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Nigeria the largest economy? Really?
McReggae
#1 Posted : Friday, April 04, 2014 7:55:33 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Nigeria to Overtake S. Africa at Africa's top Economy!!!

Si Oga brothers watapiga kelele!!!!
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
kysse
#2 Posted : Friday, April 04, 2014 8:13:41 AM
Rank: Elder

Joined: 1/17/2013
Posts: 4,693
Location: Earth

They have tukananad enough since the news broke. But this is a pipe dream because shida za Nigeria alone will not allow them to become a super power .We are fairing better than than them.
masukuma
#3 Posted : Friday, April 04, 2014 9:11:52 AM
Rank: Elder

Joined: 10/4/2006
Posts: 13,823
Location: Nairobi
kysse wrote:

They have tukananad enough since the news broke. But this is a pipe dream because shida za Nigeria alone will not allow them to become a super power .We are fairing better than than them.

GDP is not everything! it's just a measurement of one aspect of an economy. Kuna GDP per capita, human development index e.t.c.. Kenya has a higher GDP than most countries in Africa but countries e.g. Mauritius e.t.c.
All Mushrooms are edible! Some Mushroom are only edible ONCE!
Swenani
#4 Posted : Friday, April 04, 2014 10:09:18 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum


Niegeria -This is a new country.

GDP is utter nonsense. Only the top percent in each country benefit when the GDP expands.GDP is a misleading indicator of quality of life due to the following
1. More populated countries tend to have higher GDP e.g Nigeria, China, USA, Russia etc which doesn’t imply improved quality of life for the residents.
2. Reffering to point one above, GDP and per capita income assumes that all citizens make an equal contribution to GDP.Which is false considering that only the top percent and corrupt benefit from a higher GDP.
3. GDP per capita is a misleading since in some countries the people who are responsible for production of final goods and services in that country may not be residents of the same country hence leading to an understatement of overstatement of GDP per capita
Some examples to prove that the size of GDP doesn’t necessarily affect the quality of life.
1. USA and China have the largest GDP’s but are ranked at 22 and 82 respectively in terms of life satisfaction.
2. China has the 2nd largest GDP size but its ranked No.93 in terms of GDP per capita.
3. Denmark is ranked 33 and 20 in terms of GDP size and GDP per capita respectively but it’s ranked No.1 in terms of life satisfaction.
If Obiero did it, Who Am I?
masukuma
#5 Posted : Friday, April 04, 2014 10:24:40 AM
Rank: Elder

Joined: 10/4/2006
Posts: 13,823
Location: Nairobi
Swenani wrote:


Niegeria -This is a new country.

GDP is utter nonsense. Only the top percent in each country benefit when the GDP expands.GDP is a misleading indicator of quality of life due to the following
1. More populated countries tend to have higher GDP e.g Nigeria, China, USA, Russia etc which doesn’t imply improved quality of life for the residents.
2. Reffering to point one above, GDP and per capita income assumes that all citizens make an equal contribution to GDP.Which is false considering that only the top percent and corrupt benefit from a higher GDP.
3. GDP per capita is a misleading since in some countries the people who are responsible for production of final goods and services in that country may not be residents of the same country hence leading to an understatement of overstatement of GDP per capita
Some examples to prove that the size of GDP doesn’t necessarily affect the quality of life.
1. USA and China have the largest GDP’s but are ranked at 22 and 82 respectively in terms of life satisfaction.
2. China has the 2nd largest GDP size but its ranked No.93 in terms of GDP per capita.
3. Denmark is ranked 33 and 20 in terms of GDP size and GDP per capita respectively but it’s ranked No.1 in terms of life satisfaction.

GDP is not 'useless' it simply does not paint the whole picture. there many things. kuna GPD per capita, GINI (inequality coefficient), Human development index (HDI) < -- all these paint the correct picture of what is supposed to be a 'good country'. Remember my comment on another thread that Tokoyo in 2007 had more GDP that the whole of Africa combined now? it tells a story but not the whole story!! When we say Nigeria has a high GDP we mean that it's large population is being engaged in 'production'. GDP is not wealth and is not 'a good life'

PS. Nordic countries and Japan that have 'high satisfaction indicators' are also countries with high rates of depression and suicides

http://healthland.time.c...e-highest-suicide-rates/
All Mushrooms are edible! Some Mushroom are only edible ONCE!
Swenani
#6 Posted : Friday, April 04, 2014 10:40:41 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
masukuma wrote:
Swenani wrote:


Niegeria -This is a new country.

GDP is utter nonsense. Only the top percent in each country benefit when the GDP expands.GDP is a misleading indicator of quality of life due to the following
1. More populated countries tend to have higher GDP e.g Nigeria, China, USA, Russia etc which doesn’t imply improved quality of life for the residents.
2. Reffering to point one above, GDP and per capita income assumes that all citizens make an equal contribution to GDP.Which is false considering that only the top percent and corrupt benefit from a higher GDP.
3. GDP per capita is a misleading since in some countries the people who are responsible for production of final goods and services in that country may not be residents of the same country hence leading to an understatement of overstatement of GDP per capita
Some examples to prove that the size of GDP doesn’t necessarily affect the quality of life.
1. USA and China have the largest GDP’s but are ranked at 22 and 82 respectively in terms of life satisfaction.
2. China has the 2nd largest GDP size but its ranked No.93 in terms of GDP per capita.
3. Denmark is ranked 33 and 20 in terms of GDP size and GDP per capita respectively but it’s ranked No.1 in terms of life satisfaction.

GDP is not 'useless' it simply does not paint the whole picture. there many things. kuna GPD per capita, GINI (inequality coefficient), Human development index (HDI) < -- all these paint the correct picture of what is supposed to be a 'good country'. Remember my comment on another thread that Tokoyo in 2007 had more GDP that the whole of Africa combined now? it tells a story but not the whole story!! When we say Nigeria has a high GDP we mean that it's large population is being engaged in 'production'. GDP is not wealth and is not 'a good life'

PS. Nordic countries and Japan that have 'high satisfaction indicators' are also countries with high rates of depression and suicides

http://healthland.time.c...-highest-suicide-rates/[/quote]

@Makales, I don't agree with that statement.In countries where we have corruption and inequities like Kenya,south Africa and Nigeria.Its the elite minority who are involved in production.
If Obiero did it, Who Am I?
masukuma
#7 Posted : Friday, April 04, 2014 11:04:42 AM
Rank: Elder

Joined: 10/4/2006
Posts: 13,823
Location: Nairobi
Swenani wrote:
masukuma wrote:
Swenani wrote:


Niegeria -This is a new country.

GDP is utter nonsense. Only the top percent in each country benefit when the GDP expands.GDP is a misleading indicator of quality of life due to the following
1. More populated countries tend to have higher GDP e.g Nigeria, China, USA, Russia etc which doesn’t imply improved quality of life for the residents.
2. Reffering to point one above, GDP and per capita income assumes that all citizens make an equal contribution to GDP.Which is false considering that only the top percent and corrupt benefit from a higher GDP.
3. GDP per capita is a misleading since in some countries the people who are responsible for production of final goods and services in that country may not be residents of the same country hence leading to an understatement of overstatement of GDP per capita
Some examples to prove that the size of GDP doesn’t necessarily affect the quality of life.
1. USA and China have the largest GDP’s but are ranked at 22 and 82 respectively in terms of life satisfaction.
2. China has the 2nd largest GDP size but its ranked No.93 in terms of GDP per capita.
3. Denmark is ranked 33 and 20 in terms of GDP size and GDP per capita respectively but it’s ranked No.1 in terms of life satisfaction.

GDP is not 'useless' it simply does not paint the whole picture. there many things. kuna GPD per capita, GINI (inequality coefficient), Human development index (HDI) < -- all these paint the correct picture of what is supposed to be a 'good country'. Remember my comment on another thread that Tokoyo in 2007 had more GDP that the whole of Africa combined now? it tells a story but not the whole story!! When we say Nigeria has a high GDP we mean that it's large population is being engaged in 'production'. GDP is not wealth and is not 'a good life'

PS. Nordic countries and Japan that have 'high satisfaction indicators' are also countries with high rates of depression and suicides

http://healthland.time.c...-highest-suicide-rates/


@Makales, I don't agree with that statement.In countries where we have corruption and inequities like Kenya,south Africa and Nigeria.Its the elite minority who are involved in production.

wewe jufurahishe.... countries with larger populations have larger economies (consumption? perhaps)but production as well.
All Mushrooms are edible! Some Mushroom are only edible ONCE!
McReggae
#8 Posted : Friday, April 04, 2014 11:41:09 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
The topic simply states that Naijja will have the biggest GDP in Africa, @Swenani, is that alone not a reason for them to celebrate?
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
Swenani
#9 Posted : Friday, April 04, 2014 1:09:08 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
Jangwa la Jangili
#10 Posted : Friday, April 04, 2014 4:41:02 PM
Rank: Member

Joined: 10/9/2009
Posts: 311
Bigger gdp is good news for the state more than it is for the people. Larger gdp usually means more disposable income for the government in the form of revenue or tax.
Katika Jangwa la Jangili ndipo Pwagu hupata Pwaguzi.
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