₦airaland Forum

🇳🇬NIGERIA'S GDP GROWTH RATE SINCE 1999

🏛OBASANJO
1999: 0.52%
2000: 5.52%
2001: 6.67%
2002: 14.60%
2003: 9.50%
2004: 10.44%
2005: 7.01%
2006: 6.73%

🏛YAR'ADUA
2007: 7.32%
2008: 7.20%
2009: 8.35%

🏛JONATHAN
2010: 11.26%
2011: 4.89%
2012: 4.28%
2013: 5.39%
2014: 6.31%

🏛BUHARI
2015: 2.65%
2016: -1.62% [Recession]
2017: 0.81%
2018: 1.92%
2019: 2.21%
2020: -1.79% [Recession]
2021: 3.65%
2022: 3.25%

🏛TINUBU
2023: 3.3%
2024: 4.1%
2025: 4%
2026: 4.1% [Projected]

#Statisense
(IMF WEO Apr 2025)

source2

We were paying subsidy during OBJ, Ya'adua & GEJ yet we had better economic growth. Payment of subsidy is not the problem. It's eliminating corruption from it which Buhari & Tinubu lack the political will to do. Then, Tinubu took the easy way out to the detriment of Nigerians.





Wetin I even know sef? I'm just an ordinary Nigerian Policewoman.

MamaFryo:
We were paying subsidy during OBJ, Ya'adua & GEJ yet we had better economic growth. Payment of subsidy is not the problem. It's eliminating corruption from it which Buhari & Tinubu lack the political will to do. Then, Tinubu took the easy way out to the detriment of Nigerians.





Wetin I even know sef? I'm just an ordinary Nigerian Policewoman.

Do you actually think before typing? Why are you always like this?

The leadership that made it great for Nigeria are well know while those who destroyed it are also well known.

How will this put food on the masses table.

It's funny to be sounding like those confused opposition supporters sometimes

[quote author=helinues post=140508287]How will this put food on the masses table.

It's funny to be sounding like those confused opposition supporters sometimes

[/quote
So does this mean you don't want to look for a job?

ForensicAngel1:
t

You are only confirming that you are not normal.

So you have to be creating daily monikers just to remind me about job

Some of you opposition have totally lost it

The numbers don't lie. Even at Jonathan's worst, he was still better than APCs best.

helinues:
You are only confirming that you are not normal.

So you have to be creating daily monikers just to remind me about job

Some of you opposition have totally lost it

So you have hugged joblessness and poverty with harmony?

Propaganda on the lose... 😅


It will not save the evul party

Buhari and tifnubu are the worst presidents we ever had. One was a certificateless herdman while the other is a certificate forger.

May they never happen to Nigeria again.

MamaFryo:
We were paying subsidy during OBJ, Ya'adua & GEJ yet we had better economic growth. Payment of subsidy is not the problem. It's eliminating corruption from it which Buhari & Tinubu lack the political will to do. Then, Tinubu took the easy way out to the detriment of Nigerians.





Wetin I even know sef? I'm just an ordinary Nigerian Policewoman.

And in the process we were also generating the massive debt that made the subsidy to be removed in 2023.

Little drops always add up.

Also, as early as 2005, Obasanjo wanted to remove subsidy, Nigerians said no, and abused Obasanjo's minister who said fuel should not cost less than a bottle of coke. In 2011, GEJ wanted to remove subsidy, and Nigerians said no, joined by TInubu and Buhari. IN 2015, Buhari removed subsidy, only to bring it back, and spend more on it. That shows you that even then they were struggling to pay the subsidy . IN the midst of a supposedly prosperous economy.

And all that time, we were borrowing to keep the subsidy paid for, while our refineries were degenerating. IN 1990, Nigeria could refine 40000 bpd combined. IN 2011 it was 92000, by 2019 it was 6000.

If we had removed subsidy even as early as 2009, we may have had working refineries, a glut of private refineries and so forth. That subsidy you are praising cost us the chance to have those refineries, and drained our foreign reserves to the dregs. It also wrecked our economy, and promoted massive corruption and stealing, and losses in the billions of naira.

And you are here praising it.

And tinubu even added subsidy of seven months that worsened our debt.

Subsidy is not free money, it is a massive IOU that would be colelcted from the Nigerian people when due. And right now, we dey collect am.

Make we no dey praise the thing that caused our problem, and that made us not to listen to sane advice to take it.

Oluwole is simply a virus and a packaged fraud. He's leaving Aso Rock come 2027, rigging won't even save him at all.

Dogalmighty17:
The numbers don't lie. Even at Jonathan's worst, he was still better than APCs best.

The numbers don't lie indeed but you are yet to understand the story they are telling you. The critical fact is that there is a pattern to the numbers which shows that average GDP growth per presidential term dropped consistently and took a sharp decline under Jonathan and only began to pick up under Tinubu. That tells you something fundamental changed. And what was it?

Obasanjo cleared Nigeria's foreign debt through the historic Paris club refund. By the midpoint of GEJ's tenure, Nigeria was back in debt again. The windfall from the OBJ years, which Ngozi Okonjo Iweala advised the Federal and State governments to save, was squandered and we went right back to borrowing.

I saw one person up there say we were paying subsidy throughout these years but such people do not realize there is no free lunch anywhere. We were paying from money we did not have. That was why Jonathan's move to remove subsidies in 2011 was the right move but he lacked the strength of character to do the right thing even if he would be seen as the bad guy by the masses.

That Jonathan's worst set the stage for Buhari's worst. The difference is simply that Jonathan took over from Obasanjo who had left him abundance. Thus, while he depleted the reserves and plunged us right back into debt, the nominal growth figure stands to his nominal credit, obscuring just how bad a president he was.

Olofofo247ng:
Do you actually think before typing? Why are you always like this?

What part of her post is not in sync with the data you shared?

PDP presidents gave us cheap petrol, cheap dollars, low debt and still grew our economy for widespread prosperity, peace and security.

What part of the above is not true?

Jonathan even grew the economy when oil price/ revenues were falling.

anonimi:
FG, States, LGs Share N568.4 Billion for Oct
15 NOVEMBER 2013

Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that the states had requested for $2bn to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

Tinubu is the very best of them all. He should stay for 4 more terms.

SmartyPants:
The numbers don't lie indeed but you are yet to understand the story they are telling you. The critical fact is that there is a pattern to the numbers which shows that average GDP growth per presidential term dropped consistently and took a sharp decline under Jonathan and only began to pick up under Tinubu. That tells you something fundamental changed. And what was it?

Obasanjo cleared Nigeria's foreign debt through the historic Paris club refund. By the midpoint of GEJ's tenure, Nigeria was back in debt again. The windfall from the OBJ years, which Ngozi Okonjo Iweala advised the Federal and State governments to save, was squandered and we went right back to borrowing.

I saw one person up there say we were paying subsidy throughout these years but such people do not realize there is no free lunch anywhere. We were paying from money we did not have. That was why Jonathan's move to remove subsidies in 2011 was the right move but he lacked the strength of character to do the right thing even if he would be seen as the bad guy by the masses.

Why is Tinubu borrowing more than PDP presidents who gave us cheap petrol even when oil price was low, even though roads are worse than before

givedemwotowoto:

“This is how the Benin–Asaba Expressway looks yesterday, Thursday, August 20, 2026. Look at how cars and trailers are stuck because of the bad road. Mr Peter Obi advised the APC to start fixing existing roads, but instead, they are att@cking him. Instead of Dave Umahi focusing on… pic.twitter.com/k3V0eCNOo8

— CHUKS 🍥 (@ChuksEricE) August 21, 2026

Obasanjo, Yardua and Jonathan did up to 11 and 14 points.....


But Tinubu and his gang were making noises and disturbing us all those years even with their fake school certificates.


No wonder somebody said they are two illiterates who ruled Nigeria and bless them with suffering.


Yeye dey smell.


Tufiaa!!!!

SmartyPants:
The numbers don't lie indeed but you are yet to understand the story they are telling you. The critical fact is that there is a pattern to the numbers which shows that average GDP growth per presidential term dropped consistently and took a sharp decline under Jonathan and only began to pick up under Tinubu. That tells you something fundamental changed. And what was it?

Obasanjo cleared Nigeria's foreign debt through the historic Paris club refund. By the midpoint of GEJ's tenure, Nigeria was back in debt again. The windfall from the OBJ years, which Ngozi Okonjo Iweala advised the Federal and State governments to save, was squandered and we went right back to borrowing.

I saw one person up there say we were paying subsidy throughout these years but such people do not realize there is no free lunch anywhere. We were paying from money we did not have. That was why Jonathan's move to remove subsidies in 2011 was the right move but he lacked the strength of character to do the right thing even if he would be seen as the bad guy by the masses.

All true, especially at the bolded. We were paying from what we did not have. GEJ saw it, but NIgerians refused to listen. Just as we had refused to listen in 1992 when the IMF warned us directly that subsides were damaging our economy. We told Baroness Chalker to go home, and called them imperialists and all sorts of names. See where we are now.

Not just GEJ, every leader too deserves the blame (tinubu did not remove subsidy because he was fearless, he removed it because no one would loan us money without ti going). Abacha refused to remove subsidy, Obasanjo too, Yaradua, Buhari removed it, only to bring it back, and so forth.

We were paying from money we did not have. And five decades of doing that cost us four refineries, and the massive debt, that if not for debt forgieveness in 2005, we would have been in even deeper hot soup by now.

nairalanda1:
And in the process we were also generating the massive debt that made the subsidy to be removed in 2023.

Little drops always add up.

Also, as early as 2005, Obasanjo wanted to remove subsidy, Nigerians said no, and abused Obasanjo's minister who said fuel should not cost less than a bottle of coke. In 2011, GEJ wanted to remove subsidy, and Nigerians said no, joined by TInubu and Buhari. IN 2015, Buhari removed subsidy, only to bring it back, and spend more on it. That shows you that even then they were struggling to pay the subsidy . IN the midst of a supposedly prosperous economy.

And all that time, we were borrowing to keep the subsidy paid for, while our refineries were degenerating. IN 1990, Nigeria could refine 40000 bpd combined. IN 2011 it was 92000, by 2019 it was 6000.

If we had removed subsidy even as early as 2009, we may have had working refineries, a glut of private refineries and so forth. That subsidy you are praising cost us the chance to have those refineries, and drained our foreign reserves to the dregs. It also wrecked our economy, and promoted massive corruption and stealing, and losses in the billions of naira.

And you are here praising it.

And tinubu even added subsidy of seven months that worsened our debt.

Subsidy is not free money, it is a massive IOU that would be colelcted from the Nigerian people when due. And right now, we dey collect am.

Make we no dey praise the thing that caused our problem, and that made us not to listen to sane advice to take it.

How much has Tinubu regime borrowed?

anonimi:
Why is Tinubu borrowing more than PDP presidents who gave us cheap petrol even when oil price was low, even though roads are worse than before

If you read what you quoted, I believe the answer is already facing you squarely. Obasanjo secured the Paris Club refund which meant that for the first time in decades, all our revenue was unencumbered. This meant that we had a massive flow of money to spend. Why would we have borrowed then?

The real question is why did GEJ borrow? He is the only one out of all four who inherited a government without debts. So what sequence of events led him to plunge us back into debt during a global oil boom??

And none of this should be read as saying Tinubu is justified in keeping up with borrowing. No, but the formulation of your question is ridiculous to the extent that it pretends the PDP stewarded this nations resources faithfully.

Growth no one is feeling save for few capital investors.

mycar:
How much has Tinubu regime borrowed?

.
Exactly. He opposed subsidy removal in 2012, now as a result of doing that, he is borrowing more than other past leaders because of the debt incurred by opposing subsidy removal when it would have been done properly. Karma and all that.


Now, why are you supporting something that would make any government that replaces tinubu's government come 2027 by God's grace..borrow more than what even tinubu is borrowing, and burden NIgerians more, seeing as it is affecting us more

The GDP Statistics actually vindicated Obasanjo as the best president ever that graced the Nigerian soil.
God bless Obasanjo!
True Soldier of our time!!

SmartyPants:
The numbers don't lie indeed but you are yet to understand the story they are telling you. The critical fact is that there is a pattern to the numbers which shows that average GDP growth per presidential term dropped consistently and took a sharp decline under Jonathan and only began to pick up under Tinubu. That tells you something fundamental changed. And what was it?

Obasanjo cleared Nigeria's foreign debt through the historic Paris club refund. By the midpoint of GEJ's tenure, Nigeria was back in debt again. The windfall from the OBJ years, which Ngozi Okonjo Iweala advised the Federal and State governments to save, was squandered and we went right back to borrowing.

I saw one person up there say we were paying subsidy throughout these years but such people do not realize there is no free lunch anywhere. We were paying from money we did not have. That was why Jonathan's move to remove subsidies in 2011 was the right move but he lacked the strength of character to do the right thing even if he would be seen as the bad guy by the masses.

That Jonathan's worst set the stage for Buhari's worst. The difference is simply that Jonathan took over from Obasanjo who had left him abundance. Thus, while he depleted the reserves and plunged us right back into debt, the nominal growth figure stands to his nominal credit, obscuring just how bad a president he was.

Rebasing of GDP helped the Tinubu figures in no small measure. It is hard for any sane human to see where the growth has taken place. Is it in output of commodities or a new industry has sprung up somewhere?
Save for rebasing of GDP that finally included telcom and more tech output that accrued over the last 25 years, Tinubu is used using 200m to play a highway-build-and-toll game.
Tinubu is just playing idiotic games with numbers, nothing more.

Olofofo247ng:
Do you actually think before typing? Why are you always like this?

Mr omniscience, this hole you are digging will swallow you. You are happy with this your Tinubu unrealistic GDP? It make sense to you.
The reason I prefer to make friends with fishes than human that think the way you do.

nairalanda1:
.
Exactly. He opposed subsidy removal in 2012, now as a result of doing that, he is borrowing more than other past leaders because of the debt incurred by opposing subsidy removal when it would have been done properly. Karma and all that.


Now, why are you supporting something that would make any government that replaces tinubu's government come 2027 by God's grace..borrow more than what even tinubu is borrowing, and burden NIgerians more, seeing as it is affecting us more

the issue here is accountability, besides, I thought what they said they were subsidizing was the transportation from lagos to other parts of the country.
The truth here is that, it is not only that subsidy was removed, profit is being made by government via tax from the sale of the petrol

CodeTemplar:
Rebasing of GDP helped the Tinubu figures in no small measure. It is hard for any sane human to see where the growth has taken place. Is it in output of commodities or a new industry has sprung up somewhere?
Save for rebasing of GDP that finally included telcom and more tech output that accrued over the last 25 years, Tinubu is used using 200m to play a highway-build-and-toll game.
Tinubu is just playing idiotic games with numbers, nothing more.

Rebasing is a relatively normal thing to do after some period of years. Note that GEJ also rebased the GDP which was what led to Nigeria finally overtaking South Africa as Africa's largest economy for some time. So you can criticize Tinubu on his own merit but it becomes hypocritical to criticize Tinubu against the standard set by previous presidents who did the very same things you're criticizing Tinubu for.

On the merits, one of the things Tinubu has standing to his credit in terms of GDP is improvement of foreign indirect investments. There's been a significant inflow that has contributed significantly to GDP. Of course, we want to see actual domestic production being the major contributor to GDP growth, but is 4 years enough for a radical transformation given the realities of the operating context?

The fact is that the first policy introduced by this government was the removal of fuel subsidies which brings initial hardship. But is the question simply one of whether the policy brought or impeded GDP growth or is it one of whether it was the right structural change for the long term health of the said economy?

Again, recall that there was run away inflation at the onset of the tenure. One of the moves put in place to arrest same was the hiking of the interest rates by the CBN, which drew in foreign portfolio investment but undoubtedly would have slowed direct investment simultaneously.

So the question then becomes, did this government fail to stimulate GDP growth or did this government do a tremendous job of arresting the economic damage?

There is real context to these issues.

Olofofo247ng:
🇳🇬NIGERIA'S GDP GROWTH RATE SINCE 1999

🏛OBASANJO
1999: 0.52%
2000: 5.52%
2001: 6.67%
2002: 14.60%
2003: 9.50%
2004: 10.44%
2005: 7.01%
2006: 6.73%

🏛YAR'ADUA
2007: 7.32%
2008: 7.20%
2009: 8.35%

🏛JONATHAN
2010: 11.26%
2011: 4.89%
2012: 4.28%
2013: 5.39%
2014: 6.31%

🏛BUHARI
2015: 2.65%
2016: -1.62% [Recession]
2017: 0.81%
2018: 1.92%
2019: 2.21%
2020: -1.79% [Recession]
2021: 3.65%
2022: 3.25%

🏛TINUBU
2023: 3.3%
2024: 4.1%
2025: 4%
2026: 4.1% [Projected]

#Statisense
(IMF WEO Apr 2025)

source2

Omo buhari na disaster oo.

Twice he ruled nigeria and twice he destroyed the country

Kai shege banza

SmartyPants:
Rebasing is a relatively normal thing to do after some period of years. Note that GEJ also rebased the GDP which was what led to Nigeria finally overtaking South Africa as Africa's largest economy for some time. So you can criticize Tinubu on his own merit but it becomes hypocritical to criticize Tinubu against the standard set by previous presidents who did the very same things you're criticizing Tinubu for.

On the merits, one of the things Tinubu has standing to his credit in terms of GDP is improvement of foreign indirect investments. There's been a significant inflow that has contributed significantly to GDP. Of course, we want to see actual domestic production being the major contributor to GDP growth, but is 4 years enough for a radical transformation given the realities of the operating context?

The fact is that the first policy introduced by this government was the removal of fuel subsidies which brings initial hardship. But is the question simply one of whether the policy brought or impeded GDP growth or is it one of whether it was the right structural change for the long term health of the said economy?

Again, recall that there was run away inflation at the onset of the tenure. One of the moves put in place to arrest same was the hiking of the interest rates by the CBN, which drew in foreign portfolio investment but undoubtedly would have slowed direct investment simultaneously.

So the question then becomes, did this government fail to stimulate GDP growth or did this government do a tremendous job of arresting the economic damage?

There is real context to these issues.

Reference the rebasing done by GEJ please.
I know the subsidy of forex as at that time played out in GEJ's favour but your claim about rebasing the GDP is not sounding familiar with me.