Why Nigeria’s GDP Should Be Rebased To $1.5trillion- Wale Adeosun

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Why Nigeria’s GDP Should Be Rebased To $1.5trillion- Wale Adeosun

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2 ай бұрын

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@sulaak Ай бұрын

Complete madness. This is the reason why Nigeria acquired large debt because they thought that the country GDP was $500billion. The country should focus on building infrastructure capacity and not virtue GDP

@rotimikayode1072 Ай бұрын

What are you talking about.

@rotimikayode1072 Ай бұрын

Nigeria's GDP is far higher in real terms than what it is currently valued at.

@doctimothy Ай бұрын

Nigeria's GDP is undervalued... lol. So many new sectors are not captured.

@bzb8554 Ай бұрын

@@rotimikayode1072 Wale Adeosun is just as incompetent as y'all's brother Ahmed Tinubu 😂. If your economy goes up 5x and your currency is devalued by 80%, guess what you have? Try some critical thinking.

@rotimikayode1072 Ай бұрын

The current value of Nigeria's GDP was based on the devalued exchange rate, not on the reality on the ground. Nigeria's economy is still very strong and the country is not at the risk of debt default.

@emekanadu Ай бұрын

he's clearly not an economist. GDP is based on output, not inflows. Real sectors are largely unproductive. Agriculture is dying in the north. Companies are leaving in droves. Sure there are a few investments here and there, but is that being put to productive uses? or just buying expensive homes in Ikoyi?

@bzb8554 Ай бұрын

What do you expect? They aren't bright people. All they do is steal, w0rship oyinbos and practice tribalism. Just look who they proudly put in office 😂

@rotimikayode1072 Ай бұрын

You can count the companies that left on the tips of your fingers and they didn't leave suddenly. They have been planning to leave long before now. Besides, Nigerians are buying the assets of the leaving companies. So, nothing is lost, but foreign dominations. Nigeria is on the right path.

@tundebakare6887 Ай бұрын

Trust me my Naija people 😊

@sladewilson377 6 күн бұрын

@@rotimikayode1072 Nigeria is a failed state

@sladewilson377 6 күн бұрын

@@rotimikayode1072 Nigeria is a failed state

@ebibomodi4259 Ай бұрын

He's talking bullshit

@amumejitaiwo4813 Ай бұрын

Because you are so dull and unintelligent to understand him

@knowledgecrystalchemistry Ай бұрын

You are the one talking bullshit ... Who infected you with hatred for success and for Nigeria...All the things he said was true and it shows you are not current about the investment climate in Nigeria.... Nigeria is going places...I hope you heard that man that young Nigerian Companies that will take over from the colonial companies are around here....I am proud to say it that in the Fast moving consumer goods sectors,the competition from Nigeria owned manufacturers is becoming hot even in the face of the present harsh economic conditions and realities so some of this household names can't handle the heat plus some ugly policies made by the government for Future sake ....

@devehub8344 Ай бұрын

This is a classic scene of a moron arguing with a doctor about health issues or that you can kick football and now think you as good as Messi.

@Kastady Ай бұрын

We are poor. Nigerians are suffering. Can we ve serious for once? Can our institutions work? Or at least be allowed to work?

@bayodeawobayiku8392 Ай бұрын

Makes lots of sense, I think we are responsible for singing our songs.

@Kastady Ай бұрын

And singing poverty

@sulaak Ай бұрын

Rubbish, Large GDP on low growth and low productivity. SA and Egypt generate over 50,000MW of electricity and have a diverse economy that includes tourism, manufacturing and agriculture processing

@topecharles1978 Ай бұрын

Is private sector not by government even you can generate it for Nigeria for ur own personal business

@doctimothy Ай бұрын

Do you fully understand what GDP is? The fact that there's no electricity means people will buy generators and then more people will buy diesel. The generator market which is not supposed to exist if we had light is in itself a GDP driver. New market means new value chain which means freshly created GDP elements and parameters.

@shangothunder1055 Ай бұрын

False

@bzb8554 Ай бұрын

@@doctimothy do you understand Economics at all? 🤔 What's the material essence of IMPORTING generators to fuel production in an entire country? Ahmed Tinubu, Wale Adeosun and the nigbati brotherhood of the incompetent will only run the country to the ground..

@bzb8554 Ай бұрын

@jamesmiller2735 Ай бұрын

How can a country that produces virtually nothing have a GDP of 1.5 trillion dollars? Maybe he will add the value of all Nigerian citizens, which might be traded as commodities if things continue on its current trajectory.

@Juslucky1 Ай бұрын

Forget all that lingo; the only FDI to Nigeria is by Nigerians in diaspora. QED

@stainlesssmart139 Ай бұрын

You are right. Dangote R will also be making a very significant FX Remittance into the Economy as well in coming Months....

@tundebakare6887 Ай бұрын

@@stainlesssmart139exactly

@emmanueladeyosoye3607 Ай бұрын

Remittances are for consumption and not production

@user-ju6vs1rh1z Ай бұрын

consumption creates more production

@emmanueladeyosoye3607 Ай бұрын

@@user-ju6vs1rh1z in sane countries were coats of production is competitive

@folabiakin1 Ай бұрын

As much a I'd like to agree with Wale Adeosun, I struggle to see the logical justification for a $1trillion+ GDP for Nigeria. The Rockefeller Foundation and other foundations he mentioned are not purely commercial investors. Most of funding it provides is via grants or at best blended finance mechanisms. While there may be some justification something higher than our current sub-$300bln GDP, a $1.5trillion GDP for Nigeria is an overkill. I hope this doesn't activate some 419-rebasing of our GDP from the government to look good for the next elections.

@ebibomodi4259 Ай бұрын

Heritage bank has 99.9% of it's depositors with less than 5mml Naira

@lukulamagnus5198 Ай бұрын

Here's proof private sector much more efficient than Govt sector. The Agriculture and value chain still dormant. Hence more to come.

@iali00 Ай бұрын

It’s obvious that the GDP is higher but who cares. Focus on industrialization like what Dangote is doing. GDP is a horrible measure of the economy and quality of life.

@rotimikayode1072 Ай бұрын

Is it the government that will build factories for you. You need to stop this attitude of, it is somebody else that will do something. What about you.

@shangothunder1055 Ай бұрын

Nah it’s a measurement just not one that covers all bases.

@iali00 Ай бұрын

@@shangothunder1055 when you have major oil spill or natural disaster and they spend a lot of money cleaning up or repairing, that’s counted towards GDP but how is any of that helpful to the daily lives of any citizen. Better to avoid the disaster.

@josephomole6404 Ай бұрын

They should not rebase anything there. Cos they will use new gdp to go and be borrowing money.

@akinfabunmi8186 Ай бұрын

All the grammar of rebasing just means lying. Nigeria wants to use "fake it until you make it for economy". That country is just full of scam! No one one is sure of the true population of the country, now also they want to do same to GDP. Rather than increase productivity and curb corruption, they want to do "Voodoo economics"😂

@shangothunder1055 Ай бұрын

Nope

@user-uu2xo1kf2j Ай бұрын

Thanks Mr wale very knowledgeable economist please your country help Nigeria understand your view point. I leave in USA and I think you have the pedigree to help. Economics activity seems to be more than as projected.

@sladewilson377 6 күн бұрын

He’s delusional

@stainlesssmart139 Ай бұрын

Insignificant for the so called former largest Economy in Africa. Investors want to see a foreseeable 25-30Bn USD FDI coming to Nigeria...Give it just 6weeks Economists will come back on your Channel to talk about the value of NGN and Nigeria's Economy. In other words, This World Bank whatever is just 0.00002 % SIZE of the Economy. This 2-3 Billions USD from here and there wont make any major IMPACT in Nigeria's Economy. Nigeria is not Ghana, Kenya, Benin Rep, Tanzania etc.... Nigeria should be eyeing Countries like its Size in making Requests...Common Egypt eyes BIG and they got it. why cant Nigeria ? If there is any MAGIC the CBN can do to bring back the value of the NGN at least 600-650 vs 1USD. Let it do it. Otherwise, Many Foreign Companies will continue to exit Nigeria. RAW Truth Nigeria and Nigerians have become more Poorer under Tinubu.

@Kastady Ай бұрын

The best comment I have seen.

@valentinemaduka6187 Ай бұрын

Test book test book test book economics. Rice is sold in satchets now, bread are sold as 1loaf shared into 2 or 3 and sold by sellers who some years and months ago sell only full loafs all because buyers can't buy full loafs anymore but they must sell so they change approach. Every good sold in our market now has two, three or more versions use Reinforcement bars for instance about 3 types or section sizes of each sells grade

@valentinemaduka6187 Ай бұрын

Whenever I hear all these armchiar economics. He talking of disposabke incomes and profit returns of some companies he makes no mention of businesses loosing money. On my street and I see new businesses open and close the next year or two years because they cannot renew there rentals

@Therealclips-ib8bm Ай бұрын

Yeah, I’ve thought about that too. Although it was just a suspicion. I thought Nigeria’s gdp might be inaccurate. Because most of its trade occurs outside the known economy. At this point I should be calling myself a think tank 🤣. I overthink stuff. Still, the problem with all this is that, most of all the wealth is still held by an elite few. And those elite few are not willing to allow the money trickle down to the average citizen.

@sladewilson377 6 күн бұрын

@@Therealclips-ib8bmyou would need evidence as to much but there is no way it’s anywhere as high as what this guy is saying.

@sladewilson377 6 күн бұрын

@@Therealclips-ib8bm you would need evidence as to much but there is no way it’s anywhere as high as what this guy is saying.

@Therealclips-ib8bm 6 күн бұрын

@@sladewilson377 true.

@obiflex Ай бұрын

When they rebased the Nigerian economy in 2014, I rejected it. I told my colleague that SA was still the largest economy in Africa and we had a serious argument. Today, using the same metrics as was used in 2014, they have come to the conclusion that Nigeria's economy has shrunk to become the 4th largest economy in Africa. If we rebase again, it will be crystal clear that we're simply forging the numbers to appear bigger. It's clear to everyone on the streets that Nigeria's economy is shrinking fast and consumer goods manufacturers are quitting the country because Nigerians can no longer afford basic necessities. Why is it that when you look at any sector where figures are verifiable Nigeria ranks poorly but we want to keep relying on UNVERIFIABLE numbers to boost our gdp figures?

@youme1414 Ай бұрын

Prove it? Stop being a puppet of Bloomberg.

@sladewilson377 6 күн бұрын

@@youme1414look at the hunger protests, if truly disposable incomes were going. People wouldn’t be doing that on the streets.

@sladewilson377 6 күн бұрын

@@youme1414 look at the hunger protests, if truly disposable incomes were going. People wouldn’t be doing that on the streets.

@youme1414 6 күн бұрын

@@sladewilson377 It is clear it is about bad governance. I would rather be hungry in Nigeria than in South Africa. Thank you.

@sladewilson377 6 күн бұрын

@@youme1414 it’s called the hunger protests and that’s wrecked the economy even more. The protests are still active. The reality is that Nigerian GDP is just around $250 billion lower than South Africa.

@samchs222 Ай бұрын

But they are paying about 30% of budget on servicing debt. Imagine them getting all the debts they ask for

@AK-ql1ww Ай бұрын

Nonsense. It's like saying since our population has increased so also has our GDP and so let's rebase

@devehub8344 Ай бұрын

Please listen B4 you type, he said there are now 7 unicorns in Nigeria now, the creative economy have grew intensely since the last time the GDP was rebase, even private capital money has come in 5 fold.

@akinfabunmi8186 Ай бұрын

@@devehub8344So your 7 unicorns is what will make you rebase to 1.5 trillion dollars. Do you have Unicorns more than South Korea at around same 1.5 trillion dollars, Unicorns more than Switzerland at 940 billion dollars, or Netherlands, Indonesia and Spain at around 1.4 trillion dollars or Saudi Arabia, the energy giants at around 1.1 trillion dollars that you want to rebase your own to 1.5 trillion dollars. Some of you think with your anus and that's why they can keep deceiving you and pumping your ego that all is fine.

@sladewilson377 6 күн бұрын

@@devehub8344 Nigeria only has 5 unicorns

@sladewilson377 6 күн бұрын

@@devehub8344 Nigeria has 5 not 7 unicorns, and while the creative economy has grown. It’s still not significant.

@BroKingsleyNUzoma Ай бұрын

Economics grammar that's all we know how to speak with nothing tangible to show on ground.

@junkieyard2109 Ай бұрын

no mind this idiot speaking fonetics with no result

@hebanemarcguehi7001 Ай бұрын

Even his economic grammar is wrong and delusional. 😅

@antnam4406 Ай бұрын

I like doesrs, people who bring solution rather than jokers that complain from morning to night.

@user-lx1gx1oc1e Ай бұрын

in jesus name Amen 🙏 May it fovour me and my generation in Jesus name Amen 🙏 Glory be to God who work mightily in me through Christ Jesus Amen 🙏 Actually it reminds me of the wold of the lord in the bible, 1King 10; Where the lord bless King solomon, i believe that's how the lord will believe Nigeria Amen 🙏

@spikezlee Ай бұрын

Nonsense

@tundeakinbobola101 Ай бұрын

Nigeria shall be great!

@sladewilson377 6 күн бұрын

@@tundeakinbobola101 it never will be

@sladewilson377 6 күн бұрын

@@tundeakinbobola101 never will be

@sladewilson377 6 күн бұрын

@@tundeakinbobola101 never in a trillion years

@sladewilson377 6 күн бұрын

@@tundeakinbobola101 never in a trillion years

@billcosoritse6798 Ай бұрын

God bless and guide the president of

@user-ju6vs1rh1z Ай бұрын

FEDERAL REPBULIC OF NIGERIA and her GREAT

@ted.n9609 Ай бұрын

Anybody who has knowledge of these African economies, especially Nigeria, with its great potential, could see that Nigeria has an ineffective educational system acquired from the British. Top heavy with theoretical knowledge but lack very much on practical. Nigerians are smart people. they Quickly learn by observation. The majority of Nigerian electricians, plumbers, Auto- mechanics even modern-day computers programming and coding, road contractors, mechine casting or mounding technicians have no formal certificate training . How many Nigerians Auto- mechanics or plumbers have a real practical certification from an accredited technical institutions. These big investors do not pay taxes, and there are no efficient ways for the government to track those lost revenues. If Nigeria could learn how to harness the productivity and potential of the country, they could eliminate hunger and suffering for many Nigerians and harness the greatness of that Country.

@ecotate Ай бұрын

Nigeria is a poor country. It's an insult to mention Nigeria and South Africa in the same sentence! No electricity, kidnappings, banditry, open cow grazing in the 21st century, it's a failed state! Zimbabwe with 15 million people has an annual budget of $10 billion, Nigeria with 220 million people has a budget of $25 billion. Nigeria is a very poor country!

@Southernview3k Ай бұрын

Tinubu is a failure

@samchs222 Ай бұрын

Foreign companies are running away

@bolanoluwa6686 Ай бұрын

What about the ones that are coming in? If 1 goes 10 will replace it. Listen carefully and take advantage of the opportunities around you.

@samchs222 Ай бұрын

@@bolanoluwa6686 how many? Common don't be delusional. Of course there will always be opportunities around but as a country we are significantly poorer compared to the last president which was not good by the way

@rotimikayode1072 Ай бұрын

More investments have come in than have left. Nothing less than $100 billion investments is taking place in Nigeria right now.

@sulaak Ай бұрын

@@bolanoluwa6686 The foreign companies that are leaving have been in Nigeria for over 70 years. The survived the civil war, SAP and Abacha

@samchs222 Ай бұрын

@@rotimikayode1072 what's your source? Trust me bro. Please take time to google and have a proper source before you start spewing nonsense

@youme1414 Ай бұрын

Nigeria still has the largest GDP in Africa ahead of South Africa. Anybody that believes otherwise should provide reputable sources with evidence not hearsay.

@iknowtv7580 Ай бұрын

With only 3000MW of electricity can't produced $500billion dollar economy . ..

@zigibeat3689 Ай бұрын

Lack of common sense is a sin. South Africans enjoy better life and lower poverty rate with their GDP. What do you do with your GDP?

@petermasilo-jo7jg Ай бұрын

South Africa is the most sophisticated industrialized economy with the best worldclass infrastructure and some of the biggest conglomerate companies on the continent in different sectors banking(stanbic ibtc),media entertainment (multichoice group Dstv,showmax),Reatail(shoprite etc),Telecommunications(MTN),pharmaceutical industry (Aspen) all this companies are visible all over Africa,South Africa is the largest economy in Africa and the most influential African nation.

@youme1414 Ай бұрын

@@petermasilo-jo7jg But, those South African businesses are doing better in Nigeria than in SA. Hehehe...

@ambessaseway5594 Ай бұрын

😂😂😂 South Africa is larger than Nigeria&Ghana combined with only 60 million people (10 million foreigners) enough space Land/luxury homes Nigeria is more densely populated than Germany with 244 people on km2

@anetor78 Ай бұрын

Wale Adeosun is absolutely right. Nigeria GDP is far higher than what the World Bank and IMF are saying. They won't want to admit it because it will have a positive implications for Nigeria.

@aframaco9491 Ай бұрын

I wholly concur with you!! It is sad that Nigerians CONTINUE to want to believe estimates and indices takes on Nigeria provided by foreign governments and foreign institutions ! It is obviously not in their interest to see a financially solvent and stable Nigerian economy! If I was the federal government, I would be adding Mr Wale Adeosun to the Nigerian economic management team! He is an astute economic and financial guru with his finger on the pulse!! 👊🏾🇳🇬👊🏾🇳🇬!

@knowledgecrystalchemistry Ай бұрын

I like the fact that he agrees that there is a group that can afford things i.e the middle class and he acknowledged a lot of people are also struggling and that the government need to target the low cadre guys to bring up to speed to earning well and contributing their quota to the economy....

@iknowtv7580 Ай бұрын

With only 3000MW of electricity can't produced $500billion dollar economy...

@aframaco9491 Ай бұрын

@@iknowtv7580 You should realise that in this Information Age, that you can't come and bamboozle people with lies , deceit , misinformation or alternative facts!! Does Nigeria have power generating capacity problems? Of course it does, it is a hindrance of sorts. But Nigeria generates 16,384MW at this time( not 3000)...Absolute FACT! But hear this, this is the mind blowing part!! Nigeria has 37 Billion oil reserves ( our nearest competitors in the former gold coast has only 600 million in comparison). Nigeria also has a whopping 202 trillion cubic feet of Gas reserves, the 9th largest in the world! It is these jaw dropping potentials (as the backdrop) that allows for the great expectations for the Nigerian economy in an upward trajectory!! Not to mention the ongoing projects to capture and register even more varied aspects of Nigerian ingenuity and resourcefulness into the economic landscape! The Nigerian economic future is bright! Very bright 🌞! Understand that!! 👊🏾🇳🇬👊🏾🇳🇬!!!

@tundebakare6887 Ай бұрын

@@knowledgecrystalchemistryexactly

@shangothunder1055 Ай бұрын

Speak the truth don’t let these illiterate enemies of the state in the comments sway you from the path.

@akinfabunmi8186 Ай бұрын

Even Israel has a GDP of 530 billion dollars. So, Nigeria wants to rebase to 1.5 trillion dollars, triple of Israel's GDP🤣🤣🤣. So, even our previous GDP of 500 bn dollars was faked too competing with Israel that has one of the most robust IT sectors in the world with hundreds of Unicorns and a booming agricultural sector. Omo, una no go kill person with laughter for this country.😂

@jyde50 Ай бұрын

Isreal does not have an informal sector like Nigeria. All those market people you see across lagos and Nigeria their economy is not calculated as part of GDP. rebasing will bring into account thier economy

@akinfabunmi8186 Ай бұрын

@@jyde50 I laugh. No wahala na, South Africa do not have market women? India has a population of 1.4 billion, 6 times Nigeria population and their GDP is $3.1 trillion and they gat a lot of market women more than any thing you can claim in Nigeria. If they should rebase, then we should probably talk of them claiming a $10 trillion GDP. Pakistan has more population and market women than Nigeria but not rebasing to $1.5 trillion. Go and rebase na and continue your Voodoo economics

@sladewilson377 6 күн бұрын

@@jyde50 what those market people would contribute to the GDP would be minimal

@bzb8554 Ай бұрын

Wale Adeosun is just another incompetent goofball like his brother Ahmed Tinubu 😂. If your economy goes up 5x and your currency is devalued by 80%, guess what you have?

@ObjectiveObserver-xh4vk Ай бұрын

Absolute garbage! Who brought this man to the studio? Is he aware of how many manufacturing companies that have left Nigeria since APC took over? He's is talking about portfolio investors who have no long-term plans to do business in Nigeria 😂😂😂 APC is indeed a cancer of the mind.

@ICD_OREGONIAN3310 Ай бұрын

Don't mind the foolish man. Speaking Americana as if he's trying to impress his village people 😂😂😂

@youme1414 Ай бұрын

You aren't smart, my friend.