But say , if the ease of doing business in Rwanda is so great, why don't they get massive fdi flows just like the Asian tigers did inorder to get industrialise.
AngelicBeing: Another Arab spring loading, I like the way Arabs come out massively to protest against injustice and rogues in power, Algerian president should listen to his citizens and step down, he has eaten enough sharwama, chicken, beef,, shisha, couscous in the presidential villa, it is time for him to step down
omohayek: For the exact same reason why millions of indigent Nigerians flock to Lagos, despite other Nigerians routinely calling it a "slum": the places they are coming from are even poorer. Besides, Algeria also happens to be right on the Mediterranean coastline, making it an ideal place from which to try to reach Europe, the dream target of not just sub-Saharan Africans but poorer Algerians as well.
For every Nigerian who migrates to a place like Algeria, there are probably 100 who do the same within Nigeria who you don't notice, simply because you take it for granted that such migration is permissible. Lagos wouldn't have such huge problems with slums and perpetual traffic-jams if indigent people from everywhere else in the country weren't continuously moving there and overwhelming any new infrastructure the city builds.
omohayek: Actually, you can blame it on colonisation. Algeria was run as part of France for over 130 years, with more than 1 million French settlers by the 1960s. It therefore received a far greater amount of investment than any of France’s sub-Saharan colonies ever did. Given such facts, the true wonder is that Algeria is now only barely better off than Nigeria, a testament to just how badly the Algerians ran their country after getting independence.
But if Algeria is merely better than Nigeria , why do Nigerians still run to live there ?
Edoziesmart: I can see that black are cursed from birth. It is very rare to see an Africa country inhabited by negros to be developed like what I'm seeing on this thread. See how all the whole countries in north Africa is developing rapidly while many countries in west Africa still live in a substandard house with mud brick and thatch roof. God why did I found my self in this hell called west Africa most especially being a Nigerian.
Before Nigeria will compete with northern Africa as a whole in development i guess it most reach a century.
The only thing our leaders know is to loot our money to Switzerland, without caring for the poor masses.
Algeria1 keep up with the good work. I'm enjoying the this thread to the fullness.
Just so you know , they are slums in Algeria and Algeria is just as corrupt as Nigeria.
grandstar: Gaddafi had 40 years to turn his country into a Dubai or a Singapore and he blew it! If he brought prosperity to his people, how would they have toppled him.
Why weren't the rich monarchies of the Middle East toppled? Because they brought prosperity to their people and also the monarchies bribe the citizenry with generous entitlements.
Instead of Gaddafi to apply free market economic policies or even pro-business, he preferred socialistic policies that held the country back
He is probably one of those conspiracy theorist that believed that the u.s masterminded the libyan civil war.
If Ghaddafi was that good , there would have been no Arab spring in Libya.
It's this same kind of stupidity that makes some people say Mugabe was a good man .
grandstar: Don't look down on Africa neither must you be taken away by the Maghreb
The Maghreb though richer per capita than most African countries isn't that rich. Algerias per capita is only $4,400 which is only doubles Nigeria's.
You have a few performers in the Maghreb in terms of economic reforms that have the capacity to become rich one day like Morroco and Tunisia.
I'll be honest with you, only Morocco for now makes the cut based on economic policies.
Many African countries aren't doing too badly. Look at Rwanda. Botswana is a higher middle income country and one day may join the rich world.
You have Ivoru Coast and Ethiopia which are both growing fast. Ghana isn't disappointing. Zambia is trying and can do better.
When I was in secondary, I was mesmerized by Sudan due to the stories a senior of mine used to tell when he was in that country. His dad was a diplomat.
As I grew up and read more , I realised things aren't as sunny as they look.
If Nigeria had been growing at an 8% rate rather than the 6% from 1999- 2013 and extended such grow rate till 2018, Nigeria's per capita would have been around $5,000, which is higher than the $4,400 of Algeria today
Algeria scores 156th in Ease of Doing business. Economic reforms will be hard in this country as there are lot of subsidies and the populace will fight tooth and nail to hold on to their spoils
Botswana can't hold a candle to the maghreb. It's gini coefficient is extraordinary , the third highest in the world , despite the fact that there is low corruption in Botswana and there is good governance.
It's extraordinary gini coefficient has made mince meat of it's high per capita.
Most of the Botswana people are subsistence farmers !!!!!
16 percent of Botswana are in extreme poverty.
Extreme poverty that in the middle East and Africa has been eradicated to 0.6 to 0 percent.
Despite a high per capita that should make it at worse like Russia.
grandstar: Don't look down on Africa neither must you be taken away by the Maghreb
The Maghreb though richer per capita than most African countries isn't that rich. Algerias per capita is only $4,400 which is only doubles Nigeria's.
You have a few performers in the Maghreb in terms of economic reforms that have the capacity to become rich one day like Morroco and Tunisia.
I'll be honest with you, only Morocco for now makes the cut based on economic policies.
Many African countries aren't doing too badly. Look at Rwanda. Botswana is a higher middle income country and one day may join the rich world.
You have Ivoru Coast and Ethiopia which are both growing fast. Ghana isn't disappointing. Zambia is trying and can do better.
When I was in secondary, I was mesmerized by Sudan due to the stories a senior of mine used to tell when he was in that country. His dad was a diplomat.
As I grew up and read more , I realised things aren't as sunny as they look.
If Nigeria had been growing at an 8% rate rather than the 6% from 1999- 2013 and extended such grow rate till 2018, Nigeria's per capita would have been around $5,000, which is higher than the $4,400 of Algeria today
Algeria scores 156th in Ease of Doing business. Economic reforms will be hard in this country as there are lot of subsidies and the populace will fight tooth and nail to hold on to their spoils
It's precisely because Algerias per capita isn't that high that I feel depressed.its just a mere $4000, but yet you still find Nigerians and ghanians going there to beg or do menial labor.
legendary4luv: I swear Algeria no be Africa! This is semi Europe...... I'm baffled. To all those people that can't make it to eu, Asia or north America....... Algeria is the way forward. God punish all our leaders!!!
The last point on the informal economy is a valid one. Many Nigerian small-scale, street corner businesses are not captured in our GDP computations, because we have not been able to accurately measure them and integrate them into the mainstream economy. That is why I respect economists like Hernando de Soto who have done a lot of work with regard to the value of the informal economy and how countries can leverage on the vast potential contained therein.
Addressing the point you made about GDP, it will interest you to note that even GDP per capita still doesn't adequately capture the economic well-being of the common man. Let's take Equatorial Guinea as an instance. That country has the highest GDP per capita figure in Africa and the 20th highest in the world ($36,515), which on face value is actually comparable to figures in Europe. But travel to that country and see how the average citizen lives. Almost all the wealth (which mainly comes from oil, anyway) has been cornered by the ruling class led by that thieving lootocrat called Teodoro Obiang Nguema.
For me a better model of capturing the average wealth of the common man will be one that adjusts the GDP per capita by the level of income inequality (the Gini coefficient). So in Equatorial Guinea's case we would multiply the GDP per capita by a factor of 1-Gini (since a higher gini means higher inequality). Given that the country's Gini is about 65%, our adjusted GDP per capita will be $12,780, a much lower figure which will more accurately approximate living conditions.
How convenient for the only sub Saharan African country with a high per capita to he ruled by thugs ? This is a country that could have been like Saudi . It seems black Africa has bad luck .
omohayek: The Vietnamese communists are certainly plagued by endemic corruption, but at least they are able and willing to learn from the examples of their more successful neighbors, which is far more than can be said for Nigeria's political class. Even on the rare occasion when Nigerian politicians aren't personally kleptocrats, they more than cancel out this virtue by their utter economic illiteracy and mulish refusal to heed expert advertise - Buhari being the most notorious case in point.
TonySpike: Following the report of the World Economic Forum for 2011/2012, Nigeria is ranked 120th out of the 142 countries sampled in the quality of roads category. With a point value of 3.1*, Nigeria ranks below the standard mean falling behind many African countries such as Namibia(31), South Africa (43), Tunisia (46), Rwanda (48), The Gambia (52), Botswana (53), Kenya (71) e.t.c. Only six African countries appears to rank below Nigeria, they are Madagascar, Lesotho, Burkina-Faso, Angola, Mozambique and Mauritania.
A picture showing this ranking is available below...
*This rank means that Nigerian roads may be largely underdeveloped by world standard.
ezeagu: You're ahead of them in a stagnant state, only giving the illusion of progress through averaged data and unreliable statistics. Funnily enough, you've been very quick to mention how the other Asian states were helped by the United States, but there's no elongated discussion about Vietnams history here and how the US is known to have isolated them for years.
The nominal per capita for Viet is 2,553.987 projected for 2017, and 2,741.226 for 2018, that is how fast they are growing. They have set their sights firmly on developed status, by 2020 Nigeria will be officially behind them (Nigeria is already behind them). In 2016 they grew by over 6% while Nigeria lagged at 1.6%.
They have huge growth in tourism, while people actively avoid Nigeria, even those that travel to Africa regularly.
First of all, Nigeria completely relies on oil, while Vietnam has a more diversified economy. The average life expectancy of a Nig is 52 years and for Viet it's around 75. Vietnam still has issues, but it's an investment magnet that's being eyed by everyone, the political climate is sturdy, and there aren't a whole bunch of IDP camps and mumus blowing themselves up all over the place, etc.
Not to mention Ho Chi Minh city, commercial capital, has nothing nearly like Makoko or are removing them and upgrading the people living, it isn't a huge heap of garbage like Lagos, Vietnam has steady electricity and running water.
Christianity Etc › Re: "Religion And Poverty Are Dating" - Daddy Freeze Reacts To This Tweet by urahara(m): 2:05pm On Mar 18, 2019
