₦airaland Forum

creativehubb:
GDP means gross domestic product, this is a total of revenue and assets a state or business has or earns, including IGR, royalties, investments, assets, foreign receipts (paid in by indigenes abroad)...IGR is indeed the most fundamental indice to judge a state by, if a state don't earn good IGR over a long period of time, it's assets decays or are sold off, it's a matter of time before bankruptcy comes calling.

What is revenue, revenue is earnings, what is IGR, IGR means Internally generated revenue. States earn IGR from a number of areas not just taxes, Lagos state earns a lot from it's investments, and assets it created.

Seems you fools don't understand English. If you don't earn revenue your state is a useless liability. Revenue, earnings is what you use for everything...you fools can have buildings but without productivity and IGR, your state remains ghost towns, those buildings are not assets...no economic viability, no IGR, just a parasitic state.

NB: when they say product in economics, it means an end... products can be in form of services, in economics products means value...gross domestic product means gross domestic value, assets and investments creates value, and IGR means revenue inflow from within the state, this means value that is derived within the state.

You need to go back to secondary school, seems simple economic terms confuse you.

Dumb head.

nawa o

Abagworo:
Why can't you make your comment without mentioning Igbos? The Rivers State you mentioned isn't it still mostly Igbo by ethnicity?

He doesn't know, he thinks this is all about Igbo.


Ndoki Igbo group are domicile in Abia, Rivers and Akwa Ibom.

Curse777:




Your Gross Domestic Product increased, because you now produce gas for Nigeria

Your IGR remain stagnant because the facility belongs to Nigeria and Imo State doesn't get any new tax except previous 13% derivative


.

Well, I can't redeem you since you already think that federal government own the gas plants.

Theres no way to help you

creativehubb:
You people always sound stupid, maybe you think everyone is as stupid as you. IGR constitutes GDP...IGR means revenue inflow, you generate revenue by the quality of assets and investments you have. Stop talking like a fool, this is nairaland with people wiser than you Igbos.

IGR does not contribute to GDP, I know you failed economics or passed it via special centre or some sort of malpractice but I can help you.

GDP is gross domestic product, it's means the value/amount of production happening in your state. Meaning, the amount of finished products coming out of your state which is an indication of the economic worth of your state.

IGR is a factor of how efficient a government can tax existing businesses in the state, whether or not they are production based businesses that add to the GDP of the state.


Did you skip economics classes? This is why we always preach that children pay attention in class else I wouldn't have to teach an adult basic economics that he would have grasp long before now.

Beremx:
So you think it's all about gas exploration? How does gas exploration increase the IGR of a state?

Where did i mention that it does?

Even though it does anyways, but I never mentioned anything about igr.

creativehubb:
Compare southeast state to southeast state, comparing Lagos to any southeast state is like comparing heaven to hell. Check statistics southeast states are very poor in IGR, poor in investment, poor in security...you people are at the bottom.

Well, IGR wise. It's GDP that later translates to IGR, and IGR is not a true indication of the economy of a place.
If a state has more GDP than another but the other has more IGR, it's an indication that the latter is taxing more than the former.
This is basic for anyone who attended a secondary school to grasp, economics was a compulsory subject in school.

Philistine:
Wikipedia GDP figures? Who computed it? Now I understand you guys are jokers. Anything to masturbate your deflated egos.

I computed it. Me and my boys in Aba

Imo state is now the second largest economy in Nigeria after Lagos state. It's not surprising since Nigeria has been investing a lot in gas production recently and Imo state is the largest gas producer in Sub-Saharan Africa.

Imo state just surpassed Rivers and Akwa Ibom to become thr second largest economy in the country because of this. We expect the figures to froglip the moment seplat and Shell gas plant, both with almost $3billion start their operations. The level of economic renewal this will cause for Imo state will be overwhelming.

This is why APC wants to keep Imo state by all means, Imo state is the future of Nigeria and whoever controls Imo state will get the money. Oil is becoming stale, Rivers and Akwa Ibom will gradually be come irrelevant in years to come.

Another state where I expect to see growth in economy is Abia and Anambra state.

Philistine:
Then show us the original computation on their sites. Lies and falsehood will not take you guys far in this country.

Why are you triggered?
Even Wikipedia 2021 GDP figures of Nigerian states was computed in ñaira and Imo state was 4th largest as of 2021 in Nigeria, behind rivers, LAGOS and Akwa Ibom.

Imo gas industry is booming and she's the largest gas producer in West Africa, it's expected that her economy will grow drastically since gas is the future. Stop being triggered

Philistine:
When did world Bank starts releasing GDP computation in naira? The table is pure falsehood. Let him show s the source of the GDP computation on their sites

Dollar can be converted to naira. You are sounding like its impossible to convert dollar to naira figures that Nigerians can easily understand

Philistine:
World Bank computes GDP in $US not in ñaira, if you insist the table is accurate, then show us the original computation from World Bank. You guys should stop spreading falsehood just to masturbate your egos

You seem not to understand how things work

Philistine:
Nigeria's GDP is over $400bn dollars, while the table shows much less, the info is incorrect.

that is not how it works.

fnep2smooth:
My Beloved State



Na Hospitality dey move the state plus high inflow of students studying in the state.
FUTO
IMSU
Umuagbo
Alvan
Nekede


Plus all those nursing schools with catering,
Thats why in every school teacher in Nigeria, there iss more than 3 Imo state teacher there.

Hotels and cool spot everywhere.

i no dey surprise

No, it's the gas industry that is just starting in Imo state

Yes, a man is more designed to cheat than women. I hear some ladies saying that when your husband cheats, you should retaliate. Na you go tire.

A man can decide to impregnate 1000 women 3 years if he wants, you as a woman cannot carry babies for 1000men in your lifetime. He's more designed to be with multiple partners than you.

This is not to say that I am encouraging men to cheat, but the truth is that a cheating man is more forgivable than a cheating woman. The same way it's a taboo for a woman to pay groom price to marry a man, it's also taboo for woman to cheat. This how the society works and you just have to deal with it.
He who paid the price, gets the cheating right ( seem almost like that).

While I don't encourage men to cheat but don't think that you can cheat back when a man cheats. Na both of una cheat but na you go most likely go back to your papa house with shame all over you.

Uyi2017:
Let's put money aside, what else is your guy bring into your relationship?

money is almost everything

spagettiluv:
it seems the odor oozing from those gutter is affecting your reasoning

Una too dey argue. Kids everywhere on nairaland.

BeautifulMind2:
Anambra state

this guy. What joy do you derive from always picture-arguing?
Leave this matter

EmperorCaesar:
Not mumu

Argue with him if u have facts to counter that journal


At least he has a reference...do yours with a reference

How do you argue with someone who cherrypicks facts and also is notoriously argumentative and has never change his stance on any issue.
How many times have you seen omokri change his mind after someone argued with him?
Do you think he can be always right?

All of una n mumu

Na mumu dey argue with omokri

KingKO22:
You have point but one thing you need to consider is that the infrastructure in Lagos are overused by congested population.

Not that they can't do better but Lagos is not just about those places you mentioned.

Everywhere in Lagos has to be touched. You knw there is no bush in Lagos as you have them in other parts of the country.

doesn't that also translate to more revenue?

SpaceTour:
You are an ediot and you are not from Anambra. Yes, Anambra international airport is the busiest in igboland, why is it paining all of you ediots. I have said it severally na only me fit una, if not me no other person can clip you guys wings. I will say it again, Anambra international airport is the busiest in the whole of igboland. Make e dey pepper you guys, if that will threaten una fake Igbo unity let it be

foolish boy.

I visited Abuja last week and I have visited port Harcourt, Kaduna and Enugu in the past.
I realize that Lagos roads are substandard after leaving Abuja. The only major road that is of standard today in Lagos is Gbagda to second rainbow, other are substandard and maybe Yaba to oyingbo.

I went to the office yesterday on the mainland, even on 3rd mainland Bridge, there are little potholes. Ozumba Mbadiwe to Lekki to Ajah is an outdated road. You cannot drive smoothly.
Even in the heart of ikoyi, Alfred rewane, is like a dead road by Abuja standard. Awolowo isnd burdilion are wide enough.


Port harcourt has better roads than Lagos. And I'm not even joking

I came back from Abuja, I was like if not for business, wetin person Wan dey do for this Lagos. Suffer

Jamestown123:
weytin make you never go algeria since? You no even need flight, you fit cross borders

You are a foolish person. You better open your brain and see the message in the post

chimex38:
Somepeople deemed ur post worthy of engagement and trying to argue constructively.. Even if it's in disagreement to yours.. That's the beauty of forums and discussions..
And your insulting every person under your very own post?...

I don't think that engagement is constructive.
It will never make any sense to me that Nigeria cannot pay more than 30k minimum wage

nairalanda1:
Half does not mean we can earn as much as half as the Algerians.

Plus we are a broke country...and this leads to my final point.

We have to change our economy from reliance on oil to being that of an exporter of industrial goods...like China. THEN we can have a GDP that makes Algeria's look useless and poor.


If you don't get my point, sorry


And by the way, don't be abusive to me again.

Whose fault is it if we are Broke? Stop defending polticians dude.
You sound sick

You are not sounding like someone with a thinking cap. Who got us broke? Me or the politicians?

There's no excuse for these crazy polticians. They are ruining us

nairalanda1:
Still in essence makes the argument that Algeria has a higher GDP because at the end they have a smaller populaiton, and as such the Gdp per capita would be higher than Nigeria that has a larger GDP.

And by extension, Algeria can afford higher minimum wage and some form of subsides.

Nigeria might be like Algeria if our populaiton was 45 MILLION. Cut it down to 5 million and we would be like Dubai.

Plus, you missed my ultimate point really.

Good evening.

Nigeria has more than half of Algeria GDP per capita. Nigeria should not pay less than half of the minimum wage.

It's that hard for you to grasp?

JaredH:
oya relocate to Algeria and never return back

you are stupid person if that's the next thing you comes to your mind

flokii:
Did you bother to think about why Algeria is like that?.. It's because the citizens of Algeria love their country, they don't go and queue for Uk, USA visas and be paying millions for proof of English test like the idiots in Nigeria do in the bid to japa. The remaining ones in the country are nothing but diasppointment, thieves all about personal gains and their own pockets.

There is a verse in the bible that talks about individual prosperity in relation to their place of origin.. it says whosoever seeks the prosperity of Jerusalem (Nigeria in this context), he too shall prosper.
In same vein, whosoever seeks the downfall of his/her country won't make headway in life no matter who prays for him/her.

if Nigeria is working, every citizen will love it.

It's okay not to love what's not working. Tribalists like you is one of thr reasons Nigeria can never work

nairalanda1:
Algeria has 45 million people and produes approx 1.5million barrels of oil a day

Nigeria has 220 million people and produces approx 1.5 million barrels of oil a day.


Putting it into perspective, assuming oil money was shared in a day.

Algerians get 28 dollars from the oil revenue per day

Nigerians would get 58 cents or 0.58 dollars from the oil revenue per day.

We cannot compete with Algeria unless we reduce our population by magic to 50 million or less people. Esepcailly since we are about 5 times larger than the Algerians, AND EARN THE SAME REVENUE as they do.


There is a reason why we cannot be like Algeria. And yes, one quarter of 101000 gives us approx 25000 naira...which is close to our mininum wage of 33000 naira.



Now before you start

1.This shows our government past and present is useless....because they did not diversify the economy.

2.This also shows we make a big mistake relying on oil...why can't we diversify.

3.If Algeria runs out of oil...wahala.

That's why I used GDP per capita slowpoke

You see that Nigeria is a useless place?

GDP per capita In Algeria is $4,180 while in Nigeria it's $2,532.

The minimum wage in Nigeria should be at least N80, 000

Considering the renoval of subsidy, minimum wage should be 120k

BossGerald:
I used to think you're intelligent

Because you think I'm not intelligent does not man you are right.