NewStats: 3,264,057 , 8,182,448 topics. Date: Monday, 09 June 2025 at 01:15 PM 4s4kn

Justdare:

Nigeria recorded a trade surplus of N5.81tn in the third quarter of 2024. I trust you know what means. As much as you've chosen to see no growth in your country, the fact remains, the country is moving vertically.

The trading surplus was because of a reduction in importation of essential items. This is what is causing the inflation because the supply is lower than the demand for these commodities. Even the manufacturing index in Nigeria as quoted by MAN dropped significantly due to the economy, so even local capacity is rubbish at the moment. Please try and tell people the truth and stop the propaganda.

Zombies seeing this news will think T-pain is the next best thing after amala. They don't know that dollar still exchange as high as 1700/$.

Zombies are irreparable

jazzman7711:


What about the financial benefits of tourism to those same suffering people?

When tourists enter Nigeria, many go on the streets and markets to buy stuff, they use taxi, they eat our food in restaurants etc. They buy fruits and suya from people on the street.

NOW IMAGINE 10 MILLION of them coming every year?

Or 20 million.

People entering here to spend dollars.

I mean, come on, man. It will help reduce poverty greatly if we do it right.

They are countries where tourism is their ONLY source of income, and they rake in huge money every year. More than the oil money that is shacking our heads.

These countries are active all year round in of tourism. Apart from IJGB during December what has Nigeria offered in of tourism.
You people should really fear God and stop deceiving Nigerians, tell them the real truth about the economy.

TechBaron:
Whoever put up this trash must be high on very cheap adulterated drugs.

Honestly the person is very high

jazzman7711:


YOU WILL REMAIN FOREVER POOR WITH THIS ATTITUDE.

TELL ME HOW ANYBODY CAN SIMULTANEOUSLY DECRY POVERTY IN NIGERIA, AND THEN LAMBAST AND ATTACK THE IDEA OF MILLIONS OF TOURISTS FLOODING INTO THE COUNTRY?

THE DREAM OF EVERY SINGLE NATION ON THE FACE OF THE EARTH?

A GUARANTOR OF MILLIONS OF JOBS?

EITHER YOU ARE EXTREMELY STUPID WITH A VERY LOW IQ, OR YOU ARE A HATEFUL SABOTEUR AND LOSER WHO WANTS NOTHING GOOD FOR THIS COUNTRY BECAUSE YOUR OWN LIFE IS WORTHLESS.

Hold on are you really normal? December had Nigerian diaspora not tourists oooo coming into the country. Their spending didn't even impact the exchange rate one bit, and you are calling them tourists. Again note that the volume of expenditure these guys made is a miniscule fraction of what the state needs for their economy.
You cannot be saying this whereas the real economic indicators for the common man are really in the red. Please stop the lies and tell Nigerians the truth.

nymphomaniac:
where is the lie

But there's poverty. Apart from the IJGB how many Nigerians could afford basic items this December? Let us tell ourselves the truth at times.

Believeintruth:


The trading surplus was because of a reduction in importation of essential items. This is what is causing the inflation because the supply is lower than the demand for these commodities. Even the manufacturing index in Nigeria as quoted by MAN dropped significantly due to the economy, so even local capacity is rubbish at the moment. Please try and tell people the truth and stop the propaganda.

Yes, reduced imports contributed to the trade surplus, but this has also forced the manufacturer s to look for local alternatives to their raw materials, this push towards domestic production is necessary for long-term growth. I play in this sector,trust me. While manufacturing faces current challenges, and inflation is concerning, the ongoing reforms are attracting significant investment. The short-term pain is part of a needed economic restructuring. What matters is how we manage this transition. No be everything be propaganda.
Nigeria will thrive in my lifetime.

10thTenthMan:


Lol,

I fear that the Nigerian predatory system will wreck, tax, extort and kill these soon. One person in government will soon devise a means to extort the opportunities and drive it to the ground.

Especially, if the business is set up by the common man that is not connected to Alausa or Aso Rock.

But if we can have sense and make the best of the opportunity, Nigeria will do wonders. Detty Dec., will hopefully compete with Ibiza and Tomorrowland.

A country where it’s own currency is scarce for its own people every December…

Some of these fests are sponsored by the state government.
Daddy, Governor Sanwo loves partying.

Justdare:


Yes, reduced imports contributed to the trade surplus, but this has also forced the manufacturer s to look for local alternatives to their raw materials, this push towards domestic production is necessary for long-term growth. I play in this sector,trust me. While manufacturing faces current challenges, and inflation is concerning, the ongoing reforms are attracting significant investment. The short-term pain is part of a needed economic restructuring. What matters is how we manage this transition. No be everything be propaganda.
Nigeria will thrive in my lifetime.

Oga stop these lies. The same MAN is complaining that Manufacturing index has fallen and many factories have closed in the past year. The investment we are attracting is hot money in of financial instruments and these funds do not stay. The FDI needed to drive growth has declined sharply. You guys should tell Nigerians the truth and stop lying.

OkCornel:
Makes sense.

Can Calabar carnival be replicated in Lagos or Ogun every quarter of the year? E go make sense

No need for that if we compete the Lagos Calabar coastal highway. Foreigners would be thrilled to travel from Lagos to Calabar in 5 hours.

Very good writeup there.
This have always been in my mind and I wonder what government agencies and businesses that have union always do with their brain.

In each state, they all have a commissioner in charge of tourism. At the Federal level, there is a Minister for Tourism.
Can't all the state commissioners, together with the Minister have a summit, discuss, present papers and ideas, come to an agreement and have a policy document that should adopted by all the states for implementation. I guess NO.
They won't do it, especially those leaches from the North who depend on free oil money shared every month.

We wont have sense and do the needful except this oil is dried up so that everybody can rest, sit back and reason for a way to generate money for their states.

The Calabar annual festival died after Donald Duke, the Port Harcourt Christmas road shows with DJs at every road junction blasting, died after Amaechi because Wike brought in his hate of Amaechi and discontinued some that made the state a tourist destination.

Except the oil dried up, if not, no sense.

jazzman7711:


YOU WILL REMAIN FOREVER POOR WITH THIS ATTITUDE.

TELL ME HOW ANYBODY CAN SIMULTANEOUSLY DECRY POVERTY IN NIGERIA, AND THEN LAMBAST AND ATTACK THE IDEA OF MILLIONS OF TOURISTS FLOODING INTO THE COUNTRY?

THE DREAM OF EVERY SINGLE NATION ON THE FACE OF THE EARTH?

A GUARANTOR OF MILLIONS OF JOBS?

EITHER YOU ARE EXTREMELY STUPID WITH A VERY LOW IQ, OR YOU ARE A HATEFUL SABOTEUR AND LOSER WHO WANTS NOTHING GOOD FOR THIS COUNTRY BECAUSE YOUR OWN LIFE IS WORTHLESS.

First of all, typing in CAPS and BOLD is amateurish....Grow up! Next, pray you manage to have a career that I've had so far, na poverty dey cloud your judgment nothing else!

Honestly most of you keyboard warriors just type jargon online without any critical thinking, are most of these people tourists or Nigerians visiting home? It never dawned on you that some of these people might want to invest in Nigeria? Who would want to invest knowing their investments loses as much as 50 to 70% of its value within 2 years? I've built houses in 9ja, started two businesses, invested in stocks and so on, I've done my part, what have you done?

Finally, stop spewing crap and educate yourself, compare my response to your comment, if you reflect deeply and honestly, you would confirm that you're the one living the worthless life defending the indefensible......Shalom!

Imagine... trying to justify incompetence...

I keep asking, if a ridiculously high exchange rate of N1700:$1 is seen as good, why did the apc and bat condemn N217:$1 as being too high in 2014?

Until the apc and bat can properly explain kicking against the fx rate of 2014, thier efforts to justify the present rates cannot hold water.

Wicked people everywhere.

Lol....now you have confirmed yourself to be a complete dunce, a stark illiterate in economic matters.

I wish you had kept quiet. In the words of Abraham Lincoln......." it is better to be quiet and be thought as unknowledgeable than to speak and remove all doubts that you are truly and idiot"

Since you removed all doubts that you are an illiterate, let me try and help you.....

Trade surplus is when you import less than your export. Did you know that could also happen if there is paucity of forex to import critical and essential machinery and required spare parts to help grow your economy?

The question you should have asked yourself before coming here to disgrace your name is what led to Nigeria's recent trade surplus. According to WTO report in Oct 2024, Nigeria's trade surplus of $1.0bn was as a result of the 20% cumulative decrease in imports attributed to (1).Naira Depreciation, (2) Huge decline in non oil imports, and (3.) FX liquidity bottlenecks (Source: WTO African View report, Oct. 2024).....

Only a buffon will term a trade surplus stemming out of FX liquidity bottlenecks and currency depreciation as an achievement. Those are temporary and cyclical reasons that would be wiped off soon when the pressure in the economy reaches its boiling point. They were not due to any improved earnings of forex or attraction of FDIs. No serious nation celebrates such

It could only be an illiterate that would assume that a temporary trade surplus automatically translates to improved economy and welfare of the people. If that were true, US(been in trade deficits for decades), UK(consistently reports trade deficits), Japan,,Mexico,Canada, Ireland, Taiwan, etc, have been reporting trade deficits for many years and yet they are considered as advanced and progressive economies. You know why? They realised that growing their economies with trade deficits is better than starving it of the necessary importation of critical infrastructure and capital needed to boost their economies in the name of trade surplus. Hence they are more focused on growing their National income and GDP per capita. Those are more accurate parameters for judging the improvement in their economies and welfare of their people(Google for more knowledge sir).

Nobody cares so much about trade surplus in the world as compared to GDP growth and GDP per capita. Even China, with the most trade surplus, is spreading it as loans to other countries in the form of aid and development(tied to those aids is that chinese companirs will be responsibke for construction and maintenence thereby boosting their GDP rather than pile more trade surplus) becuase it is useless if the economy does not grow while they accumulate trade surplus. Same for the increase in foreing reserves(China loans it to the US mostly since it is useless unless they need it to prop up their currency)

Do you want to tell us about Nigeria's GDP in the last two years(dropped from 1st in Africa to 4th in less than a year under the certificate forger)?. Kenya and Ethiopia are projected by IMF to be ahead of Nigeria in GDP before end of 2026,meaning Nigerians will become poorer and more impoverished than Ethiopians and Kenyans(Nigeria GDP is projected to fall to 6th position by then)..

so what are you about? If APC/Tinubu want to waste money on people to defend its abysmal economic performance, it should at least get the intelligent ones, not touts or semi literates like the one below

Justdare:

Nigeria recorded a trade surplus of N5.81tn in the third quarter of 2024. I trust you know what means. As much as you've chosen to see no growth in your country, the fact remains, the country is moving vertically.

Ofodirinwa:



ok, this is how I see it.

You have 50,000 Naira in the bank
one demonic president arrives and drops the currency by 75%
So for no reason of your own or not act of your own doing, your 50,000 naira can not buy you what N12,500 was supposed to buy you when you were saving the 50,000. so now, in reality, you have 12,500. But there are people who do not have the same demonic ape of a president
and because your money is worthless it is easier for them to spend their money in your country.
So they come to Nigeria, and they buy 10 bottles of malt directly from you. In a normal year they would have bought 5.
Did something good just happen?


If I break your left leg and give you a cane you can only use in december, did I just help you? What if someone wrote and article about the advantages of having your leg broken because they noticed that you received a can in December, would this person be normal?

We allow people to get away with a lot because they can use economic grammar. Lets also that some industries benefit from tourism but all people suffer from currency collapse

This one gets sense. You sabi

I go comment for this space later.
Make I go worship God

Detty December has absolutely nothing to do with naira and dollar. Maybe you want to tell me the rise of afrobeats is as a result of the naira as well.

I live in Europe. Suddenly, Africa and specifically Nigerian culture is becoming more popular and more people wants to have a feel of it. Tik Tok is the most contributing factor. The only reason people are not trooping into Nigeria is the bad reputation of Nigerian police and insecurity. They're scared. Otherwise, you'll see Nigerians and foreigners trooping down to Nigeria

Yeye post and poster,the middle class is the engine of any economy.

Middle class can't afford to buy tokunbo vehicles again and build houses,1700 to 1$ is a devilish rate,even developers dey see shege with cost of construction.


The Nigerian economy is in ICU abi na life

How will Lagos not be full of diaspora, when they cannot travel to their villages because of a very high level of kidnapping/insecurity.

malali:


Source: Malali

Nigeria belongs to everybody including rural dwellers that have never stepped into Lagos, Abuja or any of the cities where Detty December is expected.

malali:


Source: Malali

Given as this is noble enough, the Nigerian State must tackle Insecurity large scale first before exploring on the laudable opportunity you mentioned.

10thTenthMan:


“…that benefit from….”, please.

The hotels and resorts and clubs that make significant benefits and feel the real positive impacts are. They are connected one way or another to the seat of power in some way. Either through friendships, bribes, other form of networking.

Yes. Your currency has been scare mostly every December /towards the end of the year since 3-4 years ago, especially after the new naira notes saga. Even the dead are in a place but are not conscious of the things around them. Zombies too. The uneducated and unenlightened may also be too stupid to notice or to daft to comprehend. So for those who do not notice, it could be due to many factors.

And to those that feel they need to willfully deny facts because “THEY WANT TO BE PATRIOTIC”, it is a fact that Nigeria is a wonderful place. An enjoyable place. But has its undeniable issues and challenges like everywhere else that require progressive acknowledgement of the issues and fixing these.

Yes o, I must write even when I don’t have anything to write because I CHOOSE TO. Nothing anyone can do about it. If anyone thinks that he/she can do anything beyond online insults then I quadruple dare anyone to the beginning of their ancestors to try to do something. It will and can only end in online insults and name calling. Nothing more. This is my own contribution to the matter.

"...has been scarce mostly..." Thank you.
"...too daft to comprehend..." Thank you.
Use three dots for ellipsis when writing an incomplete statement.

Lesson: when trying to correct English Language, make sure you are flawless, but you are terribly flawed, even your punctuation is pathetic.

Back to the issue, seems the dead are more aware of their environment than you are, the unintelligent and unenlightened actually seem to understand the environment more than you do, creating lies that are non existent about cash being scarce every December, change of naira note occured last year 2023 and December last year didn't experience scarcity of cash.
I see you are not even aware of your environment that's why you don't have the slightest idea that old notes projected to be phased out this year all these while is being withdrawn from circulation and to make that possible, cash were not released to make those keeping stash of cash of bring out so it can find it's way to the bank.
I'm sure you are alive, intelligent and informed that you don't even know about this.
The only thing you lots are good at is talk without thinking.
First and foremost, nobody actually cares about a IowIife like u, that part is established, maybe you should double dare ur ancestors to give you a better life so u can be sensible at least, that's for starters, do I actually have to remind you that not all name calling ends online?
So many are in the police net languishing because of it, just an advice Incase you leave a faceless forum like Nairaland to go and call names thinking it will end online, because it only end online on Nairaland, when it spills offline, your ancestors don't have what it takes to defend you.
Just a piece of advice.
If you are so intelligent and informed, you should have known that already.

OkCornel:
Makes sense.

Can Calabar carnival be replicated in Lagos or Ogun every quarter of the year? E go make sense

Spits.


The beauty of the Calabar carnival is the pulchritudinous nature of their women: something you don't have in southwest. Yoruba ladies don't have the sleeky body that can match beautiful cultural costumes. Having them in such an event will amount to environmental eyesore.

Ofodirinwa:



ok, this is how I see it.

You have 50,000 Naira in the bank
one demonic president arrives and drops the currency by 75%
So for no reason of your own or not act of your own doing, your 50,000 naira can not buy you what N12,500 was supposed to buy you when you were saving the 50,000. so now, in reality, you have 12,500. But there are people who do not have the same demonic ape of a president
and because your money is worthless it is easier for them to spend their money in your country.
So they come to Nigeria, and they buy 10 bottles of malt directly from you. In a normal year they would have bought 5.
Did something good just happen?


If I break your left leg and give you a cane you can only use in december, did I just help you? What if someone wrote and article about the advantages of having your leg broken because they noticed that you received a can in December, would this person be normal?

We allow people to get away with a lot because they can use economic grammar. Lets also that some industries benefit from tourism but all people suffer from currency collapse

I'm sorry but are you a retard? You simply just typed garbage. How old are you?

Blazetrailer:
Lol....look at the person asking someone to read.

China can get away with almost anything now, it is
the production hub of the world.

You produce nothing but want to apply the chinese devaluation tactics? You will hawk your country on TEMU for free...mumu dem!!

Plus there's is minimal Broad daylight corruption there unlike here where the executhieves will brazenly order CBN to open the nation's vault (treasury) and start to furiously eat our yams.

So China can afford to get away with it. But trying same in Nigeria is economic suicide, as in the economy will be buried

See now the few existing multinationals organizations/reputable companies divesting and jumping from the sinking ship to other viable, stable viable African countries economies.

Sometimes some of us give analysis that baffles me,
1. Is it that we Don not understand that prices increased by more than 300%.
2. That the ways of workers have not really increased to meet the changes despite several promises.
3.The Lagos I know has always been packed full every December and this year is not really special.
4. The so called businesses impacted are not run by the common man and the salaries paid to the common man serving in these clubs and hotels have not really changed.
5. The IJGB are also not fools as they change these currencies in the black market and not the formal market where the currencies will have real impact.
6. Are also aware that lots of them bring in commodores for sale which is what they use in financing the so called flex further milking the local ones.

So please lets stop giving analysis of phantom gains that are really non existent. We need to think things through and include all the angle and not follow the bandwagon.

Blazetrailer:
Lol....now you have confirmed yourself to be a complete dunce, a stark illiterate in economic matters.

I wish you had kept quiet. In the words of Abraham Lincoln......." it is better to be quiet and be thought as unknowledgeable than to speak and remove all doubts that you are truly and idiot"

Since you removed all doubts that you are an illiterate, let me try and help you.....

Trade surplus is when you import less than your export. Did you know that could also happen if there is paucity of forex to import critical and essential machinery and required spare parts to help griw your economy?

The question you should have asked yourself before coming here to disgrace yourself is to ask what led to Nigeria's recent trade surplus. According to WTO report in Oct 2024, Nigeria's trade surplus of $1.0bn was as a result of the 20% cumulative decrease in imports attributed to (1).Naira Depreciation, (2) Huge decline in non oil imports, and (3.) FX liquidity bottlenecks (Source: WTO African View report, Oct. 2024).....

Only a buffon will term a trade surplus stemming out of FX liquidity bottlenecks and currency depreciation as an achievement. Those are temporary and cyclical reasons that would be wiped off soon when the pressure in the economy reaches its boiling point. They were not sue to any improved esrnings if forex or attraction of FDIs. No serious nation celebrates such

It could only be an illiterate that would assume that a temporsry trade surplus automatically translates to improved economy and welfare of the people. If that were true, US(been in trade deficits for decades), UK(consistently reports trade deficits), Japan,,Mexico,Canada, Ireland, Taiwan, etc, have been reporting trade deficits for many years and they are considered as advanced and progeessive economies. You know why? They realised that growing their economies with deficits is better than starving it of the necessary importation of critical infrastructure and capital needed to boost their economies. Hence they are more focused on growing their National income and GDP per capita. Those are more accurate parameters for judging the improvement in their economies and welfare of their people(Google for more knowledge sir).

Nobody cares so much about trade surplus in the world as compared to GDP growth and GDP per capita. Even China, with the most trade surplus, is spreading it as loans to other countries in the form of aid and development, becuase it is useless if the economy does not grow whike they accumulate trade surplus. Same for the increase in foreing reserves(China loans it to the US mostly since it is useless unless they need it to prop up their currency)

Do you want to tell us about Nigeria's GDP in the last two years(dropped from 1st in Africa to 4th in less than a year under the certificate forger)?. Kenya and Ethiopia are projected by IMF to be ahead of Nigeria in GDP before end of 2026,meaning Nigerians will become poorer and more impoverished than Ethiopians and Kenyans(Nigeria GDP is projected to fall to 6th position by then)..

so what are you about? If APC/Tinubu want to waste money on people to defend its abysmal q economic performance, it should at least get the intelligent ones, not touts or semi literates like the one below

For someone quoting Abraham Lincoln about silence and wisdom, you seem quite eager to showcase your own misunderstandings. The irony is delicious.

First, I never said trade surplus automatically equals economic prosperity - that's your interpretation. What's truly amusing is how you've written an essay mansplaining basic economics while missing the point entirely about structural reforms and transition periods.

Since you enjoy citing reports, perhaps you've also read about Ethiopia and Kenya's own economic challenges? Or does your expertise only extend to copying and pasting selective statistics? It's fascinating how you can simultaneously lecture about GDP metrics while ignoring the complexities of economic transition in developing economies.

The real 'buffoonery' (since we're using such ) is reducing complex economic policy to partisan attacks. But hey, at least I can spell 'temporary' and 'buffoon' correctly in my economic analyses. 😉

zuchyblink:
Detty December no be for civil servants. It is for those earning in hard currency. Nigeria is not for people living in Nigeria

So, we wey dey live for naija nko?

I always wonder what makes you people believe naija civil servant no dey chop life. Nah dem dey chop life … Make I no just talk much cuz most of them are married men!

Beautiful.

Take the Caribbean, for example. The Dominican Republic made $10 billion last year from tourism alone—no oil, no natural gas, just sun, sand, and hospitality. Tourism contributed over 12% of their GDP, showing that a country can literally live off its ability to host, entertain, and delight visitors.

The Dominican Republic is the sex capital of the Caribbean; everything is for sale, including sex with children. Nigeria needs to be careful about how they manage the tourist industry. $10 billion is not worth the destruction of the social fabric of a country. Industrialisation is the best way forward

PulaPower:
With only $200, you go ball taya..

Like they do say, sometimes, every disappointment is a blessing. I was watching TikTok the other day wey Ghana people dey complain say people are ignoring Accra this December period for Lagos which is true..

Naija really extra full this December o..

The way balling full everywhere henn😂😂😂