₦airaland Forum

Fidha254
This are the Next BRIC, Stop living in a deluded world.
https://en.m.wikipedia.org/wiki/MINT_(economics)

The Next BRICS.


In 2001 the world began talking about the Bric countries - Brazil, Russia, India and China - as potential powerhouses of the world economy. The term was coined by economist Jim O'Neill, who has now identified the "Mint" countries - Mexico, Indonesia, Nigeria and Turkey - as emerging economic giants. Here he explains why.
So what is it about the so-called Mint countries that makes them so special? Why these four countries?

A friend who has followed the Bric story noted sardonically that they are probably "fresher" than the Brics. What they really share beyond having a lot of people, is that at least for the next 20 years, they have really good "inner" demographics - they are all going to see a rise in the number of people eligible to work relative to those not working.
This is the envy of many developed countries but also two of the Bric countries, China and Russia. So, if Mexico, Indonesia, Nigeria and Turkey get their act together, some of them could match Chinese-style double-digit rates between 2003 and 2008.

Something else three of them share, which Mexican Foreign Minister Jose Antonio Meade Kuribrena pointed out to me, is that they all have geographical positions that should be an advantage as patterns of world trade change.

For example, Mexico is next door to the US, but also Latin America. Indonesia is in the heart of South-east Asia but also has deep connections with China.

And as we all know, Turkey is in both the West and East. Nigeria is not really similar in this regard for now, partly because of Africa's lack of development, but it could be in the future if African countries stop fighting and trade with each other.

This might in fact be the basis for the Mint countries developing their own economic-political club just as the Bric countries did - one of the biggest surprises of the whole Bric thing for me. I can smell the possibility of a Mint club already.

What I also realised after talking to Meade Kuribrena, is that the creation of the Mint acronym could spur pressure for Nigeria to become a member of the G20, as the other Mints already are.

This was something the charismatic Nigerian finance minister, Ngozi Okonjo-Iweala was keen to talk about: "We know our time will come," she said. "We think they are missing something by not having us."

Meade Kuribrena went so far as to suggest that, as a group of four countries, the Mints have more in common than the Brics. I am not sure about that, but it is an interesting idea.

Economically three of them - Mexico, Indonesia and Nigeria - are commodity producers and only Turkey isn't. This contrasts with the Bric countries where two - Brazil and Russia - are commodity producers and the other two - China and India - aren't.

In terms of wealth, Mexico and Turkey are at about the same level, earning annually about $10,000 (£6,100) per head. This compares with $3,500 (£2,100) per head in Indonesia and $1,500 (£900) per head in Nigeria, which is on a par with India. They are a bit behind Russia - $14,000 (£8,500) per head - and Brazil on $11,300 (£6,800), but still a bit ahead of China - $6,000 (£3,600).

A big question that guided my thinking on visits to these countries for the BBC was - "How do these countries actually feel on the ground, compared to my own expectations and the general consensus of opinion?"

When expectations are low - as one might generally say about Nigeria for example (although not in recent years among specialist investors in Africa) - it is easier to be positively surprised.
But the opposite is also true - and this could be a problem for Mexico, which financial investors are really quite excited about.

I returned from my travels thinking it won't be so difficult for Nigeria and Turkey to positively surprise people, as many put far too much weight on the negative issues that are well-known - crime and corruption in Nigeria, for example, or heavy-handed government in Turkey.

Indonesia, I am less sure about. The country's challenges are as big as I thought and I didn't hear too many things that made me go "Wow" in terms of trying to deal with them. The country needs more of a sense of commercial purpose beyond commodities, and has to improve its infrastructure.

In Turkey, visits to white goods manufacturer Beko and Turkish Airlines, the world's fastest growing airline, definitely made me go "Wow", and in Nigeria, I was saying it all the time.

The creativity in that place is so easy to get enthused about, at least it was for me, and I returned full of excitement about different personal investments I might follow up on.

In Mexico I was all set to be disappointed, as expectations are so high, but the young president and his equally young colleagues are full of determination to change the place.

If you thought Maggie Thatcher stood for serious reforms, these guys make her seem like a kitten. They are reforming everything from education, energy and fiscal policy to the institution of government itself.

What about all the challenges and things that usually scare people? Well corruption is obviously one topic that all four would seem to share, and I had many interesting discussions about it in each country.

In Nigeria, Central Bank Governor Lamido Sanusi argued that corruption rarely prevents economic development - and that the growth of the economy, accompanied by improvements in education, will lead to better governance and greater transparency.

Such views are important to listen to, as an alternative to our often simplistic Western way of thinking. For many credible people in the Mint countries, corruption is a consequence of their weak past, not a cause of a weak future, and certainly not the number one challenge. It falls way down a list compared with the costs of energy and the breadth of its availability and, of course, infrastructure.
Sorting out energy policy was seen in both Mexico and Nigeria as a top priority and each country has launched a major initiatives this year, which if implemented, will accelerate growth rates significantly.

Here is an amazing statistic. About 170 million people in Nigeria share about the same amount of power that is used by about 1.5 million people in the UK. Almost every business has to generate its own power. The costs are enormous.

"Can you imagine, can you believe, that this country has been growing at 7% with no power, with zero power? It's a joke." says Africa's richest man, Aliko Dangote.

He's right. I reckon Nigeria could grow at 10-12% by sorting out this problem alone. That would double the size of its economy in six or seven years.
In Indonesia, the fourth largest country in the world, I would say leadership and infrastructure are the major challenges, though there are many more too. But challenges and opportunities sit side by side.

In one of Jakarta's slum areas, Pluit, the land is sinking by 20cm per year because of over-extraction of water, but property prices elsewhere in the city are rocketing.

I talked to a man building the country's first Ikea store, who reckons a third of greater Jakarta's population of 28 million (the third biggest conurbation in the world) would have sufficient disposable income to shop at his store. As he said: "We just know it's going to work."

In Turkey of course, its politics and the combination of a Muslim faith with some kind of desire to do things the Western way is a unique sort of challenge. Some might argue the same challenge exists for Indonesia but I returned thinking this was not the case. In Jakarta at least, the Western way of doing things seems to be generally accepted - in striking contrast with Turkey.

So can the Mints join the top 10 largest economies in the world, after the US, China, the rest of the Brics and maybe Japan?
I think so, though it may take 30 years.
I look forward to going back to each of them more regularly now I am helping to put them on the map, just as happened with the Bric countries 12 years ago.

http://www.bbc.co.uk/news/magazine-25548060

Eko Atlantic the dubai of Africa.

Fidha254:
http://fortune.com/2015/01/22/the-new-world-of-business/

Forget BRICS here are global Emerging markets of the future

Huhh, Kenya is not part of the MINTS Bro,

MINTS: Malaysia, Indonesia, Nigeria , Turkey, South korea.

Eko Atlantic, The dubai of africa.

Will Nigeria Beat South Africa In The Race To Space?[/b]

By Dana Sanchez
Published: April 6, 2016, 8:25 pm

http://afkinsider.com/122873/will-nigeria-beat-south-africa-in-the-race-to-space/m/122873/will-nigeria-beat-south-africa-in-the-race-to-space/


http://directory.eoportal.org/documents/163813/189178/NigeriaSat2_Auto18



Nigeria wants to launch the first-ever manned mission into outer space by an African country as early as 2030, the country’s Ministry of Science and Technology said.
To get there, Nigeria’s National Space Research and Development Agency plans to collaborate with China, according to Felix Ale, head of communications at NASRDA, Inquisitr reported.
“We contribute to various sectors that benefit the nation,” Ale said. “The focus of our space program is on the socio-economic development of the country. The best way to fast-track development in any part of the world today is through the application of space science and technology.”
Several African countries have their sights set on space and want to tap in and harness the potential of space technology. Nigeria has already launched five satellites since 2003 — some still useful and in orbit.
Ghana and Kenya launched space exploration initiatives in 2012. South Africa is spearheading space technology.
Three hours from Cape Town in the arid Karoo, 455 square miles of farmland have been earmarked to become home to part of the Square Kilometer Array project, a $2 billion radio telescope said to be the world’s largest.
South Africa and Australia were jointly chosen to host the SKA project, according to a report in Africa Good News. The telescope is 50 times more sensitive than any equipment so far and will seek answers to the origins of the universe, according to an earlier AFKInsider report.
The Square Kilometer Array should be fully functional by 2024. A test telescope has already been built to try out the technology. The Karoo Array Telescope 7 is a working instrument.
The KAT-7 telescope uncovered the secrets of a binary star system, according to Africa Good News. The star system was observed firing energetic matter from its core into the surrounding system in extensive, compact jets that flared brightly, details of which are visible only in radio waves, the report said.
Kenyan space expert Calestous Juma, Harvard Kennedy School professor, is considered one of the most influential African authorities on the subject. Nigeria’s ambitions to enhance the scope of science, innovation, and space engineering could have far-reaching benefits for the country’s economy, he said, according to Inquistr.
“Scientific, technological and engineering capabilities would have direct economic benefits to Nigeria long before the decision of putting a person in space is made,” Juma said. “Space walks are probably the least important. It is the scientific and technological infrastructure and its linkages to the rest of the economy that matters.”
Citizens of 40 countries have ventured into space since the first-ever manned space-flight, commanded by Russian Cosmonaut Yuri Gagarin, made history in April 1961. Since then, only three countries — former Soviet Union, the U.S., and China, have successfully launched their own manned space missions. The Soviet Union and U.S. integrated many astronauts from other countries into their space programs, according to Inquistr.
More than 1,000 satellites are in orbit, nearly half of them from the U.S.
Many are in low-earth orbit, a few hundred kilometers above the earth. Some of the better known satellites include the International Space Station and the Hubble Space Telescope.

Nigerians Doing great things.

http://edition.cnn.com/2012/01/10/business/funke-opeke-cable-internet/index.html&sa=U&ved=0ahUKEwjso7uZ0N7UAhXCrxoKHRv1BTAQFggLMAA&usg=AFQjCNEN1Dfgd2J1hQCagHs4IAZg-nWrcQ

genieluv:
Shaytun, i think this guy here is very correct.

*** By 2050, Nigeria will be approximately 440 million people as the 3rd most populous country in the world. So, going by your GDP estimate, our GDP per capital would be approx. $10,000 n we would still be classified as a middle income economy just the way countries like Brazil are today.
If we cannot catch up or even surpass countries like Indonesia at that time, then i don't think it is worth much celebration, cos even today Indonesia is not so much ahead of Nigeria economically, why should they give us a gap as high as $6 trillion in the future?

There are all just what they are, "Estimate".

Look at this, it puts Nigeria Among the top three come 2050.


http://www.vanguardngr.com/2017/04/nigeriall-among-3-world-economies-2050-britain/&sa=U&ved=0ahUKEwiNx--Ey97UAhUGSRoKHZmJDYsQFggLMAA&usg=AFQjCNGMTiyIYDmUK3AMBdx8iqPsI8Sn0A

mtis:
Man even if ya trying to promote ya country try to get more recent data..now is Libya big five.... Naija love for fallen ones

Shamelessness.

Kenya I tire for theee.


In 2015, that quota translated to $17 million for South Africa and $16,96 million for Nigeria.
Knowing who doesn't pay amongst the lower tiers is not straightforward, as the AU is reluctant to name and shame. Africa in Fact's request to the AU secretariat in October 2016 for payment records did not receive a response.

However, recent figures from the Centre for Citizens' Participation in the African Union, which campaigns for the financing of Africa's integration and development, show that the most indebted were Kenya, Ghana, Libya and Cameroon, as of 30 September 2013.

Other countries in arrears were Niger, Mauritania, Mali, Madagascar, Guinea Bissau, Malawi, the Democratic Republic of the Congo and Cotê d'Ivoire. Kenya owed $3,024 million while Ghana and Cameroon owed $1,3 million and $2,9 million respectively. Only 19 member states had cleared their dues.

http://allafrica.com/stories/201701200093.html

TayserMahiri:
You see? I was telling you he had the same problems as president but never left. According to your link "Mr Kibaki's personal physician, Dr Dan Gikonyo, said they had decided to take him to the UK just to check the work of local doctors and surgeons." I guess Buhari is also in London all that time to check the work of his local doctors.

BITE ME


Debate on Kenya's health care heats up
News | 2 March 2017, 05:56am
Tom Mboya


Governor Nderitu Gachagua of Nyeri County died in London last week; a daughter of opposition leader Raila Odinga was flown to a South African hospital for further treatment; the doctors’ strike entered the third month and all this gave Kenyans a hot topic for debate on the country’s ailing medical care.

As stories appear in the news media daily of people who have died due to lack of medical attention, the debate now swirls around the rich and the politically connected who can board a plane at the drop of a hat for specialised treatment abroad, while talks to bring the striking doctors back to work have achieved nothing.

Nyeri governor Gachagua died aged 64 at the Royal Marsden hospital in London, UK last week Friday from pancreatic cancer, an illness that saw him admitted in that country for two months in 2015. Rigathi Gachagua, the late county chief's brother, said he had been sick for about two years. The body is to be buried in Kenya next week Monday.

This kicked up a storm and as usual Kenyans took to social media, debating the death. The consensus seemed to be that the country’s leaders needed to invest in better health care locally which could be accessed by both the high and mighty and the common man.

Even before the uproar died down, Rosemary Odinga, who many see as being poised to take over her father’s political empire very soon, was admitted into a Nairobi hospital last weekend for a swelling in the head. She was later flown to a South African hospital for surgery to remove a brain tumour.

Julius Kinara, a Kenyan living in the United States, argued that this was the right time for Kenyans to debate on the status of the health care system available to them in public institutions.

“If indeed it is true, that Rosemary has been flown out of the country for treatment, I wish her quickest recovery. However, as a country we need some serious soul searching when addressing the quality of the health care system in Kenya. More so, when those in power and those seeking power, or held power before, have not addressed the fundamental structural delivery, access, quality and cost of health care in Kenya. In the grand scheme of things, we are all humans, born with same strengths and frailty, we all get sick and sooner or later, die,” he said.

This is not the first time Kenyans are debating the health care system in juxtaposition to the behaviour of their leaders.

Last year, the governor of Bomet in the west of Kenya, Isaac Rutto surprised many when after his nose was hit in a confrontation with anti-riot police at a political rally, he was airlifted for care to a Nairobi hospital before being flown to South Africa for specialised treatment. For a fractured nose.
This is how it happened. Rutto was involved in a scuffle with supporters of his opponent. Within minutes he left the melee with a broken nose. He had an Elastoplast to prove it. Within the hour he was airlifted to Nairobi for specialised medical attention and after two days he was evacuated to South Africa for treatment.

All the while there is a doctors’ strike in Kenya’s public hospitals with deaths reported.

Then came the turn of retired president Mwai Kibaki, who confirmed the rich Kenyans' unending love for South African health care. He was airlifted to South Africa in August last year for medical attention. “He was finance and health minister, vice-president and president for 10 years. He failed to improve health care,” fired off one of Kenya’s most controversial activists, Bonface Mwangi.

Mwangi’s argument gained traction on social media as many people castigated Kibaki and other political leaders for not doing enough to improve standards in the public health system.

Although the family would not say what was ailing the former head of state, local media said Kibaki had suffered a stroke and had been rushed to the Karen Hospital, owned by his personal doctor Dan Gikonyo before he was airlifted to South Africa. Kibaki’s health scare came as the country commemorated the 13th anniversary of the death of Wamalwa Kijana, who served as Kibaki’s vice-president in his first term in office.

And Wamalwa too died at the Royal Free Hospital in London.

As for now, the well-heeled will keep their passports ready for any emergency medical evacuation while their not so blessed compatriots will do with some more prayers that the doctors go back to work soon.

https://www.africanindy.com/news/debate-on-kenyas-health-care-heats-up-7992537

mtis:
This what am talking about

The Gross Domestic Product (GDP) in Nigeria contracted 12.92 percent in the first quarter of 2017 over the previous quarter. GDP Growth Rate in Nigeria averaged 1.12 percent from 2010 until 2017, reaching an all time high of 10.59 percent in the third quarter of 2010 and a record low of -13.98 percent in the first quarter of 2016.

That report was carried out while Nigeria was still in reccesion, So am sure PwC knows what its doing.

And also....

https://m.guardian.ng/news/nigeria-out-of-recession-world-economics-declares/&sa=U&ved=0ahUKEwjUs8Kdu97UAhVMORoKHUyKB80QFggLMAA&usg=AFQjCNHpMrMNA5xjIoW5zcKyC_MZrz6Zzg

Moral of the story: Quit Hating, it not good for your health.

The big five - Algeria, Egypt, Libya, Nigeria and South Africa - each contribute 15 percent of the African portion of the AU's budget. While Egypt's suspension signifies that all member states, regardless of their importance, are subject to the same rules and regulations, the decision was not unanimous. Uganda and Djibouti (two of the 15 PSC members) expressed their reservation about the decision.


http://www.aljazeera.com/indepth/opinion/2013/08/201388125435183276.html

ednited:
I just comment. I am emotional sometimes, but I will never throw my hands in politics. . . .ever! And if they are reading this, I would like to let them know this

I admire your strength . We Nairalanders dey Gidigba for your Back.

TayserMahiri:
Provide a link and the debate will end. There's no way such a big story could escape all Kenyans and only one Nigerian knows

My bad, he was still a presidential candidate.

http://news.bbc.co.uk/1/hi/world/africa/2540671.stm

All in all he still choose a london hospital over kanya.

mtis:
2050 the way things are going right now no worry man

How are things going right now?
Dude you don dey spend too much time for Nairaland ooo..

freshest4live:
OK but since you have such a great health sector, why should anybody fly away to southafrica for treatment when it's easier to get treated in Kenya? since you guys believe Buhari travelled out due to Nigerian poor health sector, that was the genesis of this arguement from Muafrika anyway.
Note even if kibaki was former president, he was still like an ambassador or well respected representative of the country.

Actually when kibaki was a president he was flown out ofvthe country for treatment in london.

The country that will bee.



By 2050, the world is likely to have changed drastically from what we know now, and the planet's economic and financial landscape will be no exception.

A report from professional services giant PwC looks at which economies around the world will be the biggest and most powerful in 33 years time.
The report, titled "The long view: how will the global economic order change by 2050?"
ranked 32 countries by their projected global gross domestic product by purchasing power parity.
PPP is used by macroeconomists to determine the economic productivity and standards of living among countries across a certain time period.

With the exception of the USA, many of the world's current powerhouse economies like Japan and Germany will have slipped down global rankings, replaced by countries such as India and Indonesia, which are currently emerging markets.

Check out the ranking below (All numbers cited in the slides are in US dollars and at constant values (for reference, the US's current PPP is $18.562 trillion):



http://uk.businessinsider.com/pwc-ranking-of-biggest-economies-ppp-2050-2017-2?r=US&IR=T

Nigeria am proud of thee.

The future power that will be.


32. Netherlands — $1.496 trillion.

31. Colombia — $2.074 trillion.
30. Poland — $2.103 trillion.

29. Argentina — $2.365 trillion.
28. Australia — $2.564 trillion.
27. South Africa — $2.570 trillion.

26. Spain — $2.732 trillion.
25. Thailand — $2.782 trillion.
24. Malaysia — $2.815 trillion.
23. Bangladesh — $3.064 trillion.
22. Canada — $3.1 trillion.

21. Italy — $3.115 trillion.
20. Vietnam — $3.176 trillion.
19. Philippines — $3.334 trillion.
18. South Korea — $3.539 trillion.
17. Iran — $3.900 trillion.
16. Pakistan — $4.236 trillion.
15. Egypt — $4.333 trillion.

14. Nigeria — $4.348 trillion.
13. Saudi Arabia — $4.694 trillion.
12. France — $4.705 trillion.
11. Turkey — $5.184 trillion.
10. United Kingdom — $5.369 trillion.
9. Germany — $6.138 trillion.
8. Japan — $6.779 trillion.

7. Mexico — $6.863 trillion.
6. Russia — $7.131 trillion.
5. Brazil — $7.540 trillion.
4. Indonesia — $10.502 trillion.

3. United States — $34.102 trillion.
2. India — $44.128 trillion.
1. China — $58.499 trillion.

http://www.independent.co.uk/news/business/these-will-be-the-32-most-powerful-economies-in-the-world-by-2050-a7587401.html

freshest4live:
It's not about that, the context is that you were mocking Nigeria's health sector because Buhari left to London for his health.
A former president of Kenya also because he is wealthy enough thought it wise to rather fly to south Africa than go to a Kenyan hospital.
President or no president, it's all related to same lack of trust in the health sector if we go by Muafrica's logic.

Don't mind them.

The last time a serving Kenyan president had a major health issue he got treated in london.

Accusing others of what you are guilty of is a sign of dumbness.

NIGERIA: An Emerging Global Power.


http://www.pwc.ru/en/press-releases/2017/2050.html&sa=U&ved=0ahUKEwin7PHvrN7UAhVGPBoKHf5IAIoQFggXMAQ&usg=AFQjCNGIopysun3eDuIeGFw8TK7P_Yvv3g

TayserMahiri:
Please, is this what Bubu ran away from? You are very very thick.

Story story, story.

The koko for matter be say, your presido ran go London when him get health wahala .

NIGERIA: An Emerging Global Power.


http://www.pwc.ru/en/press-releases/2017/2050.html&sa=U&ved=0ahUKEwin7PHvrN7UAhVGPBoKHf5IAIoQFggXMAQ&usg=AFQjCNGIopysun3eDuIeGFw8TK7P_Yvv3g

TayserMahiri:
Please, is this what Bubu ran away from? You are very very thick.

Story story, story.

The koko for matter be say, your presido ran go London when him get health wahala .

mtis:
Former President ..can't you read

Is it that you guys are stupid, or is it just that you lack reading comprehension, or maybe both.

He left for london during his tenure as president of kenya for treatment.

https://en.m.wikipedia.org/wiki/Mwai_Kibak

And then in 2016 he left kenya for SA after his tenure for the same health problem.

Read boy, Read, is that hard for you to do.

Read!!!!

mtis:
Former President ..can't you read

Is of that you guys are stupid, or is it just that you lack reading comprehension, or maybe both.

He left for london during his tenure as president of kenya for treatment.

https://en.m.wikipedia.org/wiki/Mwai_Kibak

And then in 2016 he left kenya for SA after his tenure for the same health problem.

Read boy, Read, is that hard for you to do.

Read!!!!

TayserMahiri:
Thousands of private citizens fly outside for medical care as a matter of choice, not that those services are unavailable. However, when someone is president you dont fly outside like a private citizen for medical care! You have a effin country to run.

But your president did just that when he had health issue.

He left the country for London.

https://en.m.wikipedia.org/wiki/Mwai_Kibaki

TayserMahiri:
He had similar health issues as president but never left because he's mannered. Buhari on the other hand is on pilgrimage for months and doesnt give a damn

Are you somehow related to Lai Muhammed? You two have a lot in common.

He left the country for london when he had that health issue .

https://en.m.wikipedia.org/wiki/Mwai_Kibaki

See what your fellow countrymen has to say.

TayserMahiri:
I noticed you are poor in English. Former means he was the president not the current president. So he went there as a private citizen

Doesnt matter, what is important is that he choose to fly out of the country instead of being treated in the country.

You stupid or something?

Did you know that a Nigerian designed the chevy volts.


https://qz.com/969320/the-nigerian-who-designed-the-gms-chevy-volt-is-leading-the-countrys-auto-ambitions/

mtis:
Dude 1 Ksh = 4 nairas ..so who cheaper now

Cost of living dude, cost of living .

.

You thick in the head or something.