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Nairaland Forum / Nairaland / General / Politics / Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) (16502 Views)
Olusegun Obasanjo: Before I Die, Lagos Will Become Africa’s 3rd Largest Economy / How We Made Anambra Nigeria’s 4th Largest Economy — Gov Obiano / Our Target Is To Make Lagos Third Largest Economy In Africa – Ambode (2) (3) (4)
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Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by IsraeliAIRFORCE: 6:30am On Jun 23, 2015 |
liberty300: Lagos—The administration of Governor Babatunde Fashola of Lagos State generated total revenue of N2.433 trillion through Federal allocation, Internally Generated Revenue, IGR and others in the last eight years. It also spent over N2.7 trillion in providing infrastructure and other economic needs for residents during the period under review. Commissioner for Economic Planning and Budget, Mr. Ben Akabueze, who disclosed this yesterday, in Alausa, Ikeja at a briefing explained that the total revenue generated represents 89 percent of the total expenditure by the government. According to him, “The total revenue generated by the administration is N2.433 trillion through Federal allocation, Internally Generated Revenue, IGR and others, representing 89 percent of the total expenditure by the government. The aggregate budgetary expenditure in the last eight years by the present administration is N2.749 trillion.” He explained “What these translate to is that only 11 percent of the state’s expenditure has been funded from debt. Of course not all the revenue was generated through IGR. Only 59 percent (N1.4 trillion) of the budgetary expenditure was funded through IGR.” “The government through the ministry in the last eight years certified 8, 961 projects/programmes valued at N1.132 trillion.” Akabueze stated that the bulk of the projects were done last year, saying “the sum of N39.675 billion was issued as pre-payment certificates.” The commissioner noted that the average budget performance over the period stood at 79 percent, adding, “the claim that the state is operating on loan is not true.” According to him, “Average sectoral allocation of the budget from 2008 and 2015 are: General Service; 23.70 percent, Public Order and safety; 3.12 percent, Economic Affairs; 31.58 percent, Environmental protection; 8.56 percent, Housing and community amenities; 9.17 percent, Health; 7.66 percent, Recreation, culture and Religion; 1.5 percent, Education; 14.09 percent and Social protection; 0.60 percent.” www.vanguardngr.com/2015/05/lagos-generates-n2-433trn-in-eight-years-spends-n2-7trn/ 1 Like 1 Share |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Nobody: 6:31am On Jun 23, 2015 |
Dollyak:I never expected dis from u U just "punched" ma emotions #niger delta cum biafra ma sweet home |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by zendy: 6:37am On Jun 23, 2015 |
I would have prefared if they had said that Lagos is the largest economy rather than the South-west. I still maintain that if the British had never moved the Capital of Nigeria from Calabar to Lagos, this same Lagos would have probably been just a 'Coastal Town' by now. |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 6:41am On Jun 23, 2015 |
Dollyak: Otudeko advices Oyo on economy The Chairman, First Bank of Nigeria Holding Plc, Oba Otudeko, has said for Oyo State to take advantage of the investment opportunities that abound in the state, government must show commitment to infrastructural development and access to large market. Speaking at the state economic summit in Ibadan on Monday, which was declared open by the state governor, Abiola Ajimobi, Otudeko, who was the chairman of the panel of discussants, made reference to the thriving economy of Singapore, with less population and economic advantage than Oyo. [b] said, “Oyo State is established and put on the positive road of development and progress. The social and economic indicators of the state present good news. According to a study in May 2013, the state was regarded as the third biggest economy in Nigeria after Lagos and Kano states. It had a $14.2bn Gross Domestic Product and its GDP per capital put at $2,165 with 60 per cent of its population of six million belonging to the working class. “When you compare this with Singapore, which has five million people, it means Oyo has more economic advantage. But why are we not in the stage of development attained in Singapore? Oyo State has the second largest middle class population in Nigeria’s South-West with the major competitive advantage being the presence of research institutes like Nigeria Institute of Social and Economic Research, International Institute for Tropical Agriculture and others,” said Otudeko. “For the state to be viable, a sustainable industrial environment requires government incentives, physical infrastructure and access to large market. The working population must be skilled, educated and supported by availability of raw materials, especially in agriculture, and supporting institutions. We must not forget that good security network is very important to the development we aspire as well as good health care system,” he said. Speaking at the forum, Ajimobi said that the state was ready to partner with and offer incentives to investors willing to explore opportunities in the agriculture and other sectors in the state. In his keynote address, the Chairman, Nigerian Economic Summit Group and Executive Chairman, Philip Consulting, Mr. Foluso Philips, said with good leadership, the state would achieve its aims and economic desires. At the summit, the President, Dangote Group of Companies, Aliko Dangote, was represented by the company’s Executive Director, Knut Ulvmoen. The Director-General, Standards Organisation of Nigeria, Dr. Joseph Odumodu; Ogun State Governor, Ibikunle Amosun, and other top stakeholders in the nation’s economy also graced the event. [/b] Contact: editor@punchng.com 1 Like |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Nobody: 6:42am On Jun 23, 2015 |
Dollyak:yeye dey smell ... Just say Lagos is the largest economy In Africa ..... Why not remove Lagos .. Let see wat the other 5 Southwest state contribute |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Nobody: 6:47am On Jun 23, 2015 |
Remove Lagos if you really want to know where the S.W is, otherwise this is just chest beating. |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by hakeem4(m): 6:47am On Jun 23, 2015 |
BuddahMonk:shut up
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Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 6:48am On Jun 23, 2015 |
Lemon12: Na jealousy go finish you Igbos, considering that you all and your region contribute the least to Nigeria. What is in the SE def? Nothing! No wonder you all flock to the same SW you love to hate so much. 3 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Nobody: 6:50am On Jun 23, 2015 |
CSTR2: Word |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Nobody: 6:52am On Jun 23, 2015 |
OkutaNla:mind you !! We only live in Lagos cuz Lagos is a no man's land ... 1 Like 1 Share |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by mistabiola: 6:54am On Jun 23, 2015 |
6 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 6:54am On Jun 23, 2015 |
Dollyak: The Ogun state's industrialisation project has received a strong boost as thirty-five new firms have opened their production plants in the state's industrial estates in the last two years.
1 Like |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 6:55am On Jun 23, 2015 |
Dollyak: Check this out: https://www.nairaland.com/2322312/ogun-state-nigerias-emerging-industrial 1 Like |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 6:58am On Jun 23, 2015 |
According to a study in May 2013, Oyo state was regarded as the third biggest economy in Nigeria after Lagos and Kano states. It had a $14.2bn Gross Domestic Product and its GDP per capital put at $2,165 with 60 per cent of its population of six million belonging to the working class. 2 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by CSTR2: 6:58am On Jun 23, 2015 |
OkutaNla:Yet can't pay salaries. Keep deceiving yourselves over there. |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Bifwoli: 6:59am On Jun 23, 2015 |
"By my estimates, the Southwest region was the third largest economy in the continent of Africa n 2014!" That's lots of hogwash,entirely untrue and wishful thinking.Who made you an authority on African economics and what qualifies you to claim such? |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Yeske2(m): 7:00am On Jun 23, 2015 |
Paper GDP figures and poverty rate comparable to the NE and NW, remove Lagos and let's talk. That's how you go churning out figures based on borrowed money and when the source of borrowed money dried up, we actually saw the real GDP and per capita. Continue churning out feel-good figures, we know reality. |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by CSTR2: 7:01am On Jun 23, 2015 |
. |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by CSTR2: 7:01am On Jun 23, 2015 |
The SW is socialistic by default.
Take away lagos and all you get are "father-christmas" cum civil service states. |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 7:02am On Jun 23, 2015 |
Dangote refinery to begin operation 2018 in Ondo State 2 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by sanmibukunmi: 7:03am On Jun 23, 2015 |
Sincerely when I Ơ̴̴͡.̮Ơ̴̴̴͡ what we youths have gots, I can't help but wonder why we are still suffering. I have noticed a few months ago that we youths have got infos that even our governors, senators and other politicians don't have. We know things that they don't have idea of its existence.... Why can't we put all these into full use and change our lives with it?? Why can't we tap into the various opportunities that lies before us and better out lives instead of waiting for them politicians....I seriously dream of that day when we will be able to come out and say yes we have been able to make full use of the vast opportunities in our lands. |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 7:04am On Jun 23, 2015 |
CSTR2: Yimu. Even Akwa Ibom sef dey owe workers money, not to talk of your SE Shyt holes! Oshiomole just revealed that even the FG is in WORSE position than the states. No amount of Igbo hatred can change the fact that the SW has more potential than all of your cursed region combined when harnessed! FACT 6 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 7:06am On Jun 23, 2015 |
CSTR2: LOL. We don hear. Oya tell us what your Shyt hole of a region SE contributes to the Nigerian economy? Na una dey migrate from una region pass any other group of people coz you ain't got shyt to stand on in your region. FACT! 2 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 7:07am On Jun 23, 2015 |
Yeske2: Fine, where are the SE's own 'paper GDP figures'? ? All you people do is criticize others, while your people run to those same regions you criticize in droves. 6 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Nobody: 7:09am On Jun 23, 2015 |
Dollyak: I agree with you in terms of taxation but disagree slightly with the statistics you put forward in regards to GDP, Nigeria's current GDP stands at a whooping $1.109 trillion according to the link below. Nigeria is actually the 21st richest country in the world with countries like SA, UAE, Netherlands, Switzerland behind us... http://m.worldsrichestcountries.com/?url=http%3A%2F%2Fwww.worldsrichestcountries.com%2F&utm_referrer=#2615 |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by CSTR2: 7:13am On Jun 23, 2015 |
OkutaNla:Akwaibom is far developed than any part of your SW shitthole. We can see what they use their allocations for unlike those dead-beats states in the SW. Don't insult akwaibom again. The SW has more potential yet it has been leaching on other regions for decades. It has also greater poverty than any other southern region. Your potential means diddly squat as you guys don't have the entrepreneural drive to harness it. Btw, i don't care about the FG. Atleast they are not owing salaries. 3 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 7:14am On Jun 23, 2015 |
The Ondo refinery, according to the President, Dangote Group, Alhaji Aliko Dangote, will generate over 10,000 direct jobs and end the importation of refined petroleum products into the country. To the South East haters, when was the last time your entire region attracted a big enough investment that can potentially generate up to 10,000 jobs? Some of your leaders are even whinning that Dangote has refused to invest in your region, can one blame him? ? Even your 'billionaires' would rather invest in the SW Food for thought. 3 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by Dollyak(f): 7:15am On Jun 23, 2015 |
folajoseph:No, that is for purchasing power parity. There is a big difference between PPP, nominal and per capita. 2 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 7:19am On Jun 23, 2015 |
CSTR2: Only in your wildest dreams will Akwa Ibom be 'far' developed than any part of SW. I put it to you that Ibadan alone, not to mention Lag, is far ahead of your Akwa Ibom infrastructurally, upon all your Oyel money. FACT. Besides, Akwa Ibom is among the owing states Akwa Ibom, Rivers, others owe workers despite receiving highest Excess Crude money 2 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by tonychristopher: 7:21am On Jun 23, 2015 |
They claim the most educated yet facts and stats from said its a lie They claim the most sophisticated yet culture and fetish tradition made us know these are lies They are now claiming the biggest economy yet ekiti and osun are finding it very hard to pay workers and even ekiti wants to send their docile kids to east OK ..ignorance is bliss...pride comes before failure 3 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by OkutaNla: 7:23am On Jun 23, 2015 |
tonychristopher: Where are your own FACTS to dispute the OP's assertion? It's easy to talk shyt and criticize, SHOW US YOUR OWN COUNTER FIGURES TO REFUTE THE OP's ASSERTION, OR FOREVER HOLD YOUR PIECE! 4 Likes |
Re: Southwest Nigeria-third Largest Economy In Africa(ideas For More Prosperity) by CSTR2: 7:25am On Jun 23, 2015 |
The SW is heavily dependent on foreign investments due to the low entrepreneural drive of the locals. No foreign investment or any future transfer of foreign investments from there means very few jobs. No wonder the rest of the SW states except lagos and ogun to an extent are like almajiris states due to low economic activities as a result of low foreign investments. The SE on the other hand is driven majorly by the indigenous investments. A more palatable ecomomic situation in the long run. 3 Likes 1 Share |
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