Sub N1000 exchange rate is a mirage. When all we do is convert dollar earnings to fund expenditure. The politicians will NEVER allow Naira to appreciate that much because it means lower funds allocation to them 😅😅😅😅
@@fadesola2002 You have only displayed one of our biggest problems as a people...Lack of interest in data and Emotionalism in addressing sociopolitical issues. Go and look at the country's balance of payment over the last 18 months, imports have been falling compared to exports. The purchasing power of the household has fallen and people are not importing as much again. Now, have you asked yourself why the currency has continued to depreciate despite the current account surplus? At least, your argument is that we have to reduce imports to make the naira appreciate. Oga!, Go and look at the years we have had lower imports than exports (Trade surplus); the Naira did not appreciate as well, lol. Keep deceiving yourself thinking it's about the imports.
@@sonuga that is such an absurd proposition on its face. The reason the naira fell was that the government stopped spending 20-40bn per annum to subside consumption via importation for things like rice. Because forever in nigeria until we were broke we ALL supported and actively participated in the importation of foreign goods instead of investing in infrastructure The nigerian economy is very simple. Stop making it complicated
How can the actual GDP in Nigeria be $200b when investment in a new business like Dangote Refinery alone is over $20b? Yes, a few businesses had stopped production in Nigeria, but we have new massive businesses along Lagos-Ibadan expressway. Analysts would view our budget in dollars but approach our deficit in naira. Funny!
GDP is not a measurement of assets. It's a measure of spending over a period of time. GDP = Consumption + Investment + Government Spending + export - import
@@miftaudeenabdulhameed1320 Yes but Dangote is a production enterprise so the argument still stands, $200b is not a believable figure for the size of the Nigerian economy, we wait until the NBS releases the figures of the rebasing to get a better picture of the size
@@cj-ux4sq If Dangote Refinery For Example is to be taken into Consideration. Only The Investment in the refinery for the Quarter under Review + The Products in the quarter both local and export - imports by the refinery in the quarter will be taken into account. So don't Expect that they will just add $20bn to the GDP. Rebasing will only add new data that were not previously considered. The dynamics of Nigeria Economy has not dramatically change such that new entries will change the data significantly
@miftaudeenabdulhameed1320 So, Dangote investment and fintech companies were added to the 2014 figures upon which NBC is referencing to estimate growth, right? Who added all the new fertilizer companies and real estates in Lekki, Abuja, and other parts of the country? Have we added the trillions in investment into infrastructure in the last 10years?
Sub N1000 exchange rate is a mirage. When all we do is convert dollar earnings to fund expenditure. The politicians will NEVER allow Naira to appreciate that much because it means lower funds allocation to them 😅😅😅😅
always blaming the politicians...dont you prefer foreign goods? abeg rest and take person responsibility
@@fadesola2002 You have only displayed one of our biggest problems as a people...Lack of interest in data and Emotionalism in addressing sociopolitical issues.
Go and look at the country's balance of payment over the last 18 months, imports have been falling compared to exports. The purchasing power of the household has fallen and people are not importing as much again. Now, have you asked yourself why the currency has continued to depreciate despite the current account surplus? At least, your argument is that we have to reduce imports to make the naira appreciate.
Oga!, Go and look at the years we have had lower imports than exports (Trade surplus); the Naira did not appreciate as well, lol. Keep deceiving yourself thinking it's about the imports.
@@fadesola2002 Ronu is that you??? you are here again abi
@@sonuga that is such an absurd proposition on its face. The reason the naira fell was that the government stopped spending 20-40bn per annum to subside consumption via importation for things like rice.
Because forever in nigeria until we were broke we ALL supported and actively participated in the importation of foreign goods instead of investing in infrastructure
The nigerian economy is very simple. Stop making it complicated
@fadesola2002 it's always the Ronu's defending the indefensible bcos their son is sitting on there 😒
How can the actual GDP in Nigeria be $200b when investment in a new business like Dangote Refinery alone is over $20b?
Yes, a few businesses had stopped production in Nigeria, but we have new massive businesses along Lagos-Ibadan expressway.
Analysts would view our budget in dollars but approach our deficit in naira.
Funny!
GDP is not a measurement of assets. It's a measure of spending over a period of time. GDP = Consumption + Investment + Government Spending + export - import
@@miftaudeenabdulhameed1320 Yes but Dangote is a production enterprise so the argument still stands, $200b is not a believable figure for the size of the Nigerian economy, we wait until the NBS releases the figures of the rebasing to get a better picture of the size
@@cj-ux4sq If Dangote Refinery For Example is to be taken into Consideration. Only The Investment in the refinery for the Quarter under Review + The Products in the quarter both local and export - imports by the refinery in the quarter will be taken into account. So don't Expect that they will just add $20bn to the GDP. Rebasing will only add new data that were not previously considered. The dynamics of Nigeria Economy has not dramatically change such that new entries will change the data significantly
@miftaudeenabdulhameed1320 So, Dangote investment and fintech companies were added to the 2014 figures upon which NBC is referencing to estimate growth, right?
Who added all the new fertilizer companies and real estates in Lekki, Abuja, and other parts of the country?
Have we added the trillions in investment into infrastructure in the last 10years?
@@olajideabraham9767 GDP is measured in per quarter. Only transactions within the quarter is used in measuring GDP
$300billion on the table? Please someone should explain to me..
I don't way this man keeps interrupting his guest during interviews.
Please allow one to express himself.
It’s really ridiculous
APC is a curse to Nigeria