KnowAll: Does tourist have a colour colo mentality if a white man does not clutch a couple of dollars in his hand that means we don’t have tourist. So all those Nigerians comming home are E gun gun calabar. Abeg go sleep.
No one here is talking about a white man. You are.the point is Nigeria doesn’t receive anywhere as many tourists as its African neighbours. I provided proof of that. You can’t compare Nigeria to Egypt, South Africa, Algeria and so on when it comes to tourism. You’ve rambled on about nonsense.
JagabanB: That was China before Mao Zhedong, what African countries need is a Mao. The Chinese never thought this was going to happen before Mao. Our own Mao may break Nigeria into bits and grow his part.
You could say the Mao was Gaddafi but Uncle Sam took him out. Africa sucks when it comes to leaders. Look at all the protests and riots happening allover Africa. I don’t think the continent can produce a Mao.
KnowAll: The tourist in Nigeria are Nigerians in diaspora and a few millions come home every year with their dollars, pounds and Euros. And most stay in many of these hotels knowing there is no power in the country and any kind of moderate comfort can be got in this hotels.
Is it because you don’t see oyinbo’s trooping to Nigeria that u think there is no tourist in Nigeria. I once traveled to Namibia & d plane was 99% Germans going to Namibia. And I said to my fellow traveler a Black Namibian, your people don’t travel. I said if it was a flight to Nigeria it would be 99% blacks.
The fact that smaller, poorer and weaker nations are getting more tourists than Nigeria is wild.
OurTruth: This is a subject that actually kickstarted my desire to seek knowledge, to engage in honest research and to learn. I have researched this subject for many years and I've gathered a lot of information as to why black African countries are not up to the level of their western and eastern counterparts
This journey is going to be visual, as I will post many pictures to back up the written information I'll put forward, so if you love pictures and art, this is going to be entertaining for you.
This subject matter is very sensitive, so I'll try to thread carefully. In that vein, I want everyone reading this to know that the information I'm putting forward doesn't come from a place of racism, prejudice or hatred of the west or of black Africans.
I'm a black and proud Nigerian and I want my people to know the truth. That's my only motivation for making this thread.
Let's begin.
Because Africa doesn’t want to move forward. They want to live like their ancestors 😂
True but I still think it’s irrelevant as to whom have more hotels because that has nothing to do with GDP.
What’s the point of having hotels that are mostly empty and a non-existent tourist industry.
Nigeria is nowhere to be found on that tourist list. The only people visiting Nigeria are those in the diaspora. Otherwise, wtf would want to come to a country like that?
The reality is that the country’s GDP has halved not what you and the economist with 2 brain among eachother have said. IMF puts the GDP at around $250 billion.
JagabanB: Nigeria will never be like Haiti or Burundi. Presently like China before Mao. If Nigeria is going the path of Haiti, it won't be able to have 500m people in 40 years. Nigeria is actually at a critical point and it will stay at this point for the next 10-15 years, that's the make or break point, it's either it gets made or gets broken into fragments.
It can’t even support its current population. No African country is going to get made. When you look at the history of countries that industrialised. You see the factors that contributed to their industrialisation such as strong rule of law, functioning institutions, low corruption etc don’t exist in any African country and ultimately never will.
Africa will never be the next China. Asians and Whites still run Nigeria and Africa at large. China is responsible for much of Africa’s industrial development.World powers invest in this continent because of geopolitical competition not because they see this continent as a potential industrial power.
Africa’s attempts to rival Western/Eastern societies will be met with a failure.
JagabanB: Do you realize that African economies are deteriorating rather than growing? Every economy in Africa is as good as sh*t and whatever everyone is doing is permutations.
I agree even SA is economically doomed but not as doomed as Nigeria. And it’s worse because the population growth is not sustainable. The country can’t even sustain its current citizens and I believe Nigeria will have like 500 million people in the next 40 years and naira is devaluing. The country is going down the path of Haiti and Burundi.
FreeStuffsNG: How you make these incorrect assertions you all make with gusto and ignorance beggars belief!
Please take time off the unsocial media and nairaland, quit wasting your life and time, pick even ordinary o' level economics textbook and read.
It is because most of you are ignorant that most people in government do not take youths serious. They can easily see your ignorance.
GDP is the most popular and basic of all the parameters used to measure a nation's productivity and wealth. There are others like GDP per capita, Gini coefficient and more elaborate ones like HDI.
The poverty of people who are lazy and idlying away and wasting away for long on the social media is self inflicted.
Something tells me that it is low self esteem that makes you downplay the significance of Nigeria being richer than 73% of Europe. You would probably be praising those countries if it is the other way around.
That GDP of Nigeria is even understated. By next year when the CBN e-evaluator would have started capturing most of our exports and imports, many of you will realize that your poverty in the midst of plenty is poverty of the choice of negative mindset, indiscipline and laziness.
There is a reason foreigners are trooping in . What you call problems and go on the social media to lament and go is the opportunity creating wealth for them and some resourceful Nigerians.
All that most of you want is easy and free money like crypto, ponzi, bet etc while your hearts are filled with bigotry and hatred for our leaders ,especially PMB.
JagabanB: You have any evidence to back it up? From the look of things, everyone seems to be thinking.
Most people on this thread don’t agree with what the economist said.
Even on the comments section of the video. Most didn’t agree. People thought that he was absolutely crazy. No financial or economic institution in Nigeria or globally will take his idea seriously. It’s a joke.
You can’t expect the economy to be large with the rate of devaluation. As naira devalues, the GDP becomes much smaller.
We are still not serious as a country, not with what is going on at the helm of government.
Na 2000 we dey go... Every one just make sure your seatbelt and airbag dey alright
Our currency will end up like the Iranian, Venezuelan I agree, that’s why the country’s GDP is in free fall. IMF predictions for this year at $252 billion from almost $400 billion last year. Everyone is losing money even the rich.
With the dollar, Naira fluctuates a lot. But it depreciates much more than appreciates.
With the pound, the naira isn’t fluctuating as much but it depreciates way more than appreciates. Last year pound was like 800. Now it is 2,021 NGN to a pound.
After Jagaban is done, Naira will be 5000-6000 to a dollar and 8000-10000 for a pound.
Naira will never appreciate meaningfully ever again.
Johnjustice: If we sell in naira, naira will appreciate faster, in this case we are being active, rather than being passive. When naira appreciate the value of our loan servicing payments will not be as high as it is now, we can pay up faster. It's all about demand and supply, it applies in all cases. If Nigeria sells it's oil in naira, nations will buy naira from us to buy the oil, the demand for naira will push up its value. It's all about demand and supply...this is why when the market is flooded with dollars the price crashes, and when unpatriotic Nigerians hoard it, there is scarcity and the price goes up.
This dollar appreciation is a big problem to Nigeria, if we can combat this, then we will achieve prosperity faster.
Buy Nigeria goods and patronize Nigerian services, government should continue to use monetary and fiscal policy measures to protect the naira, like flooding the forex market and regulating tightly. Regulating is important that is why we have CBN etc.
Nigeria stops selling its oil in dollars.
Didn’t you see what happened to Libya, Iraq, Venezuela and so on?
femisplash: By a stroke of genius, the President had ordered the CBN be in charge of receipts of oil revenues, a departure from decade-long misappropriation of crude oil sales. It therefore enhances CBN's ability to stabilize the currency. The insinuation that CBN borrows to sell to banks and BDCs should be disregarded.
2. Clearing of $7billion backlog has done the economy so much good. Investors no longer have the fear of their funds being trapped.
3. Oil production is on a steady increase. Although, a component volume of it had been sold in the future, however, the significant increase in production is offsetting the shortfalls. Moreover, oil price is up.
4. The market is gaining back investors' confidence. Following MPC meeting in January, investors reacted positively, total foreign portforlio recorded $2.3billion in febuary, purchases of naira assets stood at $1billion, oversea remitances went up greatly, FG bonds was oversubscribed, all these helped create more liquidity and increases market supply.
DMerciful: When Nigeria was number 1 economy, our oil export was 2.4 million barrels per day, now its 1.5 million. Exchange rate was about 200, now its 1200 but you believe we have reasons to be number 1.
What will take us to number 1 when oil output has been stagnant at 1.5 million barrels per day for a long while due to oil theft by govt and soldiers?
India got independence in 1947, so they are bit ahead of us in terms of technology, hence their recent moon landing.
But we are catching up.
Most importantly, we have the manpower to pull this off.
We have capable Nigerian scientists at the National Space Research and Development Agency (NASRDA), Abuja, and also numerous Nigerian scientists working at various space agencies all over the world, including NASA.
Nigerian scientists have built satellites which have been launched into space, and are currently hovering the Earth in outer space.
Fully designed and built by Nigerians.
''NASRDA has, over the years, shown a pivotal role in its deployment of expertise in the design, building and launch of Nigerian satellites. These include NigeriaSat -1, NigeriaSat–2, NigComSat-1R and most importantly, the NigeriaSat-X, which was designed and built to flight standard by Nigerian engineers and scientists.''
lastkingsman: It's a simple math. if our economy is 1.5trn USD, that means our gdp per capita is $7,500.
Now does average/middle-class Nigerians make $7,500 (12m naira) in a year?
APC is very good at cooking figures. The reality is 200bn USD and by the time Jagaban is done, it will be $100bn. They can cook whatever figures the like, reality is reality
Very true, Nigeria’s GDP will likely shrink to by half. Nigerian GDP is nowhere $1.5 tr
Kukutenla: This is exactly how Lagos was built. By the time all these strategic moves start yielding fruits, Nigeria will overtake US as the largest economy in the world. To build a house you first have to destroy it. And we all know Rome was not built in a day not to mention Lagos. Lastly, all what we are seeing is the effect of disastrous leadership over the years. BAT is correcting errors and decisions that should have been made since 1999. The administration before him looted all the money just like the administration before them. It is only BAT that will not loot, he will not shy away from making bold decisions even if it makes him unpopular and he will do the needful to set Nigeria on the right path unlike others before him. Signed Zombies
Treadway: Of course SA is now the biggest. I said that since last year on the below thread. Painful part is we aren't reclaiming that position anytime soon. This quoted figure is from around Sep/Oct last year. Our financial position as at today in dollar terms is certainly under $300b!
I can see the APC pro-bono spokesman freestuffsng viewing🤣. Just a paper loss right? Sukkot, bro see how Tinubu just rubbish our collective productivity. Me wey dey use our GDP brag for travel thread arguments in 2022, sadly I no get mouth again. Darn shame really.
gforce5: I had a conversation with pansophist, Tenzagent and Gerrard a few days ago about the ease of traveling within the West/developed world and the poor state of the Nigerian passport. As an Immigration lawyer, I help clients to process their documents and give them immigration advice. What got to me is that as a Nigerian, you need to have a certain amount of money just to get a visa... Take the British High Commission for example. You need to show proof of a decent bank account for the pass 6 months in order for them to process your visa. In most embassies, you need to show proof that you have good "ties" to your country. Just think about it. You need to prove that you are very comfortable in order to obtain a visa.
Meanwhile, Freddy based in Ipswich, England, with no money in his account, can travel to Spain or Morocco with only his passport and the total price for a return ticket is 100 pounds . Even better, Pierre the security guard in Marseille, can decide to travel to Germany, Austria, Italy and Spain with only his ID card and the total cost of the trip, if he books on time, would be nothing more than 300 Euros . Meanwhile, Wale, a chartered accountant based in Lagos, would have to have at least N3million in his bank account in order to get a visa and a decent flight ticket to that same Spain . Just think about it. Nigerians are taking for mugs by both our fellow Nigerians and the international community.
As yourself why a British Airways flight ticket from London to Lagos costs about $2000 for a six hour flight while a flight ticket from London to New York is about $600 if you book in advance. A flight ticket from Lagos to London is the same amount as a flight ticket from London to Johannesburg. This is despite the fact that a flight from London to Jo'berg is 10 hours.
So when I see Nigerians brag that all you need is money to enjoy Nigeria. If you need to be rich just to enjoy the basics of life then you live in a third world country. If you need to be very comfortable in order to travel for holiday, then it says a lot about your country.
Nigerian GDP has sank its now at 250 billion USD because the naira has gone down the toilet.
gforce5: This is my grouse with the average Nigerian. Poor and very arrogant. We make so much noise for no reason. Nigerians love to overestimate their importance in global affairs/politics.
Africa is like a fart on the global scene. You won’t even smell it sef. It’s a black man thing inflated pride and ego. There are multinational corporations like Apple, NVIDIA that have market capitalisations larger than the entire economy of Africa. Africans are in dire need of a reality check.
Nigeria represents around 1.2% of global GDP and Africa represents around 2.7% of global GDPs The world will not notice that less than 3% of the global economy is gone if Africa disappeared from existence.
Another thing that annoys me that many Nigerians do is they use pictures or cherrypick images to show which country is more sophisticated. And it’s sad because you’re lying to no one else but yourself.
Per capita, Nigeria has a lower GDP per capita than even Haiti.
Politics › Re: Nigerian Economists Believe Our GDP Should Be about 1.5 Trillion Dollars??? by Sladem05: 8:45pm On Aug 10, 2024
. Even better, Pierre the security guard in Marseille, can decide to travel to Germany, Austria, Italy and Spain with only his ID card and the total cost of the trip, if he books on time, would be nothing more than 300 Euros 
. Just think about it. Nigerians are taking for mugs by both our fellow Nigerians and the international community. 
