₦airaland Forum

The original base is not performing or what

Freetech:
But it made sense when Okonjo Iweala did it.

Bitter soul. Did you people consider production when you're comparing our Gdp to that of other countries or even years before?

Can't you see Nigeria understand better now

Consider the results of election in Edo and Ondo state. LP is no more a contestant but a mere spectator.

This will be a downward GDP rebasement with the way the masses are struggling to feed, the obliteration of the purchasing power, the devaluation of naira, just watch and see

LegendHero:
This is exactly what Jonathan did that suddenly turned Nigeria to the highest GDP in Africa then.

Don't forget that Nigeria saw economic growth of between 5 - 6.5% from the lather days of OBJ's regime through to UMY's Short tenure to GEJ's government before the economy was rebased.

Nigeria experienced that consistency in economic growth for a while.
But this time, they are planning to rebase the economic on the backdrop of negative or low growth. One shouldn't expect any significant changes on the positive side.

Lifestone:
In the first instance, why should the informal sector be excluded in the computation of GDP? Why should the activities of POS operators, Land agents, market women, spare parts dealers, Mama put etc be excluded.

All these people that barely pay any tax?

LegendHero:
This is exactly what Jonathan did that suddenly turned Nigeria to the highest GDP in Africa then.

Jonathan rebased the economy on the growth of new industries, specifically the development of the ICT and telecom industries. I did not agree with GEJ's rebasing of the economy, but there was some logic in his decision. I

In the case of Tinubu, there are no new sector or economic growth warrants any economic rebasing; in fact, Wale Ebun recently decried the domination of the import and informal sector as a drain on the Nigerian economy.

The economy is tanking due to the floating of the Naira, high inflation, and Nigeria's growing debt profile. Nigeria's GDP currently stands at $199 billion and will fall to $99 billion by the end of 2025.

It is a global practice to include the informal sector fully so as to capture the real GDP.

fineboynl:
Men the country really destroyed. 2008/2009 kia rio tear rubber was 1.5 million. It was what they were using to do cab in Benin city. I still remember when it move to 2m then later 2.5m.

During that time 15k usd is around 1.5m. That amount can get you new car.

But today I doubt if 30m can get you any new kia.

Devaluation of the currency in any guise is a big and costly mistake. Floating or temporary with exchange rate is a no go area. Bag of race 8k is what they are selling now 120k

Some fools said Nigerian bond and stock have grown from what it used to. that was when I knew tinubu administration is very useless and have very dull online supporters. The bond and stock is experiencing inflation and they call it growth.

A tuber of yam selling for N500 naira before, the same tuber is now selling for N5000 is that growth or inflation?

Floating the Naira was a costly and stupid decision; even the useless Buhari knew that you can't float your currency if there are no productive sectors and Nigeria import everything hence currency control was necessary to managed the cost of production

Ngwamankillyou2:
Foolish tiefnubu..he is reading my comments.

Why will he act now after taking the back seat.

develop ur 5 plots

Tinubu is only good in playing politics.

He never said he will do anything if elected. He only said it is his turn.

I hope they are going to capture that silent money making department called NURTW. Those Agberos makes money per second and sadly that money never reflected in the Country GDP even inform of Transport revenue. At least those revenue can be channeled into roads rehabilitation etc.....many indirect taxes being paid by Nigerians every day but never captured in the GDP.....I know why anyway, cos it goes directly into private pockets.....

IyanAtiEgusi:
develop ur 5 plots

Have you develop your own 5 plots yet,we are far ahead of you even dominated you at your 5,plots..

Someone that celebrate first toilet after 125 years is too local to talk to his Colonial master.

We are not mate.
Kiss the truth.

LegendHero:
This is exactly what Jonathan did that suddenly turned Nigeria to the highest GDP in Africa then.

But I remembered APC calling the rebasement fake back then. They were busy attacking and insulting Okonjo Iweala

The level of hypocrisy in that party is legendary.

They'll claim we're a $1 trillion economy by next year.

mrvitalis:
Lmaooo funny

Redefine unemployment
Revase the economy

Under Jonathan people where buying new cars... Lectures were earning as much as 30k dollars yearly

Oil companies workers earned over 70k yearly for a start

Even teachers where earning 15k to 20k dollars yearly

The reality was a progressive economy n people saw it

Make una no dey throw up unverifiable stats abeg, both you and the person you are arguing with is lying.
People were buying cars but not new cars, Na still Tokunbo we dey buy.
Lecturers were not earning 350 to 500k monthly if we used prevailing exchange rate as at then
Teachers were not earning 200k to 400k monthly
Oil workers were not earning 1.2m per month for start
Your stats are too bogus

GDP rebasement Na to steal more fund, it will help is borrowing more loan, it's not like it will increase the job in circulation. If things are right, we all gonna feel it.
A Camry that was 800k years ago, you can't even use 800k to clear same vehicle today.
Leave GDP, address why things are expensive, give us light, road and security

Bobloco:
Has Tinubu created a single job since coming on board as president of Nigeria?

For where, even the npower Buhari used hand small stipend to some persons, this wicked man closed it up Tinubu is against human welfare

Freetech:
But it made sense when Okonjo Iweala did it.

Bitter soul. Did you people consider production when you're comparing our Gdp to that of other countries or even years before?

Can't you see Nigeria understand better now

Consider the results of election in Edo and Ondo state. LP is no more a contestant but a mere spectator.

Nigerians were not suffering or struggling to buy food stocks like rice, beans, yam but since Tinubu came on he used weapon of poverty against the State

Ngwamankillyou2:
Have you develop your own 5 plots yet,we are far ahead of you even dominated you at your 5,plots..

Someone that celebrate first toilet after 125 years is too local to talk to his Colonial master.

We are not mate.
Kiss the truth.

oya make una leave undeveloped lagos wey no get toilet
go develop ur 5 plots instead

It is long overdue. The standard is for the GDP to be rebased every five years but we hardly do the needful in Nigeria till it’s too late.

OlujobaSamuel:
Make una no dey throw up unverifiable stats abeg, both you and the person you are arguing with is lying.
People were buying cars but not new cars, Na still Tokunbo we dey buy.
Lecturers were not earning 350 to 500k monthly if we used prevailing exchange rate as at then
Teachers were not earning 200k to 400k monthly
Oil workers were not earning 1.2m per month for start
Your stats are too bogus

Oga as at 2012 progs earned 450k which were 3000 dollars a month and 36k dollars a year... Where exactly is the lie

Oil workers where earning 1.5 million entry level, mobil, she'll shell was 550k , total 750k NLNG Bonny 2 million, Andorama was 1.5 million

IyanAtiEgusi:
oya make una leave undeveloped lagos wey no get toilet
go develop ur 5 plots instead

I know you will mention Lagos, shameless thing..you can't even be proud of your Local 5 plots..aworis have warned you guys to stay clear.. Lagos is Nigerian project developed with oil money not Cocoa... pack and leave because we run it and Obi won it defeating your drug lord from osun.

Ngwamankillyou2:
I know you will mention Lagos, shameless thing..you can't even be proud of your Local 5 plots..aworis have warned you guys to stay clear.. Lagos is Nigerian project developed with oil money not Cocoa... pack and leave because we run it and Obi won it defeating your drug lord from osun.

bitter pandorā grievingory obituary d Agulu fraud will never be president

IyanAtiEgusi:
bitter pandorā grievingory obituary d Agulu fraud will never be president

He is president to millions after beating your drug lord.

Typical Nigerian attitude to poison everything with our corruption even GDP figures is now not authentic just like, selection and population census, everything not accurate

Ngwamankillyou2:
He is president to millions after beating your drug lord.

Tinubu till 2031
nothing go make Agulu fraud win
distant 3rd as usual

Lifestone:
In the first instance, why should the informal sector be excluded in the computation of GDP? Why should the activities of POS operators, Land agents, market women, spare parts dealers, Mama put etc be excluded.
The critical point here is that it must comply with International template and should be verifiable.

You can say that again. Things must be done holistically, objectively and verifiably.

LegendHero:
This is exactly what Jonathan did that suddenly turned Nigeria to the highest GDP in Africa then.

So Tinubu want to rebase on the rebase.. LMAO. Defender of the emilokan

When it was rebated in 2013 or so, Association of Present Criminals said it was a lie. But every global agency reported that Nigeria was making steady progress and the economy was rising.

At a time when even the IMF has said that APC's so called reforms is making zero impact on Nigeria's economy and people, watch how they're going to say our economy is the second best in the world and they'll pay some foreigners to say that the IMF was wrong.

It's a government of lies and propaganda, and just like someone said, propaganda and rigging can get you power but they can't help you govern.

gratiaeo:
Nigeria is in trouble under APC

But the same APC has just won governorship elections in two of the most educationally advanced states in Nigeria, Edo and Ondo states.
It means that the situation may not be as bad as you think.
Tinubu just needs to quickly and sufficiently reinvest the proceeds of subsidies removal into agriculture, education, healthcare, critical infrastructure and social investment, until it reaches equilibrium with the sufferings of the masses, at a faster pace than when they were removed.

LegendHero:
This is exactly what Jonathan did that suddenly turned Nigeria to the highest GDP in Africa then.

At that time the formal sectors were not properly captured so it makes sense to rebase the GDP.
Now on what basis do they want to rebase and bring an informal sector that is already destroyed that the government doesn't even know or quantify it's impact?
The did the same with unemployment numbers and miraculously the numbers dropped to 3% unemployment rate all to hide the true picture of things in the country.

Lifestone:
In the first instance, why should the informal sector be excluded in the computation of GDP? Why should the activities of POS operators, Land agents, market women, spare parts dealers, Mama put etc be excluded.
The critical point here is that it must comply with International template and should be verifiable.

There is a reason why it is informal, because the government data on it is inaccurate. The government is trying to use that to stylishly raise the GDP number in Nigeria. The didnthe same with unemployment rate and miraculously the rate dropped to 3% which we know is a lie.