₦airaland Forum

Beaf:
They say, a toad doesn't jump in the daylight for nothing. . .
This sudden bump up for agriculture portends something. Could the missing link be the 200 billion agric fertilizer loan money? Questions!!

How can a country that spends $3 billion annually on the importation of the most basic food items, claim that 42% of its GDP is due to the very same agriculture? In other words, rather than enrich the country, we get poorer by $3 billion US every year from agriculture. So what sort of voodoo math would create a contribution of 42% to our GDP?
My simple take on this excreta is that someone is manufacturing figures to cover up "something" in the near future.

Nigeria, land of magic. http://www.africanagricultureblog.com/2007/11/why-nigeria-imports-3-billion-of-food.html

Beaf:
What worries me most about these latest Nigerian figures is the way they have jumped out of thin air like something invoked by TB Joshua!
Every body with a little sense knows for definite that Nigeria is a mono-product economy. Just a couple of years ago, it was known that oil accounted for 90%+ of our GDP. So what happened that its suddenly 16% percent, when did we rapidly diversify our economy and why did someone forget to inform the World? I ask that, because we are still a mono-product economy, indeed the title of the current thread makes it plain as day; "Nigerian Economy Grew 7.23% In First Quarter On Oil".
And to think I was of the opinion that Yar Adua was called Baba Go Slow, because absolutely nothing was happening! Not knowing that economic diversification was rocketing ahead, in fact while Yar Adua slept his way through 2.5 years, the economy simply reacted and diversified! Wow!

The growth of our GDP doubled in a year from oil alone. . . At 16? Very strange! Maybe the next miracle indeed!

Every authority seems to have their own figures for the percentage of oil in Nigeria's GDP, eg CIA 's  the World Factbook kindly puts it at about 50%. We know it is much more. Someone is actually funny enough to claim that agriculture acounts for 42% of our GDP; I am yet to see money from yam sales being distributed in Abuja. I am yet to see the smiling farmers from Kafanchan or Obolo-Afor; or maybe the sudden increase in their contribution to the Nigerian economy somehow doesn't translate to more money in their pockets.

We don't even know how many Nigerians there are (as distinct from goats and cows, which have been valid statistics in each of our cencus's to date).
Maybe we will soon have strategic yam reserves, rather than the current strategic oil reserves.

Rubbish!

seanet02:
@poster. You are talking rubbish, are you a pdp man? Answer that before i say anything again

Ikengawo:
this thread is proof positive nigerians aren't smart, at all.

you spend 2-5 years on and internet forum complaining there's no development in nigeria
i guy posts statistics of your economy growing at 7.23% which is well above global average and one of the highest in the world due to the recession
the result? you attack him at start talking about roads.
mind you your not in nigeria to see what the roads look like, you're just mad that in 1984 when you left the roads weren't good.
to a nigerian they'll always be stuck on that 1984 image and will never let it go, anything that counters it will be met with insults as if you're insulting them. this is proof that they're silly.

even good news is bad to them. maybe god is punishing you people because you can't appreciate it when he gifts you.

June 18 (Bloomberg) -- Nigeria’s economy grew 7.2 percent in the first quarter of the year, up from 4.5 percent in the same period a year earlier, as oil production increased following the restoration of peace in the Niger Delta.

Growth in the oil and natural gas industry was 3.2 percent in the three months compared with a decline of 8.1 percent a year ago, the National Bureau of Statistics said in a statement e-mailed from the capital, Abuja, today.

A drop in rebel activities in the oil-rich delta since October helped to increase production by 9.6 percent during the quarter to 202.4 million barrels.

“The oil sector story is particularly emphatic, showing a complete reversal” from the previous year, Pabina Yinkere, a Lagos-based analyst with Access Bank Plc, said in a telephone interview.

Oil and gas account for 16 percent of gross domestic product in Nigeria, Africa’s most populous country and the fifth-biggest source of U.S. oil imports. Companies including Royal Dutch Shell Plc, Exxon Mobil Corp. and Eni SpA, operate joint ventures with the state-owned Nigerian National Petroleum Corp.

Militants who say they are battling for more of the region’s resources called for an indefinite cease-fire in October as fighters accepted an amnesty offer by then-President Umaru Yar’Adua.

Non-oil industries grew 8.2 percent from 7.9 percent a year earlier, according to the statistics bureau. Agriculture, which accounted for 42 percent of GDP last year, grew by 5.5 percent.

Beaf:


Damnnnnnnnnnn!!!!!!!

www.nairaland.com/attachments/180447_ROTFLMAO_gif3d0c775232c7f27cf80592785b9635b6

006:
Seems like a false story to me

9jaganja:
I opened this thread not for competitive but constructive debate. You are just blabbing about Nigeria is better than Ghana. And you really don't wanna take word o mouth with me. Just stop posting if you can't construct simple analysis with your brain. No one is debating you you. Do you have down syndrome or something?