oduastates:
Never was Nigeria the largest economy. Not with that cassava bread economy.
We've had this arguments before.
Iweala massaged Agriculture to create imaginary Gdp figures .
Even South Africa's agricultural output dwarfs Nigeria's.
To
Key facts

Power generation : 55000MW
refineries : 7
steel plants : 25
Gold mines and plant: 10
Coal mines : 11
Uranium :1

I fact I will stop counting the plants. Let me just show what they sell to the rest of the world.
Almost every single item has a deep value chain. They not only mined these stuffs, they process and most time
times, sell finished products.
These facts show in their national budget which is like 6 times the Nigerian budget
South Africa national budget : $102 billion
Nigeria :$ 20 billion




world's largest producer
chrome
manganese
platinum
vanadium
vermiculite.

second largest producer
Ilminster
palladium
rutile
zirconium.

world's third largesture exporter
coal
Iron ore


5th largest

Gold

ISpiksDaTroof:


Nigerians are the only ones on earth that refuse to believe how truly poor and underdeveloped their country really is.

months:
GEJ MUST RETURN IN 2019, whether the Afonja like him or not.

We will kill dem all if we must 2 save Nigeria.

McGibson:
More than two years after losing Africa's largest economy to Nigeria, South Africa’s economy have regained its position in dollar terms as the value of the Nigeria’s naira move in opposite directions.
Based on gross domestic product at the end of 2015 published by the International Monetary Fund, the size of South Africa’s economy is $301 billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion.
The Nigerian economy shrank by 0.4 percent in the three months through March from a year earlier amid low oil prices and output and shortage of foreign currency. That curbed imports, including fuel. In South Africa, GDP contracted by 0.2 percent from a year earlier as farming and mining output declined.
“More than the growth outlook, in the short term the ranking of these economies is likely to be determined by exchange rate movements,” Alan Cameron, an economist at Exotix Partners LLP, told Bloomberg in an email response.
Cameron said, although Nigeria is unlikely to be unseated as Africa’s largest economy in the long run, “the momentum that took it there in the first place is now long gone.”
Nigeria was assessed as the continent’s largest economy in April 2014 when authorities in the West African nation overhauled their GDP data for the first time in two decades.
The rand gained 1 percent to 13.2805 per dollar at 4:03 p.m. in Johannesburg on Wednesday. The naira weakened 2.7 percent to 320 per dollar.

https://www.nigerianbulletin.com/threads/south-africa-kicks-nigeria-out-as-africas-largest-economy.219240/

Newmanluckyman:
... Surprise? No! They dullards are in charge. Thanks to APC AND BUHARI for this great feat. Build and consolidate on the existing structures the met on ground they refused.. Oya add a cubic to it, they blame Ghost.

McGibson:


check Bloomberg

oduastates:
Never was Nigeria the largest economy. Not with that cassava bread economy.
We've had this arguments before.
Iweala massaged Agriculture to create imaginary Gdp figures .
Even South Africa's agricultural output dwarfs Nigeria's.
To
Key facts

Power generation : 55000MW
refineries : 7
steel plants : 25
Gold mines and plant: 10
Coal mines : 11
Uranium :1

I fact I will stop counting the plants. Let me just show what they sell to the rest of the world.
Almost every single item has a deep value chain. They not only mined these stuffs, they process and most time
times, sell finished products.
These facts show in their national budget which is like 6 times the Nigerian budget
South Africa national budget : $102 billion
Nigeria :$ 20 billion




world's largest producer
chrome
manganese
platinum
vanadium
vermiculite.

second largest producer
Ilminster
palladium
rutile
zirconium.

world's third largesture exporter
coal
Iron ore


5th largest

Gold

chineloSA:
Thats not palatable. But we can claim back the position. SA economy is also not looking good.

Centrifude:
It's interesting how a few months ago Egypt had knocked S.A down to the number three spot and now we're back up again.

MetaHuman:
post the link here

michelz:
What sort of hopeless government is this?
Even if you can't improve on the gains of previous administration,why can't you atleast maintain the staus quo?
How could millions of educated Nigerians allow themselves to be deceived into this kind of mess?
Shame! Shame on all of them!
Big shame to the ones that came here online claiming economic and political gurus and deceived others into this mess.
Big shame on all those "Sai Baba!!"chanters who have suddenly disappeared!

oduastates:
Never was Nigeria the largest economy. Not with that cassava bread economy.
We've had this arguments before.
Iweala massaged Agriculture to create imaginary Gdp figures .
Even South Africa's agricultural output dwarfs Nigeria's.
To
Key facts

Power generation : 55000MW
refineries : 7
steel plants : 25
Gold mines and plant: 10
Coal mines : 11
Uranium :1

I fact I will stop counting the plants. Let me just show what they sell to the rest of the world.
Almost every single item has a deep value chain. They not only mined these stuffs, they process and most time
times, sell finished products.
These facts show in their national budget which is like 6 times the Nigerian budget
South Africa national budget : $102 billion
Nigeria :$ 20 billion




world's largest producer
chrome
manganese
platinum
vanadium
vermiculite.

second largest producer
Ilminster
palladium
rutile
zirconium.

world's third largesture exporter
coal
Iron ore


5th largest

Gold

14:


South Arica regained its 2nd spot in July after Egypt devalued their currency. Even Egypt is doing the very same ting that Nigeria is doing, capping their Egyptian pound, its 8.88 to the dollar in the official market while in the black market is 12.25 pound. Currently they are going around shutting all the black market traders in a bid to have a pegged pound to be effective. You cannot manufacture the rate of your currency, once you do that, no potential investor will ever set foot in your country. Now Egypt wants help from IMF, and IMF has given them conditions to give them that Loan, one of it is to devalue their currency once again to reflect reality on the ground.

What I am trying to show you is that in reality, Egyptian and Nigerian economies are very small compare to the South African one. Example, lets take Nigeria total GDP of N94trillion and divide it by the black market rate which is currently at N405 to the dollar, N94000/405= $232BN, and take Egyptian pound 2400/12.25 = $196BN and the South African one R4000/13.28 = $301BN. You see South Africa is the largest economy in Africa by far in reality. But if you consider the partially floated Nigerian naira at 94000/320 = $294BN, smaller than that of SA and the Egyptian one will be 2400/8.88 = $270BN.

Therefor:

1. South Africa = $301BN

2. Nigeria = $294BN on official rate and $232BN for black market rate

3. Egypt = $270BN on official rate and $196BN for black market calculated rate

Hopefully it makes sense, but its a simple maths

tartar9:
If its in terms of the dollar,have wailers forgotten the decline began under gej

BeClever:



$1= N402

14:


http://www.bloomberg.com/news/articles/2016-08-10/south-africa-s-economy-regains-rank-as-africa-s-biggest-on-rand

nigerianvenom:


I bought it 395 yesterday

explorer250:
Shame on buhari, APC and Yorubas that voted them in. Thr trio are poor economic Managers