Nigeria becomes Africa's biggest economy

[Tango73]

kwanza tupate maelezo ya pesa zetu zilizofichwa Uswiss ndipo tutajipanga tufanye nn!

 

[Turufuu]

Juzi
juzi Kenya ilionesha
makucha yake ya umwamba wa uchumi pale ilinunua Boeng 787 dreamliner.
NIgeria leo katika vichwa vya habari vingi ktk televisheni inatajwa kuwa
ni Economic Giant la africa. Ivyory Cost mwezi uliopita imetamba
kiuchumi kwa kuonesha barabara lake la kifahari la kilomita 700 la
kupisha namagari juu kwa juu kigorofa kama yalivyo mabarabara ya nguvu
marekani na pale rRme Italia. wakati seriklai yetu ya tanzania ndio
kwanza inapigania kuwepo kura ya uwazi katika kupata KATIBA mpya!

Hivi kwa nini serikali yetu haina wivu wa maendeleo? hata Botswana nayo
imetupita vibaya sana .
Tufanye nini ili kuwenda mwendo wa kasi kiasi ambacho tusijikute tupo
nyuma mno kiuchumi?

Wewe una mawazo mazuri ya maendeleo, lakin wenzako wa ccm wanajadili
watafanyaje ili wawatie ujinga wtz ili wazid kuwatawala bila ya kuusahau ule muujiza wanaotaka kutufanyia wa kuondosha maleria kwa chandarua, same of thame wanasubir mungano uvunjike ili wapate mali za wapemba ,wengine wa kila
chama cha wenye meno mabov na machafu (wachaga) chadema wanawaza
watampataje Julius mtatiro ndo wanajitahid kumfitinisha, duh acha nipige
rakateni than nitarudi.

 

[babu M]

Kuanzia sasa utaona nchi nyingi za africa wanafanya kama Nigeria.Watakuja na data za kupikwa lakini hali ya maisha ya wananchi bado itakuwa inawasuta.

Sisi tuna bongo fleva!!

 

[RockSpider]

NIgeria, Kenya, Botswana wanapenda misifa tu... sasa mibarabara ya juu sijui midege mikubwa ya nini? Sisi tuko bize kuhakikisha kuwa Tembo hawatusumbui tena...wazungu wakimaliza dhahabu watakoma maana hawatakaa tena bongo kwenye wanawake wazuri wa kuvutia...Sisi kiboko maana twaweza kutembeza bakuli la misaada matonya haoni ndani...mna ng'ang'ania maendeleo kwani umesikia sisi hatuendelei? mbona biashara ya sembe inakuwa kwa sana tu!... Kidumu CCM

 

[Chizi Maarifa]

Wewe una mawazo mazuri ya maendeleo, lakin wenzako wa ccm wanajadili
watafanyaje ili wawatie ujinga wtz ili wazid kuwatawala bila ya kuusahau ule muujiza wanaotaka kutufanyia wa kuondosha maleria kwa chandarua, same of thame wanasubir mungano uvunjike ili wapate mali za wapemba ,wengine wa kila
chama cha wenye meno mabov na machafu (wachaga) chadema wanawaza
watampataje Julius mtatiro ndo wanajitahid kumfitinisha, duh acha nipige
rakateni than nitarudi.

ungeandika kiswahili tu moja kwa moja hii lugha ya english huiwez dada turufuu.

 

[TEKNOLOJIA]

6 April 2014 Last updated at 14:51 GMT
Nigeria becomes Africa's biggest economy

The mobile phone industry is now massive in Nigeria - 25 years ago, it did not exist Continue reading the main story

Nigeria - Troubled Giant

• Where’s the money?
• Viewpoints on 100 years
• Bad luck party?
• Booming illegal oil refineries

Nigeria has "rebased" its gross domestic product (GDP) data, which has pushed it above South Africa as the continent's biggest economy.
Nigerian GDP now includes previously uncounted industries like telecoms, information technology, music, online sales, airlines, and film production.
GDP for 2013 totalled 80.3 trillion naira (£307.6bn: $509.9bn), the Nigerian statistics office said.
That compares with South Africa's GDP of $370.3bn at the end of 2013.
'Changes nothing' However, some economists point out that Nigeria's economic output is underperforming because at 170 million people, its population is three times larger than South Africa's.
On a per-capita basis, South Africa's GDP numbers are three times larger than Nigeria's.
Continue reading the main story “Start Quote

Economies are dynamic things; they grow, they shrink, they add new sectors and technologies and people's behaviours change”
​

• What is 'rebasing'?

And Nigerian financial analyst Bismarck Rewane called the revisions "a vanity".
He added: "The Nigerian population is not better off tomorrow because of that announcement. It doesn't put more money in the bank, more food in their stomach. It changes nothing."
Rebasing is carried out so that a nation's GDP statistics give the most up-to-date picture of an economy as possible.
Most countries do it at least every three years or so, but Nigeria had not updated the components in its GDP base year since 1990.
Then, the country had one telecoms operator with around 300,000 phone lines. Now it has a whole mobile phone industry with tens of millions of subscribers.
Likewise, 24 years ago there was only one airline, and now there are many.
International aid donors are keen for more African countries to undertake this process regularly because it enables them to make better decisions when it comes to aid.


BBC News - Nigeria becomes Africa's biggest economy

Honestly speaking South Africa still have the edge over Nigeria economically.It's just bad economic and fiscal policies as well as grand corruption & maladministration of Zuma administration hurting the economy.If they change that South African economy might be back on track and regain its momentum.

 

[Egwugu]

Sifa za kijinga walio wengi wanaogelea kwenye umaskini makampuni ya wezi wa magharibi ndo yananehemekq tu,poor Africa

 

[Mzee Wa Liverpool]

Waulize maccm kwa nini mkiaka zaidi ya hamsini watanzania zaidi ya asilimia sitini ni maskini ?

 

[Geza Ulole]

Wiki hii Nchi ya Nigeria imeipiku rasmi Afrika Kusini kwa Ukubwa wa Uchumi, yaani sasa hivi Nigeria ndio Nchi yenye Uchumi mkubwa kuliko zote Afrika!

=========

Posted on Tuesday, 08 April 2014 11:27
It will take Nigeria decades to catch up to South Africa's economy

By Crystal Oderson

CITY OF JOHANNESBURG. PHOTO©REUTERS​

South African economists have welcomed the announcement that Nigeria is now the biggest economy in Africa saying it is good news for the continent.

This follows the release of the long awaited figures of more accurate gross domestic product levels for the West African country.

The results of the rebasing which was undertaken by Nigeria's National Bureau of Statistics makes the West African giant's economy about 60% bigger than the South African economy.

South Africa shouldn't be worried and ironically our telecommunication companies like MTN and retails stores like Shoprite are heavily invested in Nigeria​

"We had expected this all along, Nigeria has been the biggest economy for a number of years but it was the way they had calculated their figures" economist Dawie Roodt toldThe Africa Report.

"It is good news for Nigeria and good news for Africa".The figures show the Nigerian GDP is at $509 billion with the South African economy at $322 billion.It was the first time in 24 years that Nigeria rebased its GDP calculations."

Two major industries were excluded in their calculation namely telecommunication and the film industry known as Nollywood," Roodt said.

He says there's been phenomenal growth in these industries, which have contributed s to the growth of the Nigerian economy.

South Africa's Ministry of Finance also welcomed the news of Nigeria's ascendancy."This is a positive story of African countries contributing to re-shaping each other's economies through increased investment," the ministry said.

However, Roodt said it would "take decades" for Nigeria to catch up to the South African economy that is much more diversified and its infrastructure is well developed.

He added that the population size is also much bigger but Nigeria's per capita growth is much lower than South Africa.

"South Africa shouldn't be worried and ironically our telecommunication companies like MTN and retails stores like Shoprite are heavily invested in Nigeria," he added.

However, the official opposition, the Democratic Alliance had a different take.

"We believe that South Africa has the potential to do much better. With decisive leadership, the right policy mix and a government committed to job creating inclusive economic growth, we can again challenge Nigeria for the number one spot," the DA said in a statement.

Read the original article on Theafricareport.com : It will take Nigeria decades to catch up to South Africa's economy | Southern Africa
Follow us: @theafricareport on Twitter | theafricareport on Facebook
It will take Nigeria decades to catch up to South Africa's economy | Southern Africa

 

[Ogwe]

I must dismiss the thinking of the data provided in this topic. Magical sexing of economic indicators is a common African trait, its not strange to find hard pressed African country's such as Zimbambwe etc indicating unreasonable growth in there domestic economies. As pundits we must interogate rationally Nigeria rulling class and their misconduct for a proper appreciation of how they run there economies.

Nigeria has a boko haram problem and a serious decade long secterian problem , Ecomically the population of Nigerial is split between the Oil rich Christian states, educated in western ideology and the political militarily poweful islamist officials with support in sheria federal states. This divide has developed a form of Nigerian Corruption feeds on political and militarily institutions breeding a problem of a grey economy.

This is to say that Nigerian military class survive by maintaining prosperity amongst its ranks. It is important to appreciate that institutions in most third world organizations are managed through nepotism and other malpractices, unfair allocation of resources feeds the system. Effectivelly Nigeria is a military economy, whose power comes from collusion with rogue politicians. It is at this point that questions arise on the authenticity of the data generated by individuals friendly to the system. The rat race ensures that those in power today will protect there wealth at any cost, the corrupt feels insecure when retired or out of influence.

This basic assessment directs that the corrupt elements in our African capitals holding power routinely indulge in the vice of encouraging illicit outflow of public funds to ofshore accounts, an instance of corruption opportunity in Nigeria today could include and not limited from the profiting of the conflict pitting Boko Haram and the Nigerian Military, the state officials would most surely could be using the military opperations to mint security procurement services.

This type of sceptism means that we should also look at the data such as the ones peddled to the world from questionalble African states as politics. ...something is definately fishy with the Nigeria Data ..Previously there has been talk in the media, which led to the sacking of a respected Nigerian Central Bank Chief who alleged that hundreds of billions of Nigerian $ could not be accounted for. And now the data is released giving Nigerian economy a rosy look ... this is weird !

The question analyst must ask ...what has Nigeria done right to overtake the South African economy or is it that South Africa is in decline ?, The forum ought to address this intelligence question and re-read the findings it comes with against the economic data indicating the abnomal growth of the Nigerian economy.