₦airaland Forum

Racoon:
Nigerian is never to be of reckoning when it comes to good human, economic, and global indices of development but of course in anything negative under Tinubu's govt

You can relocate to any of the mentioned countries above now. Sinedu what’s stopping you?

This list is for small economies!
Fact!
India is the only big economy on that list.

pundit92:
Hmmmm,South Sudan and Libya. Two war torn countries, how them dey do am? God help us in this country.

It shows nigerians collectively have a very low IQ.

pundit92:
Hmmmm,South Sudan and Libya. Two war torn countries, how them dey do am? God help us in this country.

1.Libya produces some 1.8 million bpd of oil for about 7 million people, which means it yields enough revenue per capita to have a relatively high GDP. This was something that was observed by the Emir of Kano as far back as 2012.

2. South Sudan has settled down a bit after a long period of war, so oil production is improving...which accounts for the growth in GDP. It doesnt mean the country is doing well generally.

Racoon:
Nigerian is never to be of reckoning when it comes to good human, economic, and global indices of development but of course in anything negative under Tinubu's govt

is Nigeria your country

Na you post, na the same you first comment.

Tinubu till 2031

Mrexcell:
It shows nigerians collectively have a very low IQ.

LOL...you don't have to be so harsh.

But the honest truth is that if Nigerians had used their resources to make stuff the world needs, we would have had high levels of GDP growth, and you won't need to make the above comment, because we have now shown high IQ.

Decent and strong countries use their resources to make useful products for the world. Weak countries just sell their resources at giveaway price, share the money, and use it to import and import and import...sometimes importing stuff made from the SAME resources they sold...at higher value.

LOL..and APC Has continued that since 2015.



And saying the above means I am an APC supporter. LOL. APC supporters believe in sharing money, I don't. But I am an APC supporter for telling the cold truth.

Flangelo12:
You guys should please get educated.

Educated on what exactly?

mfm04622:
We will do abut 4% this year! Which is not bad when you consider we are coming from about 2% average in the past.

The lowest in the list is 6%. This is why we won't be there. How many European countries do you see there?

What past?
Under Jonathan, we were averaging 7%.

India is the fourth largest economy in the world, and is still growing as high as 6%.

mascot87:
I knew a clown will definitely find a way of insulting the country. Most of the developed world you worship and have become a slave to aren't on the list but you ignored it and insult the country as usual and typical of you people. One thing I am sure of is that no matter the insult and demarketing you people give to this nation, the people that will prosper and excel in it will definitely do so.
I am sure even if Nigeria is on that list, you would have also complain and nag about the position it would be. And even if Nigeria were to be on number 2 position,you would have insulted the country on how S.Suden is leading Nigeria. And if Nigeria were to be on the number one position, you would have called the list FAKE. So in all, you people are just terrible and I no really rate una.

And Mr. Man, you can move to S.Sudan. You aren't obliged to remain in Nigeria since the past, present and future condition of the country is making you unsuccessful in your endeavours.

God bless you, you know this people very well.
I don't how some people hate their father's house so much they are ready to set it on fire, because they lost election.

Tinubu supporters claim that they voted for tinubu because he built lagos and brought foreign investment and IGR growth.

Those investments happened under the PDP.
They were the fruits of the macroeconomic brilliance of Ngozi Iweala and a few egg heads in the PDP.
Those investments came into Nigeria courtesy of the PDP-led federal Policies.
The investors chose lagos after the FG have done the work, but tinubu claimed the glory as the so-called Jagaban of Lagos.

Now, tinubu is in the FG, but he can't attract those same investments and GDP growth that PDP did.

mascot87:
I knew a clown will definitely find a way of insulting the country. Most of the developed world you worship and have become a slave to aren't on the list but you ignored it and insult the country as usual and typical of you people. One thing I am sure of is that no matter the insult and demarketing you people give to this nation, the people that will prosper and excel in it will definitely do so.
I am sure even if Nigeria is on that list, you would have also complain and nag about the position it would be. And even if Nigeria were to be on number 2 position,you would have insulted the country on how S.Suden is leading Nigeria. And if Nigeria were to be on the number one position, you would have called the list FAKE. So in all, you people are just terrible and I no really rate una.

And Mr. Man, you can move to S.Sudan. You aren't obliged to remain in Nigeria since the past, present and future condition of the country is making you unsuccessful in your endeavours.

The first world countries are already developed. They have very little room for growth.
None of them should be growing at above 3%.

Is Nigeria a first world country? Is it not third world?

Are you better than India or Ireland?
With our population, and the chronic under-development, we should be growing at atleast 6-7%.

People like you are a disservice to this country.

apesinola001:
GOD will help NIGERIA
GOD BLESS NIGERIA

Someone who says God Bless Nigeria and also supports bad government Because of tribalism has used his way of life to cancel his prayer.

Such a prayer cannot work!

Tinubu supporters are ready to place Nigeria on the lowest possible scale, if it makes tinubu shine brighter.

Hopeless unpatriotic animals.

CSTRR:
What past?
Under Jonathan, we were averaging 7%.

India is the fourth largest economy in the world, and is still growing as high as 6%.

Under GEJ we also had high oil prices between 100-130 dollars per barrel from 2011-14. That's what buffered the gdp.

We could have done better if GEJ and his predecessors had diversified the economy away from oil and into (based on what Obi said when he was running for 2023 election)..productivity, and other sectors. That he did not do that is why we were left exposed in 2015, when oil prices had crashed to 75 dollars per barrel.

I no dey support APC. APC had a chance to diversify away from oil, but both buhari and tinubu have chosen the usual sharing money things..and the sane economic decisions they have taken like removing suhsidy and trying to reform tax is because the money flow from oyel is bad and IMF doesn't want to borrow us money no more.

nairalanda1:
Under GEJ we also had high oil prices between 100-130 dollars per barrel from 2011-14. That's what buffered the gdp.

We could have done better if GEJ and his predecessors had diversified the economy away from oil and into (based on what Obi said when he was running for 2023 election)..productivity, and other sectors. That he did not do that is why we were left exposed in 2015, when oil prices had crashed to 75 dollars per barrel.

I no dey support APC. APC had a chance to diversify away from oil, but both buhari and tinubu have chosen the usual sharing money things..and the sane economic decisions they have taken like removing suhsidy and trying to reform tax is because the money flow from oyel is bad and IMF doesn't want to borrow us money no more.

\We had high oil prices during buhari era courtesy of the Russia-Ukraine war.

What did apc and buhari do with it?
What was our GDP growth under buhari?

CSTRR:
What past?
Under Jonathan, we were averaging 7%.

India is the fourth largest economy in the world, and is still growing as high as 6%.

Mention the specific years under GEJ we reached 7% GDP growth! We never did!
Also, you can't ignore the effect of rebasing of the GDP on the high growth when we were above 5%
We were heading to recession at tail end of GEJ's govt. Not due to his fault, but due to the fact we were too dependent on crude oil to finance our budget.

Nigerian is never to be of reckoning when it comes to good human, economic, and global indices of development but of course in anything negative under Tinubu's govt

Never believe this stats, it's all a farce by the western mainstream media to make white black, I have someone in South Sudan who lives and works there, the country is in a sorry, pathetic state.
Nigeria has made significant progress under BAT, regardless of how much they try to undermine it, even Ghana improved significantly well, bouncing back from inadvertent recession to a prosperous nation.
And yet they want us to believe this, they will forever hype those countries where they are able to exploit fully to their advantage without any opposition.
Nigeria will be great again.

nairalanda1:
Under GEJ we also had high oil prices between 100-130 dollars per barrel from 2011-14. That's what buffered the gdp.

We could have done better if GEJ and his predecessors had diversified the economy away from oil and into (based on what Obi said when he was running for 2023 election)..productivity, and other sectors. That he did not do that is why we were left exposed in 2015, when oil prices had crashed to 75 dollars per barrel.

I no dey support APC. APC had a chance to diversify away from oil, but both buhari and tinubu have chosen the usual sharing money things..and the sane economic decisions they have taken like removing suhsidy and trying to reform tax is because the money flow from oyel is bad and IMF doesn't want to borrow us money no more.

So, you didn't see Buhari's efforts to diversify away from oil? Closing thr border? Banning the imports of some items? This is very recent history ooo!

CSTRR:
\We had high oil prices during buhari era courtesy of the Russia-Ukraine war.

N.B In answering your question above, I am going to reiterate that I am not defending APC, or any party, or Buhari

Before oil prices rose briefly in 2021-22, we had had sustained low oil prices , even as low as 20 dollars per barrel in 2016, and again in 2020-21 during the covid pandemic. We were also still doing things like paying for subsides on petrol and electricity(No band A then) and paying off debts (some of which were taken by the GEJ and Yaradua administration)...and still taking new debts because oil prices were constantly low.

And because buhari did not end our reliance on oil, the other sectors of the economy got stifled, meaning our money making ability was weakened drastically since 2015.

As put in this quote from this article in 2004...

For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty

Thats why the new oil windfall caused by Ukraine russia did not even better our lot at all. We had had low oil prices from 2015-2022, between 20-80 dollars per barrel (we need oil to be above 130 dollars per barrel to have a budget that makes sense...which is why GEJ borrowed..oil was high, NOT THAT HIGH). So, in order to survive, we had to take loans and more loans, and even then we still had the loans incurred from 2007-15( 2006 is when we got all our loans forgiven, and we paid the balance)..to pay off.

Then our years of relying on oil, and APC's refusal to fix the problem when they came into power, weakened our alternative sources of money (It's why GDP has been worse than it was in 2014 ...simple and short).

So, TLDR...APC 's failure to diversify away from oil AND their failure to improve cash flow from alternate sources, is why we never benefited from the oil windfall of 2022.

(Same thing happened in 1990/1...we had an oil price crash in 1982, then we had low oil prices, then even though we had high oil prices because of the gulf oil windfall, all the debt we took on from 1982-90 was waiting for us...lol)

nailcapuzzi89:
Never believe this stats, it's all a farce by the western mainstream media to make white black, I have someone in South Sudan who lives and works there, the country is in a sorry, pathetic state.
Nigeria has made significant progress under BAT, regardless of how much they try to undermine it, even Ghana improved significantly well, bouncing back from inadvertent recession to a prosperous nation.
And yet they want us to believe this, they will forever hype those countries where they are able to exploit fully to their advantage without any opposition.
Nigeria will be great again.

Smaller economies tend to grow faster when things align for them. Check the list, it is full of smaller economies. India is the only big economy on the list. This is not about the size of the economy nor how developed the economies are.

Absolutely Nigerians have a very low IQ in reference to their leaders and with what they have done to them but they are still supporting them….come to Europe,United states and Canada to hear what they call Nigerians…animals in the zoo been ruled by the lucky minority like in the ‘Animal farm’…..Nigeria is exactly what happened in the book ‘Animal farm ‘ by George Orwell and i’m sure all these laptop gullible boys were not not born yet to read the book

mfm04622:
So, you didn't see Buhari's efforts to diversify away from oil? Closing thr border? Banning the imports of some items? This is very recent history ooo!

He obviously failed because by 2023, oil was still accounting for 80% of our revenue.

As regards rice, I just laughed when he was banning imports. Like rice...the reason why it did not work was because rice production in Nigeria cannot meet up to one third of national need.

Also, he was still forcing price controls on the power sector, and not paying subsides to cover the resulting loss. Of course the power sector was too broke to power our industries which could have helped with diversification.

Ditto for oil subsides, we wasted billions of dollars, and got into even more debt, maintaing a subsidy that was already moribound by 2013. And as a result, we have no effective private refining apart from Dangote today.

And the tax to gdp was still awful.

mascot87:
I knew a clown will definitely find a way of insulting the country. Most of the developed world you worship and have become a slave to aren't on the list but you ignored it and insult the country as usual and typical of you people. One thing I am sure of is that no matter the insult and demarketing you people give to this nation, the people that will prosper and excel in it will definitely do so.
I am sure even if Nigeria is on that list, you would have also complain and nag about the position it would be. And even if Nigeria were to be on number 2 position,you would have insulted the country on how S.Suden is leading Nigeria. And if Nigeria were to be on the number one position, you would have called the list FAKE. So in all, you people are just terrible and I no really rate una.

And Mr. Man, you can move to S.Sudan. You aren't obliged to remain in Nigeria since the past, present and future condition of the country is making you unsuccessful in your endeavours.

Oga where is the result of the reforms starving Nigerians? Una talk too much.

nairalanda1:
He obviously failed because by 2023, oil was still accounting for 80% of our revenue.

As regards rice, I just laughed when he was banning imports. Like rice...the reason why it did not work was because rice production in Nigeria cannot meet up to one third of national need.

Also, he was still forcing price controls on the power sector, and not paying subsides to cover the resulting loss. Of course the power sector was too broke to power our industries which could have helped with diversification.

Ditto for oil subsides, we wasted billions of dollars, and got into even more debt, maintaing a subsidy that was already moribound by 2013. And as a result, we have no effective private refining apart from Dangote today.

And the tax to gdp was still awful.

You are mixing things up!
We are not dependent on sar of crude to finance our budget. Tax now contributes more to our budget than crude oil sale.
Where we are dependent on crude is the provision of foreign currency! Bud difference. Even that is more manageable now

Nijaforward:
Absolutely Nigerians have a very low IQ in reference to their leaders and with what they have done to them but they are still supporting them….come to Europe,United states and Canada to hear what they call Nigerians…animals in the zoo been ruled by the lucky minority like in the ‘Animal farm’…..Nigeria is exactly what happened in the book ‘Animal farm ‘ by George Orwell and i’m sure all these laptop gullible boys were not not born yet to read the book

Where in these countries are people regarded as such?

You mean among rednecks?

mfm04622:
You are mixing things up!
We are not dependent on sar of crude to finance our budget. Tax now contributes more to our budget than crude oil sale.
Where we are dependent on crude is the provision of foreign currency! Bud difference. Even that is more manageable now

Well, oil forms 40-50% of spending, and borrowing forms 30-40% of spending, largely due to the deficit induced by low oil prices. Tax is still very low...about 13% of our gdp is taxed which is below even our neighbours like Niger and Ghana.

We are still weak and oil dependent.

Racoon:
Nigerian is never to be of reckoning when it comes to good human, economic, and global indices of development but of course in anything negative under Tinubu's govt

If you see Nigeria there, you will still wail

Hahahhaah

omoadeleye:
Where is Nigeria for God sake

mascot87:
I knew a clown will definitely find a way of insulting the country. Most of the developed world you worship and have become a slave to aren't on the list but you ignored it and insult the country as usual and typical of you people. One thing I am sure of is that no matter the insult and demarketing you people give to this nation, the people that will prosper and excel in it will definitely do so.
I am sure even if Nigeria is on that list, you would have also complain and nag about the position it would be. And even if Nigeria were to be on number 2 position,you would have insulted the country on how S.Suden is leading Nigeria. And if Nigeria were to be on the number one position, you would have called the list FAKE. So in all, you people are just terrible and I no really rate una.

And Mr. Man, you can move to S.Sudan. You aren't obliged to remain in Nigeria since the past, present and future condition of the country is making you unsuccessful in your endeavours.

Who is this full.. are we not meant to access our country's performance.. ohhh we should leave it and judge USA because they too are not on the list.

And tell some people Libya been govern by militia right now is far more better than Nigeria...💯💯..infact if not for school for my kids and also some personal reasons I will even prefer to bring my family here then get a sure crossing link to Europe💯.imagine food, light every necessity of life so cheap here..
Tinubu really messed Nigeria up with propaganda and poor performance

Racoon:
https://www.voronoiapp.com/economy/The-Fastest-Growing-Economies-in-2025--7288

mfm04622:
Mention the specific years under GEJ we reached 7% GDP growth! We never did!
Also, you can't ignore the effect of rebasing of the GDP on the high growth when we were above 5%
We were heading to recession at tail end of GEJ's govt. Not due to his fault, but due to the fact we were too dependent on crude oil to finance our budget.

Look at this Image below. That was as recent as 2015.

Countries enter recession all the time and come out of recession as well.
Especially with the high subsidy regime that Nigeria had then, which tinubu defended through protests.

It doesn't take away the fact that Nigeria had much better administrators then.