₦airaland Forum

This is really bad for the economy

Kemetian:
THESE ARE REDUNDANT STATISTICS.

Once the economy is REBASED in the next few days, we will see a more realistic GDP Per Capita than this nonsensical figure.

You keep shouting rebased rebased , I ask you again rebased on which premise? You are still deliberately living in denial about the great harm the APC has done the economy of this country

When we told you all these obidients hunchos were planted by the APC we know what we are saying

A party filled with flea brained folks can never achieve nothing

pipsplus2020:
I reach out to a company in China concerning a product for which I was given quote two years ago to know the current price, I was told it's still same price it was two years ago.

That was a surprise to me though, considering what's going on here

China avails it citizen a whole array of subsidies which ensure stable prices

Govt lost the right to regulate anything when it increased the price of fuel and energy by a whooping 800 percent ... Subsidy was in place to ensure affordable price across board but the short sighted govt used reckless emotions to remove it

The number of Nigerians earning over ₦500,000 per month has dropped dramatically, declining by 57% between 2023 and 2024, according to data from the PiggyVest Savings report.

In 2023, 14% of respondents disclosed earnings above ₦500,000, but this dropped to just 6% in 2024. This decline may reflect the relocation of high earners — identified as a top savings goal in the 2023 report — or job losses, as the number of respondents earning below ₦100,000 or reporting no income also increased.

Women are more likely to earn lower wages, with 59% of women earning below ₦250,000 compared to 49% of men. Interestingly, the number of Nigerians with one stream of income rose from 61% in 2023 to 71% in 2024.

Food and groceries account for the biggest personal expenses, followed by transport, bills, and utilities. Food inflation has been rising over the last year and now stands at 37.7%. This increase is reflected in the responses from respondents as food and transportation costs account for the biggest increases.



Fewer Nigerians are saving
A worrying data point in the report is the decline in savings, with 57% of Nigerians saving for the proverbial rainy day compared to 64% in 2023. The decline can be attributed to higher costs of living, which would naturally make individuals save less.

Building emergency funds, starting or growing a business, and upkeep for children are the top three savings goals in 2024. Emigration, aka japa which was a top three savings goal in 2023, drops to eight, with only 10% of respondents saving towards it.

READ MORE South-African edtech company, iXperience, secures $2.5 million in Series A funding
Although emergency funds remain the top savings goal, 33% of Nigerians reported having no emergency savings between 2023 and 2024. When asked about the reasons, 72% cited inflation, while 32% attributed it to changes in income or economic status.

With access to credit remaining elusive for most Nigerians, 45% of respondents report borrowing money from friends and family. Banks and loan apps constitute 19% and 15%, respectively. However, 79% of Nigerians report not being in debt, likely reflecting the average Nigerian's aversion to credit.


https://techpoint.africa/2024/10/31/nigerians-earning-more-than-500k-falls/

Noblechykk:
30 perfect commission seems much to me

It's outrageous, how much is the companys profit margin yet the Brekete man want even 50 percent

chiommy123:
You should be ashamed of yourself that your wife is looking for attention outside

You think it's attention? She just a hoe

yarimo:
Criminals want to defraud him

Na their way

Akpakomiza2:
He is right. Binani was outrigged

So it was a game of the better rigger

ADAMUdaCOWBOY:
I am disappointed. Ahmad Isa supported Dr. Ruzu immensely, it is sad that this is happening.

Supported for 30 percent commission? Looks like they both supported themselves immensely

Max24:
To the best of My knowledge this is the first time a southerner is made the Clerk of the NA. Kudos to Tinubu for allowing other regions to feel the Impact of Governance.

Well fair enough

Was he sick ? May his soul find rest in Aljannah

Lionessza6:
LMAO . Nigerian leaders are truly wicked....they made sure you people recieve the shyttiest tertiary education on the continent among the big economies for a reason.....and I can see it's working


Your Gdp was always around 50 bill since 1960 and it was $31 bill in 1990.....and you managed to spend so much on us?

Go and anex the slums of Switzerland if you really want to get back that money coz that's where it all went ...you're just too foolish to decipher the ways of your scamming daddies

Have you ever heard of " adjustments for inflation?"

What ever spent then would be about $60bn today and y'all need to pay up soon or handover Capetown so we can make Opa 6 the mayor

Unfortunately Ruzu bitters has no case , why will you give your CAC docs to another party to open accounts which you do not control ?

And how is FIRS charging tax based on cash flow ?

I don't like this idea of selling govt worker quarters to occupants

You have nothing

Godspeed

Lionessza6:
LMAO. And then finally Nigerian men will develop their country for their women .....they'll stop cussing and cursing other nations for rejecting them ?

South Africa is owing Nigeria 60 billion dollars for anti apartheid expense, we will demand Capetown is handed over to us as payment 😁

God bless the mighty Igbo race

Elon Musk and Trump will be the nemesis of these zenophobic south Africans

SmartPolician:
The same flag some young people waved at Lekki Toll Plaza and you lots opened fire on them. If not for video footages, you lots would've denied the massacre. The senseless killings show that Nigerian flag means nothing!

God bless U

He should sha remove that cross , he is setting a bad precedence

Eniitankorede:
It is now 60,000 a bag in Ogun state. It was 80,000 few weeks ago.

Try and have some shame

They should have waited till he sends them to their grave before accepting he has failed

Dafresh:
How did he mislead some youths?

His videos on social have led a lot of youths into going to buy Okeite in his shrine

If you like keep believing Tinubu govt agents and their lies , prices are still on the rise across. Every product and service as we speaker

He looks like someone wey Sabi work