₦airaland Forum

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.

Show us when Okonjo added it. What was added then was other formal sectors not captured in the GDP calculation.

RandomFellow:
The result won't change much. People are really poor. The only places that seem as though life is good are Lagos and Abuja. The remaining 35 states? They are surviving, not living!

They probably want to capture street hawkers as employed persons, forgetting that just 2 years ago, many of these poor street hawkers were working in places where they earned living wages. Now? They are just slightly better than beggers

They want to manipulate the statistics to give a semblance of high GDP.

Bede2u:
The informal sector is not unproductive. A farmer for instance is within the informal sector but some of his products may end up in UK, as a meal to a Nigerian family in UK and earns the country forex.
A plumber helping me build my house is in the informal sector but I still send money in dollars when I want to pay him.
Nigeria's economy is worth much more than Wikipedia shows bro

Can you quantify the informal sector? Even the government cannot quantify it, so why use that to rebase the GDP? It is just an avenue to use estimation of the impact of the informal sector to calculate the GDP.

Frigga13:
He’s not an economist .. not that he knows . They keep schooling him.. it he no just wa learn

So he keeps wobbling .. and his kind keeplikimg is post

Is ignorance

That is why based on that guy's behavior, stupid people are more dangerous to Nigeria than Boko Haram and bandits.

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

Bros look for a lie that can stick. Informal sector that cannot be quantified is now a global practice.

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 people were buying new cars then. Haba how much did APC pay you to sustain lies and propaganda?

ALTERNATEID:
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.

The essence of rebasing evey 5 years is to include new sectors. Please mention any new sector in Tinubu's government. They are now trying to add an informal sector that cannot be quantified but at best estimated and we know how fraudulent estimated figures can be.

Buhari didn't make people poorer , you ruined your point by lumping Buhari with Thiefinubu. Makes it seem you are more interested in making party political propaganda points than factual ones.

givedemwotowoto:
Misleading information (Propaganda) Alert!‼️

Governments of OBJ, Yar’adua, and GEJ significantly grew certain sectors of the Nigerian economy and GEJ’s government captured these sectors which were not previously captured in our GDP. The sectors they added include Telecom and ICT, Entertainment and Media (including content creators), E-commerce, Real Estate and Construction, Financial Services like Banking and insurance, Hospitality and Tourism (Hotels, restaurants, tourism), Transportation (including Air travel).

[b]Buhari [/b]and TPain haven’t done anything new except make people poorer so what they’re trying to do is spend a lot of tax payers’ money to rebase the economy and include the informal sector, like street hawking, artisans like tailors, domestic work like house cleaning etc.

No be juju be that?

mrvitalis:
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

Programmers are not lecturers nor teachers, we all know the average income of Nigerians then and now.
Your average income stats isn't correct.
Nlng Bonny isn't having entering level at 2m in 2012

Believeintruth:
Oga people were buying new cars then. Haba how much did APC pay you to sustain lies and propaganda?

At what point in this nation history were people buying new cars. New cars is more or less exclusive of corporates, industries, state.
Individuals using new cars mostly got it through financing.
Ain't a fan of the nonsense APC with their wrecking of businesses.
A used bike I got for 100k is now 400k, my car gotten through vehicle finance with market price of 13m in 2021 is now 35m, so I should defend APC with such nonsense destructive inflation
Our goto Tokunbo is now out of reach, people can't even afford Nigerian use vehicle again.

OlujobaSamuel:
At what point in this nation history were people buying new cars. New cars is more or less exclusive of corporates, industries, state.
Individuals using new cars mostly got it through financing.
Ain't a fan of the nonsense APC with their wrecking of businesses.
A used bike I got for 100k is now 400k, my car gotten through vehicle finance with market price of 13m in 2021 is now 35m, so I should defend APC with such nonsense destructive inflation
Our goto Tokunbo is now out of reach, people can't even afford Nigerian use vehicle again.

Between 2008 till 2015 people were buying new cars. So stop being mischievous.

Even in the 70s people bought new cars in Nigeria via hire purchase which is a form of financing so what are you saying.

IyanAtiEgusi:

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

Wait till 2027 before wailing in hunger.

OlujobaSamuel:
Programmers are not lecturers nor teachers, we all know the average income of Nigerians then and now.
Your average income stats isn't correct.
Nlng Bonny isn't having entering level at 2m in 2012

Oga my brother literally got a Job in NLNG Bonny in 2011 before he left for USA in 2014 what are you saying starting salary was way over 2 million

Pipeline welders earns 25k daily that was over 150 dollars

A processor earned 450k to 600k in 2012 they still earn that till date

Graduate assistant earned 108 to 135k a month then they still earn till date

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

The Jonathan era was that of consumption and depletion. All our growth went into consumption, Nigerians were travelling, spending their debit cards abroad, capital was flowing out, massive rice importation, reserves were depleted. Comedians, actors and entertainers made money which they consumed. Can u pin point any major infrastructure during that era or any major biz that were set up in Nigeria?
OBJ growth could be seen in d telecoms coys, and a huge increase in reserves, etc. Buhari was an era of slow growth yet we can see d infrastructure like d rail lines, second Niger bridge, roads like Lagos Ibadan and we also saw d emergence of fintechs, private universities blossomed and fx policies led to backward integration in coys that deal in tiles and ceramics, etc. Unfortunately too much debt and printing of excess cash in quantitative easing set up so much inflation.

Tinubu era is seeing an era in huge accumulation of reserves, consolidation of local refineries starting with Dangote, a $20b addition to our GDP, plus d attendant value chain, signature infrastructure masterpiece like d coastal roads and with d tax bills becoming law, Nigeria is likely to witness an almost doubling of govt revenue. This era also promises growth in d power sector with states getting off d national grid and setting up state grids due to d constitutional amendment removing power from exclusive list. Tinubu reforms have been so painful without doubt but there is considerable hope that we shall see d gains soon

Ngwamankillyou2:
Wait till 2027 before wailing in hunger.

i no be lazy youth like u wey d wail since february last year
very lazy Nigerian youth

Odibembem:
The Jonathan era was that of consumption and depletion. All our growth went into consumption, Nigerians were travelling, spending their debit cards abroad, capital was flowing out, massive rice importation, reserves were depleted. Comedians, actors and entertainers made money which they consumed. Can u pin point any major infrastructure during that era or any major biz that were set up in Nigeria?
OBJ growth could be seen in d telecoms coys, and a huge increase in reserves, etc. Buhari was an era of slow growth yet we can see d infrastructure like d rail lines, second Niger bridge, roads like Lagos Ibadan and we also saw d emergence of fintechs, private universities blossomed and fx policies led to backward integration in coys that deal in tiles and ceramics, etc. Unfortunately too much debt and printing of excess cash in quantitative easing set up so much inflation.

Tinubu era is seeing an era in huge accumulation of reserves, consolidation of local refineries starting with Dangote, a $20b addition to our GDP, plus d attendant value chain, signature infrastructure masterpiece like d coastal roads and with d tax bills becoming law, Nigeria is likely to witness an almost doubling of govt revenue. This era also promises growth in d power sector with states getting off d national grid and setting up state grids due to d constitutional amendment removing power from exclusive list. Tinubu reforms have been so painful without doubt but there is considerable hope that we shall see d gains soon

Which school did you go to abeg

Because your knowledge of economics n basic governance is so bad it should be a crime

Thinking daugote refinery valued at 20 billion dollars would add 20 billion to out GDP is the worst understanding of GDP ever

Bro please please pick up economics text or simply google to educate yourself
Damn

mrvitalis:
Which school did you go to abeg

Because your knowledge of economics n basic governance is so bad it should be a crime

Thinking daugote refinery valued at 20 billion dollars would add 20 billion to out GDP is the worst understanding of GDP ever

Bro please please pick up economics text or simply google to educate yourself
Damn

I was waiting for u to prove him wrong instead u just picked a particular point to drag.
It seems u're a pdp supporter but even Ngozi said it then that Nigeria should do more of saving under GEJ but the reverse was the case and when he even wanted to remove the subsidy, tinubu and his cronies stood against it

So in conclusion all Nigerian politicians are the same, pls don't try defending any of them, I vividly remember that a bag of rice was around 8-15k but people couldn't still afford it

All this wahala started under GEJ after years of bountiful harvest and saving under OBJ, then came Jonathan who ushered in an era of spending, the finance minister cried for more saving but it all fell on the deaf ears of politicians, then we thought things weren't going to get worse but the unimaginable happens when oil prices fell in 2015 and Nigeria experienced momentary recession, they now remembered that advice and the last resort was now borrowing and printing of cash which buhari resorted to. Things started getting better until the COVID struck again in 2019, this time around causing a worldwide economic lockdown and thus the problem of borrowing persisted under buhari.
With tinubu coming in seeing the state of cash flow and the level of debt he had no other option than to float the naira and remove subsidy which was even dubious at first.
(Factoring in population increase as all these were happening, because Nigerians sometimes think these little things concerns the government alone but now everybody is affected)

IyanAtiEgusi:
i no be lazy youth like u wey d wail since february last year
very lazy Nigerian youth

Your people cry more...you are poorer than fulanis.

Ngwamankillyou2:
Your people cry more...you are poorer than fulanis.

u sniff in between ur mama legs today so?

Championhala:
I was waiting for u to prove him wrong instead u just picked a particular point to drag.
It seems u're a pdp supporter but even Ngozi said it then that Nigeria should do more of saving under GEJ but the reverse was the case and when he even wanted to remove the subsidy, tinubu and his cronies stood against it

So in conclusion all Nigerian politicians are the same, pls don't try defending any of them, I vividly remember that a bag of rice was around 8-15k but people couldn't still afford it

All this wahala started under GEJ after years of bountiful harvest and saving under OBJ, then came Jonathan who ushered in an era of spending, the finance minister cried for more saving but it all fell on the deaf ears of politicians, then we thought things weren't going to get worse but the unimaginable happens when oil prices fell in 2015 and Nigeria experienced momentary recession, they now remembered that advice and the last resort was now borrowing and printing of cash which buhari resorted to. Things started getting better until the COVID struck again in 2019, this time around causing a worldwide economic lockdown and thus the problem of borrowing persisted under buhari.
With tinubu coming in seeing the state of cash flow and the level of debt he had no other option than to float the naira and remove subsidy which was even dubious at first.
(Factoring in population increase as all these were happening, because Nigerians sometimes think these little things concerns the government alone but now everybody is affected)

Who was the person that headed the campaign against saving during Jonathan? Was it not Tinubu

Who took good luck to court supreme Court to force the money to be shared was it not APC?

What exactly do you want me to disprove

mrvitalis:
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

Until shell staff took shell to the national assembly and was ready to go on strike before their salary was increased.
Shell was following nnpc as the least paid then.
Grew up in oil, oil servicing industry and their politics. Shell exploited Nigerian workers so much most of their senior staff left in Drones.
My inlaw left in annoyance to Saudi biggest oil company and most of shell seniors were recruited by that company. That was when they know they had to do something.

Odibembem:
The Jonathan era was that of consumption and depletion. All our growth went into consumption, Nigerians were travelling, spending their debit cards abroad, capital was flowing out, massive rice importation, reserves were depleted. Comedians, actors and entertainers made money which they consumed. Can u pin point any major infrastructure during that era or any major biz that were set up in Nigeria?
OBJ growth could be seen in d telecoms coys, and a huge increase in reserves, etc. Buhari was an era of slow growth yet we can see d infrastructure like d rail lines, second Niger bridge, roads like Lagos Ibadan and we also saw d emergence of fintechs, private universities blossomed and fx policies led to backward integration in coys that deal in tiles and ceramics, etc. Unfortunately too much debt and printing of excess cash in quantitative easing set up so much inflation.

Tinubu era is seeing an era in huge accumulation of reserves, consolidation of local refineries starting with Dangote, a $20b addition to our GDP, plus d attendant value chain, signature infrastructure masterpiece like d coastal roads and with d tax bills becoming law, Nigeria is likely to witness an almost doubling of govt revenue. This era also promises growth in d power sector with states getting off d national grid and setting up state grids due to d constitutional amendment removing power from exclusive list. Tinubu reforms have been so painful without doubt but there is considerable hope that we shall see d gains soon

pls the rail lines and second naija bridge project never started under buhari he just completed it

mrvitalis:
Who was the person that headed the campaign against saving during Jonathan? Was it not Tinubu

Who took good luck to court supreme Court to force the money to be shared was it not APC?

What exactly do you want me to disprove

it wasn't apc but almost all state governors both pdp and APC, tinubu only stopped subsidy removal which I mentioned.
So pls go back to that statement never defend a Nigerian politician bc they are all same

sulaak:
In 2023, the Nigerian Bureau of Statistics (NBS) updated its unemployment data methodology to include casual and self-employed workers. This change led to a significant drop in the unemployment rate from 33.3% to about 5%.



https://nairametrics.com/2024/11/16/fg-to-rebase-inflation-gdp-data-in-2025-to-drive-policy-accuracy-investment/

SAD

Championhala:
it wasn't apc but almost all state governors both pdp and APC, tinubu only stopped subsidy removal which I mentioned.
So pls go back to that statement never defend a Nigerian politician bc they are all same

Oga APC was at the forefront of it

Tinubu even made the famous statement "how can you save when you have present need " Only Peter Obi and one other govenor supported saving

Okonji books is there go read it

descarado:
Until shell staff took shell to the national assembly and was ready to go on strike before their salary was increased.
Shell was following nnpc as the least paid then.
Grew up in oil, oil servicing industry and their politics. Shell exploited Nigerian workers so much most of their senior staff left in Drones.
My inlaw left in annoyance to Saudi biggest oil company and most of shell seniors were recruited by that company. That was when they know they had to do something.

Exactly... This boys don't want to understand that APC killed Nigeria

An oil company worker can't afford a direct Belgium 5 year old car now... Impossible

mrvitalis:
Oga APC was at the forefront of it

Tinubu even made the famous statement "how can you save when you have present need " Only Peter Obi and one other govenor supported saving

Okonji books is there go read it

but u agree that pdp were also involved.
Moreover if it was just southern Nigeria, tinubu's policy might have worked but due to the level of homeless people in the north it might not.
And with the promises of all three presidential aspirants whoever entered will have encountered same thing happening today, in as much as there's not much revenue inflow Nigeria is not yet ripe for floating and subsidy removal.
So my points still stands what we're experiencing never started today

Believeintruth:
Between 2008 till 2015 people were buying new cars. So stop being mischievous.

Even in the 70s people bought new cars in Nigeria via hire purchase which is a form of financing so what are you saying.

See where you shifted argument to, don't compare financing with outright purchase, we are talking about outright purchase.
In the 70/80s, we have more new vehicles on our roads compared to 90/2000 vis a vis Tokunbo.
2000 to pre APC, we have more Tokunbo compared to 9ja use, so many go even dey talk say, run for 9ja use
This year, first quarter, custom recorded zero duties on Tokunbo, first half, they recorded about 100bn or so
Come up with your stats on high rate of individuals owning new vehicles in Nigeria.
I prefer facts and figures, I'm yet to see when our average salary as a nation can buy a new vehicle

OlujobaSamuel:
See where you shifted argument to, don't compare financing with outright purchase, we are talking about outright purchase.
In the 70/80s, we have more new vehicles on our roads compared to 90/2000 vis a vis Tokunbo.
2000 to pre APC, we have more Tokunbo compared to 9ja use, so many go even dey talk say, run for 9ja use
This year, first quarter, custom recorded zero duties on Tokunbo, first half, they recorded about 100bn or so
Come up with your stats on high rate of individuals owning new vehicles in Nigeria.
I prefer facts and figures, I'm yet to see when our average salary as a nation can buy a new vehicle

Oga stop dancing everywhere you claimed you were yet to see anyone purchasing new vehicles in 2014. I told you that people purchased new vehicles, go and ask those in Coscharis and Hyundai. Leave our corporates that took loans. People were buying and paying cash down for it.
The thing is you re highly ignorant and you are taking what you are saying as fact. I was a banker and I interacted then with sales people in Coscharis and Hyundai. Guy just admit you never knew people were buying brand new cars and paying cash down or do you think it was only salary earners that buy new cars?

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 has nothing to do with being bitter soul

Obj, Yaradua, Jonathan all had good economies in there era

That's why Gej era were able to rebase it

Presently Nigeria has has 2 recession since 2015

The naira have lost so much value
As low as going to 1700 to the $

Nigerian economy presently have gone down to no 4 in Africa

So there's a very big work cut out for this present government

Post 2015 era can't be compared to 1999 to 2015 since we embraced democracy again

So we are talking about verifiable real Data from enlightened/educated minds not market/beer parlour gossip talk that discourse about Nigerian economy always descends to of recent.

Believeintruth:
The essence of rebasing evey 5 years is to include new sectors. Please mention any new sector in Tinubu's government. They are now trying to add an informal sector that cannot be quantified but at best estimated and we know how fraudulent estimated figures can be.

The problem is that folks like you think everything is all about Tinubu. In 2014 when the Jonathan administration rebased the economy, they updated the base year from 1990 to 2010. Jonathan became acting president in 2010 and was elected as a substantive president in 2011. Yet, he took the glory for moving the economy to number one in Africa as a result of rebasing that covered a period in which he was not the president.

So, your point about Tinubu who became president just last year opening or not opening new sectors is irrelevant. This is about Nigeria and not president Tinubu. We can’t be using a template of 2010 to calculate our GDP in 2025. A whole lot has happened in the 15 years period. At least, let’s rebase to 2020 to reflect all new sectors. If we have no new sectors since 2010 simply because Tinubu became president in 2023, the data will show everything. Stop the hatred and let the government do their thing.

Believeintruth:
Oga stop dancing everywhere you claimed you were yet to see anyone purchasing new vehicles in 2014. I told you that people purchased new vehicles, go and ask those in Coscharis and Hyundai. Leave our corporates that took loans. People were buying and paying cash down for it.
The thing is you re highly ignorant and you are taking what you are saying as fact. I was a banker and I interacted then with sales people in Coscharis and Hyundai. Guy just admit you never knew people were buying brand new cars and paying cash down or do you think it was only salary earners that buy new cars?

Same you that said HP(financing) the other time is now saying cash down.
Seems you don't know where you stand. Shalom