₦airaland Forum

Let's wait until after the rebasing of the GDP base year.

2014 rebasing (setting benchmark year from 1990 to 2010) alone caused GDP to rise from N42T ($270B) to N80T ($510B) based on prevailing forex rates. This rebasing allowed rapidly grown/growing sectors Nollywood (entertainment), telecommunications (mobile phones) and local trading to be introduced in the GDP calculation hence the big immediate jump.

There are plans to rebase again in 2015 (benchmark = 2019) to recognize shifting trends towards e-commerce, gig economy, digital/social economy (FB, IG, tik tok) and other economic activities not included in the 2014 methodology.

Rebasing does not mean you have suddenly grown the economy. It simply recognizes that there may be newer economic activities that have not been captured in the existing GDP calculation.

And then, there is the element of the forex rate. GDPs are first measured in the local currency. Depending on prevailing forex rates (until the recent exchange rate liberalization, naira was basically propped by the CBN), $GDP values may swing. It is important to consider the value of deliberate devaluation of our local currency in this instance.

I say all these to emphasize that Nigerians need to move away from the simplistic table of numbers and question if and how we are seeing actual measurable growth in economic activities.

The west were angry at Jonathan achievement. Obama furiously threatened him to coceive defeat else.....,


They are all happy now

Jonathan worked with the best minds.akinwumi adeshina, olusegun aganga etc

Bihari work with half politician, half activists .

Tinubu is working with total crook politicians.

VeeVeeMyLuv:
What of per capita of $800 down from $2200?

PBAT has made sure that today average Nigerians can no longer afford the basic needs of man like food, clothing, shelter! these are the basic necessities of life.

Per capita is tied to GDP too.
It was a fake and unsustainable per capita where Nigeria was borrowing money to pay workers and states were all going bankrupt.
They didn't have money to pay workers.
ASUU was on a long spree strike etc.

I am also feeling the pain including all Nigerians,except maybe,the politicians.
Things are getting better than when the subsidies were initially removed.
It Will get better and Nigeria's growth will be a real organic one.Just watch how the GDP will grow exponentially in a few years now.
God bless Nigeria and Nigerians.

Angelfrost:
What Nigeria lost under Buhari will take an honest and brilliant set of leaders at least 20 years of consistent good leadership to recover...!


Key words above are:

Honest and Leadership!

Ogbeni, abeg stop deceiving yourself. What Tinubu met wasn’t as bad as what OBJ met. Pls call a spade a spade, this man is a total failure, stop defending him ignorantly. I just pity the poor Nigerians, if this man mistakenly won the second term election, just expect another promax shege. Unfortunately, Nigerians don’t learn from mistakes, if Buhari could deceive them and won the second term election despite his failure.

DMerciful:
You are shameless

keep deceiving yourself. Crude oil is what helped densed Jonathan

Paramount01:
Pls tell me the economic gain made under Jonathan?

Many of you are just following without thinking.
Obj handed over debt free nation to Jonathan ,
Jonathan enjoy increased in oil output and sales making him generate more money than other former head of state combine together.
Obj left $67 billion in reserve.
Jonathan squander everything still left debt if $7trillin with 23 states unable to pay salary.

At least the economy was very stable … there was no unchecked inflation like you have today … go to market and see what’s happening….a solar charging fan that was bought for 45k last year is now 120k … that’s just one item … food inflation is even worse … just rest Oga … I know you want to defend your party but, the most important thing any President should do to have a smooth run is to ensure that food and security are well taken care of … that’s all the masses need… but sadly This govt has taken even those two away from the masses … so I don’t even understand what you are defending… Abi you nor dey Nigeria

mohbadliveson:
How i seriously long for the Jonathan years. God punish all those who deceived us with change

You mean the years of looting by Deziani? No wonder Jonathan did not execute any projects.

How much barrels per day was Jonathan doing? How many did Buhari do? Hiw many is Tinubu doing?

Abloh:
keep deceiving yourself. Crude oil is what helped densed Jonathan

Ofemannnu:
Per capita is tied to GDP too.
It was a fake and unsustainable per capita where Nigeria was borrowing money to pay workers and states were all going bankrupt.
They didn't have money to pay workers.
ASUU was on a long spree strike etc.

I am also feeling the pain including all Nigerians,except maybe,the politicians.
Things are getting better than when the subsidies were initially removed.
It Will get better and Nigeria's growth will be a real organic one.Just watch how the GDP will grow exponentially in a few years now.
God bless Nigeria and Nigerians.

It will be more like the rich getting richer and the poor getting poorer
No middle class

Just like some of those south American countries and sub Saharan African countries

Murketeer:
At least the economy was very stable … there was no unchecked inflation like you have today … go to market and see what’s happening….a solar charging fan that was bought for 45k last year is now 120k … that’s just one item … food inflation is even worse … just rest Oga … I know you want to defend your party but, the most important thing any President should do to have a smooth run is to ensure that food and security are well taken care of … that’s all the masses need… but sadly This govt has taken even those two away from the masses … so I don’t even understand what you are defending… Abi you nor dey Nigeria

This is the result of 2024 security report across the country and what the governor of plateau say about insecurity before coalition talks start. Except you dnt trust channels report again