martineverest:
growth rate of USA is about 2.3 percent,while growth rate of Ivory coast Is 7 percent,will u now say American government isnt performing because ivory coast is growing faster....get the logic, I'm not supporting Nigeria government,but op made it look as if NIGERIA economy Is low compared to other African countries

It is simple mathematics. catch up effect, and diminishing marginal return. Ivory coast needs to catch up.

Pavarottii:

So how much GEJ adding wen he was averaging 6%?

before the rebasing, our gdp was pegged at about just over 200bn dollar. and at that time, we were growing almost 8% of over 200bn. just do the maths and you will know what we were adding every year.

martineverest:
did u read my reply to other guy when he compared growth rate of China and that of Singapore or usa?

My friend, you don't know what you're talking about. The pervasive hunger and the spike in suicide tells more story than any economic statistics. Millions of people lost their jobs and NO new companies have come up. How do you expect the economy to grow? Thanks to diaspora remission else you'd have cried more. Nigeria is in coma. Stop defending the indefensible.

martineverest:
I know Ur IQ is low...do the mathematical calculations of GDP in relation with growth rate.u will realise that at that growth rate ,the amount of economical growth in dollars is larger than other west African nations combined

Please what is the growth rate of China, India, USA? These are far bigger Economic. And before you bring in the Develop and developing economic argument, ask yourself if this is what it has always been.

Iretii0511:


Please what is the growth rate of China, India, USA? These are far bigger Economic. And before you bring in the Develop and developing economic argument, ask yourself if this is what it has always been.

growth rate of USA is 3 percent while ivory coast is 7 percent....oya lemme hear Ur say

Sooooo....musictori is telling us about economics of nation. please who is behind this. what is the source and benchmark for reaching this report, what indices were used.

thablogger:
For the GDP Growth rate for West Africa, Nigeria stands last on the list with a growth rate of 1.9%. Also, the highest on the list is Cote d'Ivoire with a growth rate of 7.4%.

See list

Source: https://www.musictori.com/2019/04/gdp-growth-rate-of-west-africa-nigeria.html

thablogger:
For the GDP Growth rate for West Africa, Nigeria stands last on the list with a growth rate of 1.9%. Also, the highest on the list is Cote d'Ivoire with a growth rate of 7.4%.

See list

Source: https://www.musictori.com/2019/04/gdp-growth-rate-of-west-africa-nigeria.html

USA GDP is between 2.2 and 3.2%

does it make the countries above that better?

GDP alone is not a determinant of how well an economy is doing

martineverest:
the headline shows op is poor mathematically.....our economy is larger than the entire west African countries,do u expect it to grow higher than smaller economics?

analogically,the growth rate of Switzerland,singapore,Korea etc economics is expected to be higher than those of USA, Germany,Japan,china and india

if u do the mathematical calculations,the growth in dollars of Nigeria economy could be larger than the entire growth of those west African economics

I hope you know Nigeria has almost 200 million people. If the Chinese reasoned like you, they may still be like Nigeria today. Your excuse is not tenable
India is growing fast, China has maintained remarkable growth over the years. These country's economies are much larger than ours. Even Nigeria maintained good growth until the catastrophe called Buhari struck.

Furthermore, Nigeria is an underdeveloped country and as such has the capacity to grow at a much faster rate than developed countries. If Nigeria maintains this growth rate for the next 209 years, we'd still remain underdeveloped because the world is moving ahead.

okosodo:
We used to be no1 on that list. But now that baba dullard is in charge, we have taken back seat. I am afraid to say that we are going to be like this for a very long time till the yorubas refuse to use sentiments to judge performance. I did not insult anybody, so I will not reply insults

USA GDP is between 2.2 and 3.2%

does it make the countries above that better?

GDP alone is not a determinant of how well an economy is doing

martineverest:
the headline shows op is poor mathematically.....our economy is larger than the entire west African countries,do u expect it to grow higher than smaller economics?

analogically,the growth rate of Switzerland,singapore,Korea etc economics is expected to be higher than those of USA, Germany,Japan,china and india

if u do the mathematical calculations,the growth in dollars of Nigeria economy could be larger than the entire growth of those west African economics

This is bullshit. NIGERIA and the rest of west Africa are underdeveloped country, therefore needs a growth rate that is tripple of developed world to meet up.

Usa and Germany are developed country, they have grown enough in technology, education, health care services Etc. Why Will Nigeria be comfortable with 1.9 growth rate.


If you don't get it, get this analogy, let say you are playing a mortal kombat video game. After you win and have cross many levels - it will becomes more and more difficult to progress. The game gets harder and harder as you move up the value chain. US and Germany have somewhat saturated. Such is the case in developed economies like Germany and US. NIGERIA is a poor country and likewise the rest of west africa. So if Nigeria is not growing impressively at this stage . It shows Goverment are not doing well in infrastructure, manufacturing base, education, and healthcare.

The other west africa are having catch up growth. Which means if it continue to grow in such way and Nigeria continue growth still remains poor. They may catch up though there is still a long way to go to bridge that gap.

Asshurbanipali:
Buhari is a complete failure. It is now very clear that only illiterates and almajiris who doesn't understand economic indices voted this gworo chewing cow-herder.

Sane Nigerians with knowledge of the economy voted Atiku-Obi and they in the majority.

They are not any different from Buhari & osinbajo

thablogger:
For the GDP Growth rate for West Africa, Nigeria stands last on the list with a growth rate of 1.9%. Also, the highest on the list is Cote d'Ivoire with a growth rate of 7.4%.

See list

Source: https://www.musictori.com/2019/04/gdp-growth-rate-of-west-africa-nigeria.html

y do u guys like negativity? When will show us dat workers salary was increased n being paid as n when due by FG? When'll u shows us ur own negativity in ur family?
Wake up n know that dat election is over n Buhari has been re_elected by sane Nigerians

MiddleDimension:


before the rebasing, our gdp was pegged at about just over 200bn dollar. and at that time, we were growing almost 8% of over 200bn. just do the maths and you will know what we were adding every year.

So under buhari it's not rebased?

martineverest:
growth rate of USA is 3 percent while ivory coast is 7 percent....oya lemme hear Ur say

No please, don't jump from one argument by bringing another. That is not a very smart thing to do. You asserted that the low growth rate of Nigeria can be excuse for having bigger economic compare to the rest of their West Africa counterparts. Then i asked you to then justify why others with far bigger Economic are having better growth rate.

You didn't even attempt the second question. Let me repeat it. Has Nigeria GDP ever been greater despite having larger Economic?

By the way, USA is already attaining a saturated Economic.

grandstar:
What is even sadder is that it has been predicted that the yearly economic growth for the next 4 years will be 2.5%. This does not meet up with the population growth rate of 2.6% and that means the citizenry are getting poorer every year.

It also means, Nigerians are not productive or we are not producing economically!

thablogger:
For the GDP Growth rate for West Africa, Nigeria stands last on the list with a growth rate of 1.9%. Also, the highest on the list is Cote d'Ivoire with a growth rate of 7.4%.

See list

Source: https://www.musictori.com/2019/04/gdp-growth-rate-of-west-africa-nigeria.html

That's what you get when u hand over ur country to an illiterate herdsman to manage.

It’s because we don’t have red color in our flag that’s why they placed us at the bottom

Buhari is known for ill-luck anything he touches is plagued.

martineverest:
Ur IQ is very low...the growth rate of Singapore( a highly developed country) is low cos the economy has gotten to its potential,same with United States.....while day of China is high cos it has higher potential and haven't gotten to its full potential yet.

these were ur exact words

analogically, the growth rate of Switzerland, singapore ,Korea etc economics is expected to be higher than those of USA, Germany,Japan, china and india

Also i take nigeria which is the only west african country without stable electricity has reached its full economic potential. Meanwhile countries like bangladesh is growing at 7%

I repeat u are another unintelligent Apc apologist. We have many of u...so we are used to u guys

Iretii0511:


No please, don't jump from one argument by bringing another. That is not a very smart thing to do. You asserted that the low growth rate of Nigeria can be excuse for having bigger economic compare to the rest of their West Africa counterparts. Then i asked you to then justify why others with far bigger Economic are having better growth rate.

You didn't even attempt the second question. Let me repeat it. Has Nigeria GDP ever been greater despite having larger Economic?

By the way, USA is already attaining a saturated Economic.

the martineverest guy is annoyingly dull...he discredits himself with his own arguements.

martineverest:
the headline shows op is poor mathematically.....our economy is larger than the entire west African countries,do u expect it to grow higher than smaller economics?

analogically,the growth rate of Switzerland,singapore,Korea etc economics is expected to be higher than those of USA, Germany,Japan,china and india

if u do the mathematical calculations,the growth in dollars of Nigeria economy could be larger than the entire growth of those west African economics

You have a point but quote all the stats in the book, as long as your GDP growth rate is less than your population growth rate and the growth rate of countries in your income per capita group, then you're in sh*t.

Look mods, when I type 'sh*t, I need it spelt correctly. Stop that algorithm that changes it to shit.

martineverest:
growth rate of USA is 3 percent while ivory coast is 7 percent....oya lemme hear Ur say

Actually I love how you're trying to explain to them but forget it, they don't wanna learn from what you're saying cos their minds is all about Negatively

Ivory coast GDP growth with 7% will only add $3.5billion to their GDP while Nigeria GDP growth of 1.9% will add $8.5billion to our GDP. Many of those African countries with higher GDP growth might add $millions not even billions to their GDP.

Germany with low GDP growth than almost all African countries will add $trillions to their GDP growth

They can't take your point as long they love Negativity about their country, you can't satisfy people that are quick to embrace good news about their country over positivity!!

Alday:



You have a point but quote all the stats in the book, as long as your GDP growth rate is less than your population growth rate and the growth rate of countries in your income per capita group, then you're in sh*t.

Look mods, when I type 'sh*t, I need it spelt correctly. Stop that algorithm that changes it to shit.

You're the only one making sense with Martineverest

skallion7:
Actually I love how you're trying to explain to them but forget it, they don't wanna learn from what you're saying cos their minds is all about Negatively

Ivory coast GDP growth with 7% will only add $3.5billion to their GDP while Nigeria GDP growth of 1.9% will add $8.5billion to our GDP. Many of those African countries with higher GDP growth might add $millions not even billions to their GDP.

Germany with low GDP growth than almost all African countries will add $trillions to their GDP growth

They can't take your point as long they love Negativity about their country, you can't satisfy people that are quick to embrace good news about their country over positivity!!

US population growth rate is 1.6% (2017) compared to average GDP growth of 3%. Comparing it also with the GDP growth rate of other OECD countries which are obviously within the same range with the US, it's doing very fine.

Now look at the stats for Nigeria

Buhari thank you...

DonFreshmoney:
Imagine we are even 1.9%.. not even entered 2%. While the next country is 3.2%. When we were nearing 6% under goodluck jonathan. Buhari is a mess. Smelly mess

Buhari did not knock down Nigeria's GDP growth rate; Nigeria's overdependence on a single volatile product is what knocked down our GDP growth rate. Unfortunately, millions of Nigerians, including the most educated and enlightened are still ignorant of this fact; we only understand economics from the uninformed viewpoint of apc vs pdp politics.

Nigeria's GDP growth rate since 1999 has been directly proportional to oil price; oil price goes up, our GDP growth rate rises and vice versa. All the people saying Buhari is the reason our growth rate is 1.9 are obviously ignorant of the fact that from mid-2014 when oil prices began dropping, the so called 6% growth rate progressively started dropping too and was already at 2% by the before GEJ and PDP bailed out.

Sad

So why is the US economic growth higher than Germany, UK, France, Italy etc when the US economy is larger than the economy of all those countries combined?

And you don't even want me to talk about the Chinese economic growth either. Mind you, China has the second largest economy in the world after the US.

martineverest:
the headline shows op is poor mathematically.....our economy is larger than the entire west African countries,do u expect it to grow higher than smaller economics?

analogically,the growth rate of Switzerland,singapore,Korea etc economics is expected to be higher than those of USA, Germany,Japan,china and india

if u do the mathematical calculations,the growth in dollars of Nigeria economy could be larger than the entire growth of those west African economics

martineverest:
the headline shows op is poor mathematically.....our economy is larger than the entire west African countries,do u expect it to grow higher than smaller economics?

analogically,the growth rate of Switzerland,singapore,Korea etc economics is expected to be higher than those of USA, Germany,Japan,china and india

if u do the mathematical calculations,the growth in dollars of Nigeria economy could be larger than the entire growth of those west African economics

It's not the size of the economy that matters when it comes to growth but the per capita income.

Nigeria's per capita income of about $2,000 is still low and can easily grow by 8% on the average yearly for the next decade easily. It is when your per capita income is very high like $50,000, that a 3% growth rate will be very good.

China's economy with over 1billion people grew on the average at 9% yearly for about 2 decades.

India with over a billion people has been growing by 7% yearly.

Nigeria's growth has been lamentable due to some bad economic policies that Buhari implemented.

SexynSerious:
So why is the US economic growth higher than Germany, UK, France, Italy etc when the US economy is larger than the economy of all those countries combined?

And you don't even want me to talk about the Chinese economic growth either. Mind you, China has the second largest economy in the world after the US.

European economy is saturated.. American economy is saturated but has more potential than those of Europeans,while china is yet to be saturated and still has potential.....Japanese economy is super Saturated,thus the growth rate is just 0.5 percent

obailala:

Buhari did not knock down Nigeria's GDP growth rate; Nigeria's overdependence on a single volatile product is what knocked down our GDP growth rate. Unfortunately, millions of Nigerians, including the most educated and enlightened are still ignorant of this fact; we only understand economics from the uninformed viewpoint of apc vs pdp politics.

Nigeria's GDP growth rate since 1999 has been directly proportional to oil price; oil price goes up, our GDP growth rate rises and vice versa. All the people saying Buhari is the reason our growth rate is 1.9 are obviously ignorant of the fact that from mid-2014 when oil prices began dropping, the so called 6% growth rate progressively started dropping too and was already at 2% by the before GEJ and PDP bailed out.

It was not simply because the crude oil prices were high that Nigeria's economy was doibg much better than now. If the oil price today should touch $100, I doubt the growth rate will go beyond 4%.

What you have left out is that Buhari pegged the exchange rate upon assumption of office and this singular policy crippled the economy and caused a very severe recession that lasted 6 quarters. Nigerian economists such as Soludo, Sanusi and Utomi put the blame on him.

Presently, the country operates a multiple exchange policy which screams quacks are handling the economy. All these are Buhari's doing.

Yes, some growth was due to the high oil price but not all of it. It was primarily due to the fact that the pre-Buhari governments implemented pro market policies.

Liberia's economic growth of 3.2% is a big disappointment considering the former president was previously with the World Bank.

Contrast this with the over 7% in the Ivory Coast whose president was with the IMF.

I have always felt that ex IMF are better at managing economies as they are used to putting out economic fires.