Opinion: Nigerians don’t care about their ‘new economy’
By Red Media Africa’s Chude Jideonwo, Special to CNN
April 11, 2014 — Updated 0933 GMT (1733 HKT)
Nigeria’s unemployment numbers are abysmal
Editor’s note: Chude Jideonwo is managing partner of Red Media Africa, which holds the continent’s largest portfolio of youth media brands. He has worked as a journalist for 14 years, including as editor and member of the editorial board at NEXT Newspapers. His book, “Are we the turning point generation?” is out in May. The opinions expressed in this commentary are solely his.
(CNN) — Nigeria woke up on Sunday to a brand new economy, apparently.
The federal government had changed the baseline for calculating Gross Domestic Product for the first time since 1990, and as a result the economy was boosted by around 75%. This was thanks, in part, to the contributions of accelerated sectors like telecoms and entertainment.
Overnight, the economy of the “giant of Africa” had grown from $292 billion to $510 billion. It could now claim to be Africa’s largest economy, and the world’s 26th.
It was another headline-grabbing moment for a government already smug from Nigeria’s status as one of the “MINT” economies, which also includes Mexico, Indonesia and Turkey. They are seen as successors to the now-famous BRICs as profiled by former Goldman Sachs economist, Jim O’Neill.
But more interesting than this news is the countrywide response. In summary, it was a loud hiss.
To hear one columnist tell it, “until Iya Ramota, the tomato seller at Mile 12 Market, can be guaranteed uninterrupted power supply… any economic statistic indicating that Nigeria is the largest economy in Africa … cannot be worth more than the paper it is written on!”
To be sure, this is not a particularly bright argument. No country is changed overnight.
After all, statistics matter. Read More…………..
22 Comments
Everything is very open with a precise clarification of the challenges.
It was really informative. Your website is useful.
Thank you for sharing!
Thank you for another fantastic post. The place else may anyone get that
kind of information in such a perfect method of writing?
I’ve a presentation next week, and I am on the search for such
information.
I got this web site from my friend who shared with me regarding this web site
and now this time I am browsing this web page and reading very informative articles at this time.
Hi. I found your blog utilizing msn. This is a perfectly written article.
I will be sure to bookmark it and also return to read more of
your helpful information. Many thanks for the post.
I will surely return.
I’d like to find out more? I’d like to find out more details.
Thanks for the write up. I certainly agree with what you’re
saying. I have been talking about this subject a lot lately with my brother so ideally this will
get him to see my viewpoint. Fingers crossed!
With the progression in technology, new features have been added in the advanced games boom beach general that run on different operating
systems. For the iOS-based handset, this game can get boring after a while since it just enables 2 players to participate whilst it’s going to
be willing to pay for. Laughter and maybe friendly boom beach general curses will arise once you download this game on Google play for $6.
Internet calls is available as desktop applications, mobile applications, they are even made available for Android and iOS systems.
Heya i’m for the first time here. I came across this board and I find It really helpful & it helped me out much.
I’m hoping to present one thing back and help others such
as you aided me.
As a Novice, I am always exploring on the internet for
articles that can be of assistance to me. And yours is certainly one.
Thanks.
Hello there there! Good post! Please keep us updated!
Really fantastic information can be found on this web blog.
Wonderful post! We will be linking to this particularly great article on our
website. Keep up the great writing.
I saw lots of website but I believe this one has got something great in it.
Many thanks for sharing.
Wonderful work! This is the kind of information that
are supposed to be shared across the web. Disgrace on the seek engines for now not positioning this
put up upper! Come on over and talk over with my site
. Thanks =)
I’m extremely inspired together with your writing skills and also with the structure for your blog.
Is this a paid subject matter or did you modify it yourself?
Anyway keep up the nice quality writing, it’s rare to peer a nice blog like this one today..
I’ve wound-up alterably like amateur and that I like retaining diverse types of
Glass Pipes.
This company prolong the very same attributes to various other sites if the partner advertising course clicks on any of their internet sites.
You should take part in a contest for one of the highest
quality websites on the internet. I most certainly will recommend this
web site!
Hmm it seems like your website ate my first comment (it was super long) so
I guess I’ll just sum it up what I wrote and say,
I’m thoroughly enjoying your blog. I too am an aspiring blog blogger but I’m still new to everything.
Do you have any tips for novice blog writers?
I’d certainly appreciate it.
Howdy! This post could not be written any better! Reading through this post
reminds me of my old room mate! He always kept talking about this.
I will forward this article to him. Fairly certain he will have a good read.
Thank you for sharing!
Hi! I know this is kinda off topic nevertheless I’d figured
I’d ask. Would you be interested in exchanging links or maybe guest authoring a blog post or
vice-versa? My website covers a lot of the same subjects as yours
and I think we could greatly benefit from each other.
If you are interested feel free to shoot me an e-mail. I look forward to
hearing from you! Terrific blog by the way!
Thanks for sharing such a pleasant opinion, article is
pleasant, thats why i have read it completely