₦airaland Forum

Undisputed fact ......

vaxx:
Undisputed fact ......

It is appreciating to fast and causing problems....the BOG might have to intervene else the dollar might be trading at 9 cedis by end of May.

Local gold miners have sold 2.7 billion dollars worth of gold to the government over the last 4 months

vaxx:
If you can't go thru the front page. fact is different from fiction.

TWO DECADES OF 9ja & ARGENTINA GDP

2006 — 🇦🇷$232.9bn | 🇳🇬$$222.8bn

2007 — 🇦🇷$287.9bn | 🇳🇬$266.3bn
2008 — 🇦🇷$363.5bn | 🇳🇬$335.4bn
2009 — 🇦🇷$334.6bn | 🇳🇬$302.5bn

2010 — 🇦🇷$424.7bn | 🇳🇬$374.1bn
2011 — 🇦🇷$527.6bn | 🇳🇬$419.9bn
2012 — 🇦🇷$579.7bn | 🇳🇬$467.2bn
2013 — 🇦🇷$611.5bn | 🇳🇬$521.9bn
2014 — 🇦🇷$563.6bn | 🇳🇬$576.0bn

2015 — 🇦🇷$642.5bn | 🇳🇬$494.3bn
2016 — 🇦🇷$556.8bn | 🇳🇬$405.0bn
2017 — 🇦🇷$643.9bn | 🇳🇬$375.8bn
2018 — 🇦🇷$524.4bn | 🇳🇬$421.7bn
2019 — 🇦🇷$446.8bn | 🇳🇬$474.5bn
2020 — 🇦🇷$385.2bn | 🇳🇬$432.3bn
2021 — 🇦🇷$486.0bn | 🇳🇬$441.1bn
2022 — 🇦🇷$632.3bn | 🇳🇬$476.5bn

2023 — 🇦🇷$645.5bn | 🇳🇬$363.8bn
2024 — 🇦🇷$632.1bn | 🇳🇬$187.6bn
2025 — 🇦🇷$683.5bn | 🇳🇬$188.3bn

#Statisense
(IMF WEO Apr 2025)

OMFG! If this was my govt the president would be literally sh#tting his pants.

The City Capital

Guzape, Abuja

Ogun State Governor, Prince @DapoAbiodunCON commissioned Nigeria’s first large-scale rapid diagnostic test (RDT) production facility, established by CODIX BIO Limited along the Sagamu expressway.

The factory, which is the second of its kind in Sub-Saharan Africa, is set to produce over 147 million test kits annually for HIV, Malaria, and Hepatitis B and C.

Governor Dapo Abiodun described the facility as a major leap in Nigeria’s healthcare innovation, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda aimed at reducing dependence on imported diagnostic tools.

According to the World Health Organization, over 90% of diagnostic kits used in Africa are imported, primarily from Europe, Asia, and North America.

The Minister of Health and Social Welfare, Prof. Ali Pate Muhammad, and Minister of Education, Dr. Tunji Alausa, praised the Governor’s leadership in fostering industrialization and healthcare investment. They called for stronger collaborations between CODIX BIO and academic institutions to develop biomedical talent and expand health innovation.

CODIX BIO’s CEO, Mr. Sammy Ogunjimi, revealed that the facility has been selected by the WHO, SD Biosensor, and MPP under the H-TAP program to serve as a regional manufacturing hub for Africa. The initiative is expected to improve healthcare delivery, create jobs, and enhance Nigeria’s capacity for disease control and early diagnosis.

AkoniMoipei:
OMFG! If this was my govt the president would be literally sh#tting his pants.

That was outdated figure tho.
That figure was before Nigeria rebased its economy.
Nigeria is still the largest economy

AkoniMoipei:
OMFG! If this was my govt the president would be literally sh#tting his pants.

That is the current reality. From first position in Africa to fourth position.

We can always blame the mismanagement

theenchanter:
why do I need to see what it is in Nigeria when it can't get me same value in Ghana, it's owner? Being high in exchange rate doesn't make it valuable in its primary nation.but u and I know I'll get more value for my 117k/122k naira in Nigeria far more than you get for your 1k cedis in Ghana, So who's the joker here? Nigerian producers can actually target ur market to earn ur fx but urs can't do the same, how's that a flex? Like una no know simple economics ni?
why do I need to earn in cedis just to spend in another country? Why can't Ghanaians get same value in Ghana? Let foreigner earn our cedis and enjoy like a king in their country with our fx rate but our compatriots shouldn't enjoy the same.

I like ur analogy.👍🏾it's an overall joke on ur country.

UK, Germany, USA and some other organized European country will not make you a millionaire in those country currency but it will make life easy for you and soft for your loved ones too.

The purpose is to escape poverty, give your family a good life. Anything outside it shouldn't concern you.


Now used the same analogy in this context.

vaxx:
UK, Germany, USA and some other organized European country will not make you a millionaire in those country currency but it will make life easy for you and soft for your loved ones too.

The purpose is to escape poverty, give your family a good life. Anything outside it shouldn't concern you.


Now used the same analogy in this context.

Why are you guys fond of comparing an African country like Ghana to UK, US. It’s not thesame scenario. The average pay and minimum wage in those countries means their purchasing power matches up with the high value of the currency. This is not the case with Ghana.

vaxx:
UK, Germany, USA and some other organized European country will not make you a millionaire in those country currency but it will make life easy for you and soft for your loved ones too.

The purpose is to escape poverty, give your family a good life. Anything outside it shouldn't concern you.


Now used the same analogy in this context.

I choosed not to reply Just30 cos he wasn't making sense with his submission, he contrasted developed nation's economy with a developing nation's economy.

But u see this ur own point, it's not even a point, it's nonsense.... I can't deal with it.

Banana Island. Lagos.

vaxx:
That is the current reality. From first position in Africa to fourth position.

We can always blame the mismanagement

And if it becomes the first again in few years, y'all will scream "FAKE". Never agreeing that many indexes make up the GDP. Y'all think GDP is mere figure.

We know the drill.

QuietMynd:
That was outdated figure tho.
That figure was before Nigeria rebased its economy.
Nigeria is still the largest economy

Which figure? I quoted the entire trend and highlighted two significant areas showing the GDP fell from a high of over 500B when you rebased on 2014 to a low of 188 this year, is that outdated? You might need to rebase again or tell your president to do his f#cking job!

vaxx:
That is the current reality. From first position in Africa to fourth position.

We can always blame the mismanagement

That is just abominable

AkoniMoipei:
Which figure? I quoted the entire trend and highlighted two significant areas showing the GDP fell from a high of over 500B when you rebased on 2014 to a low of 188 this year, is that outdated? You might need to rebase again or tell your president to do his f#cking job!

Does it make sense to you that GDP fell so suddenly only in 2023 and 2024? It’s simple exchange rate dynamics at play. When we rebase again or allow our inflation and purchasing power catch up completely with the devaluation in just a few months or years, the GDP gets back to circa 500 Billion dollars suddenly again, then you’ll come here saying the figure is fake.

GeneralDae:
Does it make sense to you that GDP fell so suddenly only in 2023 and 2024? It’s simple exchange rate dynamics at play. When we rebase again or allow our inflation and purchasing power catch up completely with the devaluation in just a few months or years, the GDP gets back to circa 500 Billion dollars suddenly again, then you’ll come here saying the figure is fake.

The fall is not sudden but gradual, starting immediately after you rebased. Nigeria's GDP is just about in its proper place right now at around 180B — The Kenyan GDP is almost catching up at 131B. In fact if Tinubu does not pull up his socks the catchup will be complete before the decade ends. Whichever the case, dont confuse exchange rate dynamics and rebasing, the latter is done to keep up with the evolution in prices. Your president's decision to let the local currency float freely has seen naira lose 70% of its formerly artificially high value, which is exactly what we are seeing because your GDP has dropped nearly 70% from the heydays of the 2014 rebase. Just a point of note, you could have a trillion dollar GDP and I would not say its fake, even though I know it is. I never said so when it was 576. GDP is a very artificial number that depends heavily on how you measure it — exchange rates, inflation adjustments, and rebasing can all drastically shift the figure without reflecting any real change in people’s daily lives.

GeneralDae:
Does it make sense to you that GDP fell so suddenly only in 2023 and 2024? It’s simple exchange rate dynamics at play. When we rebase again or allow our inflation and purchasing power catch up completely with the devaluation in just a few months or years, the GDP gets back to circa 500 Billion dollars suddenly again, then you’ll come here saying the figure is fake.

your gdp shouldn't drop this much because of devaluation

theenchanter:
I choosed not to reply Just30 cos he wasn't making sense with his submission, he contrasted developed nation's economy with a developing nation's economy.

But u see this ur own point, it's not even a point, it's nonsense.... I can't deal with it.

You simple can't reply to my comment because you'll require a strong economics background to give a sensible response without exposing yourself.

AkoniMoipei:
The fall is not sudden but gradual, starting immediately after you rebased. Nigeria's GDP is just about in its proper place right now at around 180B — The Kenyan GDP is almost catching up at 131B. In fact if Tinubu does not pull up his socks the catchup will be complete before the decade ends. Whichever the case, dont confuse exchange rate dynamics and rebasing, the latter is done to keep up with the evolution in prices. Your president's decision to let the local currency float freely has seen naira lose 70% of its formerly artificially high value, which is exactly what we are seeing because your GDP has dropped nearly 70% from the heydays of the 2014 rebase. Just a point of note, you could have a trillion dollar GDP and I would not say its fake, even though I know it is. I never said so when it was 576. GDP is a very artificial number that depends heavily on how you measure it — exchange rates, inflation adjustments, and rebasing can all drastically shift the figure without reflecting any real change in people’s daily lives.

The fall in 2023 was sudden. In 2015/2016 there was a recession due to change in Government (leading to capital flight for some reason) and low oil prices at $30. After the recovery, it picked up again until another recession in 2020 then picked up again in 2021 when the economy grew by 3.4%.
In 2023, there was no recession. We grew by circa 2.8% and in 2024 we grew by 3.4%.

So only 2023 and 2024 are strange in dollars gdp growth. These have nothing to do with 2014 rebasing but sudden devaluation in 2023/2024.

Unlike Argentina which had over 100% inflation to match their devaluation, our inflation only gradually increased, while our GDP PPP grew faster so the dollar lost its connection to the naira growth.

My point is that all that can change almost as quickly as well.

Analogy:

“Say a piece of land cost 400,000 naira when naira was 400 in 2022, that land would have been $1000 then as well.
In 2025, with naira at 1600, that Land should now be x4 which would be 1.6 million naira to make it remain at $1000.
But in Nigeria, you would probably find that the land has increased only x3 at most in several of these instances and for some x2 or x2.5.
So the land only increased to 1.1 or 1.2 million since 2022, when it should have increased to 1.6 million at once.
Hence, the dollar value of the land still decreases by that much even though the naira value has grown tremendously”.

Continuing from the analogy above, we can say it would only take a few quarters for prices to match up again with thesame consumption volume across board especially if the currency becomes stable like we saw in 2018 and 2019 in Nigeria after a rough 2016.

We already began to see huge consumption and profits in over 90% of Q1 2025 results across all sectors. That shows price increase is catching up (e.g telcos only increased their prices in February 2025 for the first time since 2013 despite all the inflation and devaluation) and it also shows consumption power is growing again from low levels of 2023 and 2024 due to slight wage adjustments across board especially by the private sector and some states.

Just40:
your gdp shouldn't drop this much because of devaluation

I think it makes sense to me now thinking about it. In late 2022 and early 2023 your inflation continued to climb fast even to over 54% at a point. Nigeria’s inflation climb was steady but slower. Also, with Argentina, their inflation climb to circa 200% was almost at thesame pace with the devaluation of the currency in 2024. This means their dollar gdp was still connected to their currency gdp. In Nigeria, prices in general do not move at thesame pace as the devaluation immediately but over time.

So for instance if a piece of land cost 400,000 naira when naira was 400 in 2022, that land would have been $1000 then as well. In 2025, with naira at 1600, that Land should now be x4 which would be 1.6 million naira to make it remain at $1000.

But in Nigeria, you would probably find that the land has increased only x3 at most in several of these instances and for some x2 or x2.5.
So the land only increased to 1.1 or 1.2 million since 2022 (when it should have increased to 1.6 million at once with same volume of purchases or consumption). So the dollar value of the land still decreases by that much even though the naira value has grown tremendously.

In that situation, it would only take a few quarters for prices and consumption volumes to match up again especially if the currency becomes stable like we saw in 2018 and 2019 in Nigeria after a rough 2016.

We already began to see huge consumption and profits in over 90% of Q1 2025 results across all sectors. That shows price increase is catching up (e.g telcos only increased their prices in February 2025 for the first time since 2013 despite all the inflation and devaluation) and it also shows consumption power is growing again from low levels of 2023 and 2024 due to slight wage adjustments across board especially by the private sector and some states.

Just40:
You simple can't reply to my comment because you'll require a strong economics background to give a sensible response without exposing yourself.

nobody needs strong economic background to tackle Ghana's economic outlook. It's a laughing stock amongst economist. Ask around.

I can't count the number of times I've been at economic gatherings where they made jest of Ghana's economy. Looks good on paper, shitty in reality.

So, rest.

vaxx:
the few bolded are the one worth my response, while the remaining are not for me , see your minister for finance if you have a brilliant idea.


The 50,000 cedis is now five cedis by redenomination. This has not in anyway affect Ghanaian negatively, rather it has boosted local economy.instill confidence and prestige on the local currency. Infact GDP per capital and purchasing power has increased.

Making the money accessible to average Ghanaian.

The second bolded. Stop imagining, put it in reflection of economic reality. A bottle of coke is around 3 euro ( average bottle) in Europe compare to about 300 yen in Japan . Same bottle . It does not mean Japanese are buying it more than what it is obtainable in Europe cus from Japanese purchasing power , you could see they are basically similar. Infact much more better in Japan .


Anyway regarding the inflation rate. Ghana is presently doing better than Nigeria. A fact you can googled.


Nigeria is not the only country that has removed subsidy on oil , similar thing with Ghana. Infact Ghana was doing it way back

This guy is a chronic liar who lives in an alternative world.
In mid 2022, a box of our product was going for 350 cedis..
Today, it's going for 1080 cedis.
Ghanaians are dying of inflation induced hunger.
Example, a cup of cooked rice at say champion dishes was going for 3 cedis in 2022.. that same cup of cooked rice is 12 cedis as at today.
In 2022, a bottle of 1.5 liter of coke was 10 cedis, today, it's 35 cedis..
Before in Ghana, with 5 cedis, you can eat cooked rice with boiled egg but today, that same boiled egg is going for 4 cedis and cooked rice starts from 10 cedis.
Mind you, daily minimum wage in this same Ghana is 19.97cedis..
So your daily minimum wage can only buy you breakfast.
It'll cost you averagely, 35 cedis to eat a plate of food meanwhile, daily minimum wage is 19.97 cedis.
Now times 19.97cedis by 30 and see what you'll get then we can factor in utilities, rent etc so you see how these people are suffering.
Me for example, I spend 500 cedis buying electricity every single month..
Now calculate 19.97 times 30 days and see if you won't get 555.10.. now factor in rent, feeding, utilities etc and see how Ghanaians are suffering but pretending

@GeneralDae, theenchanter and co you guys really have patience debating with someone who's economy defaulted on Eurobond payments, currently owe significant sums to IMF and currency is appreciating due to suspension of debt till next year.

chrisooblog:
@GeneralDae, theenchanter and co you guys really have patience debating with someone who's economy defaulted on Eurobond payments, currently owe significant sums to IMF and currency is appreciating due to suspension of debt till next year.

defaulting on payment isn't a biggy , Ghana is never gonna be the first nor the last. Argentina a better well stable country is even known to be a great defaulters. Check them today .


What happens is what are the practical obligations ahead that will put the economy on check. Ghana cedis is actually strengthen because there are more forex in the economy and the demand of dollar is been put into check .

chrisooblog:
@GeneralDae, theenchanter and co you guys really have patience debating with someone who's economy defaulted on Eurobond payments, currently owe significant sums to IMF and currency is appreciating due to suspension of debt till next year.

Ghana is earning more .


This is one of the key reasons for cedis stabilization .


it’s now mandatory that all gold transactions be conducted with the Ghana Cedis only

Below is the unprecedented revenues coming in as compared to the previous year

POKUASI2:
This guy is a chronic liar who lives in an alternative world.
In mid 2022, a box of our product was going for 350 cedis..
Today, it's going for 1080 cedis.
Ghanaians are dying of inflation induced hunger.
Example, a cup of cooked rice at say champion dishes was going for 3 cedis in 2022.. that same cup of cooked rice is 12 cedis as at today.
In 2022, a bottle of 1.5 liter of coke was 10 cedis, today, it's 35 cedis..
Before in Ghana, with 5 cedis, you can eat cooked rice with boiled egg but today, that same boiled egg is going for 4 cedis and cooked rice starts from 10 cedis.
Mind you, daily minimum wage in this same Ghana is 19.97cedis..
So your daily minimum wage can only buy you breakfast.
It'll cost you averagely, 35 cedis to eat a plate of food meanwhile, daily minimum wage is 19.97 cedis.
Now times 19.97cedis by 30 and see what you'll get then we can factor in utilities, rent etc so you see how these people are suffering.
Me for example, I spend 500 cedis buying electricity every single month..
Now calculate 19.97 times 30 days and see if you won't get 555.10.. now factor in rent, feeding, utilities etc and see how Ghanaians are suffering but pretending

you are blabbing. Inflation is well control in Ghana now than Nigeria


No time to rant . Check cement price for the first quarter despite having Dangote and compare it to the current price now

Ok.

vaxx:
Ghana is earning more .


This is one of the key reasons for cedis stabilization .


it’s now mandatory that all gold transactions be conducted with the Ghana Cedis only

Below is the unprecedented revenues coming in as compared to the previous year

theenchanter:
nobody needs strong economic background to tackle Ghana's economic outlook. It's a laughing stock amongst economist. Ask around.

I can't count the number of times I've been at economic gatherings where they made jest of Ghana's economy. Looks good on paper, shitty in reality.

So, rest.

I am sure they share the same type of brain with you .


Once I begin to ask for what is shitty now. It is either you instructed the bot to ban me or you begin ranting

chrisooblog:
Ok.

you don't need to quote back . Nigeria is also known to suspend payments, I am aware you don't know.

For your info, Nigeria is known to also delay payment ( coupon issues )Nigeria always have a filmsy excuse instead of being honest .



Anyway, Ghana suspend dept payment, Nigeria refinance ( borrowed to pay existing debt) who is better than who

Ok.

vaxx:
you don't need to quote back . Nigeria is also know to suspend payments, I am aware you don't know.

For your info, Nigeria is known to also delay payment ( coupon issues )Nigeria always have a filmsy excuse instead of being honest .



Anyway, Ghana suspend dept payment, Nigeria refinance ( borrowed to pay existing debt) who is better than who