₦airaland Forum

And Egypt fundamentals are stronger in the short & Medium term.
And I know you think it's ANC that has caused this drop...
But ANC grew GDP from 140 to 410B btw 1994 to 2010 - quite impressive - near trippling in 15yrs.
Then South Africa hit the proverbial middle class trap.
Now you economy has serious structural and systemic bottlenecks that are not easy to resolve.
You guys need to study the Middle class trap of Latin America...you're right there.

https://www.cfr.org/blog/politics-latin-americas-middle-income-trap#:~:text=Many%20of%20Latin%20America's%20largest,economies%20in%20the%20near%20term.
Many of Latin America's largest economies are stuck in the so-called “middle-income trap,” with slowing productivity growth making it unlikely that they will catch up to the top global economies in the near term.16 May 2017

jl115:
Ok and? this is short term forecasts..........

You dont make sense as always. More supply of housing would see drop in prices. Simple economic 101. The high prices indicate shortage of quality housing/accommodation/name it.

Just30:
Wow

Equatorial Guinea state oil company CEO has packed over 3 billion dollars of his country resources into Accra real estate..


No wonder real estate is so expensive here....

People are actually paying over 10,000 dollars a month in Cantonment, eii!!

@Vankelvin

Accra has become that silent tax haven where a significant chunk or West Africa wealth is being parked.

I watched some documentary - it hell hole - and yet it's incredibly blessed with onshore oil. Those are true bonobos.

GeneralDae:
That Equatorial Guinea is something else. A country of not more than 3 million people and amongst the top oil producing nations in Africa with one of the highest GDP per capita, yet no real infrastructure and majority live in poverty. We have a father and his son as President and Vice President and they both live like kings in the U.S. Most of their resources go to foreign countries and to the pockets of the ruling families, yet no African country seem to be concerned about this not even the AU. SMH.

You sound angry. Can you help us interpret this table.

theenchanter:
nobody said Nigeria has a better agricultural sector than Brazil..... Stop replaying the nonsense ur filthy brain is pouring out.

I have no problem with you I just don't believe the stats from Nigeria's Stat office. They are just implausible. It just crazy to come up with stats that says Nigeria has better agri sector than US or Brazil.

theenchanter:
oga, I'm done with u.

Ciao.

I tell you Agriculture powered by Voodoo! The hidden gem of West Africa. Bonoboism.

samorobo:
You are right we will beat china and India if we focus and grow the agro sector in about a decade. Already US,and Brazil have seen dust. so much potentials here man.

Nothing is confusing in this image. I sorted by the value of agricluture. Nigeria stick out like sore thumb. Other countries are well known food exporters. We in Kenya know Pakistani from their rice. We eat a lot of their rice.

Nobody has seen a ship from Nigeria exporting any food

theenchanter:
keep confusing urself, I won't join u in the pool of ur confusion cos it's obvious u're confused.

Imagine when you final diversity your oil powered economy and revive agriculture - improving productivity by factor of 5 - you beat China and India despite being only 10 percent of their landmass

Pure magic. Vodoo! In kenya we respect the power of witchcraft from Igboland

Below can only be as result of witchcraft.

samorobo:
Yes .see for yourself.

Almajiri graduate.

21% - staggering 236B dollars worth of agricluture in purchasing power parity - more than US and Brazil. That is what should shock you.

When it come to nominal gdp - 21 percent - translate to 100B dollars. This also place it on top of Brazil.

Now tell us what magic you use to convert your hoe powered agriculture in world top food importer to generate such kind of stastics.

OVERCOOKED. You put a fork on it already.

theenchanter:
chaiii...... Why are u convulsing?

So, ur table showed Nigeria having 21% but u still manipulated urself that Nigeria had 40% agriculture and $200b u mean u don't believe the table u posted again.

Chaiiii.......

The amount of codein they consume in West Africa is staggering. These MOFOs are always high. You wonder how their entire statistic fratenity not get shocked when they come up with estimates like this? Seriously

kikuyu1:
After all this time this ishyt is still funny! Brazil level agriculture and these mofos don't even have a diary sector!?

Almajiri graduate at his best.
1) Understand Agriculture as sector/economic activity and as industry.
2) Agriculture that is 21 percent of Nigeria - ISIC agriculture activities - farming, fishing, forestry. Then you have sectors like finances, real estates
3) Now we also have 3 industries - Agriculture, Services and Industry. The agricluture now include agro-processing and all related activites with linkages to it. Services would mean banking, real estate, tourism, etc. The 20 ISIC sectors collapsed into 3 broad categories of Agri, Industry and Services.

4) We are talking BILLIONS not million

Now
1) Nigeria GDP at 480B - it's agricluture (ISIC) is 96B dollars.
2) Nigeria Agriculture as Industry - is probably 40 percent (using Kenya rate) - so about 200B dollars.
3) The table I gave you had figures in PPP - Nigeria has 236B dollars.

theenchanter:
u're a just a microcosm of Kenyans here and I hope it doesn't translate to all d good people of Kenya.

Nigeria had 21% Agric to GDP but got $236m from it.
Brazil had only 6% Agric to GDP but got $214m from it..... Which is bigger between the two?

Simple Mathematics for u this new year.

Look at the value column - almajiri graduate

theenchanter:
as expected .

That's the percentage Agric sector contributes to the GDP. Our Agric sector may contribute a higher percentage to our GDP but may not be bigger than others since services is the largest contributor to developed nations GDP.

I don't expect lil things like this to be a resident in ur numbskull.

Rabat is small city of 0.5M people. Nairobi is modern city of 4M plus 7m in the Metro. Nairobi looks okay to me

samorobo:
Lol you are one olodo,noise making miscreant.
Let me play your game. You said our gdp is cooked just cos our cities can’t compete with SA cities and our Gdp’s are quite close(this goes to show you know nothing about gdp and annual economic output). The gdp of Morocco and Kenya is quite close(a smaller gap than Nigeria and SA) ,can you be kind enough to tell me why no Nairobi can’t compete with even thier fifth tier city.

Casablanca

https://www.youtube.com/watch?v=FssA43a3cvk
https://www.youtube.com/watch?v=S9Q1w2-1rh4

Marrakech

https://www.youtube.com/watch?v=OsnRSr7LxII

Rabat

https://www.youtube.com/watch?v=8riACrrWVi8

https://www.youtube.com/watch?v=AhIb-0SyaKY


Tangiers


https://www.youtube.com/watch?v=GCmk3jUAotA


https://www.youtube.com/watch?v=uMOaix3tkCk

You like arguing from point of ignorance....this is South Africa Treasury making projections

Last decade - almost 0 to 1 percent growth.
2019 -0.9%
2020 - contracted 6.4%
2021 - Will be 5.1% - not fully recovered to 2019
2022 - 1.8 - will fully recover back pre-covid levels.
2023 - 1.6
2024 - 1.7

Conclusion - gdp will be stuck at 300-400B (depending on the USD-Rand) - gdp per capita stuck - hardly above the 1.3 percent population growth rate.

The treasury projected real economic growth of 5.1% for 2021 — coming off a low base after contracting by 6.4% in 2020 — and 1.8% in 2022, compared with 2021 February budget review estimates of 3.3% and 2.2% respectively. Real GDP growth is expected to moderate to 1.6% in 2023 before ticking up to 1.7% in 2024
https://mg.co.za/business/2021-11-11-medium-term-budget-economic-growth-prospects-remain-bleak/

This world bank

The World Bank has cut South Africa’s growth forecast for 2019 through to 2021, citing weak investor sentiment and lingering policy uncertainty. Growth for 2019 is now projected at 0.8%, half a percentage point lower than April’s forecast and unchanged from 2018, according to the bank’s October Africa’s Pulse report.

Growth is expected to hit 1% in 2020, 0.7 percentage points lower than the previous forecast, and 1.3% in 2021, again half a percentage point lower than prior estimates.

jl115:
with the current political climate I highly doubt that

Also what better "fundamentals"..... do you even think before typing?

Yes smuggling has gone down - at least Benin as dropped from being world biggest importer of rice - you can imagine tiny country of 10M people importing so much rice.
http://www.thairiceexporters.or.th/export%20by%20country%202021.html

Now explain to me how much rice do you eat? It seems to be a lot - assuming there is any serious local production.

Something is off in your rice consumption per capita.

CSTRR:
Nigeria has blocked the borders to ensure local producers of rice get a fair deal in the local market.

Even till now, our borders are still locked to check smuggling.

Smuggling is not a govt sanctioned activity.

But then the local production it seems cannot even satisfy the local market.

Rice is a staple food eaten by 200 million people.

That is humongous.

You're only 4 times more populated than Kenya - with twice the land size - and mostly arable. That tell you in kenya we live in more densely populated areas - with about 2/3 of the country sparely populated.

Keep in agricluture. How can you explain Nigeria being top here?

What is the trick?

How did you do it? I mean people go to Brazil for lesson on tropical farming - you're like an hidden gem of success of agriclutural revolution


I wish this was true

CSTRR:
Well, China and India have GDPs in Trillions of dollars.

They have much higher resources than Nigeria and even then they import loads of food.

So relatively, it's the same kind of problem.

We can do much better of course.

But sorry, Kenya will never understand what it means to be a highly populated country.

It's a much different reality from the fantasy dreamlands of tiny sparse countries of East Africa living a kumbaya existence and with no real potential.

Your rice stats like everything remain cooked until you stop smuggling tonnes of rice from Thailand, India, Veitnam and such via Cameroon and Benin.

CSTRR:
https://www.premiumtimesng.com/news/more-news/500267-imota-rice-mill-to-start-production-2022-sanwo-olu.html

The largest rice mill in Africa.

200M is not a lot of people. China and India each at 1.5B people - are just slighly above you in agri-sector. Food generally is cheap - that is why even though USA is agri giant - it's 2 percent of the sector. It has little value.

Just type top 10 countries in agricluture in the world.

Nigeria will show up.

WHy cannot you not be proud of this? Why do you want to copy Kenya

Because you and everyone knows that your statistics ARE BURE BS.

CSTRR:
Clown.

Due to recent policies, Nigeria is now the largest producer of rice in Africa.

Lagos State government is set to commission the largest rice Mill in the entire africa early this year.

Our population is beyond what a Kenya can imagine.
The people will need food.

Even our humongous production cannot satisfy such a market.

Check your GDP breakdown. You 480B dollars - agriculture ( as sector) is 20-25 percent - that makes it more than 100B - and as industry it double that - 40 percent of GDP. It's bigger than giants like Brazil

I think it's world top 5 agricultural giant ; bigger than huge countries like Canada, Brazil, Australia and Russia - who practise world class agricluture to booth.

CSTRR:
You must be living in a fantasy of your own making.

Silly Kenyan with a GDP less than Lagos.

You think you can beat Lagos by selling tea and flowers.?

Lol.

That is what Nigeria is telling everyone. Bigger than Brazil. Bigger than US. Almost equal to all the 28 EU nations plus Britain. All the food is eaten within Nigeria. Nobody has ever seen any ship exporting food. They also are world biggest importers of food.

You can imagine their appetite for all things food

Kazikazi:
Son,I don't understand since am illiterate

Do u wanna say Naija has big agri sector than Brazil and mexico? Are u sure these stats are coming from naija gov?

Mostly in OIL & GAS sector - that is just only FDI you'll see and it's only functional part of your economy. Fintech maybe - and Tech companies throwing money to Africa now.

GeneralDae:
But from 2007-2019, Nigeria had the second largest influx of FDI just behind Egypt.

Nobody is deceived except Nigeria. Otherwise you would see FDI flowing to Nigeria. Nobody believe Africa statistics like those. They do their maths. Those that believe Nigeria should ask VW - they sold only 32 cars in a year

They go to Egypt and South Africa - and they see a developing country - and they visit, invest and want to live in such a country.

Kenya has 10-15yrs to reach there - but they can see the promise .

Deceive yourself with giant stories of Africa - nobody outside Nigeria will take such figures seriously - unless they are also foolish.

GeneralDae:
This would mean Nigeria is deceiving the world and you are way smarter than all world organisations that have accepted this data.

IMF and WB DO NOT - I repeat DO NOT - estimate the GDP of a country. It's country statistics office who do that job. IMF or WB can offer technical assistances or disclaimers but it's general country politician to count and inflate the figures - if they want to.

CSTRR:
Clown.
Nigeria does not own the world Bank or IMF.
If it was a lie, they would have said so long ago.

Infact Many of Nigeria's production are not even formal.
It's in the informal sector which cannot be estimated and added to current GDP.

Nigerian GDP is even too poor for the potential it has.

Wait till Nigeria gets a decent govt.

When I saw the pictures - I was doubting it big - now I see. Good start.

Shma:
Mombasa shipyard.

Real development should match GDP figures. GDP should explain the development. Not the other way round. That development should be visible to the naked eye. If you go to a developed country or see a video - you dont need GDP figures to know it's developed - you will see it on the streets - right from the airport - to the roads - to buildings - to the cars - to the people - the enviroment - you'll know this country is doing great. You will see well tendered farms - with healthy looking animals and crops. You will see thriving industries. You will see great hotels and resorts.

South Africa figures are solid. Egypt figures are solid. Nigeria is horse manure.

Kazikazi:
Yah I see.
Common man on a street won't understand u since what they really want to see is your level of developments to match with what is written on paper. I think that's the reason why SA and Egypt get more respect in Africa than anyone else

What hell is 5000 dollars support to 1000 business. This is just typical Nigerian grandiosness (sp). Why not concentrate that little money on his village poverty.

CSTRR:

https://www.youtube.com/watch?v=lE2Tt-TfhJI

Tony elumelu foundation giving $5000 to 1000 African entrepreneurs selected all across the entire 54 African countries, including kenya every year.

It's the biggest and most comprehensive entrepreneurship scheme on the African continent.

The 2022 session is set to open soon.

https://www.tonyelumelufoundation.org/

Tony elumelu owns the United Bank for Africa and Heirs holdings, both headquartered in Nigeria.

Big brother with a big GDP.

Cooking GDP requires some brains....Nigeria claim to have big agricluture than these countries. TOTALLY CRAP. Agricluture as sector is 100B plus and as industry is 250B

Nigeria a society of fraudsters - their gov is fraud - their citizen are fraudsters.

How on earth can you claim to have bigger agricluture than Brazil or US or very close to the ENTIRE EUROPE?

All powered by hoes - cassava, millet, yams and plantain -

What do you mean. According to your Nigerian Statistics your agricluture is top 5 in the world. It beats Brazil, Indonesia, Thailand, Netherlands, Russia name them- and is just below US, India, China

You already boast of 100B dollar agriclutural sector

Cooking statistics requires some brains.

CSTRR:
To be fair, I like the way Kenya has been able to master agriculture and diversify its agricultural exports.

It's an agricultural powerhouse and have utilized their agricultural lands far more productively than Nigeria.

Nigeria has a lot to learn from Kenya in that area.

Yes Nigeria GDP is totally overcooked and doesnt make sense. Ethiopia if they sort out their petty squabbles have stronger fundamentals than Angola. Angola remain a primitive oil economy. It's a Nigeria.

Kazikazi:
Egypt is doing well currently. And what I like most is how they are very honest with their figures.They have a GDP growth which relates with what is in ground unlike some folks who doctored a big GDP while on ground u see a shithole.Others can have a big GDP but still starving.

But Angola won't be above Ethiopia. 20% currency appreciation won't be enough to overtake Ethiopians. And I doubt if the oil prices will be stable in a near future

True..but this time for good...they have sorted their structural issues...they have more people at 100M and have better fundamentals.
South Africa will remain at 350-400B - middle class trap - in the medium term.

jl115:
Egypt has overtaken SA on numerous occasions....

Looking at 2022 - Ethiopia birr has collapsed (lost 1/4 of it's value) so nominal gdp will be down by 1/4 - Angola kwacha has appreciated by 20 percent - so will swap places with Ethiopia. Ethiopia civil war plus COVID-19 has taken them back - and unless resolved quickly - they will be down for sometime.

In medium term - Egypt will overtake South Africa - and Kenya to overtake Morroco.

https://www.icirnigeria.org/icirup/2021/12/Top-10-African-Economy-by-GDP-in-2021.1-696x391.png

This year try to elevate your arguments above the banality. You remind me of eating an overnight ugali..however much you try to warm it...it will never taste anywhere near it's original self.

samorobo:
For the fact that your figure wasn’t represented automatically makes you irrelevant and part of the “ rest of Africa “.