₦airaland Forum

LegendHero:
You don’t know what you are saying. All country base their GDP in local currency. That is how they compare their growth rate yoy.

If GDP is the total amount of goods and service produced in a country, then why will they measure in dollar as the base value? What is the sense in that? Are they selling and buying in USD in all country?

The only reason they bring in USD is for international comparison and nothing else. Those are usually done by agencies like Worldbank, IMF, and etc to standardize the value across all countries to measure the data point better.

@the second bold statement, stop saying nonsense again. Our GDP is measured in naira by CBN and below is the source to CBN website. Check it.

Go and check the source of everywhere you see our GDP quoted in USD, they are usually international source.

https://www.cbn.gov.ng/rates/NominalGDP.html?tyear=2024

The bolded shows you don't know jack about international business or international economics.

Again, when countries are to be checked the USD is the base for weighing any economy same as it is also used in international business.

Also, using the USD for comparison shows how the value of a country can only be truly assertained by a single scale of currency. That's why the poverty index is Alo in USD and that's why countries don't take loans in heir loca currency.

In essence, the true monetary value of a nation's GDP can only be gotten through the USD and not through it's local currency since the value of nations currencies is volatile compared to the USD.

Dbegining:
Firstly, I didn't lie. I made an assumption.
Secondly, our debt profile isn't the same as the amount Tinubu has borrowed. Those screenshots I posted are facts. And those loans weren't taken by previous governments but by Tinubu's government. Or should I post links too? Since you have a comprehension problem.

Post any link you have.

Let me tell you, Tinubu paid off our IMF loan to less than $1bn from the over $3bn he met it.

That world bank figure being bandied around is not the full picture, the amount Tinubu borrowed from world bank that reflect on our account is not even up to $5bn. Yet he paid of IMF loan so it’s a net +- game.

Lastly, don’t just use your assumption on a public forum. You should not just throw around false statement because you want to win an argument.

Update: The image of IMF I uploaded is not showing. Seems I’ve reach my picture update limit.

But here is the link to statisense on that.
[quote]Indebtedness to IMF — Nigeria

Q2 2023 — $3.26 billion
Q4 2024 — $800.23 million

#Statisense
(DMO)

Source: https://x.com/statisense/status/1913154508554715543?s=46[/quote]

LegendHero:
Post any link you have.

Let me tell you, Tinubu paid off our IMF loan to less than $1bn from the over $3bn he met it.

That world bank figure being bandied around is not the full picture, the amount Tinubu borrowed from world bank that reflect on our account is not even up to $5bn. Yet he paid of IMF loan so it’s a net +- game.

Lastly, don’t just use your assumption on a public forum. You should not just throw around false statement because you want to win an argument.

Update: The image of IMF I uploaded is not showing. Seems I’ve reach my picture update limit.

But here is the link to statisense on that.

Rubbish talk again. I didn't bring up IMF. I brought up the World bank and ISDB.

I didn't say anything about the IMF. Tinubu paid up IMF loan but took more loans from the world bank and ISDB.

Now, about my assumption; you were taking about debt and strikes and how Argentina is faring no better than Nigeria. What I did was prove you wrong by telling you that Tinubu has taking loans too and also had strikes under him. And yes, that's a fact.

And still Argentina is still doing better, far better than Nigeria under the same timeline.

Tinubu is just clueless.

Dbegining:
The bolded shows you don't know jack about international business or international economics.

You obviously don’t know who you are talking to. So I forgive you.

Again, when countries are to be checked the USD is the base for weighing any economy same as it is also used in international business.

Also, using the USD for comparison shows how the value of a country can only be truly assertained by a single scale of currency. That's why the poverty index is Alo in USD and that's why countries don't take loans in heir loca currency.

In essence, the true monetary value of a nation's GDP can only be gotten through the USD and not through it's local currency since the value of nations currencies is volatile compared to the USD.

Stop mixing things and saying jargonns. USD does not define the intrinsic value of a country economy, all countries in the world will still value the good and services in the local currency. This is a fact that no one can argue and not look like a dummmmy.

Who tell you we only take loan in USD? What about all those domestic debt, treasury bills, and bonds from domestic investors? Are they not all taken in Naira?

The only loan we take in USD is foreign loan and that is essentially because the USD is more stable and the standard for international transaction.

I think you will just be reducing my brain cell if I keep arguing with someone that does not even understand simple definition of GDP.

Dbegining:
Rubbish talk again. I didn't bring up IMF. I brought up the World bank and ISDB.

I didn't say anything about the IMF. Tinubu paid up IMF loan but took more loans from the world bank and ISDB.

Now, about my assumption; you were taking about debt and strikes and how Argentina is faring no better than Nigeria. What I did was prove you wrong by telling you that Tinubu has taking loans too and also had strikes under him. And yes, that's a fact.

And still Argentina is still doing better, far better than Nigeria under the same timeline.

Tinubu is just clueless.

But I just showed you our loan balance between 2023 and Q4 2024 and none of it reflect the jargons you are talking about.

Nope, Nigeria and Argentina are incomparable. Between 2022 and present, Argentina borrowed $64bn from the IMF alone. Milei alone borrowed $20bn+ from that.

All Tinubu total net loan no even reach 1/10th of that. Stop comparing two incomparable stuffs.

LegendHero:
Seyi Tinubu is a city boy. Why do you want him to emulate a docile Yusuf?

All Trump children are very active in politics and sometimes they even represent Trump and fly in Airforce One.

Seyi Tinubu should support his dad fully and do whatever he likes. He should not be judged by the standard of Yusuf.

Stop peddling lies of Trump children flying in Airfoce one without their father

LegendHero:
Lol that is just a function of the exchange rate. We will rebase GDP soon and you will see wonders.

Tinubu should just borrow $20bn and defend the naira then GDP automatically skyrocket to X3 so you guys can be very happy.

Rest Argentina is better than Nigeria in all ramifications

Chucks13:
According to your first paragraph pls I need a substantial evidence to back your allegations and I will appreciate that.

I laugh in Loatsad media collecting all the signage contracts in Lagos state this one before daddy became president . Try again you people must think every Nigerian is a semi literate hungry person with no basic discernment.

Wealthoptulent:
make him sef go RIDE POWER BIKE, BREAK HEAD abi?
make e emulate who no know HOW to FISH but just eating?


nau sign the CONTRACTS?

the SKILL is hi working and not JUST SPENDING unlike YUSUF, was never YUSFUL in anything to HIS fathers REGIME

Earning and working on what? Two cups of rice funded by government money to be distributed to people that have no food, jobs or basic infrastructure?

I know the N50k they give you people to come online posting nonsense has fried your brains but truly you don’t want us to post what we know about this dude on a platform like this.

I laugh in spending our money funding oloshos, partying and out of wedlock children smh. But then if you don’t know better you cannot do better


That must be the working hard you people are paid to tell us about oloriburuku oshi

Babamide:
Yoruba people are senseless. Small thing, they would be shouting "do you know who my father is?"
A Yoruba person cannot live under the radar, if small money or position enter them hand, everyone must know and feel it.
I am fully Yoruba before you come for me abeg.

As a Yoruba man, I can vouch for this.

truth

Putindbutt:
Will you keep quiet, Same Nigerians insulting Yusuf for riding a bike and almost killed himself. cho cho cho everywhere.. Let this SUG guy bring out his proof against Seyi and let Elrufai pay him well for the propaganda. Losers.

[color=#006600][/color]

Is riding a bike a bad thing?

Namigotalktru:
I laugh in Loatsad media collecting all the signage contracts in Lagos state this one before daddy became president . Try again you people must think every Nigerian is a semi literate hungry person with no basic discernment.

Here we go this is how a liar is caught. I only asked for evidence and I told you I will appreciate it the next you do is to start firing missiles of insults which simply means you are a liar and one of the jobless obidient propagandist.

However, if you like cry till tomorrow Tinubu will only vacate Aso Rock by 2031 and you can't do anything about it and Seyi will remain his son so you too pray your father make it in life so you can join Seyi group and be collecting contracts too or better thing not fitting your destiny?

LegendHero:
Nope. It will increase because it has always been increasing these past years just that the growth % is still small. It’s 3% yoy when it should have been 7% at least.

Our GDP can increase and it will keep increasing especially when they rebase soon.

My argument is that the only major direct reason for the sharp decrease like over 200% wipe off is majorly because of the naira devaluation.

—A day before Tinubu devalue the currency, our GDP was $363bn

—A day after naira devaluation, GDP fell to almost $190bn

Tell me any economics in the world you will use to explain that abrupt decrease of over 100% in 1 day.

So why hasn't it increased for about 2 years now and why is it still decreasing instead?

An at what point would it start increasing and when would that be?

And please don't talk about rebasing here because the rebasing does not increase the salary or earnings of any Nigerian...

LegendHero:
GDP is a function of the local currency of that country. That is how you measure relative GDP for a county.

So if in 2015, your GDP is N100million, then to compare to other countries, you convert to USD at $1 = N250.

If you devalue your currency in 2023, if your GDP is 200million, if you want to compare to other countries same USD is at $1 = 750, then the value drops in $$.

You call yourself an economist, but you don’t know the basic economics. Read below.

Keep your 100k, it won’t buy me comfort for one night in a lounge.

Forget about the conversion to dollar in comparison with other local performance of other nations. What's the GDP and REAL GDP like in the last 12 years?

The economy is projected to grow significantly every 15 Years if there's a favourable macroeconomic environment. The working population is growing, government policies and collaboration with the private sector decides the rest.

LegendHero:
Post any link you have.

Let me tell you, Tinubu paid off our IMF loan to less than $1bn from the over $3bn he met it.

That world bank figure being bandied around is not the full picture, the amount Tinubu borrowed from world bank that reflect on our account is not even up to $5bn. Yet he paid of IMF loan so it’s a net +- game.

Lastly, don’t just use your assumption on a public forum. You should not just throw around false statement because you want to win an argument.

Update: The image of IMF I uploaded is not showing. Seems I’ve reach my picture update limit.

But here is the link to statisense on that.

Maybe you've forgotten that he started signing requests to borrow massively in his first 100 days in office. Have you also forgotten that he wrote to China, but they turned down his loan request of about $22bn?

Regarding the loans paid off... He didn't pay off those loans. The DMO paid off because of the maturity date, and to help process his requests. You can validate by finding out the administration that took the loan and the tenor.


By the way, he still has local loans running quarterly, yearly..

Chucks13:
Here we go this is how a liar is caught. I only asked for evidence and I told you I will appreciate it the next you do is to start firing missiles of insults which simply means you are a liar and one of the jobless obidient propagandist.

However, if you like cry till tomorrow Tinubu will only vacate Aso Rock by 2031 and you can't do anything about it and Seyi will remain his son so you too pray your father make it in life so you can join Seyi group and be collecting contracts too or better thing not fitting your destiny?

Go and tell your masters we are tired hungry and their time is up.

2031 ronu you people think you will dictate to God whether you will even see 2026?

You asked for evidence you got it but then what do you know you are remote controlled brainless stooges sent online to keep repeating the same nonsense for peanuts

Sharpsharp00123:
God bless u

Same Yusuf they insulted when he had accident on bike n they didn't even care about his life but are more concerned about how he got money to buy that kinda expensive bike when he doesn't have any job.

Some Nigerians are something else

They insulted because they think he was not behaving well not knowing that we will have somebody that will be worst than him.
It is just like the way you guys insulted Johnathan hoping that buhari is the saviour.
People insulted Buhari not knowing that something worse than Buhari is coming.

There is no joy in Nigeria.

AMI3:
They insulted because they think he was not behaving well not knowing that we will have somebody that will be worst than him.
It is just like the way you guys insulted Johnathan hoping that buhari is the saviour.
People insulted Buhari not knowing that something worse than Buhari is coming.

There is no joy in Nigeria.

don't b stupid

Not everyone supporting APC today supported Buhari, only fools believe one individual is a saviour

Nigerians are myopic n that's y they can call Buhari n obi saviour

Check Buhari record as at 1983 n check obi record too n they are far from being called saviours

Namigotalktru:
Go and tell your masters we are tired hungry and their time is up.

2031 ronu you people think you will dictate to God whether you will even see 2026?

You asked for evidence you got it but then what do you know you are remote controlled brainless stooges sent online to keep repeating the same nonsense for peanuts

You are still in pain sorry then but Tinubu is your president till 2031, take it or burst it.

Sharpsharp00123:
don't b stupid

Not everyone supporting APC today supported Buhari, only fools believe one individual is a saviour

Nigerians are myopic n that's y they can call Buhari n obi saviour

Check Buhari record as at 1983 n check obi record too n they are far from being called saviours

Who mentioned Obi?
Some of u can be so stupid and annoying a times. For u to use the word "stupid' shows how annoying u could be.
Because u support Tinubu does that mean that people can not criticize him or his son?

Anybody that keep praising u without pointing out ur faults is a sycophant people like u are among the sycophants.

For the fact

AMI3:
Who mentioned Obi?
Some of u can be so stupid and annoying a times. For u to use the word "stupid' shows how annoying u could be.
Because u support Tinubu does that mean that people can not criticize him or his son?

Anybody that keep praising u without pointing out ur faults is a sycophant people like u are among the sycophants.

For the fact

chinedu nobody is a Messiah n don't expect any politician to come n save u

They are all d same

Sharpsharp00123:
chinedu nobody is a Messiah n don't expect any politician to come n save u

They are all d same

Taiwo there better people in Nigeria. Not all Nigerians are bad.
U can be the messiah and other person can be too.
I still believe in Nigeria.

AMI3:
Taiwo there better people in Nigeria. Not all Nigerians are bad.
U can be the messiah and other person can be too.
I still believe in Nigeria.

ok

But obi is not the Messiah to save us, he didn't save people in tiny anambara so how can he save d whole Nigeria

Sharpsharp00123:
ok

But obi is not the Messiah to save us, he didn't save people in tiny anambara so how can he save d whole Nigeria

When did I mention Obi?
Did you dreamed of him today brother Taiwo?

LegendHero:
Stop saying what you don’t know. Argentina GDP fell sharply upon Milei devaluation.

The only place where you’ll hear their GDP growth is when they project 2025 - 2031 figure and that is a projection. Even during Jonathan, with is naira defense, he still had to rebase GDP by over 90% to give the image of growth.

You initially quoted me asking me to show you book that shows GDP is calculated in local currency. After you saw the evidence, you are now digressing.

I will repeat it again. As at June 2023, Nigeria GDP in $$ fell compared to Buhari GDP value of 1 month before. Tell me any country in this world where GDP will just fall almost 100% within just few days if you won’t factor in the devaluation.

So what did Tinubu do different in just one single month that suddenly plunged the GDP figure to be -100%+ of what Buhari left it few days before that? Did war happen?

Argentina GDP fell?
Provide evidence sir

I have provided evidence it rose

There is also evidence obj devalued the naira by 50% yet GDP grew...

[quote author=NGsultan post=135210096][/quote]Metcheeeeeew! What nonsense is this one saying? So, you expect Seyi, a proper Lagos Boy to dull himself riding Okada all over the play for 8 years abi? If you get nothing productive to say you better keep quiet Aboki!

Emulate nonsense. Innocent people are dying everyday because of wicked people like you. Idiot.

Yusuf the silent thief.
Bought bikes he can't afford

Chucks13:
You are still in pain sorry then but Tinubu is your president till 2031, take it or burst it.

He can be your president until you die sef in fact until the time of your great grandchild that one concern you paid slaves.