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68816419:
homes in Nigeria

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lag

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lagos

tylann:
Nairobi
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Economic powerhouse
Lagos — or Eko as it is known in Yoruba — is worth the fight. Although Lagos state is Nigeria’s smallest by land area, Lagos city is Africa’s largest, a densely-packed megalopolis that is home to an estimated 21 million people.

Nigeria’s economic nerve centre, Lagos alone is responsible for around 30% of the country’s GDP. If Lagos were a country, its economy — worth $136-billion in 2018 and rising fast – would be the seventh largest in Africa, ahead of Cote D’Ivoire and Kenya.

Lagos’ wealth can partly be attributed to its strategic location along the Atlantic coast. It is host to Nigeria’s two busiest ports — the Port of Lagos and Tin Can Island Port — and extensive (albeit congested) air and road connections.

“As a result (of its positioning) the city is able to attract multinationals and skilled manpower,” says Mukhtar Jimoh, a financial consultant with the Lagos-based Financial Derivatives Company. “The average household income in Lagos is much more higher than in other parts since there’s a positive relationship between skills and remuneration.”

tylann:
Nairobi
Post Lagos I will post Nairobi
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IMF: Lagos to Grow $136bn GDP by 4% in 2019
2019 budget will focus on project completion, says Ambode
THISDAY27 Dec 2018Gboyega Akinsanmi
With its Gross Domestic Product (GDP) currently standing at $136 billion, Lagos economy will record four per cent growth in 2019 while national economy will grow by 2.8 per cent, the International Monetary Fund (IMF) has predicted.

This prediction was contained in an address delivered by the state Governor, Mr. Akinwunmi Ambode, at the meetings of the state’s foremost social clubs – Yoruba Tennis Club and Island Club, organised on Tuesday.

Citing the IMF’s recent statistics at the meetings, Ambode disclosed that Lagos, on a stand-alone basis in the year under reference, would achieve four per cent growth in its GDP, which according to him, currently valued $136 billion.

Unlike national economy, Ambode pointed out that the social intervention initiatives of its administration would also go a long way to facilitate serious reduction in unemployment rate, which he said, suggested that the 2019 economic outlook was quite positive.

The governor said, “According to IMF, the Nigeria GDP will grow from 1.9 percent in 2018 to 2.8 percent in 2019. Lagos on a stand-alone basis will achieve over 4 percent growth in GDP. By implication, this could be more if the congestion at the port and the negative effect this has on the economy is addressed.

“We expect that the high rate of unemployment will reduce with various social intervention programmes of the state and federal governments geared towards financial inclusion and liquidity support to micro, small and medium enterprises.”

Specifically, Ambode said the state’s 2019 budget would be dedicated towards the completion of ongoing infrastructural projects, creation of more jobs, supporting businesses to thrive, and strengthening the security architecture of the state.

He recalled the activities of his administration in the last three and half years, noting that it was particularly fulfilling that the state had made tremendous progress in all sectors of the economy and had become more globally competitive and strategically positioned among the major city-states worldwide.

“Three and a half years down the line; our state has progressed in all sectors of the economy. We have charted a clear path to the destination we have all dreamt about and desired. Today, our Lagos has become more globally competitive and strategically positioned among the major city-states of the world. Our state has become a top destination for business and tourism and it can only get better.

“One of the key promises I made at my inauguration on May 29, 2015 was to make our state work for all; to spread development from the already congested city centre to other parts of the state with massive infrastructure development. The thinking has been to make every part of the state economically livable. “We have undertaken projects in all sectors of the economy with the sole intention of making life better for our people. All of these and similar initiatives were made possible by the personal taxes of high net worth residents of our state represented at this gathering which account for a significant percentage of our IGR. I want to use this opportunity to thank you so much for providing the resources, which have empowered us to make a positive difference in the lives of all citizens of our State,” Ambode explained.

The governor added it was obvious that the state could not afford a break in trajectory of progressive governance at this point in time, thereby urging the residents of the state to continue to support the ruling party in the State.

He cited the recently launched Lagos Health Insurance Scheme Bill designed “to guarantee access to quality healthcare delivery for all Lagos residents. It is instructive that the bill for the scheme was signed into law by his immediate predecessor, Mr Babatunde Fashola, while the process for its implementation was kick-started by his administration.

“This is the beauty in continuity. We have SanwoOlu’s assurances that the initiative will be sustained. Lagos State cannot afford the risk of a break in the trajectory of progressive governance at this crucial stage of development. The future is bright and assured. We must maintain continuity of progress in the State.”

Ambode commended the two foremost social clubs for their immense contribution to the development of the state.

He equally urged them to continue to play key part in taking Lagos into a brighter and more prosperous future.

LAGOS STATE’S ECONOMY BIGGER THAN THE ECONOMY OF 42 AFRICAN COUNTRIES AND 19 PUT TOGETHER!!!
Early this year the present Governor of Lagos state while still a governorship candidate of the All Progressives Congress in Lagos State, Mr. Akinwunmi Ambode, said if elected governor, his administration will ensure that the GDP of the state which currently stands at $91bn, is doubled.

According to a statement by his Director of Media and Communications, Mr. Steve Ayorinde, Ambode said this during meetings with business leaders in the state.

Ambode explained that the GDP of Lagos State is estimated at $91bn, which is higher than the GDP of 42 countries in Africa including Kenya with $66bn, Ghana with $61.7bn and Tanzania with $58.44bn.

“In fact Lagos’ GDP is equivalent to the GDP of 19 African countries added together! I dare say that Lagos’ GDP could double the estimated amount, as these figures do not take into account the informal sector, which is believed to be just as large if not larger than the formal sector,” he said.

Ambode, who holds a Master’s degree in Accounting, said his administration would ensure improved security and by so doing, create a 24-hour economy.

The former Accountant General of the state said, “Lagos will be open for business 24 hours a day and seven days a week, making it a true 24/7 economy. For a mega city to thrive, we must have a holistic plan to make the city attractive and investment-friendly both domestically and internationally.

“The importance of Lagos and how its resources are managed have national implications, either positively or otherwise. Lagos is the most populous city in Nigeria and the seventh fastest growing city in the world. We are home to approximately 21 million people, and we are the economic heartbeat of this great nation and indeed West Africa at large. It is in the interest of this country that we all jointly and collectively play our part in ensuring that Lagos remains prosperous.”

tylann:
Nairobi
Post Lagos I will post Nairobi
If you win I will log out never to return
People will judge

see why lagos will not compare with nairobi
Lagos is a worldclass city it’s economy alone is the 5th largest in Africa larger than Kenya as a whole country in GDP .The richest man Dangote a Nigerian and lagos resident is building the worlds biggest refinery in lagos and soon completed will boost local GDP to world record figures.

Lagos has Eko Atlantic city the island is selling out fast with apartments at $400k usd and land around 1million dollars per plot.

Lagos has some of the highest Hotel rates in the world rivalled by only SA/ Dubai google it

The lagos startup scene is also magnificent Jumia a lagos based e-commerce website just listed on the NYSE the only African startup to do so and it was founded in lagos

Mark Zukerberg had his first stop in 2015 was in Lagos and he took a famous picture jugging in the morning with normal people on the ikoyi bridge.

Lagos has the highest concentration of Billionaires in Africa 7 out of 10 African billionaires reside in Lagos

Nollywood Africas No1 and worlds No3 movie industry worth billions of dollars is headquartered in Lagos African Entertainment capital

All the biggest African Musical artists Reside in Lagos they are ranked in Forbes THE LIKES OF Davido /Don jazzy/ wizkid are very well off financially and outsell every other African artist by a huge margin… I neednt say more Nigerian Entertainment is enjoying world attention at the moment

[Computer village ]market located in ikeja Lagos is Africas biggest Tech market with a daily revenue estimated at 2Billion Naira it has all the technology sales and buys unrivaled by any other city or state…

Victoria island/Lekki lagos has the most expensive estate in Africa in particular one called [Banana island ]has Africas richest residents like Adenuga Mike the founder of Telecom Giant Globacom one of the richest black men to mention a few and is as our own version of Beverly hills in the Us

Nairobi cannot compete with Lagos ever in all ramifications maybe for wildlife or tourism but lagos is miles ahead in Sophistication ,Economy, wealth commerce and Technology enterprise and entertainment!!

Maybe Johannesburg or Cairo but still those cities aren’t richer maybe just more visited

Lagos is not at all threatened by boko haram the insurgents never even dream of coming to the South that will be their biggest mistake

Update..

Lagos state government is to commence a cable car as we speak in obalende lagos island and will be commissioned soon how many African Cities can boast a cable car?!

the state the city is lit at night and never sleeps!!

UPDATE keep the UPVOTES coming …Lagos home to the first Merryot hotel the worlds most expensive hotel is currently constructing a lagos one….the best is yet to come Nairobi simply cannot comprehend!!

With GDP in 2014 pegged at $90 billion, Lagos’ economy stands as the 7th largest in Africa- bigger than Cote d’Ivoire and Kenya, two of the continent’s most promising economies.

IronGalaxy:
why prove something so obvious like the colour of sky being blue? besides the thread was over at page 3, but knowing Nigerians.....even the quality of pics from both countries is stark different

i think the thread has gone beyond proving anything, people here are just learning and comparing with each other. even though i post Nigeria pictures, i does not meant i do not love kenya, i have been to Niarobi twice, and i like the way it is organised city, i also love the weather and green environment.

68816419:
Is world bank more accurate than ur government ?

The World Bank has estimated that 87% of all the poor people in Nigeria are in the north. ... Almost half of all poor lived in the north-west and the north accounts for 87 percent of all poor in the country in 2016. “Poverty rates in the southern zones were around 12 percent with little variation across zones.Feb 11, 2020

World Bank: 87% of poor Nigerians are in the north | TheCable

this could be that the boko haram insurgency has displaced these people from their means of livelihood, couple with the culture of marrying many wives and almajiri system practiced in the north. besides, most of the population in the north are people from the neigbouring countries of niger and chad, they troupe in unchecked. the north allows them in for political purposes. lease lets not be misinformed, understanding the word poverty in nigeria should be put in the right perspective.

IronGalaxy:
why prove something so obvious like the colour of sky being blue? besides the thread was over at page 3, but knowing Nigerians.....even the quality of pics from both countries is stark different

if the page stopped at 3, why are they still grasping to prove the obvious? they should have dusted the page a good bye !!!

IronGalaxy:
Lol, you Nigerians like arguing the obvious don't you? This thread it's on it's 6OOO+ page just because you refuse to acknowledge again the obvious fact than Kenya is a much developed country compared to Nigeria, now you're trying to compare yourselves with South Africa while it's pretty obvious you have it worse over there. Lol, at it's funny

the thread says Kenya is ahead of nigeria in all Aspect, but they are yet to prove it, that is why the thread is still on.

The Republics of Togo, Niger and Benin owe Nigeria a total of N29.97bn for the electricity supplied to them from January to September last year, according to the Nigerian Electricity Regulatory Commission.

Nigeria, through its electricity transmission company, supplies power to these countries, which are classified as international customers in the Nigerian power sector.

Niger’s power firm, Societe Nigerienne d’electricite, failed to pay a total invoice of N3.01bn it received in the first quarter of 2019; N3.69bn in Q2; and N4.1bn in Q3.

Communaute Electrique du Benin, a power firm owned by Togo and Benin, did not pay N9.74bn for the power supplied to it in Q1; N7.16bn in Q2; and N2.27bn in Q3.

NERC said in its latest quarterly report released on Friday that the international customers made no payment for the total outstanding debt in Q3.

“The Nigerian government has continued to engage the governments of neighbouring countries benefitting from the export supply to ensure timely payments for the electricity purchased from Nigeria,” it said.

The regulator said the financial viability and commercial performance of the Nigerian electricity supply industry continued to be a major challenge.

According to the report, a total invoice of N179.66bn was issued to the power distribution companies for energy received from the Nigerian Bulk Electricity Trading Plc and for service charge by the Market Operator in Q3, but only a sum of N58.81bn was settled.

The government-owned NBET buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to the Discos, which then supply it to the consumers, while the MO is an arm of the Transmission Company of Nigeria.

NERC said, “Although the Discos fully met the minimum remittance for MO, the average aggregate remittance performance to NBET was 32.73 per cent, with performance level ranging from 19.43 per cent (Jos) to 50.03 per cent (Eko).

“This is slightly lower than the minimum remittance threshold prescribed in the orders on minimum remittance issued to all Discos in July 2019 with Enugu and Ikeja failing to meet their remittance obligation during the period.”

The regulator added that following the commencement of enforcement of the minimum remittance order, all Discos had since fully complied with their respective minimum remittance thresholds.

“Notwithstanding the slight progress recorded in the third quarter of 2019, the financial viability of the Nigerian electricity supply industry is still a major challenge threatening its sustainability,” it added.

Last month, the West African Gas Pipeline Company Limited said it was resuming its supply of natural gas from Nigeria to its customers in Republic of Benin, Togo and Ghana.

WAPCo disclosed this while announcing the successful completion of the cleaning and inspection of its 20’’ offshore pipeline from Badagry in Nigeria to Takoradi in Ghana.

WAPCo is the operator of the West African Gas Pipeline, which was built to supply natural gas from Nigeria to customers in Republics of Benin, Togo and Ghana.

Source: https://punchng.com/togo-niger-benin-owe-nigeria-n30bn-for-electricity/

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done with what?

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ph

how come i have not seen portharcourt rivers state

This is a great write up coming from the CBN Governor, but unfortunately he does not live by the principle he prescribed in the write up. he would not categorical say that he uses made in Nigeria car, shoes and wears, neither would he say that he eat locally made rice or that his children all school in Nigeria,neither do his friends or other Elites. The Elites to the best of my knowledge are the most unpatriotic Nigerians. the massage of the CBN Governor is not for the Poor Nigeria masses who constitute about 80% of the Populace but the Elites who swore not to see this country grow. the Poor masses who could not afford the Elite luxury goods which are mainly imported, makes do with the local alternatives. the Poor masses whose kids manage to travel abroad go their to hustle and bring the money home to add to our GDP. the Elite steal the Money we have here and export them abroad.

Life is an employer and the pay master! whatever you bargain is what you get when you deliver. the starting point is not the issue but what you make out of it. here, certificate is just a paper and does not matter, what matters is what you can deliver. some people can start with that and get to 500k or a million while some can start big and remain there or go down. it is in you mind. maybe your friend is among those who have this big boy mentality. when he should humble himself and get experience, after which he may decide to remain at that level or move forward.greatest investors in this life never had much certificates. Henry ford etc. it is all about mind set.

Sunnycliff:
What can #200m that will be shared among six states do in agriculture? How much is the cost of a single tractor or cassava cuttings and fertilizers? What about the agroprocessing machines?

All these are lip services just to gloss oil over a baby's mouth and divert his attention. All these money can't do anything commercial in agriculture, let the FG stop deceiving the gullible masses.
If it were in another sector you would hear of billions been earmarked for disbursement. Until we make impactful funds available in agriculture, we will continue to walk around subsistence farming which can't solve our food problems.
We need commercial agriculture with mechanized tools and equipments!

sir, i am here to correct an impression, the money is not N200m rather it is $200m loan given to Nigeria government by the World Bank to upscale impacts on the ground and strengthening development effectiveness of a well performing Fadama III Project and by aligning it to the then federal government Agricultural Transformation Agenda. The Project retains The PDO of Fadama III.

Recall that Fadama III Project which became effective in March, 2009 was a $250M Project and was a five year intervention, 2009 -2013. The Project Development Objective was to increase the incomes of Fadama land users on a sustainable bases, the Project was implemented in the 36 States and FCT.

The fadama III Implementation Support ratings have been satisfactory throughout the project life.
Monitoring and evaluation data reveal that the Project's impact has been consistent with expectations as set out in the PAD and evidenced by the following performance indicators: (i) the average income of beneficiaries across the country has increased by over 20 percent while almost 47 percent of the beneficiaries have increased their income by up to 40 percent (End of Project Target is 40 percent); (ii) yield of a number of primary commodities has increased by between 6 to 10 percent (End of Project Target is 20 percent ); and (iii) beneficiaries have realized over 25 percent additional increase in income from value addition of agricultural products. The Project is also contributing through capacity building of self-managed groups in substantial accumulation of social capital in rural communities. States have reached an advance
stage of floating a Fadama micro-credit scheme having met the mandatory N25 million requirement of the Central Bank of Nigeria (CBN) in their Fadama Users' Equity Fund (FUEF) savings accounts.


The Fadama III AF is being implemented in six core States of Kogi, Niger ,Anambra ,Enugu, Kano and Lagos, for four value chain of Cassava,Rice,Sorghum and Tomato.

However, there are opportunities for Production cluster States, in which other States that have indicated interest to join can avail themselves of.