If kenya merged it 45 banks to 18 banks like Nigeria did in 2010 or like South Africa's 4 - then we would have similarly have mega banks. Not that we don't have - some of the most profitable banks in Africa are in Kenya - Equity & KCB for one.
Nigeria merged banks is deluding you otherwise Kenya can ran so many circles around Nigeria in the financial and intermediation sectors - let not even talk about SACCOS where kenya led Africa or M-pesa (mobile payments). Or how do you think Kenya has grown without OIL or Diamond or Gold - like most African countries.
Obviously Kenyan banks are not collapsing and there is no need to merge them.
samsobo24: keep quiet,the project is funded by big Nigerian banks that are among the top ten in the continent.
What has happened to your dream city and that tiny konza not even worthy to compare with orange island lekki
Top in capitalization or Revenue or Profit or what...coz according to this reputable McKinsey report.Nigeria has 18 and Kenya 16 companies with revenues more than 500M usd? Where is the giant here - South Africa has 93 such companies - South Africa without any doubt is on another level.
If oil rally to more than 100 dollars a barrel - maybe Lagos and Nigeria can start dreaming again!
samsobo24: When Lagos generates its only electricity, it will start competing with Shanghai,NY,London,Moscow,Berlin etc. It will soon dwarf Johannesburg as CNBC africa has said
It depend on the data source - but I see consistently Joburg, Cairo, Capetown - then either Nairobi or Lagos - for the fourth position - and with nigeria recession and naira devaluation - I now see consistently Nairobi being on top - with latest data.
nwoke37: Off course Nairobi has lower class, middle class,and upper class, not my point.
Even when I factor population - I still have hard time accepting that GDP.I'd like it cross-referenced with say consumption and expenditure data from somewhere. It simply is mindle-boggling. All that GDP - and total taxes collected if you remove oil revenues - is nearly zero? How NOW? South Africa which theoritically accorind to Nigeria Stats Office has smaller GDP - has 120B usd federal budget - while Nigeria has 28B - less than kenya proposed 29B for 2018? How does that even make sense?
nwoke37: Yes Nigeria has a bigger gdp, it’s kinda obvious (200 million people!!) lots of oil being produced. Gdp isn’t even a very good measure of a country’s development. Look at gdp per capita and HDI, Nigeria could have the largest gdp and have the poorest citizens. India is a 2 trillion dollar economy yet its citizens a large percentage of them are poor. Their gdp figures are upheld by their huge population(2nd in the world)
There’s a big correlation between population and gdp..
South Africa has a higher gdp per capita than Nigeria. It’s people are ,statistically ,richer
You have problem with English comprehension. America flocking to Kenya is normal just as Kenyan companies will expand to inferior east africa countries. It going to be hard for kenyan company to invest and compete with South Africa. Now officially according to Nigeria stats office - you GDP is larger than South Africa - yet I don't see any FDI flowing out of Nigeria to rest of Africa - outside the banks and dangote? Or well you're sending fdi in terms of third rate movies and music
If you seriously believe your GDP is larger than EGypt or South Africa - then you're truly deluded.
nwoke37: The Fdi count is uncountable like urs. Most countries are. I listed a few on the top of my head
Why do American companies flock to Kenya if they have a bigger gdp. Guess America is cooking its fake gdp.
I don’t believe Nigeria’s gdp is fake. It kinda makes sense. It has the largest population in Africa by far, 7th largest population in the world... plus Nigeria has oil. I mean look at India, they have a huge gdp but the country’s gdp per capita is less than Nigeria’s
And Nigeria companies are all over the continent. Jumia is in Kenya and other countries in Africa . Our banks are all over the continent. Dangote cement factories are all over the continent.
Who told you Nairobi doesn't have larger lower - middle - and upper class. Kenya I think has more dollar millionaire than lagos. Last I checked Nariobi had 10,000 usd dollar millionaires..
If I am not wrong it's Joburg, Cairo, Capetown, Nairobi, Lagos and Luanda in that order..who has Africa richest.
nwoke37: I’d rather be a middle class Lagosian with money to buy the latest smartphone, afford a car, be able to travel. Be able to invest as well. I mean think about it. I’d rather be middle class in Somalia or any other poor country than to be poor and live in a nasty slum in Kenya.
Hope the slums get renovated. The ones in Lagos too
Give me realiable GWH and we can argue about that. Theoretically capacity of power producers is nothing to shout about. I want to know what get supplied every hour.
nwoke37: Ur figures are wrong.Nigeria transmits 5,000mw having 7,000mw available thus the 2,000mw shortfall
The house can be made of clay or tin - but average Nairobi slum house - has 1) 24hrs of electricity 2) 24hrs of water 3) TV & even internet 4) sofa sets and are few minutes to CBD - they generally led better than life than average lagosians - who have to ran a generator a few hours a day and drink borehole water. And there is ongoing slum upgrading.
nwoke37: Really doubt that.Average (middle class)lagosians if electricity is non frquent and water supply is sporadic have the purchasing power to buy generators and build boreholes. They live in better houses as well. C’mon why are you comparing the poor to middle class. Now maybe if you compare the poor of Lagos and Nairobi you might have a point.
I’ve watched documentaries on Kibera, it’s nothing to write home about. Some of the houses were made of clay.. I was crying...
South African companies flocking to Nigeria and yet officially you have bigger GDP than them. You don't see the irony there. In kenya they came and found the competition too stiff for them and bailed out for Nigeria. Okay the FDI investment that I see listed there is countable - for a country or city like Lagos that is a pity. Nearly all those companies are in kenya and have been there some for decades.Kenya and Nairobi - the FDI source for east africa countries - and Nigeria if indeed they were 500B GDP would be all over Africa - like South Africa with 300B GDP. See you GDP is fake.
As for Nairobi - it competing with Joburg for HQ of multinational interested in Africa.
nwoke37: Lots of foreign investors come to Nigeria. Just look how South African companies were flooding to come to Nigeria. Nissan,Kellogg’s,Porche, SAB Miller, Nestle, Unilever, La Farge, Samsung and many more are in Nigeria. Recently Microsoft opened a customer care location. Mark Zuckerburg invested 24 million dollars in Andela(local tech company). Nigeria received the highest foreign investment in the tech sector in Africa in 2017 with Kenya and South Africa close behind. Mind you, Lagos’ economy doesn’t revolve around oil in no way- yet investors from all around the world are flocking to Lagos.i don’t understand how Lagos can be dead if it’s just starting to realize it’s potenial. There are lots of multinational companies in Nigeria even before Kenya started getting the spotlight Have you heard of Jumia(first tech billion dollar startup company in Africa)?It was founded in Nigeria..
Nigeria is a huge consumer market, largest in Africa. Naturally companies will be tripping over themselves to get a share of this market. When u talk about consumer goods, Nigeria’s the place to be...
And most of the projects we’re talking about are not funded by the government but by private investors with deep pockets who see the potential of Nigeria and investing rightly so. Even the Lekki deep sea port was initiated by private investors. Eko Atlantic has nothing to do with Government.Private Companies are funding these projects. Hence these projects are more likely to succeed because the government doesn’t have a hand in it. The projects are purely profit driven.
Angola had major issues with corruption related with oil. I mean just look at the richest female there and you’ll understand.
There is nothing to hate here - just pity. One skyscrapper every decade.
samsobo24: This guy isn't worth discussing with. Imagine him ranting about the eko Atlantic. He is ignorant and pained about how gigantic the project is and the recognition it has received globally.
The water system for the city is now working The Energy Estate for the city now produces electricity
There is big difference btw Lagos or Nigeria slums with say kenya/Nairobi slums. Nairobi slums - people have regular supply of power - water - internet - TVs- and emerge out of it mostly smartly dressed. They are just slums because the land is owned by gov and people cannot invest in building anything but iron sheet sharks. Nigeria slum cities is something else..
And slums ocuppy 5% of Nairobi land - the other 95% is okay.
FACT:Nairobi people living in slums generally lead better qualify of life than average Lagosian
nwoke37: What happened to Kibera in Nairobi(one of the biggest slums in Africa).
Lagos has makoko.. slums are a natural phase worldwide when it comes to growing/ developing cities.
New York wasn’t as glamorous as it is today. People lived in horrific conditions with shabbily constructed tenements ...makes one cry(if you see the pictures).
London was a place of filth in its earlier days.
Urban renewal programs were essential in removing these slums along with massive investments in social housing...
The faster Lagos and Nairobi act on removing these slums, the better the image for these future global cities...
The same way GDP is not "eaten" - having say 10,000 MW of power while the real GWH - gigawatts hours that power is actually available is less than 2,000MWS - is the fallacy that is Nigeria. Now the talk is to add 3,000MW to Lagos - how will that help - when nobody pays for power - the power companies go bankrupt - the power producers turn off the turbines & generators - and people grow thinking regular supply of electricity is something to be dream about. Kenya has about 2,500mw of power - and nearly the whole country is on stable 24hrs power supply -the GWH is impressive.
Plans are just that. GDP is not "eaten". First plan to collect some taxes and you may have the muscle to execute those plans. How can Nigeria ran on 28B usd budget? and Lagos with 3B?Nigeria GDP don't make sense to me or anybody else. I understand South Africa & Egypt GDP - those are solid gdp figures backed by empirical data. Whatever Nigeria stats office cooks as GDP- is pure VOODOO!!! Nobody believe its - not Nigeria - not foreign investors - you don't see them flocking to Nigeria like they do to Kenya & Nairobi - they just come for Nigeria oil and nothing more.
Again speaks about now...and if you must go to the future..talk about stuff that are on ground...under construction. Otherwise 20 yrs ago Nigeria talked big about Eko City - and now it just one lonely skyscrapper.
Ethiopia - with Addis & Tanzania - with Dar - are definitely growing and will provide competition to Kenya & Nairobi. That I can't deny. But Kinshasa, Kampala, Lagos are dead as dodo.
Angola & Luanda can teach Nigeria how to use Oil money. Such a shame that country as barren as kenya with zero minerals can beat a giant like Nigeria.
nwoke37: They’re already plans for buildings taller than that in eko Atlantic and centenary city U realize with Lagos having a bigger economy than ur country, there’s far more potential in Lagos than Nairobi(although I see Nairobi as a future hub). Lagos will catch up. Eko Atlantic alone(apart from the other cities in construction in Lagos) will house more than 1000 scrapers. As u saw eko Atlantic is virtually empty, let’s wait till Eko Atlantic grows(next 10 yrs). In 2030, Nigeria’s economy is expected to exceed 1 trillion. Kenyan and Nigerian comparisons wouldn’t make sense then(that’s if we solve some of our issues)
With the growth of Ethiopia, it poses some strong competition to Kenya in the future...
Listen to the video before you post. He announced a plan to start a cement factory but ran away after Kenya refused to grant him concessions. Kenya cement industry is very competitive. He is still mulling how to enter....there is nothing Dangote owns in kenya.
Nairobi skyscrappers under development or those approved - are straggering. Don't even think Eko City or Lagos has any chance of getting to Nairobi. If already Nairobi has more skyscrappers - wait for another 5yrs - when we will have more than double that. Nairobi is destined to challenge Joburg and Cairo..for big city. Not mega slum metropolis like Lagos or Kinshasa.
Nairobi is building 70 floor 300m plus skyscraper that will be Africa tallest building by FAR. And that is not all...
nwoke37: If you look closely that one skyscraper is actually 2 skyscrapers with a pool right next to them. The plan is to build 3 more there.the name of the project is eko pearl. In the background there’s 3 residential buildings currently standing and yet to be finished in the eko energy estate.
This isn’t in the picture but the left of eko pearl is another tower called afren tower fully built... it was the first tower in eko Atlantic
This also isn’t in the picture but just to the bottom of the eko pearl project is the azuri peninsula project in the marina district. Currently 3 towers are up and under construction 26 floors each
With the downturn of the economy in 2015/2016/2017 projects that were expected to be done have been stalled. But since the economy picked up since the later half of last yr we should expect more projects to come aboard and start construction
But as u can see the infrastructure is well laid and is still expanding with quality roads, street lighting, underground fiber optic network, 24/7 power, as well as piped water, and top notch underground sewage and drainage network.(Notice how everything will be underground;we won’t have to see ugly power masts with lines/cables above ground. )The typical Nigeria we know of today won’t be present in this city(and other cities under construction). They haven’t finished the reclaiming of land. So expect more land. I don’t even think the land is halfway to what will be there. The water canal is still being worked on and expect water in that circle in the marina district
Keep in mind that this is a private development. The federal government or Lagos government barely has a say or hand in this. Whatever happens is at the whim of private investors
We are talking dollars..not NAIRA. First you're what - 30yrs behid kenya - in freely floating NAIRA - and buying dollars or forex in Nigeria is such a hassle - with black market and all that. In fact if I use the real exchange rate as opposed to official - then you guys will be worse off.
What is LAGOS budget? If federal budget is 28B USD against Kenya 29B USD - trust me if I tell you Lagos budget is probably what? 3B USD - that is not enough to pay teachers salaries I bet.
Dangote has done well but he is nothing in kenya - he has business in Kenya. Of course it's impressive what he has done - and that probably the only shinning light in Nigeria.
Another project that will shock many African countries is the Lekki free trade zone This will house one of the largest refinery's in the world, largest fertilizer plant in Africa. All in the city of lekki
Aliko Dangote will soon buy the whole of your country
What is that in 2018? Like seriously .Nigeria has to wake up - pay and collect taxes. I mean the 28B is mostly from oil taxes - and has to be shared by 36 states!! The more I probe - the more I am shocked. Please take Bill Gates advice seriously - pay taxes - and we may kick polio out - let's not even worry about other stuff for now - LEKKI deep sea port of 1.5BB grin grin grin - what hell is that?
If you GDP is 400-500B - what is 1B dollars - I mean kenya has about 75-80B USD GDP - budget now nearly 30B per annum - and nobody talks about 1B usd! That is pocket change. Kenyatta family alone are planning 50B USD city on their private land.
samsobo24: What do you gain from insincerity, the deep sea port is around 1.3 to 1.6 bln
What joke is this - Lekki deep sea port - that you're parroting is mere 500M usd project - I guess when whole budget for the giant is mere 28B USD that is a lot of money. PLEASE SHOW US MEGA PROJECT OF SAY 200B USD - that would really shows how ambitious Nigeria can be? I mean Kenya don't even shout about 500m usd project. That is pocket change.Mombasa port expansion - adding 3 berths - more than 1B dollars has already been spent. http://businessandmaritimewestafrica.com/maritime-development/npa-pays-23m-equity-funding-in-lekki-deep-seaport-project
Nigeria has to wake up - pay and collect taxes. I mean the 28B is mostly from oil taxes - and has to be shared by 36 states!! The more I probe - the more I am shocked.
Please take Bill Gates advice seriously - pay taxes - and we may kick polio out - let's not even worry about other stuff for now - LEKKI deep sea port of 1.5BB - what hell is that?
You really got jokes. Quick search on the first -Lekki deep sea port - $1.5 billion committed. Are you kidding us? I mean we are talking 25B USD for LAPPSET in Kenya with LAMU port? We are talking 10B USD for Kenya part of SGR - with already nearly 5B USD committed and spent. We are talking about NorthLands City in Nairobi - with 50B USD set to be spent. And we have tonnes more of those planned or under construction..including Tatu City/Konza City within Nairobi..and thousands others.
Eko City has 1 or 2 towers - more than 10 yrs later.
samsobo24: . Tall structure in just one part makes the whole of your capital developed, iam laughing at your so called Nairobi.
We don't just build any how, that's why Lagos has the highest no of planned communities in Africa
See this one talking about height when eko Atlantic will have 1,200 high rise buildings,more than the whole of your country.
Pls show me any of your project in the whole of East Africa that is as capital intensive as this
Lekki Deep sea port Imperial international business city Lekki smart city Eko Atlantic city etc
Let me stop here so that Lagos won't create tension here. This is another high rise project going on in Lagos island
Nice dream - Kenya has tonnes of those already completed or under construction- but this one piqued my interest -Ensuring of water metering in Lagos so what is happening now.
You see Lagos can compete with Kinshasasa in DRC Congo..both are 10M plus mega slums..but Nairobi is on another level...and can start dreaming of comparing to Joburg. Give Nairobi 10yrs - and Joburg will start struggling to compete.
samsobo24: Manage these for now CITIES eko atlantic city Lekki smart city project imperial international business city lekki Grace field phoenix lekki Diamond island lekki Lagos island regeneration
You thought I was joking when I said that lekki alone has more hyper projects than the whole of your country
World class stadiums What of the world class Ikeja bus terminal plus more under construction What of the opening of inner roads in local communities Have you seen Lagos state Emergency unit and security infrastructure.
Lekki free trade Zone (largest in west Afrrica) Badagry deep sea port Lekki international Airport 4th Mainland Bridge Lagos Light rail Project Lagos Water transport with marine police Construction of the Largest single refinery in Africa and not Only Africa. Independent power project (3,000mw) Plans and innovative projects to further make Lagos the smartest city in Africa: Distribution of E-waste bin and compactors Replacement of Danfo buses with World class air condition buses. Introducing more free WIFI services in BRT buses and parks. Decoration of more bridges and bus stops Introduction of more bus terminals Mechanised sweeping of Major roads Emergency Helipad service World class smart security vehicles Swift Emergency service and disaster management. Ensuring of water metering in Lagos
More: World class Oshodi transport interchange Creating more BRT lanes and decongestion of Lagos traffic More Health care service delivery with primary health centres scattered across the local governments of the state.Try to checkout for world class equipments of General hospitals in Lagos
Have you seen the Lagos state DNA and forensic laboratory.
There many projects I am even oblivious about that I know some would know.
Are all these under construction or completed or planned. Let start from there. And please omit the e-library one . Quick google search - they are planned. Okay please I can bore you to death with kenyan planned projects - at even more advanced stage - but let keep this - to things that actually exists.
samsobo24: This is a small state in Nigeria,if I mention lagos,you fall into confusion
ibom deep seaport International stadium akwa ibom specialist hospital(one of the best in Africa,if not the best) syringe manufacturing company and largest in Africa Akwa ibom e library
Precisely. It just about false hope of the future planned visions - which are actually mirages. Nigeria and DRC CONGO are siblings. Kinshasa and Lagos are twin brothers. The potential is huge. The amount of minerals they've got is staggering. But you got mega cities of slums. And the same hopelessness year in year out....
Around 2010- 2015 - I thought Nigeria had turned the corner - alas! only to discover it was the oil prices that had skyrocketed and now everything is back to normal - GDP growth of 1% or -1%.
sufferNsmiling: 85 percent off projects in nigeria have no completion, fooling ourselves suffering and smiling that is how we nigerians are. even in the year 2100 EKO city will not be completed. We Nigerians are now sending are children to other african countries to do prostitution and them fooling are selves thats where the best blacks.
See giant giant giant Lagos
Two Nigerian cities has been named among the world’s worst cities to live in 2018.
Mercer’s 20th annual Quality of Living survey compared 231 major metropolises, examining factors such as crime, healthcare, education, public services, recreation, housing and personal freedom.
According to this years ranking, Bangui, Central African Republic (230) been the lowest ranking African city for quality of living is the worst city to live in Africa. followed by Khartoum, sudan (227), N’Djamena Chad (226), Brazzaville Congo (224) and Kinshasa Democratic Republic of the Congo (223).
Persistent political instability, poverty, extreme climates and lack of appropriate infrastructure investments means the cities above have the lowest quality of living worldwide.
Two Nigeria cities Abuja (213) and Lagos (212) Also made it into the top 20 worst cities to live in Africa.
Abuja, Nigeria’s Federal Capital was ranked 213 out of 231 countries making it the 13th worst city to live in Africa, while Lagos was ranked 212, making it the 14th worst city to live in Africa..
Below are The top 15 worst cities to live in Africa 2018. From least worst (15) to worst (1)
My friend - you're not only BIG - but you also have oil. You control nearly 3% of GLOBAL WORLD OIL. You know what that means. That mean you should be far ahead of anyone in Africa. It really shamefully that Kenya that is mostly a desert (1/3 of it is arable) and has nearly zero minerals can not only be compared with you but also beat Nigeria in most things..where quality not just scale or quantity is concerned.
Right now if the debate what to shift to what is actually on the ground - not planned [ those plans depend on oil price ] - then it obviously that kenya punches way above it's weight.
And yet again we have no oil, no diamond, no gold, no mineral to talk about - with 2/3 of a country semi-arid- just pure hard work and ingenuity. There is a lot kenya can teach Nigeria.Nigeria can probably teach kenya what - maybe cement (dangote is impressive), banking (merging of banks?) and nollywood - and maybe football- that is it.
nwoke37: There’s currently 9 scrapers in Eko Atlantic. Some finished, some in construction. And more are coming. Centenary city started 2014/2015... so no comparison to eko Atlantic.
U forget the three other deep seaports coming up across the country... Badagry deep seaport, Bakassi deep sea port, and Ibaka deep seaport.
I don’t know why I’m comparing Nigeria to Kenya. Just look at Kenya’s gdp per capita. Yes, Kenya has made some nice progress (kenya is ahead of Nigeria in some affairs)and I wish more for this country. But ultimately Nigeria’s too big to compare at least in the long run.
Currently we’re facing issues, but you must realize once Nigeria gets its governance issues settled... this comparison would have no tangible base
Lekki deep sea port -- yeah long overdue - considering for the "giant" - our Mombasa port [The fourth busiest port in Africa] throughput is equal to all current Nigeria ports combined. And in Kenya we are building another port - deep sea port in LAMU - which combined with roads and ralways is 25B USD plus investments.As for Cententary city - that is DEAD ON ARRIVAL. At least EKO city 10 yrs later is desolate lonely place with one skyscrapper - but the Abuja centenary was dead ab initio.
Quick comparison of LAMU deep sea port and Lekki deep sea port - LAMU will have depth of 18meters - Lekki have seen 16.5-19m - and 3 berths of LAMU are nearly ready.
As we speak of now - leave alone Nigeria ambitious dream that never turn true - the biggest ports in Africa are Port Said (Egypt) Tanger Med (Morocco) Durban (South Africa) Alexandria (Egypt) Mombasa(Kenya).
There is no giant there with fictious GDP of 500B
nwoke37: Don’t mind the guy, we’re building the biggest and deepest seaports in Africa, and some of the most advanced cities in the world. I mean the developer who developed the Dubai downtown, who built the tallest skyscraper in the world is developing centenary city in Abuja...
The guy is acting like all the projects will be on skyscrapercity...
Don't try to personalize. This is about Lagos and Nigeria - in comparion with - Nairobi and Kenya. Which projects in Lekki?
samsobo24: Pls rvp or what,don't start what you can't finish,if I start with you,you will not be able to handle this Pls leave me alone,I pray you won't be hooked by my fellow brothers
Lagos the big brother,the projects in lekki alone is bigger than the whole of your country