₦airaland Forum

Hpesoj:
Using NGN1478.965197 average annual exchange rate, the US Dollar equivalent of the 2024 figure is about US$252.068 billion.

Where on earth did you see that exchange rate? Even on CBN website, Niara has not yet gone below 1500

helinues:
Are we spending dollars in Nigeria? Just for you people to appreciate the efforts of this government, but you just can't as you might have sworn to something not to see the progress of Nigeria

GDP is calculated in dollar even if you're spending shillings.
Dollar affect us on every sense! I bought monitor and I paid huge sum of money.
I bought tv I paid huge sum of money.
Everything being sold in Alaba international market is affected by dollar and all cars is affected by dollar so what are you saying?

Eriokanmi:
Wondering how much this amount is in dollars? That figure in naira would deceive you. Naira isn't as valuable as it used to be, to measure any economic infices anymore.

We're still the 4th largest economy in africa. We used to be first. Anything less than that is nothing to dance skelewu over. Nigeria isn't moving forward, except we just want to keep lying to ourselves I expected you to know better...or has your account been hacked?

Smh.You have moved on to another wailing apart from rebasing. Ignorance is not bliss o.

What you called 1st before was calculated with subsidized dollars FG was sharing before. Now, naira is floated and being priced correctly. Wait till those other countries float their currency too. The only place Nigeria can go is up.

FreeStuffsNG:
Smh.You have moved on to another wailing apart from rebasing. Ignorance is not bliss o.

What you called 1st before was calculated with subsidized dollars FG was sharing before. Now, dollars is floated and being priced correctly. Wait till those other countries float their currency too. The only place Nigeria can go is up.

seunmsg:
This is long overdue. We’ve been expecting this since the beginning of the year.

So lies has been told over the weeks that we'll maintain top position when the GDP is being rebased but we're still 4rth after the rebase when you convert this thing to dollar.
I don't see what calls for celebration here. It shows this government strategy has not yielded good results aside statistics

FreeStuffsNG:
Smh.You have moved on to another wailing apart from rebasing. Ignorance is not bliss o.

What you called 1st before was calculated with subsidized dollars FG was sharing before. Now, dollars is floated and being priced correctly. Wait till those other countries float their currency too. The only place Nigeria can go is up.

Smh! Subsidised dollar contributing to our past 1st GDP position? Which school did you attend ? Do you even know what you're saying at all? Are you saying countries like south africa, Egypt and Algeria should be ahead of us on the current ratings list? I don't think I need to argue further. This is shocking to say the least

Seriously? $243 billion?

Celebration of failure!!! Even after fake rebasing just $243 billion

FreeStuffsNG:
This is a gargantuan leap! President Bola Ahmed Tinubu is the best!
May God continue to bless Nigeria for ever!

FreeIgboho:
You are right. It is $244b
See it below 244,000.000.000

It’s common sense bro… that wasn’t the real value during Buhari time when Naira was being defended. Had Buhari done the right thing and floated the Naira we would have been in a much better place.

With all this money we still dey own debt...audio GDP

FreeStuffsNG:
This is a gargantuan leap! President Bola Ahmed Tinubu is the best!
May God continue to bless Nigeria for ever!

It’s a great leap backward in reality since the people are not feeling it.

anonimi:
May 1, 2025

May Day: Hunger, unemployment, insecurity real— Tinubu

According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”

On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.

Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.

https://www.vanguardngr.com/2025/05/may-day-hunger-unemployment-insecurity-real-tinubu/

Kestolove:
With all this money we still dey own debt...audio GDP

Na so o.
Too much propaganda. Too many lies from extreme poverty APC looters.

ManirBK:
Aug 28, 2023
The Federal Government says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving the business environment for local and foreign investment.

Edun said that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.

He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself over time.

https://www.vanguardngr.com/2023/08/fg-ends-borrowing-finance-minister/amp/

Afrobasic:
Damn, is it that low now? Crazy to think that Nigeria once had a GDP of half a trillion dollars ($500 billion), before the incompetent Buhari and his counterpart came in and ruined everything.

Shithole.

The fulanis where planted in Nigerian power circles by the UK to do exactly what they are doing now.......kill,pillage and destroy! What Great Britain cannot destroy does not exist! Useless and demonic place!

helinues:
Are we spending dollars in Nigeria? Just for you people to appreciate the efforts of this government, but you just can't as you might have sworn to something not to see the progress of Nigeria

but almost everything you use including the phone you used to types this post was imported with dollars.

helinues:
Let me first respond to your first concern. There is no bias with the anti spam bot. It's irrespective of members including myself...

Speaking about transformation, under this government, we have cleared our IMF debt. FCT minister, Aviation minister, Minster if interior, minister of work, we can all see what those sectors ha w been doing under this government.

The education sector, I don't know why there is poor updates about their programs. Apart from NELFUND student loans, did you know that technical/vocational education in Nigeria is now 100% free?

so what has the minister of works been doing (Please don't tell us about the coastal road which is a white elephant project), because most federal roads especially down south are still in a state of mess. As for fct minister, land grabbing is not an achievement.

When you don't like the answer, you change the question.
Oluwale calculation.

ernieboy:
so what has the minister of works been doing(Please don't tell us about the coastal road which is a white elephant project), because most federal rods especially down south are still in a state of mess. As for fct minister, land grabbing is not an achievement.

Take coastal road out of this. Go and check reasonable number of the federal roads

Will the price of garri and sugar reduce?

helinues:
Are we spending dollars in Nigeria? Just for you people to appreciate the efforts of this government, but you just can't as you might have sworn to something not to see the progress of Nigeria

I have always thought you are not so lettered and perhaps under 20 with most of your comments that I see here and this comment has further confirmed that bias. There's no country in the world where GDP and per capital income is measured in the local currency, infact the very essence of gdp is to measure comparative productivity between countries so you cannot do that with local currency unless with the international currency which is USD since local currencies are subjective .
The other day when Peter Obi came out to say Nigeria loan is over NGN170Trn, your lots alongside Reno Omokri went to town to scream that the loans should be calculated in USD since the currency is floated to show the government is working even though over 60% of the loans are domestic debts and bonds which are not sourced for in foreign currencies. Now that USD is not in your favour you want us to calculate GDP in Naira to further delude unlettered people like yourself.
APC supporters always amaze me sha, cherry picking just to prove a stupid point that is so glaring that even a blind man can see in this economy.

helinues:
Very good.

We believe in the leadership of president Tinubu as Nigeria president

was it the same way you believed in the "leadership" of Buhari for 8years?

is tinubu right about this?

helinues:
Let me first respond to your first concern. There is no bias with the anti spam bot. It's irrespective of members including myself...

Speaking about transformation, under this government, we have cleared our IMF debt. FCT minister, Aviation minister, Minster of interior, minister of work, we can all see what those sectors have been doing under this government.

The education sector, I don't know why there is poor updates about their programs. Apart from NELFUND student loans, did you know that technical/vocational education in Nigeria is now 100% free?

My friend, I sincerely hope you're being patriotic here and not serving a political agenda.
But let's be real here, don't tell me that we're better off today than we were pre - 2015
You're quick to brandish the IMF load that's cleared, without mentioning the internal and external debts that are pilling up in their trillions annually.
What impact has all that made in the life of common Nigerian citizens, from prices in market to availability of basic amenities?
APC advertised themselves as progressives but they are in fact retrogressives!
Let's not whitewash the situation with white elephant projects here and there,no real progress here.
The day we stop deceiving ourselves in this country is the day we start recovering.

helinues:
Are we spending dollars in Nigeria? Just for you people to appreciate the efforts of this government, but you just can't as you might have sworn to something not to see the progress of Nigeria

Oga pls keep quiet if you really don't have anything to say. Your economy is a completely consumption economy. What do you produce. The naira will always be compared to dollar because everything we buy depends on the dollar Cox we import virtually everything

helinues:
Are we spending dollars in Nigeria? Just for you people to appreciate the efforts of this government, but you just can't as you might have sworn to something not to see the progress of Nigeria

When you are done deceiving yourself, celebrating the backwardness of APC. Just know one thing
Nigerian GDP increasing in naira means prices of goods and services are increasing in naira while decreasing, more Nigerian thrown into poverty.

helinues:
Let me first respond to your first concern. There is no bias with the anti spam bot. It's irrespective of members including myself...

Speaking about transformation, under this government, we have cleared our IMF debt. FCT minister, Aviation minister, Minster of interior, minister of work, we can all see what those sectors have been doing under this government.

The education sector, I don't know why there is poor updates about their programs. Apart from NELFUND student loans, did you know that technical/vocational education in Nigeria is now 100% free?

Increased school fees and introduce student loan. What a strategy

They should rather convert this figure to dollars, let's know how much. They want to use the size of the amount in Naira to make people feel it is huge.

What is the GDP per capital, that's the koko. Or better still they remove part of the value to pay our over 77 trillion naira debt, let's know what would remain in naira.

dalongjnr:
Can that change the fact that the economy is bad?
You need a crash course in PR.
In the context of rebasing that they are doing, it's like pumping a licky 45psi capacity tyre to 60psi with the intent that it will give it better time before it runs flat 😀.
There's no regime that didn't rebased the economy from 1999-date and nothing changed.
It can just give a cosmetic 💄 outlook of the economy but the reality still persists.

One of the worst things about constantly feeding on bad news and misinformation is that it blinds you to the real opportunities around you. While you sit here parroting Peter Obi’s propaganda and painting the economy as doomed, the facts say otherwise—and the world is watching.

In just two years, the economy has shown clear signs of recovery. Debt backlogs have been slashed. Inflation has dropped from 34% to 22%. The stock market is breaking records not seen since 1999. International institutions like the World Bank, IMF, The Economist, and Bloomberg have all acknowledged the progress.

Governors are getting more federal allocations to develop their states. Foreign investors are cashing in on the stock market boom. Even smart Nigerians are taking advantage of the reforms to position themselves for serious wealth, and many more.

But here you are—stuck on social media, amplifying failure narratives while others are building futures. Keep whining. The train has moved.

To understand what rebase is, I have helped you with some screenshots.

Ofemannnu:
Good.
Some people thought they will just add numbers and Nigeria will become the first economy in Africa.No,it doesn't work like that.There are global methodologies and these are what are being used.
The economy is now growing organically and by the end of 2026,Nigeria will be the biggest and largest economy in Africa.

Your prediction on 2026 is based on what

COMPAQ:
Like it or not, prostitution, hookup, runs, FWB or whatever name its called is a huge contributor to the economy. I hear the busiest Uber route is on friday evenings between yabatech/unilag axis and the island. You go just dey see hundreds of that popular toyota corolla with pretty girls in the back heading out of that axis. Just imagine if 1000babes are collecting N50k on average every Friday, not to talk of other days of the week. That tells you how much money moves around in that business nationwide, although lagos is certainly the biggest by far.

You for add ritualist and kidnapping. Nigeria no even do sex tourism pass gambia or thailand. But those coubtries do not add this in their GDP. Stop supporting rubbish!

tollyboy5:
So lies has been told over the weeks that we'll maintain top position when the GDP is being rebased but we're still 4rth after the rebase when you convert this thing to dollar.
I don't see what calls for celebration here. It shows this government strategy has not yielded good results aside statistics

The initial plan was to cook figures until they got warnings from WB
That's why they delayed the unveiling

oz4real83:
They are afraid to convert it to dollars, Nigeria once had a gdp of $500b before Buhari and his gang came in . Everything quoted above is less than $250b

APC has b een a complete failure. Buhari and Tinubu destroyed Nigeria

APC and Tinubu are shameless 😀😀😀

FreeStuffsNG:
This is a gargantuan leap! President Bola Ahmed Tinubu is the best!
May God continue to bless Nigeria for ever!

Despite using fake stats the rebase is still not up to to the 380bn dollar economy Tinubu inherited for Buhari two years ago...y'all should have some shame , fake employment stats , fake GDP

Na statistics we go chop but we use statistics to lie and make the economy look bigger than it is

We lie with statistics to make unemployment rate lower than it is

If you like, make them whine your nipple with statistics