₦airaland Forum

Ghana is a great country. Just like Kenya. Always up there. This is country that has mostly gotten it right from the days of Nkrumunah. If there was I country I could compare to Kenya - then it got to be Ghana. Ghanian are progressive people like Kenyans. But Nigeria - is the scum of earth.

Just30:
first of all
He wasn't president when he went to Nigeria
He went to see his friend
The other time , it was your stupid governor who built a statue of him.
Second issue , you don't supply electricity to Ghana so shut up. Your country can't even supply Abuja with electricity let alone Ghana.
Thirdly when it comes to debt for gas
That's how the gas offtake and supply market is .
Do you want to drink your gas ?
You don't even have countries to supply to anymore
You should be thankful we feed your economy 1B dollars every year in gas payment.
The US gas production is up so they're not importing like before.
If your country joke , we will dump their gas and go for gas from equatorial Guinea

It a rather lame argument for supposedly better developed country - nigeria - to claims purchasing power parity. It's ironic. If things are more expensive in kenya - then it probably because they are higher quality.

PhilipGallagher:
Things are a bit expensive in kenya though. A bottle of soda goes for 80ksh which is like 270NGN. I don't advise people to do direct conversion when buying things, else you no go just buy anything. Kenya is developing though and there are few things both countries (naija and kenya) can learn from each other.

Ohoo please give us latest cement consumption of Nigeria. And again not the usual cooked Nigeria data. Preferably from someone like Lafrage...not Mr Dangote.

obaaderemi:
Your boy asked us to use cement consumption and yours per capita is way lower than ours. Come on, we've been here before. The fact is you should stop accusing others of cooking figures when you are the Chief Cook.

WB or IMF do not measure GDP - it every country - which is why many countries in the past have cooked or over-cooked it. USSR over-cooked it for many years but eventually it collapsed under it's weight - and split into many countries. Nigeria is going the same direction. Grand delusion when number of people living in extreme poverty are 140M - more than India or anywhere else. Nigeria fate will be complete when oil drop to 10 dollars a barrel.[/b][b]

68816419:
hahahahah thanks Jason, my question to him is that, why should we (Nigerians/Africans) then believe their stats after all they were also gotten from same source as ours?

India has been working extremely hard to lift millions out of poverty.
Nigeria I think officially is now the world capital of EXTREME poverty.
http://www.konbini.com/ng/lifestyle/nigeria-poverty-capital-world-2018/

Yeah that shervy idiot is completely nuts. Turkey 2018 budget is 209B dollars..with revenues (tax) at 191B - and it's GDP is 700B. Nigeria with their cooked oops over-cooked GDP of 400B - highest budget ever is what - 30B dollars

Without checking this - you must be nuts. The turkey I know cannot have 72B budget.

shervydman:
since it's a Nigeria-Nigeria comparison, why bring UK, Germany, US, China, Kenya into it??

that's d breakdown of Turkey's 2018 budget. That's about about 290TL or about $72b!! Turkey's GDP is around $850b. What can u say about it??

Hawking groundnuts is not employment - it's Eking a living. The same with herding goats. All Nigerians by virtue of their poverty and the lack of social welfare programs are "employed" to survive but we don't count that statistically as employment. That would make the word meaningless.

justtoodark:
thats nonesense...una are trying too hard to be westernized....

how is selling stuff not employed...??

do you know tax collectors can visit you too as soon they see you selling things....??

Yeah Nigeria has unemployment rate of 6% way better than US - and GDP of 400B way better than South Africa & Egypt. You and I know it's BS. It grand delusion.

Obviously the number of Nigerian trying to sneak into nearly every country in the world is way more than countries at war.

I mean show me a peaceful prosperous proud african giant with 500B GDP (1.1 trillion PPP ) with 6% unemployment where people are taking suicidal boat ride to italy - I mean I can understand Somalia, Yemenis or war torn afhgan making the trip.

justtoodark:
thats nonesense...una are trying too hard to be westernized....

There is metholody established worldwide for counting who is employed and who isn't.Anybody above 15yrs and below 65yrs is unemployed unless he is employed. Yemi kale begin by first saying those in schools - although aged above 15yrs - are not counted because they are in schools ( I stopped there )....and then he goes on & on..and on...to make his own BullSHiet methodology..and end up say Nigeria unemployment is 6% - really nigg.er - even US of A would die for such stats.

Please cook but don't overcook. 6% un-employment

Person hawking kola nuts on the street is not employed.

Fact is everybody in poor country is "employed" because you have to work to eat or sleep...unlike say developed country with social programs.

But we don't count that as employment - Nigeria will count even thugs are employed.

Using that methodology you come up with BS stats like only 6% of Nigerian are un-employed - I guess those are the disabled ones

Kenya if it used that methodology will have 0.5% unemployment but it has a realistic figure of 40% plus.

justtoodark:
you kenyans are realy stubborn....many nigerians dont like to work for others....we work for ourselfs....

can you say somebody selling in the market and not in the statistics is not employed....??

we are not like whites....we like working for ourselfs....

Precisely remove Oil in southern part of Nigeria - and you have huge wilderness like North Kenyan - but this time populated. The northern nigeria is just wilderness..Ibandan..Kano city...those are huge slum metropolis.

You're talking about Ethiopia - 100M living mostly desert - except the few in Ethiopian highlands.
Here is KANO CITY - how many taxes do you expect from here?
https://i1.wp.com/media.premiumtimesng.com/wp-content/files/2013/08/Kano.jpg

NairobiWalker:
But you do cook your GDP. The figures don't add up. It's like that man who lives a shitty life, lives in a shitty house, owns no expensive assets, borrows little money from people all the time yet boasts to people how he makes $100,000 a year. I'm pretty sure you know of such kind of people. Facts don't lie.

Nigeria stats are totally cooked - GDP, Population, Oil consumption, cement consumption - name ANYTHING - and it's cooked. Kenya stats are very solid.

I mean the reputation of Nigeria forgery & corruption worldwide is well-earned.

Daejoyoung:
Oh my, where did you get that from my post? Nigeria is not Kenya that has very poor statistics and figures. Many Nigerians may not be honest people, but there's no reason to cook our GDP. Politicians and the Cabals even want the outside world to believe we are poor, so they can cover their tracks.

The myth of LOW Nigeria taxes

Personal taxes - btw Kenya and Nigeria. Nigeria seem to tax more personal & corporate tax. It's not true their taxes are low - it just that people are extremely poor (140M) and another 40M(poor) - with only 20M middle class - there is nothing to tax - except Shell's Crude Oil.
http://taxsummaries.pwc.com/ID/Kenya-Individual-Taxes-on-personal-income
http://taxsummaries.pwc.com/ID/Nigeria-Individual-Taxes-on-personal-income
Nigeria start taxing you around 300K naira (annually -kshs 83k) - in Kenya you don't get taxed until around (kshs150K) - that is TWICE !

Majority of nigeirans if they came to kenyan would be taxed zero and we don't have oil.

How do you spent a budget that is not even financed. You federal budget of 2016/2017 is 29B - and 9B out of it state allocation. You're just too stupid like most nigerians. Again symptoms of very poor education.

shervydman:
ur own posts doesn't make sense right since inception. Why not google how our budget is being spent and check if "states allocations" is included before spewing trash.

There is simply nothing to tax. Nigeria taxes are NOT low. Looking at PWC - coorporate tax is 30%. If Nigeria was 400B economy - it would easily get 50B from coorporate tax alone - by just checking at big listed and private companies.

Look at South Africa - you federal budget is 29B - South Africa budget is more than 120B dollars I think.

http://taxsummaries.pwc.com/ID/Nigeria-Corporate-Taxes-on-corporate-income

Daejoyoung:
The budget is low because of corruption, low taxes, and a disorganised informal economy, only the oil sector is organized, and so the Government must find a way to block many loopholes and tax every sector, this all boils down to lack of credible functioning institutions but it doesn't negate the fact that Nigeria is a 400Billion dollar economy. l even believe it's more than that and there have been hints in the past from some quarters that it is way above that.
We are not like the Kenyans who cook false stats and gdp's.

Nigeria total budget including States is around 36B dollars.It goes like this..federal budget of $29B - out of which $8B is state allocation. That leave federal budget of $21B. State budget including federal allocation is around 9 trillion naira (with Lagos and River state accounting for most of it)...so in total give and take Nigeria budget is around $35B.

And that is being generous - most of Nigeria federal & state budgets are just ambitious - never financed. All are contigent on crude oil prices. In Kenya it's very rare to have suplementary budget cuts - happen only every 5yrs during election troubles.

And nearly all Nigeria taxes are from oil (Shell!). There is nothing going on there. If Oil goes to 10 barrels now - Nigeria gov will collapse tomorrow.

And Kikuyu1 is right GDP to budget should roughly be around 30-40% of GDP - with GDP to tax - around 20-30% - give and take +-10 (for poor african countries +scandavian welfare state that levy upto 50% taxes).

Nigeria GDP to tax ratio I think is about 5% - the worse in the entire PLANET - and you know why - it coz GDP if totally over-baked.

Nigeria unemployment figures are hilarious - Yemi Kale over-cooked BS - who claim Nigeria has 6% unemployment - and yet the total taxes paid to Nigeria Gov minus Oil is nearly nothing. Whack methodology. Whack data. If kenya used the same - it could declare unemployment rate of 0%.
[quote author=68816419 post=66986942][/quote]

First let us agree that PPP cannot be used to compare countries. We use nominal GDP in USD. I am not saying there is no use of PPP - PPP is very useful tool within the country - for say measuring poverty!

Secondly let us agree that Kenya and TZ have a free - floating currency - there is no official exchange rate and black market one.Right now Central Bank of Nigeria has fixed an exchange rate of 306USD for naira - but the market rate is something 360 plus.If we use the real market rate - Nigerai GDP (and it's per capita) - will drop drastically from $400B to $320B - and my contention is that 320B is still cooked..Nigeria GDP should be around 250B.

Kenya is not rich - but it's growth has been solid 6% for the last 15yrs and it's predicted to grow at 6% for next 15yrs....and so by 2030-2035...it will have overtaken South Africa if she continues in her current mess.Nigeria is hopeless. She has to wean herself of OIL before we can talk about her.

68816419:
nigger u need to visit a psychiatrist ASAP i swear, so you mean you r more intelligent than IMF/WORLD-BANK economist?
Man,the IMF used the current value of Nigeria exchange and that is why they tagged it "IMF World Economic Outlook April 2018 Update"
OK, let now use your "Nominal GDP (in USD) is the standard comparison" as comparison between Nigeria and Kenya , Nigeria is ranked 137 Nigeria with Nominal GDP of 1,994 while Kenya is ranked 143 in the world with normal GDP of 1,702 so who now leads ?, Nigeria is no Kenya mates in most aspects

1) PPP - is crap if you're comparing nations. Nominal GDP (in USD) is the standard comparison. Economics 101.
2) Nigeria real GDP if you use the real exchange rate in the region of 320B.
3) If Kenya is already at 88B dollars...then I should worry if I was South Africa...Nigeria is just messed up.
4) TZ has been ramping up minning - but their economy is still nearly half of kenya!

68816419:
IMF World Economic Outlook April 2018 Update

Some interesting stats:

* Egypt predicted to overtake SA in GDP/capita in 2020 and Algeria in 2023, making it the richest large country in Africa both overall and per capita
* SA GDP/captita basically stagnant from 2010 - 2023
* Nigeria GDP/capita predicted to actually decrease from peak in 2014 ($5,754) to $5,172 in 2023, and Ghana will catch up to Nigeria
* Tanzania to catch up to Kenya in GDP/capita
* South Sudan, DRC, Central African Republic, and Burundi will all still have GDP/capita below $1000 in 2023.
* Many African countries are still growing slower than their population growth rate and have decreasing or stagnant GDP/capita

GDP (nominal)

1. Nigeria - $408 billion
2. South Africa - $371 billion
3. Egypt - N/A
4. Algeria - $198 billion
5. Morocco - $121 billion
6. Angola - $119 billion
7. Kenya - $88 billion
8. Ethiopia - $86 billion
9. Tanzania - $56 billion
10. Ghana - $51 billion
11. Cote d'Ivoire - $48 billion
12. Libya - $44 billion
13. DRC - $43 billion
14. Tunisia - $40 billion
15. Cameroon - $39 billion

GDP (PPP)

1. Egypt - $1.292 trillion
2. Nigeria - $1.168 trillion
3. South Africa - $794 billion
4. Algeria - $667 billion
5. Morocco - $315 billion
6. Ethiopia - $222 billion
7. Angola - $199 billion
8. Sudan - $198 billion
9. Tanzania - $176.4 billion
10. Kenya - $175.9 billion
11. Ghana - $145 billion
12. Tunisia - $141 billion
13. Cote d'Ivoire - $106 billion
14. Uganda - $95 billion
15. Cameroon - $94 billion

GDP/capita (PPP)

1. Equatorial Guinea - $29,261
2. Seychelles - $26,793
3. Mauritius - $20,404
4. Gabon - $17,770
5. Botswana - $16,782
6. Algeria - $14,034
7. South Africa - $12,327
8. Egypt - $11,872
9. Tunisia - $10,854
10. Libya - $10,486
11. Namibia - $10,343
12. Swaziland - $8,812
13. Morocco - $7,959
14. Cabo Verde - $6,516
15. Angola - $6,101

Even our GDP/capita (PPP) is far better than that of Kenyan owns, so, what da hell are Kenyans here saying ?
http://www.imf.org/external/pubs/ft/...ata/index.aspx
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The last i checked our oil consumption was over 100k barrells per day and nigeria was struggling around 270k...see at best your gdp is around 240b dollars.Not current 327 when we use the real exchange rate.

Your well-cooked GDP cannot be served in Nigerians dinner tables. That got to be painful. And it seem you may have to cook some more - because - as of now - it's tanking very fast.

Daejoyoung:
lol, you are really pained about this Nigerian GDP. Lagos economy is larger than that of Kenya but 90% of activities in Lagos is independent of oil.

And poor nigeria - despite fixing usd exchange rate - look like your GDP is tanking faster than I thought. According to Renaissance Capital if the real exchange rate is used - Nigeria GDP is $327B. That is a whooping $170B dollars gone in 3yrs - and oil prices are just about to tank!
https://www.howwemadeitinafrica.com/wp-content/uploads/2017/10/Rob2.png

It's not hard to tell if data is cooked or not. Nigeria over-cooked GDP is so obvious - like I told ya! a developing country gdp should basically mirror cement consumption - the reason being cement is bulky and hard to transport & generally reflect economic activity in a a developing country. Now for Nigeria - a developing country - that consumes merely 18-20M metric tonnes of GDP to claim it's GDP is greater than 250B dollars is just crazy.
Look at TZ data here...you can see very strong correlation btw GDP and Cement consumption.
https://data.bloomberglp.com/professional/sites/10/imported/professional/sites/4/BI28.png

Daejoyoung:
lol, here are some of the comments..


l have always suspected Kenya esp. When GDP rose from US$56 bln to 64 bln then to 70 bln while their exports to the region have been shrinking n tea n cut flowers have been not doing good either.

Worst enough Kenya has had food insecurities for the past 5 years! International communiry should punish Kenya for cooking data that in the end they use to vie for loans.

I ignore that graph because like I have demonstrated here; there[b] very many ways to cross-reference GDP/any data and tell which one is cooked and which one is over-cooked.[/b]

For instance one of best way to measure a developing world GDP is cement consumption. Nigeria is hovering around 18-20M metric tonnes (they are dropping with recession) - what a giant!!- and kenya the dwarf is around 6-7M - therefore it's rather obvious Nigeria GDP - even now at 400b dollars is way over-cooked. Nigeria GDP should at best be around 240B - or 3 times kenya - although you have nearly 4-5 times the population.

Is Kenya GDP cooked - of course not - if you check cement consumption linearly correlate with our GDP. In 2002 - our cement consumption was not even 1M metric tonnes...and we have grown it nearly 7 times...the same way we've turned a 12B dollar economy to now 80B dollar economy.

Nigeria GDP of course is totally whack!! totally cooked.

obaaderemi:
Are you blind or you don't understand the chart?Can't you see world bank as the source? A five year old should understand it. Hurry, send someone to fetch a 5 year old.

Had to check this and unfortunately all that is coming from a blogger - who attribute it to Capital Economics without any reference - and he makes wild allegation that kenya growth is stable quarter to quarter. For the last 15yrs - and even before that - Kenyan economy has tanked every election yr - 2017 is no exception - and elsewhere he just lies.

Here is cement consumption - the 2017 drop is related to our normally messy elections - otherwise it correspond with construction GDP.
https://www.globalcement.com/images/stories/documents/gcw/GCM318-Graph-2.png
Cement consumption in Kenya for first five months of year, 2013 - 2017. Source: Kenya National Bureau of Statistics.

obaaderemi:
When it comes to lying about stats and cooking figures, Kenyans are the worst in the world. From their GDP to growth to access to electricity, everything, Kenyans are the chief cook and it's amazing how some stupid Nigerians here have been taken in by these lying maasais. See below how poorly the world bank and other experts rate the statistics ability and honesty of Kenyans. It's shameful.


https://www.jamiiforums.com/threads/economists-raise-concern-that-kenyas-official-gdp-figures-may-be-cooked.1290091/


In addition, Capital Economics is not the
first to have concerns about the
capabilities of the KNBS. The World Bank
has rated Kenya’s statistical capacity as
the second worst among the large African
economies (only oil-rich Angola performs
worse). Kenya is also one of the few
countries in Africa to have received a
lower score last year than it did a decade
earlier as shown below;