundnuts on the street are more productive but you have more assets. The only time that redundant hotel added to the gdp was when you were building it.

The USA is worth about $225 trillion but the GDP is about $29 trillion.

Your GDP helps you to create wealth, but your wealth is only useful to the GDP if it is productive.

GDP is the sum total of ur assets multiplied by its value.

IGR is an indication of what enters ur hand at the end of the day.
U can have a high GDP yet a very low IGR.
U are not economically viable if u look only at ur GDP and not increase ur IGR

helinues:
Calm down.

Do you know how many business, people that have relocated from South East due to sit at home every Monday which is over 2 years now.

South East will continue to maintain high GDP as the per income are for less people as reasonable have relocated.

IGR is internally Generated Revenue, the more business activities in your state, the more IGR for for you.

Business activities in South East is declining hence low IGR but the GDP will still continue to be high as there are now less people to budget on.

The other day, Governor Soludo said almost half of the residents of the state have relocated . The GDP must definitely increase but with low IGR

Ogun state borrowed 30 billion to built Airport that Anambra state built biggest airport without borrowing, we should be talking about infrastructure being built in Ogun not fabricated IGR they are quoting to keep borrowing

Bestmanfornow:
Nowhere in the world IGR measure economy except in Yorubaland that's why you guys have messed up the economy 😭

that is why the SE isn't progressing economically like her other southern states.
You are more interested in GDP

People who have no toilets are advising igbos now?

Bestmanfornow:
Ogun state borrowed 30 billion to built Airport that Anambra state built biggest airport without borrowing, we should be talking about infrastructure being built in Ogun not fabricated IGR they are quoting to keep borrowing

borrowing to bilt airports.

Lolz, let's talk about how foreign investors snub Anambra and settle for Lagos, Rivers and Ogun.
It's shows viability

helinues:
Calm down.

Do you know how many business, people that have relocated from South East due to sit at home every Monday which is over 2 years now.

South East will continue to maintain high GDP as the per income are for less people as reasonable have relocated.

IGR is internally Generated Revenue, the more business activities in your state, the more IGR for for you.

Business activities in South East is declining hence low IGR but the GDP will still continue to be high as there are now less people to budget on.

The other day, Governor Soludo said almost half of the residents of the state have relocated . The GDP must definitely increase but with low IGR

Economagics... Why do you guys engage in topics you don't understand? How can you say a declining economy will continue to maintain high GDP? What is recession then and how does it affect the GDP?

helinues:
Calm down.

Do you know how many business, people that have relocated from South East due to sit at home every Monday which is over 2 years now.

South East will continue to maintain high GDP as the per income are for less people as reasonable have relocated.

IGR is internally Generated Revenue, the more business activities in your state, the more IGR for for you.

Business activities in South East is declining hence low IGR but the GDP will still continue to be high as there are now less people to budget on.

The other day, Governor Soludo said almost half of the residents of the state have relocated . The GDP must definitely increase but with low IGR

This is ignorance at its peak
You obviously don't know how GDP is calculated

You have said something stupid things on this forum but your statements on this thread is the most stupid of them all geez

So someone leaves a state n their GDP contribution remain?

The good Yorubas u guys need to implement compulsory economics class from ss1 to ss3 please

helinues:
Calm down.

Do you know how many business, people that have relocated from South East due to sit at home every Monday which is over 2 years now.

South East will continue to maintain high GDP as the per income are for less people as reasonable have relocated.

IGR is internally Generated Revenue, the more business activities in your state, the more IGR for for you.

Business activities in South East is declining hence low IGR but the GDP will still continue to be high as there are now less people to budget on.

The other day, Governor Soludo said almost half of the residents of the state have relocated . The GDP must definitely increase but with low IGR

IGR don't measure wealth for example go to Anambra a business man can own more than four of five storey buildings, while a factory worker in Ogun is struggling to build bungalow, Ogun is a formal sector economy, it's very easy to collect tax from industries when majority are not indigenous, state like Anambra is commercial and industrial state driven by indigenous it makes the citizens rich unlike Ogun, Check the aerial view of Agbara and that of Onitsha

FACE:
Economagics... Why do you guys engage in topics you don't understand? How can you say a declining economy will continue to maintain high GDP? What is recession then and how does it affect the GDP?

Bro it's the most stupid thing I have heard in a long time

Drop in GDP is the first indicatot of a declining economy na this is basic economics

Do you think it's cultural that most Yorubas don't seem to understand economics ? Because this is beyond normal

Bestmanfornow:
IGR don't measure wealth for example go to Anambra a business man can own more than four of five storey buildings, while a factory worker in Ogun is struggling to build bungalow, Ogun is a formal sector economy, it's very easy to collect tax from industries when majority are not indigenous, state like Anambra is commercial and industrial state driven by indigenous it makes the citizens rich unlike Ogun, Check the area view of Agbara and that of Onitsha

Personal house is not an asset but a liability. Someone in South West would settle for a bungalow than duplex because when you consider money for maintenance per annum, you could be spending more than renting

helinues:
Personal house is not an asset but a liability. Someone in South West would settle for a bungalow than duplex because when you consider money for maintenance per annum, you could be spending more than renting

Oga houses do not even contribute to GDP
They only contribute the year they are built that's all

Already built houses don't have effective on GDP unless it's bought, or sold

You guys don't know what GDP is obviously

richmond500:
borrowing to bilt airports.

Lolz, let's talk about how foreign investors snub Anambra and settle for Lagos, Rivers and Ogun.
It's shows viability

When people are lazy Anambra indigenous are doing great we don't depend on others unlike you guys.

Bestmanfornow:
IGR don't measure wealth for example go to Anambra a business man can own more than four of five storey buildings, while a factory worker in Ogun is struggling to build bungalow, Ogun is a formal sector economy, it's very easy to collect tax from industries when majority are not indigenous, state like Anambra is commercial and industrial state driven by indigenous it makes the citizens rich unlike Ogun, Check the area view of Agbara and that of Onitsha

how does a five story building help a state generate revenue?

mrvitalis:
This is ignorance at its peak
You obviously don't know how GDP is calculated

You have said something stupid things on this forum but your statements on this thread is the most stupid of them all geez

So someone leaves a state n their GDP contribution remain?

The good Yorubas u guys need to implement compulsory economics class from ss1 to ss3 please

You guys don't have to be aggressive when debating with others

GDP, Gross Domestic Product which is a measurement of transacted goods and services within a territory.

IGR, Internally Generated Revenue which is measurement of tax collected from the transacted goods and services.

The more transacted goods and services, the more IGR.

How many businesses are in South East that you are expecting to generate more revenue ( IGR) compared to South West littered with different business activities?

helinues:
Personal house is not an asset but a liability. Someone in South West would settle for a bungalow than duplex because when you consider money for maintenance per annum, you could be spending more than renting

Otondo that's the mentality that made your region brown roof republic 🤣🤣 can a factory worker afford one?

Bestmanfornow:
Otondo that's the mentality that made your region brown roof republic 🤣🤣 can a factory worker afford one?

Are all those in South East rich?

Bestmanfornow:
When people are lazy Anambra indigenous are doing great we don't depend on others unlike you guys.

This is the mentality that keeps you where u are.
Every country needs foreign investors to grow their economy

mrvitalis:
Oga houses do not even contribute to GDP
They only contribute the year they are built that's all

Already built houses don't have effective on GDP unless it's bought, or sold

You guys don't know what GDP is obviously

You can see that your colleague diverted which i quickly corrected him

richmond500:
how does a five story building help a state generate revenue?

Let compare Infrastructure going on in Anambra state and Ogun that what we should be debating not fabricated IGR that doesn't reflect in Ogun state
Mention top ten projects going on in Ogun let me mention that of Anambra state, remember Anambra still maintained low debt profile and the state governor is yet to borrow since he became governor