₦airaland Forum

Yemi Kale and giant of Africa is now 188B dollar economy as Kenya is 130B.

rvp2018:
Yemi Kale and giant of Africa is now 188B dollar economy as Kenya is 130B.

Lol. We shall see.

I would quote this data by end of May or June.

Note that according to thesame IMF, Nigeria’s PPP since 2023 have been growing at a greater rate and not shrinking and for the IMF is often ranked first in Africa. Nigerian economy grew by 3.4% in 2024 for only the second time in a decade (the only other time was in 2021 after a recession in 2020).

Before the end of May, the GDP for Q1 would likely be released.

Ahead of its release, World Bank director in Nigeria said Nigeria remains the largest economy in Africa. This makes sense because Argentina and some other countries have also had their currencies devalued massively but they are still growing in dollar terms even though they faced a recession. So ignore IMF projections until Nigeria releases her gdp figures later on.

GeneralDae:
Lol. We shall see.

I would quote this data by end of May or June.

Note that according to thesame IMF, Nigeria’s PPP since 2023 have been growing at a greater rate and not shrinking and for the IMF is often ranked first in Africa. Nigerian economy grew by 3.4% in 2024 for only the second time in a decade (the only other time was in 2021 after a recession in 2020).

Before the end of May the GDP for Q1 would likely be released.

Ahead of its release, World Bank director in Nigeria said Nigeria remains the largest economy in Africa. This makes sense because Argentina and some other countries have also had their currencies devalued massively but they are still growing in dollar terms even though they faced a recession. So ignore IMF projections until Nigeria releases her gdp figures later on.

Economy are quantify in dollar terms. For Nigeria to regain her position back as Africa largest economy, she must work on her currency, it falls just way below the normal or average curve.


In reality, Nigerians are not doing well economically, except you are earning in dollars, An average Nigeria has become more poreer.

vaxx:
Economy are quantify in dollar terms. For Nigeria to regain her position back as Africa largest economy, she must work on her currency, it falls just way below the normal or average curve.


In reality, Nigerians are not doing well economically, except you are earning in dollars, An average Nigeria has become more poreer.

No sir, economy is not measured in dollar terms. Dollar is only important here for global comparisons. This is why despite the rate of depreciation of the Argentine peso last year when it lost as much of a percentage as that of Nigeria, their economy did not shrink even in dollar terms.

GeneralDae:
No sir, economy is not measured in dollar terms. Dollar is only important here for global comparisons. This is why despite the rate of depreciation of the Argentine peso last year when it lost as much of a percentage as that of Nigeria, their economy did not shrink even in dollar terms.

oga, for international comparison, your economy will be converted into dollar using the current market exchange rate . If your goods and service production are calculated in naira , even if it gives you trillions, so far it falls flat behind major world dominant currency (dollars), it simply means your country is basically not doing well. Argentina is even considering dollarization to curb inflation . Check peso , you will realized it is actually fluctuating rather than loosing values . Naira is the opposite .

vaxx:
oga, for international comparison, your economy will be converted into dollar using the current market exchange rate . If your goods and service production are calculated in naira , even if it gives you trillions so far it falls flat behind major world dominant currency (dollars), it simply means your country is basically not doing well. Argentina is even considering dollarization to curb inflation . Check peso , you will realized it is actually fluctuating rather than loosing values . Naira is the opposite .

What are you saying Oga? Peso lost value almost at thesame rate as the naira in early 2024 due to their devaluation. It has depreciated almost thesame way the naira depreciated since 2023.

GeneralDae:
What are you saying Oga? Peso lost value almost at thesame rate as the naira in early 2024 due to their devaluation. It has depreciated almost thesame way the naira depreciated since 2023.

Argentina is currently considering dollarization , they understand it is a sure way to curb inflation.

Peso is not under significant threat as naira , peso absorbed more external shocks than naira. Peso falls is part of economic reform effort, which might lead to stabilization in the long run, naira' problem are issues like oil dependency and foreign exchange shortages.

You can't compare orange and apple , they are both different types of fruit.

Naira is facing the same issue with Egyptian pounds ( foreign exchange shortages ).

vaxx:
Argentina is currently considering dollarization , they understand it is a sure way to curb inflation.

Peso is not under significant threat as naira , peso absorbed more external shocks than naira. Peso falls is part of economic reform effort, which might lead to stabilization in the long run, naira' problem are issues like oil dependency and foreign exchange shortages.

You can't compare orange and apple , they are both different types of fruit.

Naira is facing the same issue with Egyptian pounds ( foreign exchange shortages ).

Peso moved from around 380 in 2023 to around 1200 currently. Naira moved from 460 to 1600. That’s almost similar depreciation, so why is Argentine GDP growing in dollar terms despite the fact that they even had a recession?

Answer this straightforwardly, no shalaye.

Also, Argentina has a net negative reserves currently which is why they borrowed 20 Billion dollars from IMF recently. Nigeria doesn’t have a net negative reserves. So between Nigeria and Argentina, who lacks foreign exchange more?

GeneralDae:
Peso moved from around 380 in 2023 to around 1200 currently. Naira moved from 460 to 1600. That’s almost similar depreciation, so why is Argentine GDP growing in dollar terms despite the fact that they even had a recession?

Answer this straightforwardly, no shalaye.

simply because Argentina production and services are way doing better or has perform much more more better than the previous year .


And there is statistics for that.


Argentina is almost growing by 8 percent absorbing external shocks more more than Nigeria

vaxx:
simply because Argentina production and services are way doing better or has perform much more more better than the previous year .


And there is statistics for that

Can you show me this statistics? Note that Argentina was in a recession last year, so how come their production did better than the previous year and they entered recession? Do you read what you write before submitting?

GeneralDae:
Can you show me this statistics? Note that Argentina was in a recession last year, so how come their production did better than the previous year and they entered recession? Do you read what you write before submitting?

it is on nairaland bro.. front page

GeneralDae:
Can you show me this statistics? Note that Argentina was in a recession last year, so how come their production did better than the previous year and they entered recession? Do you read what you write before submitting?

oga , wetin you dey ask , economy growth does not mean your economy cannot enter recession. If there is much more higher inflation, it will push the economy into recession. Even social issues like political instability can forced an economic into recession

Ghana had once face such experience before

vaxx:
oga , wetin you dey ask , economy growth does not mean your economy cannot enter recession. If there is much more higher inflation, it will push the economy into recession. Even social issues like political instability can forced an economic into recession

Ghana had once face such experience before

Can you show me where Ghana ever faced a recession and still had economic growth?

What is the definition of recession?

vaxx:
it is on nairaland bro.. front page

Lol. You just waste my time. No vex.

GeneralDae:
Lol. You just waste my time. No vex.

I only made it easier for you. Have you checked nairaland front page?

GeneralDae:
Can you show me where Ghana ever faced a recession and still had economic growth?

What is the definition of recession?

ogbeni you can face recession and still has economic growth. Which school una go self ? Read about technical recession or check about significant growth rate. If your economy is not growing proportionally to the population., the case of Ghana in 2020.

Just read about it online .


Ghana economy fall into recession in 2020 despite significant growth rate. Ghana was doing 0.5 rate

vaxx:
ogbeni you can face recession and still has economic growth. Which school una go self ? Read about technical recession or check about significant growth rate. If your economy is not growing proportionally to the population., the case of Ghana in 2020.

Just read about it online .


Ghana economy fall into recession in 2020 despite significant growth rate. Ghana was doing 0.5 rate

U be olodo.
Recession is two quarter of negative growth back to back.
How can u be in Recession and still grow.
Is this thesame education ur president is calling ecowas citizens to come collect.

QuietMynd:
U be olodo.
Recession is two quarter of negative growth back to back.
How can u be in Recession and still grow.
Is this thesame education ur president is calling ecowas citizens to come collect.

Another reasonable reason you guy's need the scholarship asap , you can still be in recession and still grow , it happens in Ghana, I have given you an example. recession are complex and multifaceted. Economy can experience some growth in a quarter and still experience a decline in another. It will still be considered a recession if the overall trend is downward .

Go take a book and read.


You can be in recession and still experience growth. Since it will be a significant growth,it would not be enough to transform the overall economy .

vaxx:
Argentina is currently considering dollarization , they understand it is a sure way to curb inflation.

Peso is not under significant threat as naira , peso absorbed more external shocks than naira. Peso falls is part of economic reform effort, which might lead to stabilization in the long run, naira' problem are issues like oil dependency and foreign exchange shortages.

You can't compare orange and apple, they are both different types of fruit.

Naira is facing the same issue with Egyptian pounds ( foreign exchange shortages ).

See this hypocrite. Who in Nigeria or world don't know that naira depreciation is part of economic reforms and devaluation which might lead to stabilization in the long run?

Most of you don't think. You just come here to argue blindly.

GeneralDae:
Lol. You just waste my time. No vex.

😂😂😂

vaxx:
Another reasonable reason you guy's need the scholarship asap , you can still be in recession and still grow , it happens in Ghana, I have given you an example. recession are complex and multifaceted. Economy can experience some growth in a quarter and still experience a decline in another. It will still be considered a recession if the overall trend is downward .

Go take a book and read.


You can be in recession and still experience growth. Since it will be a significant growth,it would not be enough to transform the overall economy .

Omo.
I will reduce the way I argue with Ghanaians on this platform.
I think i have overestimated ur intelligence in the past.
Nevermind jst 4get about it

vaxx:
I only made it easier for you. Have you checked nairaland front page?

I just hope u won't use this brain of yours to train your children.

forgiveness:
See this hypocrite. Who in Nigeria or world don't know that naira depreciation is part of economic reforms and devaluation which might lead to stabilization in the long run?

Most of you don't think. You just come here to argue blindly.

Since you don't know or failed to know. The continue reason for naira falls is linked to shortage of dollars and the declining rate of foreign reserve. There is not enough dollar with CBN to cushion the effect of dollar on the naira in the major market. And they are even more to it. But make I just stop there.


Now you know . Naira is not just fallen as a control measure , it is fallen due to above mentioned crisis . More Nigerian has become more poorer

theenchanter:
I just hope u won't use this brain of yours to train your children.

which brain are you using to train yours.

QuietMynd:
Omo.
I will reduce the way I argue with Ghanaians on this platform.
I think i have overestimated ur intelligence in the past.
Nevermind jst 4get about it

You are just blabbing. Whatever you say don't have an impact.

Take a book and read.

Recession can occur even when the economy grow. That is what I wrote up there

vaxx:
which brain are you using to train yours.

obviously not ur kind of brain.

theenchanter:
obviously not ur kind of brain.

henhen now tell me which type of brain , the one you used in replying me 😂

theenchanter:
😂😂😂

You always want to be spoon-fed, even when there was reference topic to the above discussion on nairaland page yesterday. You still want me to provide the evidence.

And you are proud to train your children with this kind of brain😂

vaxx:
You always want to be spoon-fed, even when there was reference topic to the above discussion on nairaland page yesterday. You still want me provide the evidence.

And you are proud to train your children with this kind of brain😂

it's ur dispute, You should be able to make your points convincingly. U don't see anyone arguing here and asking the other person to go check a front page.😂

If ur point is so certain for u, just prove it saliently.

***************************************
But don't cross the road with that brain of yours, it many be disastrous.😂

theenchanter:
it's ur dispute, You should be able to make your points convincingly. U don't see anyone arguing here and asking the other person to go check a front page.😂

If ur point is so certain for u, just prove it saliently.

***************************************
But don't cross the road with that brain of yours, it many be disastrous.😂

Not when you have the evidence in your laps. It sounds so irritating and f.oolish

Keep training your children with this type of brain, none concern me, I no be part of una family

vaxx:
oga, for international comparison, your economy will be converted into dollar using the current market exchange rate . If your goods and service production are calculated in naira , even if it gives you trillions, so far it falls flat behind major world dominant currency (dollars), it simply means your country is basically not doing well. Argentina is even considering dollarization to curb inflation . Check peso , you will realized it is actually fluctuating rather than loosing values . Naira is the opposite .

so with all these, and after so many years of your currency redenomination, why hasn't your economy or gdp topped?