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How big is Nigerian economy?
Rank: Elder Joined: 10/4/2006 Posts: 13,823 Location: Nairobi
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Swenani wrote:masukuma wrote:Stats are attempts at telling stories. GDP tells a story! that story is not false... it's a true story only that it's not a complete story. GDP per capita tells a story... that story is not false but not the whole story. Think about it SA is a wealthy country... highest GDP per capita in Africa BUT the GINI coefficient is terrible! while you may have great GDP per capita levels of inequality may be quite high! the only thing a poor fellow in SA has over the poor fellow in Kenya is that he can see wealth around him and has the title 'South African'... hii yote ni 'yetu'  . S.A doesnt have the highest GDP per capita in Africa. So it seemsGINI coefficient is the only stat that tells a true and whole story. It shows how the country's poverty/wealth is shared you can have very little wealth shared nicely all around and the GINI coefficient that is lovely! that is not the 'whole' story! All Mushrooms are edible! Some Mushroom are only edible ONCE!
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Alba wrote:As I said earlier, Naija is a tribal society but far less tribal than Kenya. Their elections are more issue based. They actually vote on issues like security as opposed to Kenya where elections are 95% tribal. Wale hawana tyranny of tribalism wala tyranny of numbers. Naija man just wants to hustle and make money and will vote for whomever enables him to make money.
That makes a huge difference because presidents are actually held accountable for on the job performance. I think they have the tyranny of Numbers.Thats why the presidency rotates between the North and South,atleast for the PDP party(two terms each-its not in constitution but a gentleman agreements-They should take kibaki there) If Obiero did it, Who Am I?
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Rank: Elder Joined: 12/27/2012 Posts: 2,256 Location: Bandalungwa
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Swenani wrote:Alba wrote:As I said earlier, Naija is a tribal society but far less tribal than Kenya. Their elections are more issue based. They actually vote on issues like security as opposed to Kenya where elections are 95% tribal. Wale hawana tyranny of tribalism wala tyranny of numbers. Naija man just wants to hustle and make money and will vote for whomever enables him to make money.
That makes a huge difference because presidents are actually held accountable for on the job performance. I think they have the tyranny of Numbers.Thats why the presidency rotates between the North and South,atleast for the PDP party(two terms each-its not in constitution but a gentleman agreements-They should take kibaki there) If they had tyranny of numbers then presidents would be from the big ethnic groups. Note that Hausa are the largest ethnic group yet there has never been a Hausa president. In fact most Naija presidents have been from very small ethnic groups. Goodluck is Ijaw which is about 3-5% of the populace. Thats like Kenya having a Pokomo or Teso as president. When Obasanjo ran for election, his own Yorubas rejected him. He got most of his votes from the Southeast. The good thing about having a president from a small ethnic group is that he more likely to be held accountable for performance unlike the damaging psycophancy that prevails in Kenya.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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masukuma wrote:Swenani wrote:masukuma wrote:Stats are attempts at telling stories. GDP tells a story! that story is not false... it's a true story only that it's not a complete story. GDP per capita tells a story... that story is not false but not the whole story. Think about it SA is a wealthy country... highest GDP per capita in Africa BUT the GINI coefficient is terrible! while you may have great GDP per capita levels of inequality may be quite high! the only thing a poor fellow in SA has over the poor fellow in Kenya is that he can see wealth around him and has the title 'South African'... hii yote ni 'yetu' . S.A doesnt have the highest GDP per capita in Africa. So it seemsGINI coefficient is the only stat that tells a true and whole story. It shows how the country's poverty/wealth is shared you can have very little wealth shared nicely all around and the GINI coefficient that is lovely! that is not the 'whole' story! PPP is not a good measure of the economy. A country like Equitorial Guinea where the president owns almost everything potrays such a lie of power parity "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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A lot of misinformation. Nigeria's economy is huge, but the difference between the rich and poor is even more huge! Its very few Nigerians who actually enjoy their huge economy, majority cannot wait to leave Nigeria. But one thing is true, Nigerians do love their country, specifically the villages they came from and they frequently hold fundraisers to develop their villages. That's one thing I have never seen Kenyans do, hundreds of people gathering with the sole intent of building a school, hospital etc without government initiative, just regular people. The undoing of Nigeria is the amount of corruption. The reason Goodluck Jonathan is President yet he comes from a minority group is not because Nigerians are wise and vote on issues, no it is because to even dream of getting any government position you have to be extremely monied and very connected. Ask the average Naija, they do not like Goodluck and they frequently curse him out, but they will tell you that next election, he will be the winner. The amount of corruption in Nigeria is mind boggling, Goodluck is the first President who did not have prior military connections, so this should tell you just how connected and corrupt he is to get that seat. Being President is not just about leadership, when you become President you literally have access to all the resources, so you give away an oil well as gifts to your friends who brought you to power. That's why just about every Nigerian tycoon is an oil tycoon, just sit back and imagine how much money one can make from owning oil wells. Nigeria's economy is only great for the ruling elite, for the regular mwananchi Nigeria sucks, those who make it to America always make sure they get American citizenship and make Nigeria their second home, not first home!
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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But Nabwire isnt that the same story in almost everywhere in Africa? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 10/4/2006 Posts: 13,823 Location: Nairobi
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murchr wrote:masukuma wrote:Swenani wrote:masukuma wrote:Stats are attempts at telling stories. GDP tells a story! that story is not false... it's a true story only that it's not a complete story. GDP per capita tells a story... that story is not false but not the whole story. Think about it SA is a wealthy country... highest GDP per capita in Africa BUT the GINI coefficient is terrible! while you may have great GDP per capita levels of inequality may be quite high! the only thing a poor fellow in SA has over the poor fellow in Kenya is that he can see wealth around him and has the title 'South African'... hii yote ni 'yetu' . S.A doesnt have the highest GDP per capita in Africa. So it seemsGINI coefficient is the only stat that tells a true and whole story. It shows how the country's poverty/wealth is shared you can have very little wealth shared nicely all around and the GINI coefficient that is lovely! that is not the 'whole' story! PPP is not a good measure of the economy. A country like Equitorial Guinea where the president owns almost everything potrays such a lie of power parity I did not say PPP is the best measure - I said each of these metrics are useful! they tell different parts of the story that is development. High GDP countries are seen to be 'mighty' and generally their governments have large tax bases and lots of cash - they can afford stuff like going to space and stuff. High GDP PPP shows that a country on average is not doing badly and together with good GINI coefficient - people may be living well. HDI shows how people on average people's lives are wealth wise, education wise and health wise! Each is a window into this whole thing we call development All Mushrooms are edible! Some Mushroom are only edible ONCE!
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Rank: User Joined: 9/6/2013 Posts: 1,446 Location: In a house
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masukuma wrote:Stats are attempts at telling stories. GDP tells a story! that story is not false... it's a true story only that it's not a complete story. GDP per capita tells a story... that story is not false but not the whole story. Think about it SA is a wealthy country... highest GDP per capita in Africa BUT the GINI coefficient is terrible! while you may have great GDP per capita levels of inequality may be quite high! the only thing a poor fellow in SA has over the poor fellow in Kenya is that he can see wealth around him and has the title 'South African'... hii yote ni 'yetu' . I thought it was Gabon and E. Guinea at the top with Seychelles and Botswana following. Yes, SA has the highest GNI coefficient. Check your stats about the former.
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Rank: User Joined: 9/6/2013 Posts: 1,446 Location: In a house
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 masukuma wrote:masukuma wrote:murchr wrote:masukuma wrote:Stats are attempts at telling stories. GDP tells a story! that story is not false... it's a true story only that it's not a complete story. GDP per capita tells a story... that story is not false but not the whole story. Think about it SA is a wealthy country... highest GDP per capita in Africa BUT the GINI coefficient is terrible! while you may have great GDP per capita levels of inequality may be quite high! the only thing a poor fellow in SA has over the poor fellow in Kenya is that he can see wealth around him and has the title 'South African'... hii yote ni 'yetu' . Wrong. Nigeria has the highest GDP in Africa wewe... soma vizuri... PER CAPITA! my bad... it's not even the highest akina Equatorial Guinea,Gabon, Botswana beat it!
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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murchr wrote:But Nabwire isnt that the same story in almost everywhere in Africa? No its not. In Nigeria, there is really no point in holding elections, they already know who the winner is long before the elections. In Kenya there is some rigging and its usually on both sides, but atleast the people's votes are counted. In Nigeria, its announced that the Presidential candidate got say 10 million votes from some Northern state, yet the population there is maybe 8 million, coz they know no one will dare go to Boko Haram territory to monitor or count the votes. The decision of who will be President is decided by the elites, the citizens voting is just cosmetic. Atleast in Kenya Uhuru had to sweat bullets, hold rallies and convince people to vote for him.
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