₦airaland Forum

cjudy:
Person wey him career don die. Al Hilal stop wasting money on dead pessi

Person wey him career don die na him no fit win the last world 🤣🤣
Him Chop bench tire. World cup no be him mate

Beverlyjean:
Messi minions are just jealous of Ronaldo...they wish Messi was Ronaldo... theyvare the typical type of people that condemn what they don't have...
Condemned him not winning UCL with juve
Messi does worse with psg
Condemned Ronaldo for not scoring in Euro 16 final
Messi failed to score in copa America final
Condemned Ronaldo for scoring penalties
Messi needed 5 penalties in 5 out of 7 games to win WC
Condemned tap in by Ronaldo
Messi scored tap in in WC final
Condemned Ronaldo for joining Saudi league
Now they are celebrating it cos Messi has a chance to join

How can a world cup winner be jealous of a Saudi pro league player?

Are you joking? 🤣🤣

jayAjoku:
Lol Ronaldo always leading and setting the pace 🤣😂😂. Messi that is running back to Barcelona make shame no kill am on top weak performance.

Please messi fanboys no quote me I no well

After reading this comment, Ronaldo still doesn't have a world cup trophy.
He won't until he dies 🤣

TristanX:
I will personally like to see him in the so called camel league for two reasons

1) To laugh at Pessi gay boys because their god is also in the same camel league they talk down about

2) Messi will see how competitive the camel league is and his worshippers will appreciate what CR7 is doing there when he begins to flop

nothing matters anymore after the word cup victory. I swear

All these ones na just cry you dey cry. Your mates are looking forward to a rivalry at world cup, you are still praying for a Saudi rivalry, you no dey shame 😂

Lol, this small happiness wey ronaldo and his fans take dey carry body, Messi still Wan take am 😂

My company is now training artificial intelligence on how to do the job of a customercare representative and Telesales marketer. It means that we will no longer be required to employ individuals to do that job very soon.
We already sacked our graphic designer and digital MARKETERS, artificial intelligence does graphics for and digital marketing.

Artificial intelligence is going to take the jobs, it's the reason why you need to get skilled in such a way that AI will not be able to take your job. A revolution is coming and if you are not prepared it will sweep you.

A revolution is coming, be prepared or become useless entirely. We are leaving an era of applying for such jobs and it's happening slowly.

The minority ethnic groups in northcentral are starting a movement to emancipate themselves from thr modern slavery imposed by the hausa/Fulani hegemony. Who is to be blamed?

1. Fulani herdsmen.
2. APC
3. Peter Obi
4. Fulani elites.

Anyways, be rest assured that we will fuel this movement until the next election.

When Fulani herdsmen want to kill, they don't care if you are Igbo or Yoruba, they just want your land.

raskymonojendor:
We know why nah.

say Hi to Fayemi

raskymonojendor:
We know why nah.

Unicef can't be lying you know

N3TRAL:
Like the name implies, Gross Domestic Product increases because of goods produced in a country. Imports are even subtracted from the GDP.

GDP does not only entails the amount of goods produced in the country. If for example I import tomatoes from Japan, it should reflect in the GDP of the country. GDP is the amount of products and service, whether produced or imported that in a country or state. The whole value of goods in an open market should ordinarily reflect on the GDP of that state but their no way for state or NBS government to ascertain the figure since they don't pay VAT on them hence we lack adequate Data to know for sure how much Ladipo, onitsha main ma2, Ariaria etc contributes to GDP

Now let's get it straight. Those selling at the market are at best wholesalers. The bulk of them are retailers.

At a typical construction market, traders sell Dangote cement, BUA cement or larfage. Whatever they have to sell in the market came from a source- Dangote, Bua or Larfage. Dangote group is a formal company that gives a near accurate estimate of the quantity of cement produced. His major business partners and distributors know how much they distribute. They know how many trucks of Dangote cement that are going to Anambra State for instance. Whatever the final consumers get at the market comes from those trucks. That's where they get the figures.

nope, look at to this way, since VAT is paid at the point of importation of an importer, when Papa chinedu imports a product from Taiwan using apapa port, he pays the VAT in Lagos which is used to determine the GDP of lagos state. When Papa chinedu moves these goods to his warehouse in Onitsha and starts selling it in main Market, he adds the he paid to the cost of the goods and then government can no longer know how many of the goods that papa chinedu has in Anambra state. Those goods that papa chinedu has in his warehouse and his stores in market are suppose to count for the GDP of anambra state. Government can use that VAT paid at Apapa to estimate how much of the GDP that Apapa port contributes but they don't have data of how it contributes to Anambra economy since the goods as bee moved to Anambra and is still in Anambra.

A typical grocery market has Peak Milk, Beloxxi (crackers) biscuits, Milo, Indomie produced in Nigeria. The companies supplying the markets are formal and have data of how many trucks they distributed. Whatever you buy in the market comes from those sources.

Like I said, getting the figure for companies that pay VAT is easy but you cannot know what happens at the open marler2 because you no longer know where those goods are the moment if leaves your company. If those goods are in Onitsha Main market, it's hard for government to know how they contribute to the GDP of anambra if government doesn't have data of the product in-Inflow and outflow in that market. To do that, you will need to develop a method to collect data from that market, with this you can now evaluate how that market contributes to Anambra state GDP in form of commerce. We don't have any database that does that in Nigeria.

Even to subtract imports, the bulk of things brought into the country passed through check at the port and are recorded. That's how Nigeria is able to calculate its balance of payment deficit. No one is going to go to mechanic village to count how many Toyota Camry engines are there because whatever Toyota engine they have passed through check and was recorded at the port.

government only have records of what happens at Ports, they cannot follow what happen in the market hence what happens at points adds to the GDP of the state hosting the port.
If I move a car from Tincan to Kogi, there's no data in Nigeria to know that that is in Kogi and I can even decide to move it Jos government cannot know how to factor that product into plateau state GDP.

To get the prices the products go for in the market is easy. The prices of two or three traders can be used. You can't sell a carton of Nasco cornflakes for 12,000 naira when others in your environment are selling for 10,000 naira. It is why I brought in the ANAP polls scenario of asking only a few percentage of the population.

What may actually affect the calculation of the GDP are small-scale production. Like the farmer who processes her Garri, the student who bakes and sells her chin-chin, peanut and cake and the tailor who produces clothes for people daily. However, the impact of small-scale enterprises engaged in production cannot be compared to those of medium and large scale enterprises. It is also difficult to account for small-scale businesses in advanced countries like Us, UK , especially China etc.

Smuggling and piracy can also affect the figures of imports.

it's what I am saying. Imagine you now have a large market like onitsha main market and Alaba where multiple small scsll business activity happens every second, how to you want to factor that into GDP?
They are not remitting Any VAT to you at that point for you to know

Iamgrey5:
You can always estimate by carrying out a survey.

It is the same technique used to carry out a survey for a presidential poll, it's not 100% accurate.

economic indicators are different from presidential polls. You cannot just into thr market and be asking people the worth of their products and how much they per day. Think na

As a matter of facts, government in Nigeria doesn't do that. They are only interested in collect fixed taxes that does reflect the value of the person paying it and hence cannot get a get a clear figure with expect to how much they contribute to the GDP.

If you want to know the GDP contribution of onitsha main market to Anambra state, you must know the average volume of goods in that market annually and to know that, you will need to create a database. Which of course does not exist in Nigeria

Iamgrey5:
Consumption is hard to Calculate so we just estimate as long as it statically acceptable for the level of confidence.

Investment is much easier.

you cannot estimate anything.

You can simply get the consumption of any sector my looking at the VAT coming from there. You cannot get that of open market.

It's unestimatable.

How do you get the investment of an average trader in Onitsha? tell me.

Iamgrey5:
GDP = C + I + G + NX

C = consumption

I= investment ( Private and public investment)

G=governormnent spending ( budget)

NX= net export

How will get the consumption and investment figures contributed by LADIPO market?

Iamgrey5:
I am an economist and we do alot of estimations in economics when we are not entirely sure of the figures.

Infact 90% of social sciences is based on estimation because everything we do is empirical research not Experiment.

tell us the formula

Iamgrey5:
look the Nigerian informal sector is big and commercial activities are determined by estimation with the help of traders.

That's what I have been trying to tell you since morning.

There's no way to know it.

Economists don't bother themselves about it because there's no data to work with

You can only work with what you have and not making up fictitious figures. If I import a product and sell without VAT, how do you want to know the market where it ends up and how I sell it?

Iamgrey5:
Before rebasing our GDP by the Goodluck in 2013, they went through several survey to capture the True nature of the Nigerian economy.

They carried out research to determine the highest contribution to our GDP.

They simply make an estimation since then largely based on governormnent spending and money in circulation.

lol, I do not need all these your statistic to know the value of goods and services coming out of the sector, I can simply look at the VAT to arrive at it.
For open markers lol LADIPO where VAT is not paid, you will never know

Iamgrey5:
They only take a sample size that is statistically going to give them a 90 to 95% accurate rate of data. They don't have to go to markets.

Empirical research in social sciences is carried out like that too.

What data are you talking about?

The value of goods in shops and warehouse or the amount of sales they make per day?

What useless statistics can capture that?
We do not have the structure in Nigeria to know this.

Iamgrey5:
By asking the markets owner directly. The estimation of goods in the market.

Isn't that why we have market leaders.

you really do not know how open markets in Nigeria run, do you?

Iamgrey5:
You can do this by carrying out a survey from the business owners themselves.

Do an average in the receipts of transactions from the markets.

GDP is an estimation not a perfect reflection.

this would babe been the job of the local government if they know what they are doing. But sorry, no one goes to these market to actually know the GDP contribution of these markets. No one knows, the values you see is based on the data available

Iamgrey5:
You can do this by carrying out a survey from the business owners themselves.

Do an average in the receipts of transactions from the markets.

GDP is an estimation not a perfect reflection.

okay, so you think Nigerian government usually go to marketz to carry out survey on each shop's financial records and flow of goods and services? 😂

Iamgrey5:
@ emboldened

How exactly was this different from what I wrote

I said you look at the industry as whole not a single market.

They look at receipts of sales of from market and make an estimation on the sales of the markets in that location

I already talked about Agriculture in my first post.

How will know the sales of market that leaves an open market in Nigeria? Are you reasoning?

How do you know the value of good and service in LADIPO market? When most of the services are not properly documents, and government do not collect data from traders to value their transactions?

Iamgrey5:
They don't need to determine the GDP of ladipo alone. They break it down to industry by industry

We have Telecommunications industry

Manufacturing industry

Commercial and Trading you industry

Agricultural industry

Etc.

I will give you another example.

To know the how much the telecommunications industry contributes to the GDP, you need data from all telecommunications sectors. You even need the actually value of big telecoms like mt, airtel etc to be able to know how much that sector contributes.
If you do not have data form MTN, you cannot know how much MTN contributes to the GDP of this country.

If you do have data from LADIPO market, you cannot know how much ladipo market contributes to the GDP of lagos state frm the commerce sector.

Iamgrey5:
They don't need to determine the GDP of ladipo alone. They break it down to industry by industry

We have Telecommunications industry

Manufacturing industry

Commercial and Trading you industry

Agricultural industry

Etc.

Dude, you don't know anything about GDP.
Bring it down into industry means that you will need to know the value in terms of financial flow, product and service that this sector provide.

It means that, you need data to be able to evaluate such. Even in the agricultural sector, for states where there huge subsitent farming, and sells of farm products that goes to open market, those service are usually not captured in the GDP.

So how to you Wan to measure the commercial contribution of a market in commerce sector when you don't have data from that market?

You think the figure comes from think air? They collect data, analyze it then conclude. The result depends on the data available

Iamgrey5:
I don't think you understand economics..

give e formula on how you can determine the GDP contribution of for example LADIPO market to Lagos state.

Please kindly tell me how to collate the data from LADIPO goods valuation to be estimate the GDP contribution of that market.

Iamgrey5:
I don't think you understand economics..

okay, teach me

For any expert in economics, you will know that the GDP figures coming out of anambra and Abia states are not the true reflections of what's happening there and I also think that places like Kano and Lagos have much larger GDP than recorded.
The reason being that it's difficult to get data to estimate GDP values of open markets but estimating that of cooperations and servicing companies is much easier.
It's highly impossible for your to get the GDP value for open markets in Nigeria, you will not be able to evaluate the amount of trade, goods inflow and outflow and financial transaction coming into that market on a daily basis. It's why whenever I see the GDP of states with large open markets like Kano, Lagos, Abia and Anambra, I usually don't believe it because I know that they will not be able to factor what we call the "underground economy" which is mostly what open markets in Nigeria are all about.

Underground Economy
The underground economy (or black market) refers to cash and barter transactions that are not formally recorded in GDP and are often used to support the trade of illegal goods and services (i.e., drugs, weapons, prostitution, etc.). The scale of underground economies varies greatly between nations, and, in some cases, they make up a substantial percentage of a country’s economic output.

The underground market is almost impossible to estimate or value, and due to its illegal nature, it is rarely incorporated into a nation’s published GDP figure. Thus, some nations’ economic output may be understated by GDP. In the case of open markets in Nigeria, you can hardly value the amount of goods a person owns because that information is not available for government to know.
Lagos state government does not know the actual value of goods that goods that a typical Alaba tradet has in his shop or warehouse. So Lagos state cannot factor such into her GDP.
For a place like onitsha, that is almost completely a market, it's hard to even factor the worth of those markets into the GDP.

For example, how do you think you can estimate the GDP value of Ariaria market without know the exactly amount of goods every shop has and the exact financial transaction in that market annually. These data are not available, you can only get a glimpse of them buy going to be banks around Ariaria market but still, it won't be enough to know the GDP contribution of the market.

The best way to know the economic strength of any state is to look at the data in the bank in terms of cash flow. GDP is Nigeria is highly inaccurate because of lack of data and unregulated open market nature.

PoloG:
lol... Just two yoruba companies are richer than the richest state in igboland ..
Flutterwave and calendly ...

Know your levels igbos

Ibeto group is richer than flutterwave, I don't have time for all these dick measurement because most of these companies are in Lagos

PoloG:
flutterwave is worth $3b and anambra gdp as at last year was $6b...

Your innoson is not even upto sujimoto in networth

Ibeto group is worth 3.8billion, thats larger than the GDP of Ekiti. Can we now say that Ibeto is more valuable than Ekiti?

No be so

Pleasant01:
How many times have Yoruba gotten power? We all know obj wasn't the Yorubas choice and he didn't do anything for us.. even small Lagos-abk expressway e no do.....this is the first time Yorubas are getting power

Na you sabi

PoloG:
flutterwave is worth $3b and anambra gdp as at last year was $6b...

Your innoson is not even upto sujimoto in networth

Well, that figure seem to be bigger than the GDP on Ondo, Osun and ekiti as well, can we now say that flutterwave is richer than Ekiti state? . Think about it.

Does comparing companies worth to GDP of states make any sense?

Pleasant01:
How many world class cities have ibo built?

none sir, but Yoruba has built none as well. Even after having to get power and even enough time. It's a reflection of the elites ripping the people while the people remain loyal