₦airaland Forum

Ojuntana:
Are you really serious now?
What is the demand for nuclear materials in Africa compared to the UK to start with?

What is the demand for kolanuts in the UK? Aso oke and etc? Many countries in Africa have nuclear power plants and I would not know how much uranium they use per annum. In actual consumption of units of goods and services, the UK economy is not bigger than Nigeria's. It is only big because of how much they pay for services which on average is more than twenty times what we pay in Nigeria. The UK economy is more than seventy five percent services

lawani:
What is the demand for kolanuts in the UK? Aso oke and etc? Many countries in Africa have nuclear power plants and I would not know how much uranium they use per annum. In actual consumption of units of goods and services, the UK economy is not bigger than Nigeria's. It is only big because of how much they pay for services which on average is more than twenty times what we pay in Nigeria. The UK economy is more than seventy five percent services

Really? What is the price per kg in Nigeria compared to the price in UK?
You are comparing kolanuts with nuclear materials? Do you know the cost of handling nuclear materials alone not to mention the cost of production and operation? How many countries in Africa have nuclear power plants? South Africa is the only country in Africa currently running a nuclear power plant FYI and even that plant is being run by the Russians
In terms of consumption, UK is far bigger than Nigeria. That's why you have UK used phones coming into the Nigerian market. Come and show me Nigerian used phones in UK market
Simple question. If you have kolanuts for sale and you have access to UK and Nigerian market, which market will you send your goods to?

Ojuntana:
Really? What is the price per kg in Nigeria compared to the price in UK?
You are comparing kolanuts with nuclear materials? Do you know the cost of handling nuclear materials alone not to mention the cost of production and operation? How many countries in Africa have nuclear power plants? South Africa is the only country in Africa currently running a nuclear power plant FYI and even that plant is being run by the Russians
In terms of consumption, UK is far bigger than Nigeria. That's why you have UK used phones coming into the Nigerian market. Come and show me Nigerian used phones in UK market
Simple question. If you have goods for sale and you have access to UK and Nigerian market, which market will you send your goods to?

What are you even debating? Is it possible for the consumption of 65 million British to be more than over one billion Africans? Impossible. Can the UK buy its own used phones? It means Nigeria has many things it buys more than the UK. So if you have access to UK markets you still have to bring UK used phones to Nigeria and many other products are like that. Nigerians can't afford expensive things but they have a huge market for many things including many things produced in the UK eg wines, pharmaceuticals etc.
Bottom line is UK economy is like eighty percent services and the value of those services in the average African nation is less than ten percent of what it is in the UK.

There are countries in North Africa with nuclear plants and some in west Africa are planning it

lawani:
What are you even debating? Is it possible for the consumption of 65 million British to be more than over one billion Africans? Impossible. Can the UK buy its own used phones? It means Nigeria has many things it buys more than the UK. So if you have access to UK markets you still have to bring UK used phones to Nigeria and many other products are like that. Nigerians can't afford expensive things but they have a huge market for many things including many things produced in the UK eg wines, pharmaceuticals etc.
Bottom line is UK economy is like eighty percent services and the value of those services in the average African nation is less than ten percent of what it is in the UK.

There are countries in North Africa with nuclear plants and some in west Africa are planning it

Mention the north African countries with working nuclear plants apart from South Africa. Does planning add to GDP now?
Can you then explain how Japan, with half of Nigeria's population that is even declining has over 10 times Nigeria's GDP. You already said yourself that most Nigerians can't afford expensive things yet you're still ridiculously insisting Nigeria's GDP should be higher than that of UK and Japan were even average families can afford some luxuries
GDP is about VALUE not just services and products. If I produce spaceships for example, I don't have any business bringing it to Africa. Are you even aware that most Cloud infrastructure do not have physical bases here in Africa? You're comparing stuffs like kolanut and onions to high tech, high value products like nuclear products. You're just clowning I believe.
The fact is that even a haircut in Nigeria is far cheaper compared to UK which makes the VALUE that goes into getting a haircut in UK higher than in Nigeria. It is basic stuff that anyone should understand

seunmsg:
In terms of actual productivity, our economy did not go down. In fact, our economy experienced real growth as seen in our GDP IN naira. The reduction in our USD GDP is simply as a result of devaluation of our currency. Under Buhari, they calculated the GDP using an official exchange rate of $1=N460. Tinubu floated the exchange rate and we moved to $1=N1450 as official exchange rate. So, the exchange rate differentials accounted for the reduction in the USD GDP while in reality, our Naira GDP has increased tremendously and that's the actual test of our productivity.

Correct guy! It is why GDP PPP is appropriate in this case to adjust for exchange rate vagaries...but mrvitalis will never understand!

Buccalcavity2:
Correct guy! It is why GDP PPP is appropriate in this case to adjust for exchange rate vagaries...but mrvitalis will never understand!

These are people who know the meaning of GDP

Buccalcavity2:
Correct guy! It is why GDP PPP is appropriate in this case to adjust for exchange rate vagaries...but mrvitalis will never understand!

Lmao if only you dont import and isolate yourself from the rest of the world

As long as you import the PPP is useless

You guys are not smart enough to understand even when you can see the results before your eyes

Nigerians on average earn far more now than in 2015 but can buy far less with more

How u guys don't get this is beyond me

mrvitalis:
Lmaooo once you See APC paid write up you just know

Nigeria GDP is not bigger than South Africa GDP we are 40% or more short off

Real GDP contribution is largely driven by population and not productivity

You know the painful part? APC guys know this but would still push the wrong narrative

Same when they started measuring GDP in PPP lol

Firstly, the article did not focus Nigerias gdp vs SAs. Real gdp contribution was discussed with occasional allusion to growth rates.
Secondly, real gdp is not driven by productivity but population? It is better you stuck to your ethnic/ipob subjects rather than this bogus claim. Real gdp is the adjustment of nominal gdp for inflation, hence a measurement of productivity, backing out price increases effect.
Lastly, economists are not only obssesed with nominal gdp like you coz they know there are factors that can skew the usd gdp calc, hence, real gdp, gdp ppp and gdp per capita are also used. Why do you think US is bothered by China? Answer is in gdp ppp, amongst others.

lawani:
These are people who know the meaning of GDP

You are very correct brother! It doesnt make any sense that the GDP of a country fell by 50% in 1yr. We definitely have to adjust for exchange rate!

Buccalcavity2:
Firstly, the article did not focus Nigerias gdp vs SAs. Real gdp contribution was discussed with occasional allusion to growth rates.
Secondly, real gdp is not driven by productivity but population? It is better you stuck to your ethnic/ipob subjects rather than this bogus claim. Real gdp is the adjustment of nominal gdp for inflation, hence a measurement of productivity, backing out price increases effect.
Lastly, economists are not only obssesed with nominal gdp like you coz they know there are factors that can skew the usd gdp calc, hence, real gdp, gdp ppp and gdp per capita are also used. Why do you think US is bothered by China? Answer is in gdp ppp, amongst others.

Nvm

mrvitalis:
Lmao if only you dont import and isolate yourself from the rest of the world

As long as you import the PPP is useless

You guys are not smart enough to understand even when you can see the results before your eyes

Nigerians on average earn far more now than in 2015 but can buy far less with more

How u guys don't get this is beyond me

You're correct overall. But he is right on one thing, although he loses the plot as he starts to confuse concepts.

See it this way. He is right on the PPP aspect because it is almost unfair, so to speak, to assume that Nigeria lost that much output volume in a short time. Exchange rate changes essentially cut our GDP figure.

So to say that Nigeria is most likely still the largest or at least a close second in GDP, Africa-wise, is likely true.

However, they are referencing GDP PPP as a measure of real GDP. That is not true. GDP PPP is in local prices, which though domestic -focused and immune in a sense from immediate forex market impact (though not entirely true as Nigeria is heavily import-dependent and does feed in forex rates into its basic prices in a follow-up manner)--> you pointed this out .

While real GDP is a measure that considers only output change while 'chaining' prices to a base year (usually within the last five years at the time of measurement).

Looking into it, one would see that GDP PPP factors in domestic inflation. And for Nigeria, that's a massive issue. It's essentially on average, 12 to 16% over the past ten years (way above regular 2-5% levels).

I'll do the calculation for you quickly: using the cpi (price index on a common basket of goods) and 2020 (300 cpi) as a base year for both 2015(to check your claim) and 2024 (for the APC/tinubu guys). It is essentially 300/170 * 1.09 trillion USD PPP for 2015 to give 1.92 trillion USD 'real' GDP on PPP terms.

While for 2024 it would be 300/867 * 1.49 trillion USD GDP PPP to give 515 billion USD 'real' GDP on PPP terms. So yes you're correct .

In 2025 the cpi index was rebased and the new starting figure is below 200 I believe. This is a year 0 measure and cannot be used for any calculations of the past. Rather it will serve as a base for future years. So please always be on the look out for this.

Using their argument against them you are right concerning 'real' GDP on PPP terms.

That is why your gut feeling tells you otherwise. You know that life isn't better. And you're technically right. Though you're not supposed to rely on the plain nominal GDP figures that you see commonly quoted.

ChonchaLib:
You're correct overall. But he is right on one thing, although he loses the plot as he starts to confuse concepts.

See it this way. He is right on the PPP aspect because it is almost unfair, so to speak, to assume that Nigeria lost that much output volume in a short time. Exchange rate changes essentially cut our GDP figure.

So to say that Nigeria is most likely still the largest or at least a close second in GDP, Africa-wise, is likely true.

However, they are referencing GDP PPP as a measure of real GDP. That is not true. GDP PPP is in local prices, which though domestic -focused and immune in a sense from immediate forex market impact (though not entirely true as Nigeria is heavily import-dependent and does feed in forex rates into its basic prices in a follow-up manner)--> you pointed this out .

While real GDP is a measure that considers only output change while 'chaining' prices to a base year (usually within the last five years at the time of measurement).

Looking into it, one would see that GDP PPP factors in domestic inflation. And for Nigeria, that's a massive issue. It's essentially on average, 12 to 16% over the past ten years (way above regular 2-5% levels).

I'll do the calculation for you quickly: using the cpi (price index on a common basket of goods) and 2020 (300 cpi) as a base year for both 2015(to check your claim) and 2024 (for the APC/tinubu guys). It is essentially 300/170 * 1.09 trillion USD PPP for 2015 to give 1.92 trillion USD 'real' GDP on PPP terms.

While for 2024 it would be 300/867 * 1.49 trillion USD GDP PPP to give 515 billion USD 'real' GDP on PPP terms. So yes you're correct .

In 2025 the cpi index was rebased and the new starting figure is below 200 I believe. This is a year 0 measure and cannot be used for any calculations of the past. Rather it will serve as a base for future years. So please always be on the look out for this.

Using their argument against them you are right concerning 'real' GDP on PPP terms.

That is why your gut feeling tells you otherwise. You know that life isn't better. And you're technically right. Though you're not supposed to rely on the plain nominal GDP figures that you see commonly quoted.

Thanks

mrvitalis:
Thanks

You're welcome, brother.

Na competition? Why don't we knock them out in power availability, Inflation and HDI?

Knocking them out on Projections? How about electricity, standards of living, healthcare ,education, sporting facilities, median salaries and wealth by avarage citizens. How about road networks, welfare packages ,pipe bourn water etc.
Rubbish. We want to win them in what makes them not japa not this fairytale win

You don talk my mind

seunmsg:
This news ordinarily should elicit optimistic and positive reactions from all sensible Nigerian. Since the IMF published the stats, folks who primarily come from the SE have done everything humanly possible to attack and condemn the news. While Chinese, Indians and nationals of other countries mentioned in the top ten went under the tweet to project their countries positively, these set of Nigerians who support Peter Obi went under the tweet to attract IMF and world of statistics.

South African and a lot of Europeans went under same tweet to bash their government for not doing enough to make the top ten. In fact, some Europeans appealed to IMF to present the EU as a country so that the EU can make the top ten. That’s how much other countries value the achievement. But in Nigeria, these haters are attacking everybody because Nigeria achieved what a lot of other countries are struggling to achieve. They are so pained and angry.

Sadly for them, our economic growth is on a very high trajectory. It is unstoppable. The country shall continue to get better and they shall continue to get angry.

seunmsg:
This news ordinarily should elicit optimistic and positive reactions from all sensible Nigerian. Since the IMF published the stats, folks who primarily come from the SE have done everything humanly possible to attack and condemn the news. While Chinese, Indians and nationals of other countries mentioned in the top ten went under the tweet to project their countries positively, these set of Nigerians who support Peter Obi went under the tweet to attract IMF and world of statistics.

South African and a lot of Europeans went under same tweet to bash their government for not doing enough to make the top ten. In fact, some Europeans appealed to IMF to present the EU as a country so that the EU can make the top ten. That’s how much other countries value the achievement. But in Nigeria, these haters are attacking everybody because Nigeria achieved what a lot of other countries are struggling to achieve. They are so pained and angry.

Sadly for them, our economic growth is on a very high trajectory. It is unstoppable. The country shall continue to get better and they shall continue to get angry.

Baba, I need electricity, period. I need my purchasing power increased, period not reducing my purchaisng power.
Like I dont want to sleep under heat and mosquitoe pls. All these other countries happy, they have electricity, Leave Peter Obi matter, I just want light and water, I am tired of carrying generator to fix. It is heavy and noisy and annoying.
I want quality healthcare. Like, i want at least the level of SA healthcare abeg. Do u get? These are what affect ordinary Nigerians. I want to stop paying estate security, I want emergency services respond to me like they do in SA. I dont want to dig bore hole to get water and I want to stop buying bottle water. It is expensive and no one will deduct that from my tax.
I want to stop wasting money on politicians who live so lavishly while masses suffer. These are whar will make us happy. We cant be dying at the hospital becus of no electricity at hospital and u expect us to be happy for mumu statis. I was at a private hosptial, they are using solar and them dey manage am. Rubbish country.

helinues:
When I said both Egypt and South Africa are using old glory about their economy, some people didn't understand then.

South Africa is indebted, they can't do much while Egypt are exhausted financially with their new city in the desert

Btw, imagine someone below claiming high GDP is not by production but by population, abeg is South Africa having population than Nigeria?

How some people are hell bent not to see the development of Nigeria and also not worried about the way they have been sounding and behaving about good news about Nigeria should be something worrisome

Remove that statement you bolded and stop embarrassing yourself. See below

mrvitalis:
Lmaooo once you See APC paid write up you just know

Nigeria GDP is not bigger than South Africa GDP we are 40% or more short off

Real GDP contribution is largely driven by population and not productivity

You know the painful part? APC guys know this but would still push the wrong narrative

Same when they started measuring GDP in PPP lol

What was written by Businessinsider is what you're calling an APC write-up?

No wonder they dey cage you guys every Monday like fowl.

seunmsg:
This news ordinarily should elicit optimistic and positive reactions from all sensible Nigerian. Since the IMF published the stats, folks who primarily come from the SE have done everything humanly possible to attack and condemn the news. While Chinese, Indians and nationals of other countries mentioned in the top ten went under the tweet to project their countries positively, these set of Nigerians who support Peter Obi went under the tweet to attract IMF and world of statistics.

South African and a lot of Europeans went under same tweet to bash their government for not doing enough to make the top ten. In fact, some Europeans appealed to IMF to present the EU as a country so that the EU can make the top ten. That’s how much other countries value the achievement. But in Nigeria, these haters are attacking everybody because Nigeria achieved what a lot of other countries are struggling to achieve. They are so pained and angry.

Sadly for them, our economic growth is on a very high trajectory. It is unstoppable. The country shall continue to get better and they shall continue to get angry.

This propaganda should only elicit condemnation from all patriotic Nigerians who feel the impact of Tinubu and APC wrecking our economy into 4th place in Africa, with worsening unemployment, inflation, insecurity and debt burden.

Do you know what Tinubu is doing with his increasing revenue from higher tax burden on Nigerians, as well as his $84 billion subsidy savings, if he is borrowing more than PDP presidents did?

PDP presidents who used deregulation and privatisation policies to give us 16 years of widespread prosperity.

anonimi:
This propaganda should only elicit condemnation from all patriotic Nigerians who feel the impact of Tinubu and APC wrecking our economy into 4th place in Africa, with worsening unemployment, inflation, insecurity and debt burden.

Do you know what Tinubu is doing with his increasing revenue from higher tax burden on Nigerians, as well as his $84 billion subsidy savings, if he is borrowing more than PDP presidents did?

PDP presidents who used deregulation and privatisation policies to give us 16 years of widespread prosperity.

Why are you writing stories for the guy. Just give him what his master told us, NA STATISTICS WE GO CHOP

QuinQ:
Remove that statement you bolded and stop embarrassing yourself. See below

Why is America GDP higher than China and India GDP combined.
Population only play part of it.

And may GOD bless the federal republic of Nigeria and her people.

mrvitalis:
Lmaooo once you See APC paid write up you just know

Nigeria GDP is not bigger than South Africa GDP we are 40% or more short off

Real GDP contribution is largely driven by population and not productivity

You know the painful part? APC guys know this but would still push the wrong narrative

Same when they started measuring GDP in PPP lol

You sound half intelligent, where is our population before now? Do you know that this projection will attract foreign investors? Tinubu decision is paying off, your wrong mindset notwithstanding.

simpleseyi:
JAGABAN the builder of a new Nigeria.

No noise, just actions. Hard decisions with strategic steps

Any idea why Tinubu’s lootocracy TAX master plan for Lagos has failed to build a new state where ordinary water is available to everyone?

Are you sure that you know what strategic steps mean, in terms of employing well paid civil servants to make government services and public utilities available for all

Bastiver:
Why is America GDP higher than China and India GDP combined.
Population only play part of it.

Services that cost less than ten dollars in China or India cost more than 100 dollars in the USA.

muykem:
You sound half intelligent, where is our population before now? Do you know that this projection will attract foreign investors?

Tinubu decision is paying off, your wrong mindset notwithstanding.

Indeed, Tinubu’s decision to squeeze out more taxes and subsidies from Nigerians is paying off in higher debt burden than PDP presidents who gave us cheap petrol and better life.

You are not just fully intelligent, Oga you are also overwise in your Stockholm Syndrome suffering affliction. Oríṣiríṣi ọgbọ́n ni ó kúkú wá.

How much is petrol today
How much subsidy are we forced to pay APC government for every litre of petrol

anonimi:
Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/

lawani:
GDP is total production in a country. Explain how it can reduce by half in one year in any country while the population is growing

You actually have a good understanding of economics and economic evaluation.
Many people don't understand these concepts.

Bastiver:
Why is America GDP higher than China and India GDP combined.
Population only play part of it.

See dumb question. Why not just study these things instead of arguing off the cuff?
Why does New York CITY have ten times more billionaires than all of African CONTINENT combined?

Kemetian:
https://africa.businessinsider.com/local/markets/nigeria-set-to-overtake-south-africa-as-africas-top-contributor-to-global-growth-in/72012wb

Nigeria, a country of 220 million plus dragging relevance and performance with South Africa, a country of 65million population.
Shamelessness par excellence!

mikeapollo:
Nigeria, a country of 220 million plus dragging relevance and performance with South Africa, a country of 65million population.
Shamelessness par excellence!

The world bank has stated that Nigeria remains the biggest GDP in Africa. That a mansion that costs 50k dollars in Nigeria is being sold at 200k in SA does not mean the SA has a bigger GDP than Nigeria. It just seems so