Nigeria To Become Africa’s Fourth Largest Economy In 2024

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Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF - Politics (4) - Nairaland

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Top 10 Poorest Countries In Africa In 2024 -IMF / IMF: Nigeria Remains Largest Economy In Africa, 26th In The World / Nigeria Has Become Africa's Money-losing Machine - Forbes Magazine (2) (3) (4)

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Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Chukwuka319(m): 4:00pm On Apr 22

Otuocha! Does it mean Buhari administration was better off or what? Because under Bubu, Nigeria was the top largest African economy. Well,no condition is permanent and Nigeria will reclaim her former position.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by nedekid: 4:07pm On Apr 22

ivandragon:
Outside all the grammar, below clearly shows how bad things have become for the common man...

Putting the dire economic situation of Nigeria in perspective.

Year 1990-1998
Av. Minimum wage (MW) N300

Item price
1. Rice N1000
3+ months salary to buy 1 bag

2. Beans N1500 5 months salary to buy 1 bag

3. Cooking gas NA No reliable records

4. Flour N190 1 month salary gets 1+ bag

5. PMS N11 1 month salary gets 27l

6. Diesel N12 1 month salary gets 25l

7. Cement N120 1 month salary = 2 bags+

8. Basket of tomatoes N200 1 month salary =1+ basket

9. Beef N50 1 month salary = 6kg
Year 1999-2010
Av. Minimum wage (MW) N7000

Item price qty of MW
1. Rice N6000 1month salary = 1+ bag

2. Beans N7000 1month salary to buy 1 bag

3. Cooking gas N200 1 month salary = 35kg

4. Flour N4500 1 month salary gets 1+ bag

5. PMS N65 1 month salary gets 107ltrs

6. Diesel N150 1 month salary gets 46ltrs

7. Cement N1500 1 month salary = 4+ bags

8. Basket of tomatoes N2500 1 month salary =2+ baskets

9. Beef 250 1 month salary= 28kg

Year 2011-2014
Av. Minimum wage (MW) N18000

Item price qty of MW
1. Rice N8000 1 month salary to buy 2+bags

2. Beans N15000 1month salary to buy 1+ bag

3. Cooking gas N400 1 month salary = 45kg

4. Flour N6000 1 month salary gets 3 bags

5. PMS N90 1 month salary gets 200ltrs

6. Diesel N300 1 month salary gets 60ltrs

7. Cement N200 1 month salary = 9 bags

8. Basket of tomatoes N7500 1 month salary =2+ baskets

9. Beef 500 1 month salary = 36kg

Year 2015 to date
Av. Minimum wage (MW) N30,000

Item price qty of MW
1. Rice N70000 2+ months salary to buy 1 bag

2. Beans N100000 3+ months salary to buy 1 bag

3. Cooking gas N1300 1 month salary = 23kg

4. Flour N60000 2+ months salary gets 1bag

5. PMS N600 1 month salary gets 50ltrs

6. Diesel N1300 1 month salary gets 23ltrs

7. Cement N10000 1 month salary = 3 bags

8. Basket of tomatoes N58000 2 months salary =1+ basket

9. Beef N5000 1 month salary = 6kg

Dont get you writeup, is it that things are better now than it was then?
Anyway 1990 upwards, I remember fuel was increased to 60kobo per liter, it then rose to 90kobo, abacha then increased it to ₦1+, there was another to ₦5, after heavy protest, it settled at ₦3.75kobo. All this was 1991 to around 1995-6. I know because I was in uni ibadan then and all the distraction of owning a car as a student. ₦5 fuel got me almost 8 liters at 60kobo per liter.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by purplekayc(m): 4:12pm On Apr 22

SpecialAdviser:
From first to fourth with APC Band F government.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Splashme: 4:20pm On Apr 22

There was a country
.

1 Like

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by OChimex: 4:26pm On Apr 22

Asmmi:

And that's why we have to believe in the Government. You can see practical steps they've taken to revive the economy and also the power sector isn't left out.leta be optimistic please

What practical steps are they taking? By borrowing billions upon billions?
Very soon, naija yearly budget will be just to service debts
Just mention one of those practical steps?

2 Likes 1 Share

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by okechuks22: 4:26pm On Apr 22

Continue decieving ur village people

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by joepentwo(m): 4:39pm On Apr 22

Abeg make reduced the price of garri wether 100 or whatever position, na garri we dey beg on behalf undecided

Meanwhile

Click the link on my signature to earn 1k
Instantly

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Splashme: 4:39pm On Apr 22

Sad

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Timothy89(m): 4:42pm On Apr 22

naturalman:
See what Yoruba and hausa people don cause........allow SS or SE to rule , them no go hear..... leadership is not a game of number but a game of wisdom

SS was the cbn gov, the one controlling the economy of the country, where did he land us?

Let Igbo rule, who will rep Igbo among those incompetent dummies y'all voted for? Umahi tried in infrastructure, how did he make impact in human capital capacity?

You think economic balancing as anything to do with tribe and religion. Tinubu knows the problem ahead and believe me he won't leave without redressing the economic abnormalcy

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by BadBradley: 4:43pm On Apr 22

Bestmanfornow:

https://nairametrics.com/2024/04/19/nigeria-to-become-africas-fourth-largest-economy-in-2024-imf/

Shame on the APC.

When this band of idiots took over the realm of affairs , Nigeria's GDP was .5 billion dollars and was by far Africa's largest economy by a long margin.

From the skeletal bag of bones who took over, we will be a shame in Africa now

2 Likes 1 Share

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by ogbe88(m): 5:00pm On Apr 22

PureFace1:
How is having the largest economy in Africa benefits Nigeria ?

Nigeria is still very poor and one of the poorest and the FDI into Nigeria for a while now has been very low.

Ironically you people are always quick to celebrate any negative news about Nigeria and will be the first to dismiss any positives news and term it propaganda.

I believe very soon Nigeria should be one of the fastest growing economy in Africa and the world by next year.

U are a kid.

1 Like

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by succri(m): 5:06pm On Apr 22

Them dem dey wash us grin

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Splashme: 5:09pm On Apr 22

Shame

1 Like

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Menclothing1: 5:11pm On Apr 22

Lolz

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by anonimi: 5:13pm On Apr 22

SpecialAdviser:
From first to fourth with APC Band F government.

Blame it on that Ota farmer who joined ThiefNuibu to make Buhari president even though he knew that the Abacha a-looter collaborator was blank on economy.

How can a man who loves Nigeria scam us with an olodo like Buhari

citizenisb:
Former President Olusegun Obasanjo says President Muhammadu Buhari may not do well in economy and foreign affairs, except in military matters.

“Buhari is not a very hot person on the economy and foreign affairs,” Obasanjo said.

The former President stated this on Monday at the third International Conference on African Development Issues — themed, “Driving inclusive and sustainable development in Africa: Models, methods and policies” — organised by Covenant University, Ota, Ogun State.

While reacting to a question posed to him by a member of the audience: “Is there any hope for Nigeria under the administration of President Muhammadu Buhari?”, Obasanjo replied, “Is there any hope for Nigeria under this administration? I came back from Geneva, Switzerland a few days ago to attend a conference titled, ‘Are elections giving democracy a bad name?’ We had an election, we elected a leader and the good thing about democracy is that the power you have to elect a leader is also the power you have to remove him. I am saying this because I said earlier that if you don’t see any leader that has done well in the 56 years of Nigeria’s independence, then let us forget about Nigeria.

“I will tell you what I know and I will tell you what I don’t know. I know Gen. Muhammadu Buhari. He served under me in the military. His characteristics that I know, his behaviour that I know, he has not deviated from them. He was never a perfect man, he is not a perfect man and no leader can ever be a perfect man because they are human beings. But if you read my book, what I said about him is correct. He is not a hot person when it comes to economy. He is not a very hot person when it comes to foreign affairs. But he will do well in matters of military and he will do well in fighting Boko Haram.”

http://www.punchng.com/buhari-not-sound-economy-foreign-affairs-obasanjo/

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Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by ivandragon: 5:13pm On Apr 22

nedekid:

Dont get you writeup, is it that things are better now than it was then?
Anyway 1990 upwards, I remember fuel was increased to 60kobo per liter, it then rose to 90kobo, abacha then increased it to ₦1+, there was another to ₦5, after heavy protest, it settled at ₦3.75kobo. All this was 1991 to around 1995-6. I know because I was in uni ibadan then and all the distraction of owning a car as a student. ₦5 fuel got me almost 8 liters at 60kobo per liter.

The post is self explanatory.

First of all, I relied mainly on end period priced over a given period so it matches with the minimum wage. As at 97/98, fuel was N11.

It shows that between 1999 and 2014, there was significant economic development that directly impacted on the common man. From 2015, things have taken a nosedive.

It also sets the standard for what apc should be aiming for. Not audio projects that have no positive impact on the common man.

It also aims to lay to rest the position of some apc apologist who, when the government is questioned about the hardship and price rises, also ask how much the PDP met prices. Though prices increased under PDP, so did purchasing power.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by TOPMAN4LIFE: 5:16pm On Apr 22

naturalman:
See what Yoruba and hausa people don cause........allow SS or SE to rule , them no go hear..... leadership is not a game of number but a game of wisdom

What did Jonathan do better as a South South man.
Was he not pleasing the north that later dumped him during election

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Splashme: 5:16pm On Apr 22

Sad

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by anonimi: 5:17pm On Apr 22

FireUpNow:
Na so dem dey talk oo. Shey na statistics we go chop

No, don't chop statistics.
Keep shouting and wailing EbinPawa upandan until you kpeme from APC's Enikanlomo suffering.

2 Likes 2 Shares

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by anonimi: 5:18pm On Apr 22

TOPMAN4LIFE:
What did Jonathan do better as a South South man.
Was he not pleasing the north that later dumped him during election

Jonathan did well on the economy.
He was better by far than the two presidents before him and the two after him on this area.

2 Likes 2 Shares

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Westman001: 5:21pm On Apr 22

We were first during Jonathan.

Chai,, our mumu no too much.

Voting Buhari, bringing APC onboard was the beginning of our fall.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by TOPMAN4LIFE: 5:22pm On Apr 22

anonimi:

Jonathan did well on the economy.
He was better by far than the two presidents before him and the two after him on this area.

There is no govt in Nigeria that people have not
complained, just google what happened during his regime.
The major thing that is affecting economy presently is because of subsidy removal which Jonathan also attempted
If Jonathan was able to remove it then, price of goods and services would have gone up too

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Splashme: 5:38pm On Apr 22

Terrible.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Believeintruth: 5:54pm On Apr 22

Paraman:
Just like Goldman Sachs, they will eventually review it before the end of 2024 second quarter

Keep on deceiving yourself

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Believeintruth: 5:56pm On Apr 22

Chukwuka319:
Lol! IMF run by parasitic White Pigs are still miffed that BAT ignored their Luciferic economic advice on the pump price of petrol and other economic aspects.
Nigeria will continually ignore your demonic advices.
Ndi Ala!
You can project all you want.
Nigeria must surely be better.

seriously what did you smoke? The same IMF brought CBN and ministry of Finance to Washington, and you are here saying he ignored them.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Believeintruth: 5:57pm On Apr 22

Paraman:
Speak for yourself please.

Power supply is very good in my area, cost of goods and service is falling, infrastructure is improving etc

Nigeria is on the right path to greatness

and what area is that? this statement of yours smirks of insensitivity

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Believeintruth: 6:00pm On Apr 22

greenermodels:
you deserve to be used for a burnt sacrifice.

ohhhh my chest!!!!!!!!!

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Believeintruth: 6:02pm On Apr 22

yommen:
Naira was projected to hit N2,000/$ but it turned around appreciated by nothing less than N700. So, the negative prediction doesn't have to happen.

The government is subsidizing the rates to BDCs that is why the appreciation is artificial. since the new broke out that the reserves were being used(it may be a rumor) to defend the naira, the currency started a marginal depreciation.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by ivandragon: 6:03pm On Apr 22

Focusmind:
Even when Nigeria was the largest, it was not felt, talk more when it is now projected to be 4th

The current positions of countries seemed more like it. I always considered SA as the biggest economy in Africa, irrespective of the basis of classification of the ranking. You cannot be the biggest economy in Africa and have greater percentage of your population living in abject poverty without access to power, water, sanitation and basic necessities of life.

When the Nigerian economy was the largest, it was felt and the records below prove it.

=2+ baskets

9. Beef 500 1 month salary = 36kg

Year 2015 to date
Av. Minimum wage (MW) N30,000

Item price qty of MW
1. Rice N70000 2+ months salary to buy 1 bag

2. Beans N100000 3+ months salary to buy 1 bag

3. Cooking gas N1300 1 month salary = 23kg

4. Flour N60000 2+ months salary gets 1bag

5. PMS N600 1 month salary gets 50ltrs

6. Diesel N1300 1 month salary gets 23ltrs

7. Cement N10000 1 month salary = 3 bags

8. Basket of tomatoes N58000 2 months salary =1+ basket

9. Beef N5000 1 month salary = 6kg

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by Believeintruth: 6:06pm On Apr 22

PureFace1:
How is having the largest economy in Africa benefits Nigeria ?

Nigeria is still very poor and one of the poorest and the FDI into Nigeria for a while now has been very low.

Ironically you people are always quick to celebrate any negative news about Nigeria and will be the first to dismiss any positives news and term it propaganda.

I believe very soon Nigeria should be one of the fastest growing economy in Africa and the world by next year.

Dude face facts and stop living in deceit, with the way this government is going, they cannot achieve that. If the government is sincere we will not be doubting their news. The appreciation of the currency is clear artificial, you cannot be subsidizing the rates to BDCs it is not sustainable at all. That is the elephant in the room here. Nigeria will slide down further if we do not get our acts right.

Re: Nigeria To Become Africa’s Fourth Largest Economy In 2024 – IMF by HugoBoss10(m): 6:07pm On Apr 22

Paraman:
Just like Goldman Sachs, they will eventually review it before the end of 2024 second quarter

You don't need any yeye economy reviews from any body.
Positive or negative Economy situation of every nation can be measured on the street and not on the pages of newspapers
The effect of a blossom economy cannot be hidden. Hope you got my point

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