Why Is Nigeria So Rich? The Richest Country In Africa.

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  • čas přidán 24. 02. 2022
  • Why is Nigeria So Rich? The Economy Of Nigeria Explained
    Nigeria is Africa’s most populated and wealthiest nation. The West African giant has a population of over 200 million inhabitants and with a nominal GDP of 514.076 billion dollars, the Nigerians are well and truly the big boys on the continent. But not long ago the country was barely a shadow of its present greatness. Back then, it was South Africa making all the moves on the continent and its industrial and infrastructural feats were unmatched by no one single African country.
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    For any copyright, matters contact us at thenewtourist@gmail.com
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    #nigeria #africa #whyisnigeriasorich
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Komentáře • 425

  • @TheNewTourist
    @TheNewTourist  Před 2 lety +28

    If you love this video leave us a like. If you think we left out something please help us in the comment section...We will do well to update the content.

    • @davidscott3726
      @davidscott3726 Před 2 lety

      Nigeria is still not the typical rich country,it has too much Poverty

    • @davidscott3726
      @davidscott3726 Před 2 lety

      You exaggerated this... Nigeria is a Rich poor country.

  • @xmediabox
    @xmediabox Před 2 lety +94

    Nigeria we love you .greating from Ethiopia

  • @gamrpresident
    @gamrpresident Před 2 lety +76

    Nigeria is thriving in Agriculture ,Technology , Entertainment as well. Oil is really not the future we see.

  • @DANIEL-fp2uq
    @DANIEL-fp2uq Před 2 lety +85

    What interests me most is Nigeria's recent boom in tech and manufacturing. Also, I hope they come down to Botswana to open an Innoson car dealership. I want one in the future.

    • @efemzyekun900
      @efemzyekun900 Před 2 lety +6

      I'm certain that they will get to you your country soon.

    • @discovertech1250
      @discovertech1250 Před 2 lety +2

      Yes , recent boom and current death

    • @funnyfun7040
      @funnyfun7040 Před 2 lety +2

      Botswana 🤜🏾🤛🏾

    • @DANIEL-fp2uq
      @DANIEL-fp2uq Před 2 lety +5

      @@discovertech1250 Country building isn't a smooth ride friend. My country was once the poorest on the planet.

    • @MrJahchap
      @MrJahchap Před 2 lety

      @@DANIEL-fp2uq I like your kind of vision. How do we get in touch?

  • @kofiamoakosiawkasmow8889
    @kofiamoakosiawkasmow8889 Před 2 lety +46

    Nigeria might become Africa’s first Developed Country! I’m 🇬🇭 Ghanaian and I’m glad to see Nigeria 🇳🇬 flourish

    • @aduduodudu7969
      @aduduodudu7969 Před 2 lety +1

      Try Rwanda 🇷🇼

    • @donaldekpo1817
      @donaldekpo1817 Před 2 lety +2

      There are at least 2 or 3 states in Nigeria that are quite clean and more developed than Rwanda... People only know Lagos State and Abuja out of the 36 states and FCT... look closer..

    • @kholekileswartz7159
      @kholekileswartz7159 Před 2 lety +2

      That title already of the most developed country in Africa has been taken by South Africa centuries ago. South Africa is the most developed country in Africa and no other country in Africa can match South Africa's development, its infrastructure, manufacturing capacity and export capability. Nigeria might become the first developed country in West Africa though.

    • @olebogengnkhahle4185
      @olebogengnkhahle4185 Před 2 lety +2

      😂🤣In your dreams, SA is up there's actually some parts of SA have character of a developed country and some parts are undeveloped. Nigeria is all undeveloped overpopulated farm

    • @kholekileswartz7159
      @kholekileswartz7159 Před 2 lety

      South Africa is considered a Developed Country. Earlier on 10 February 2020, the United States announced changes to the way in which it would conduct aspects of its trade remedy investigations, including that South Africa (and others) would now be classified as developed countries for such purposes. These changes were notified through the Federal Register.
      Specifically, the US updated some of the relevant criteria and thresholds that would trigger remedial action on its part, and in particular also the conditions that could exempt countries’ exports under certain circumstances. In the process, the US updated the rules and criteria it uses for designating a country as a developed country (developed countries face stricter conditions in some trade remedy / import injury investigations); this resulted in over twenty countries - including South Africa - no longer being considered developing countries (and from now, developed) for purposes of US trade remedies legislation and specifically, countervailing duty investigations or ‘CVDs’.
      In the aftermath of these developments, various local media headlines and associated articles went as far as proclaiming that South Africa had now effectively lost its access to the US market as a result of these developments, with serious repercussions. In reality, the situation is quite different. There are essentially two separate - and fundamentally unrelated - recent developments that appear to have been conflated. While the common theme indeed involves South Africa-US trade, the one relates to non-reciprocal trade preferences (the GSP eligibility / copyright legislation review), and the other to an aspect of trade remedies. This article unpacks some of these latest developments relating to the latter, and establishes to what extent the recent changes to US trade remedy laws are likely to impact South Africa.

  • @chnick1908
    @chnick1908 Před 2 lety +42

    God bless Nigeria 🇳🇬

  • @africanandproud6792
    @africanandproud6792 Před 2 lety +13

    Well done to our Naija brothers..May God bless that great country. . From a South African.🙏🏾

  • @ARUchannel1
    @ARUchannel1 Před rokem +8

    So nice to see Africa getting richer

  • @emmanueljoseph5443
    @emmanueljoseph5443 Před 2 lety +50

    Nigeria's GDP, I can assure is more than 514.076 billion if the statistics is correctly taken. There are many economic data that are really not taken into consideration most of the time. Most importantly our statistic bureau in Nigeria is not really working the way it should.

  • @mayorcooolest6108
    @mayorcooolest6108 Před 2 lety +15

    Nigeria is the richest country in Africa yes no doubts but we need to fix our leadership then we move!

  • @freshoilonyou
    @freshoilonyou Před 2 lety +45

    You didn't talk about the huge successful Nigerian diaspora and the revenue they bring back to the system.

    • @TheNewTourist
      @TheNewTourist  Před 2 lety +15

      That’s true…we are making a whole video on that..hope you are subscribed so you won’t miss it.

    • @blackcoraltv6787
      @blackcoraltv6787 Před 2 lety

      True. About $30bn from the US alone

    • @sidex4
      @sidex4 Před 2 lety +3

      Remittances....you're right

    • @joyisaac223
      @joyisaac223 Před 2 lety +1

      @@blackcoraltv6787 Actually $41 Billion

  • @languageEnthusiast_sjm
    @languageEnthusiast_sjm Před 2 lety +11

    Advice I can give to Nigerians as a South African is choose the right government at the polls. Corruption has reduced SA from the once growing/flourishing country to what it is. Don't vote on racial lines, linguistic lines, or on loyalty. Vote for a competent and qualified candidate for the job

  • @NickFinanceNaija
    @NickFinanceNaija Před 2 lety +3

    Greetings my Naija people! Gather here for selfie 🤳

  • @oluwadamilola6233
    @oluwadamilola6233 Před 2 lety +5

    Nigeria 5th in Agriculture, Nigeria has a bright future

  • @simplyballing1592
    @simplyballing1592 Před 2 lety +8

    Excellent video. Very informative. I have no choice but to subscribe

  • @antnam4406
    @antnam4406 Před 2 lety +10

    Nigeria the giant of Africa!

  • @hunchou5240
    @hunchou5240 Před 2 lety +7

    I just subscribed love from Ibeno island in Akwa ibom , south Nigeria

  • @ogungbiyerotimi3058
    @ogungbiyerotimi3058 Před 2 lety +16

    Oil is just around 10%of Nigeria's GDP. Nigeria is also the 5th largest Agricultural produce country in the world. If in doubt, google it to confirm.

  • @caesarsavage8894
    @caesarsavage8894 Před 2 lety +1

    Good one

  • @muhammadmaimaje6178
    @muhammadmaimaje6178 Před 2 lety +2

    Love the video and content but transitions can be improved

  • @augustineiya-nya2899
    @augustineiya-nya2899 Před 2 lety +18

    Integrity is the word for a successful and sustainable venture by people with an integrity mindset.

  • @fawzybabygh6436
    @fawzybabygh6436 Před 2 lety +5

    God job love from Ghana💖💖🙏

  • @antnam4406
    @antnam4406 Před 2 lety +4

    Nigeria has always been the giant of Africa, South Africa can never claim it.

    • @lozi4163
      @lozi4163 Před 2 lety +6

      When did South Africa claim such funny titles? And is funny how you bringing us in this it seems like deep inside you know which country is leading Africa 🤣

    • @sellomabina3939
      @sellomabina3939 Před 2 lety +7

      lol ,boko harram , fulani herds man , sars , and naira ,lmao some giant

    • @susankariuki449
      @susankariuki449 Před 2 lety +1

      Lies It's south Africa

  • @soyabraham5364
    @soyabraham5364 Před 2 lety +3

    I just subscribed

  • @iszyhamzat7229
    @iszyhamzat7229 Před 2 lety +7

    God bless Federal Republic of 🇳🇬 🇳🇬 🇳🇬 🇳🇬 🇳🇬

  • @Hw92bd93bwodn
    @Hw92bd93bwodn Před rokem +2

    The fact that Nigeria is richer than my country Trinidad and tobago🇹🇹😮. How impressive!

    • @theophilusladapo5987
      @theophilusladapo5987 Před rokem

      Most Trinidadians are of Nigerian descent especially the black people of Trinidad.

  • @abukamara2015
    @abukamara2015 Před 2 lety +3

    Nigeria experience one of the highest Remittances on the continent, why is this never taken into consideration? Nigeria is actually doing well economically belive it or not! Do you see the big houses These guys built! Nigeria have enough billionaires that are propelling the country in the right direction! Eager young and dynamic population that wants to learn about pretty much everything including engineering, technology, fin-tech etc. Nigeria will surely be a great nation in the years to come! I'm from Liberia🇱🇷 , but we are one Africa 🌍, I love Nigerians 🇳🇬, I love my African brothers and sisters!

  • @godwinigiri8558
    @godwinigiri8558 Před 2 lety +32

    Nigeria is already a Trillion dollar economy. 1 Naira was worth about $2 (i.e. 190 cents) only 15 years ago, today it's worth 3cents. If this can be raised to 5cents then the GDP will be in the Trillions.

    • @sonofnok2153
      @sonofnok2153 Před 2 lety +3

      Trillion dollar for whom? For Nigerians? I don't see that in the faces of the population on the ground, or in those being sold on auction block in Lybia, or being trafficked for sexual slavery around the world, or being killed in Europe, UAE, S.ARABIA, OMAN, or INDIA and their organs harvested for organ transplant into wealthy Westerners.
      NIGERIANS like to live in delusions!

    • @The_Harylaba
      @The_Harylaba Před 2 lety

      🤣🤣🤣🤣big lie

    • @orukpe1
      @orukpe1 Před 2 lety +6

      @@sonofnok2153 GDP(Gross Domestic Product) refers to econmic output and input of a country for a given year. it might not reflect directly on the standard of living of individual, but it shows if the country is moving forward or not. No doubt in terms purchasing power parity(ppp) nigerian economy is actually $1.116 trillion (PPP, 2021 est.), while normina $514.076 billion (nominal, 2021 est.).

    • @sonofnok2153
      @sonofnok2153 Před 2 lety

      After all your grammar, I just want to your GDP on the oft miserabke looking faces of your people.

    • @Isiejeme0829
      @Isiejeme0829 Před 2 lety +1

      @@sonofnok2153 hug transformer, we move still. Sad Ghanaian.

  • @osarobomike
    @osarobomike Před 2 lety +7

    Why ñigeria is rich first oil and gas coming up from niger delta second population wide third people are God bless with wisdom may God almighty containue to bless ñigeria and Africa generally amen

  • @noroshut1082
    @noroshut1082 Před 2 lety +4

    Love the documentary. Its actually Dan-go-te. Otherwise, very good video.

  • @blackcoraltv6787
    @blackcoraltv6787 Před 2 lety +10

    You just murdered Alhaji Dangote's name. 😁The 'e' at the end is pronounced too Dan gote as in 'tey'

  • @lincolnzowonu4922
    @lincolnzowonu4922 Před 2 lety +1

    Make a video about Togo too🇹🇬

  • @jenniferwilliams8458
    @jenniferwilliams8458 Před 2 lety +1

    God Bless my Country .that's all i can say

  • @iworhjoy3830
    @iworhjoy3830 Před 2 lety +4

    10:35
    One of the reasons why Nigeria is suffering.
    Imagine that amount was stored in swiss bank for one person.

  • @mikeike3144
    @mikeike3144 Před 2 lety +4

    It is not how rich Nigeria is that matters to us. Its how much of that wealth filters down the economy into good roads security and electricity for all. It is how strong the naira is. All these depend on freeing the economy of corrupt leaders.

  • @mauriceldisgreecanadahaspr9560

    its about time even making there own cars its about time africa keep pushing forward

  • @gamrpresident
    @gamrpresident Před 2 lety +20

    It’s pronounced Dang Ote or Dan Gotay (Dangote) not Dangot , thanks for the detailed analysis. Our prayers, conversation, focus is to get a leadership that can move us beyond this, because we know we can. Well done

    • @Danorous
      @Danorous Před 2 lety +1

      Forget how he pronounced his name. He is not from your hometown

    • @gamrpresident
      @gamrpresident Před 2 lety +2

      @@Danorous Perhaps you did not read my comment very, we’re all learning and knowing how to pronounce Nigerian names is not a bad thing as he’s covering Nigeria on CZcams

    • @freemanbako452
      @freemanbako452 Před 2 lety +2

      @@Danorous For it is written"he who hates correction is stupid "

    • @freemanbako452
      @freemanbako452 Před 2 lety

      @@Danorous And if you ever raise a tongue or finger against me, I shall curse you...that's my humble submission and I come in PEACE!!!

  • @sundayisibor3797
    @sundayisibor3797 Před 2 lety +9

    Information technology is a curse, people can tell your story from beginning to the end without stepping foot on your country.
    Thanks bro for more information and energy.

  • @benbekoe181
    @benbekoe181 Před 2 lety +28

    Nigeria should open the border lines with all ECOWAS countries. Then ECOWAS currency as soon as possible. ECOWAS can feed the World when its comes together Agriculture if we listen to our selifes.

    • @gamrpresident
      @gamrpresident Před 2 lety +4

      I have said that a million times but the ecowas are not in corporation especially the francophone, using French currency

    • @Biobele
      @Biobele Před 2 lety +11

      French west Africa does not want a single west African currency, France told them not to accept any currency that will see France stop printing their currencies don't forget France installs puppets in those countries and also prints their currencies for them

    • @soyabraham5364
      @soyabraham5364 Před 2 lety +6

      I guess is a Ghanaian saying this

    • @ogungbiyerotimi3058
      @ogungbiyerotimi3058 Před 2 lety +1

      ECOWAS member countries do not have common economic policies which makes further economic cooperation difficult.

    • @affordablepty7039
      @affordablepty7039 Před 2 lety +1

      Africa leaders are too weak. They don't have balls to take decision that will positively affect everyone. They're self centered... If the French speaking west Africa countries aren't interested in a single currency, let the anglophone countries do it

  • @judeokolie1609
    @judeokolie1609 Před 2 lety +9

    Very positive spin for viewers from a distance. I am impressed and depressed at the same time hearing that we are the richest country in Africa? That means Africa is still in the gutter because yes, some individuals have made it, but the vast majority is still stuck in a $2-a-day subsistence. We are still dealing with the f+++ng basics = water, power, roads, courts, security, medicals, academia and food!

    • @kenziestv6934
      @kenziestv6934 Před 2 lety +1

      There is wealth but very poor distribution. Only the rich keep getting richer

    • @aduduodudu7969
      @aduduodudu7969 Před 2 lety

      Bless you 🙏

    • @olebogengnkhahle4185
      @olebogengnkhahle4185 Před 2 lety

      Richest in Africa🔥🔥. Nigeria need to move away from dependency on oil. SA is moving to renewable energy and will buy less oil which will impact exports...🤝🏾

    • @shangothunder1055
      @shangothunder1055 Před 2 lety

      @@kenziestv6934 false The Nigerian middle class is booming.

    • @shangothunder1055
      @shangothunder1055 Před 2 lety

      @@olebogengnkhahle4185 false but can keep dreaming

  • @raphraph3545
    @raphraph3545 Před 2 lety +14

    Good account of Nigeria. Just that your GDP (PPP) numbers are dated. Recent estimates from IMF and CIA world Factbook already put Nigeria's GDP (PPP) at over $1trillion which makes it second to Egypt on Africa who's GDP(PPP) is over $1.3t
    Dangote's refinery when eventually operational will help Nigeria grow its national reserve faster and could lead to appreciation of the naira as the country becomes a net exporter of not just crude but refined crude as well. The current deployment of modern rail lines across the country (beginning with the Lagos Kano rail) will also help with industrialisation and job creation as well.
    What the government needs to do now is see how it can increase revenue to GDP ratio for the GDP size to become more apparent in physical infrastructure and quality of life indices

  • @heaven33957
    @heaven33957 Před 7 měsíci

    Nigeria is so rich they don't need anything from anyone! Ppl always treat Africans horrible while they are rich ppl in their own countries and if the tables were turned then you'd have much more respect and less ignorance!

  • @theophilusladapo5987
    @theophilusladapo5987 Před rokem +1

    Nigeria is the richest and most blessed country in Africa.

    • @theophilusladapo5987
      @theophilusladapo5987 Před rokem

      Most Nigerians however have not benefitted from the wealth because only the political class and the business elite have cornered the vast national wealth.

    • @Karinay74480
      @Karinay74480 Před měsícem

      It’s not rich

    • @Karinay74480
      @Karinay74480 Před měsícem

      Wdym by blessed?😭 you guys have problems frr, what’s Nigerian religion? It isn’t Christianity for sure

  • @angelicakweku5293
    @angelicakweku5293 Před 2 lety +11

    Nigeria has seen better days,trust me!!!
    In the 1970s, their local currency was worth more than the dollar. 2 to one to the pounds!!!
    Things are really hard in Nigeria now, mostly due to bad leadership...initially uneducated and inexperienced military rulers forced on the citizens, who then became civilian rulers!!!
    There are external forces, meddling to ensure that Nigerian does not get to its potentials!!!!
    Nigeria is really struggling NOW,

    • @freemanbako452
      @freemanbako452 Před 2 lety +1

      Dear Father in Heaven, vindicate us as a Nation. Take us to where you've destined us to be as you give us a change of heart,peace,justice love and equity. Help us to liberate the whole of Mankind as we achieve our purposes...forgive us of all our sins and heal our land in Jesus name.Amen!!!

    • @Isiejeme0829
      @Isiejeme0829 Před 2 lety +2

      @Angelica Kweku, face your country, leave Nigeria to it's own.

    • @angelicakweku5293
      @angelicakweku5293 Před 2 lety +1

      @@Isiejeme0829Grow up!!! This is 2022. People don't love in hamlets anymore.

    • @Isiejeme0829
      @Isiejeme0829 Před 2 lety +1

      @@angelicakweku5293 face your small, heavily indebted country that can be likened to a hamlet, leave Nigeria alone. You Ghanaians are not to be trusted anymore since your people have shown Nigerians their true colours. So you grow up.

    • @kenziestv6934
      @kenziestv6934 Před 2 lety

      @@Isiejeme0829 what did the guy say? He deleted his comment

  • @alibomaye5560
    @alibomaye5560 Před 2 lety +4

    Its not the wealthiest but with the biggest economy since 2013 or so

  • @thaboturner1280
    @thaboturner1280 Před 2 lety +1

    If nigeria was rich Americans would come n stay there but im sure after 10 years nigeria would do well

  • @DannyYatom0909
    @DannyYatom0909 Před 2 lety +27

    Nigeria could become a major economic power provided it controls the radical Boko Haram extremists with an iron hand. Such strong arm initiative to deal with criminals could enhance the faith of national and foreign investors upon the National Government and help in the enhancement of investments in all important industrial sectors of the country.

    • @Biobele
      @Biobele Před 2 lety +9

      Boko haram has nothing to do with Lagos Nigeria where most of the development is taking place or anywhere in the southern part of Nigeria for that matter. Look at a map of Nigeria and see how far Maiduguri is from anything or anywhere economically significant to Nigeria. Just do it.

    • @soyabraham5364
      @soyabraham5364 Před 2 lety +1

      I am a Nigerian. You are right

    • @mikebabz9755
      @mikebabz9755 Před 2 lety +1

      @@Biobele Well, prospective investors don't study maps. They hear Nigeria, they think Boko and they run

    • @achaernest4025
      @achaernest4025 Před 2 lety +1

      Boko Haram is decimated, ISWAP and Bandits is what they should be scared of. However, ISWAP is limited to only the Lake Chad region and they don't have the power to carry out large scale attack like before.

  • @houyamammar1878
    @houyamammar1878 Před 2 lety +3

    Proudly richest country
    Wey will still dey suffer
    Smh😭

  • @nseabasiaquaowo4518
    @nseabasiaquaowo4518 Před 2 lety +2

    Yes, it is like a very rich Federal Government, as the masses of the people, are so poor, unorganised and very impoverished.

  • @kazikazini1042
    @kazikazini1042 Před 2 lety +10

    Just listen to Dangote introducing himself and you'll get the pronunciation right

  • @hungkhuc6586
    @hungkhuc6586 Před rokem +1

    Richer than many Europe countries

    • @rogar0x785
      @rogar0x785 Před rokem +2

      They have higher gdp per capita

  • @eastafricanforever3457
    @eastafricanforever3457 Před 2 lety +12

    Rich Nigeria, poor Nigerians

    • @deonortega9046
      @deonortega9046 Před 2 lety +2

      Same in Kenya Rwanda and Botswana but this countries a progressing. SMEs growing. The people are not as poor as they were

    • @shawbrandon3367
      @shawbrandon3367 Před 2 lety

      What is ur point?

    • @courageyungice2515
      @courageyungice2515 Před 2 lety +10

      The numbers of rich Nigerians is more than the population of your country……. Thanks anyway

    • @michaelfrye2146
      @michaelfrye2146 Před 2 lety +1

      East Africans are the poorest

    • @tilly9169
      @tilly9169 Před 2 lety +2

      Don’t let the media deceive you!

  • @ibrahimshuaibumachika5998

    NGR SHOULD FAST TRACK ECO CURRENCY, REMOVE BOARDER RESTRICTIONS,ENHANCE ITS EDUCATIONAL/AGRICULTURAL/HEALTH/ENERGY INVESTMENT IN ORDER TO ADDRESS ITS FAST GROWING POPULATION NEEDS AS WELL AS ECONOMIC GROWTH.

    • @emeliathompson4920
      @emeliathompson4920 Před 2 lety

      If Nigeria is so rich,how come some Nigerians are in other parts of Africa trying to make a living?

    • @dubemellit2932
      @dubemellit2932 Před 2 lety

      Fulanis looking for boarder less country 😂🤣😅
      West Africa can adopt Eco currency but boarders kept intact ….
      By the way, Nigeria is just thriving on individual efforts…
      It will soon be over , North and South separation …
      Some are working and some are parasites .
      Biafra is my identity , my Home and my Hope.

  • @nelsonchinasamy9857
    @nelsonchinasamy9857 Před 2 lety +16

    With such a huge population and and natural resources their economy should be much bigger than that. Australia with just 25 million people, is more than three times the size of the Nigerian economy. There is a lot of work to be done people.

    • @the_orbit
      @the_orbit Před 2 lety +1

      Which solutions or strategies do you propose?
      What will you or contribute if you’re an average Nigerian individual?

    • @gamrpresident
      @gamrpresident Před 2 lety +1

      Population doesn’t translate to wealth automatically. What about other countries with higher population including Indonesia.

    • @soyabraham5364
      @soyabraham5364 Před 2 lety +3

      We need your help

    • @yesohyes9198
      @yesohyes9198 Před 2 lety +5

      That’s same population with Ghana yet poverty smells there

    • @henrydonald8632
      @henrydonald8632 Před 2 lety

      @@yesohyes9198 lol

  • @thaboturner1280
    @thaboturner1280 Před 2 lety +1

    Nigeria is not rich is still developing guys

  • @ikengaspirit3063
    @ikengaspirit3063 Před 2 lety +2

    Are we taking GDP or Per Capita here.
    If we are talking GDP then it cuz Nigeria is super populated, 1 in 6 Africans in Nigerian and Half of Wes Africa is Nigeria. For an Africa country to have more GDP than Nigeria, they'll have to have like 10 Times the Per Capita.
    As for Per Capita, many African countries have that higher from Ghana to Botswana, tho Nigeria is on the higher side fo Africa, that just means to look at the policies of the African countries that are doing better on this front than Nigeria to see the why.

  • @charlesking7331
    @charlesking7331 Před 2 lety +2

    Nigeria has all these money, but their citizens is dying every minute in the Mediterranean Sea trying to cross over to Europe to escape hunger like other poor African nations, but we never see South African citizens migrating to another country in masses due to poverty. Nigeria GDP is vastly based on diasporas who are hustling like slaves in foreign lands, doing all manner of dirty jobs to make the end meets for the families in Nigeria. All the newly infrastructures built in Nigeria recently was empowered by Chinese fund. Nigeria foreign and local debt is over $120 Billion Dollars. Their population is growing rapidly at about 210 million people. Tens of millions of these populations are homeless living in refugee camps (IDP) for years now due to terrorist daily attacks on their region with no hope of returning to their home in the next 40years to come. Nigeria currency is one of the weakest in the entire world. One US Dollar is over N600 Nigerian Naira currency while some poor nations of Africa have stronger currency than Nigeria. Till today Nigeria has no stable electricity even in their presidential villa they are still using power generator to supply electricity to their presidential lodge in this 21st century. The most lucrative business in Nigeria today is politics, Prosperity ministry Churches, Voodoo temples and ritualists, internet scamming and fraudsters. Nigerian unemployment rate is over 60%, while 80% of the entire population is living below poverty level. Nigeria has no single equitable hospital in the entire country even in their presidential secretariate/lodge. Nigeria government officials and privileged once usually flew abroad for medical attention while the sick poor masses have no community health center to care for them. Nigeria has no good education system, teachers are not getting paid, schools are on strike at all time, school fees are off the roof, school is only for privilege ones. No city in Nigeria has good steady water supply for the inhabitants. They all depends on individual untreated wells and bore holes for water supply. Pensions are not been pay, retired civil servants died in their numbers due to no pension to sustain their living and health issues. Nigerian minimum wage is $50 dollars per month just a peanuts compare to the type of wealth they claimed to have. What is the criteria to measure wealth and riches? Did Nigeria looks like a rich country? the answer is no.

  • @levelingup4915
    @levelingup4915 Před 2 lety +1

    Where does all this money go because their infrastructure is trash.. it is just chaos

  • @israelonyah3842
    @israelonyah3842 Před 2 lety +2

    But it’s a country for the rich only as a Nigerian I can tell u this this current buhari government has killed the country totally it’s right now the poorverty capital of the world

  • @eddiegriffinjones5541
    @eddiegriffinjones5541 Před 2 lety +1

    But Nigeria presently is in a coma. Its the worse place to live especially when you are young. It can kill your dream and destroy your future in ways you will never recover. Its a place every young person should avoid now.

  • @Karinay74480
    @Karinay74480 Před měsícem

    Guys please😭 Nigeria is not rich, have good conditions or be one of the countries with best conditions in Africa don’t means it’s rich. Im 14 and I study economy and Nigeria is not rich, have condition, have a low GDP per capita so is not rich.

  • @tchamola7572
    @tchamola7572 Před 2 lety +11

    Too much poor than the rich

    • @blackcoraltv6787
      @blackcoraltv6787 Před 2 lety

      Same with nearly every country on earth so what's your point? It's called capitalism

    • @zillamakilla8775
      @zillamakilla8775 Před 2 lety

      Netherland was like that in the past with China, but your mouth can't insult China today. This era is is for the big population and to make it doubly sure Nigerian youths are audacious, nimble, intelligent, enterprising, fearless, not timid and whatever. Just watch out Mr Nay sayer.

  • @lf1496
    @lf1496 Před 2 lety +4

    The name is pronounced "Dan Gotaye" he's worth $14 Billion the least you can do is pronounce his name correctly 🙄

    • @TheNewTourist
      @TheNewTourist  Před 2 lety +1

      Thanks so much for the correction...we will get it right next time. Thank you.

    • @blade25qmay83
      @blade25qmay83 Před 2 lety

      As a Nigerian, I find your comment to be rather ungrateful. The very least you can do is be thankful for the information provided and worry less about the pronunciation. I suspect you would struggle pronouncing words that are not native to you.

  • @danarzechula3769
    @danarzechula3769 Před rokem +1

    If they're so rich why do they need to do scams?

  • @alexskatit4188
    @alexskatit4188 Před 2 lety +2

    lol...lol Nigeria is not rich. South Africa is the richest most advanced country on the continent. You have to divide the GDP by the population.

  • @WorlTramp
    @WorlTramp Před 9 měsíci

    Obviously you have never tried to drive from City to City. The roads are unbearable

  • @tekenakaribiwhyte1948
    @tekenakaribiwhyte1948 Před 2 lety +5

    Rich ? why are we deceiving ourselves, the country is in a serious mess. Please we should stop this nonsense

  • @aduduodudu7969
    @aduduodudu7969 Před 2 lety +3

    Nigeria is one of the poorest countries on earth regardless of the vast natural resources it boasts of. Nigeria as a nation have zero interest in her people, nor involve in any engagement with the development of ordinary people of Nigeria apart from tax collection from poor traders who self-sustain within deplorable market conditions. 30% of Nigerians are beggars on the streets, and even when they are employed, they are earning just enough for food or rent, and nothing more.
    As usual, this documentary has excluded the people of Nigeria and has focused on everything else that has nothing to do with developing the ordinary Nigerian people. Sad indeed!

    • @iworhjoy3830
      @iworhjoy3830 Před 2 lety +1

      Seriously... 30%
      That's a big lie...do you know what 30% Means
      Yes we maybe be poor. But this is just outrageous.

    • @aduduodudu7969
      @aduduodudu7969 Před 2 lety +3

      @@iworhjoy3830 i am sorry to upset you, but I think you are not focusing on the problem because you are either not looking or you are submerged in, or have accepted as normal the bubble of helplessness and hopelessness the ordinary Nigerians are facing daily in terms of financial survival in the country. Literally all the shop assistants, door staffs, law enforcement officers, office clerks, jobless people, old, middle age, young children, etc are either begging you for tips or literally begging you for some amount of money as a goodwill gesture to help them buy food or medicines, etc. Now ask yourself what percentage of the population constitutes 30% of the aforementioned? When you start looking at the people on the streets of Nigeria, and not up at the sun, you will see that Nigeria is rich...but Nigerians are poor....very very poor!

    • @gtsvvtihddsud6127
      @gtsvvtihddsud6127 Před 2 lety

      @@aduduodudu7969 oga shut up your mouth Nigerians are very rich

  • @zigibeat3689
    @zigibeat3689 Před 2 lety +8

    The last time I checked Nigeria is still on top of the World Bank extreme poverty list with a scary 49%.
    What it means is that maybe another 20% can only afford one and half meal a day.
    What riches are these people talking about when your citizens are all over the African countries as beggers?

    • @Odin00
      @Odin00 Před 2 lety +9

      World bank is not even reliable anymore, this is a common thing in most African countries, we are surely moving forward. No jealousy here, I can see you skipped what our youths are doing and the positives, your comments won't make a difference

    • @Omenastudios
      @Omenastudios Před 2 lety +2

      I smell jealousy. Lol. Pls tell us when did a Nigerian ever beg you for food or anything for that matter? In fact, it's usually the other way round, most other countries always want our help for one thing or the other.
      So your comment is laced with bitterness and envy and we don't really care

    • @deonortega9046
      @deonortega9046 Před 2 lety +3

      I bet you never came to Nigeria. I dare you to name a country in Africa better apart from Egypt in some aspects

    • @zigibeat3689
      @zigibeat3689 Před 2 lety +5

      @@deonortega9046 Even with private jet and free 5 star hotel I will never go to Nigeria.
      Nigeria, the only country where armed robbers can rob people in 5 star hotel.

    • @debarrysplace7540
      @debarrysplace7540 Před 2 lety +2

      What they're saying is that Nigeria is the richest country in Africa. If u can read and write, u should be able to apprehend simple sentences. You can as well research on the topic but that can only be possible if u understand what research is.

  • @ifisubtoyoucheckmyfirstvid5294

    I think Ghana is the rich one in animals and gold and money

  • @christopherlevinanakofigug1178

    Rich In Poverty

  • @afahnyabokizz01
    @afahnyabokizz01 Před 2 lety +6

    How is rich stop Mocking at Nigéria

    • @realtalk41
      @realtalk41 Před 2 lety

      Ignorante

    • @zillamakilla8775
      @zillamakilla8775 Před 2 lety

      Netherland was like that in the past with China, but your mouth can't insult China today. This era is is for the big population and to make it doubly sure Nigerian youths are audacious, nimble, intelligent, enterprising, fearless, not timid and whatever. Just watch out Mr Nay sayer.

  • @vintaiye81
    @vintaiye81 Před 2 lety

    I think Nigeria has had the misfortune of a train of bad leadership that hav we impoverished its citizens. A country cannot be judged rich when 99 percent live under a dollar a day .where less than 1 percent has captured the vast wealth of this nation either thru outright corruption or just bad policies that has done nothing for the poor masses over the many decades. So please Nigeria is poor until they get it righ. Nigeria needs good leaders to turn things around and Nigeria's Buhari is certainly NOT the man

  • @davidscott3726
    @davidscott3726 Před 2 lety +10

    No offense,but Nigeria is a Rich poor Country.

    • @editzz_3641
      @editzz_3641 Před 2 lety +1

      What do you mean?

    • @davidscott3726
      @davidscott3726 Před 2 lety

      @@editzz_3641 Nigeria is still poor. quality of life is what Nigeria still fighting to attain..It is "rich" yet it has a great 3 Rd world feel to it ,unlike South Africa that feels a bit more AFFLUENT

    • @zillamakilla8775
      @zillamakilla8775 Před 2 lety

      Netherland was like that in the past with China, but your mouth can't insult China today. This era is is for the big population and to make it doubly sure Nigerian youths are audacious, nimble, intelligent, enterprising, fearless, not timid and whatever. Just watch out Mr Nay sayer.

    • @editzz_3641
      @editzz_3641 Před 2 lety

      @@davidscott3726 Look up “is Somalia rich or poor”

    • @davidscott3726
      @davidscott3726 Před 2 lety +1

      @@editzz_3641 Most African countries are poor, except for Morocco,Libia,Egypt, Tunisia South Africa.. Damn,what could be the common denominator with the poorer countries.🤔

  • @olebogengnkhahle4185
    @olebogengnkhahle4185 Před 2 lety

    Chest pains from SA, jealousy jealousy.Whats Nigeria future in 20 years when oil is replaced by renewable energy????. Dangote must be futuristic.

  • @chukwujekwuxyxzmzyk9915
    @chukwujekwuxyxzmzyk9915 Před 2 lety +1

    So rich yet so poor

  • @sharonarnold7325
    @sharonarnold7325 Před 2 lety +1

    😢 ρяσмσѕм

  • @andriesmakgopa175
    @andriesmakgopa175 Před 2 lety

    🙄 i didn't know naira worth nothing

  • @tanzanite9944
    @tanzanite9944 Před 2 lety +20

    A bigger GDP, or GDP figure does not necessarily indicate the Richness while other factors like high population and dependence of ONE (oil) natural resource are not considered. High GDP in the book does not mean individuals and majority of citizens are living or having good life. The country cannot deliver basic things/needs like electricity and water to her majority of people, also a good chunk of her population lives in Slams of Abuja and even slams in the water.in the main city Lagos. How do you call that country Rich? Her people are dying on boats in the Habor of Libya crossing to Europe escaping the poverty in the country, others are in oversees with NO papers doing any kind of job to survive, deportation all the time by force as people don't want to go back to their country Nigeria. How is the country, Rich?

    • @naijabelle4961
      @naijabelle4961 Před 2 lety +15

      When there is corruption and the political.leaders are benefiting from keeping the masses in a bad state you dont expect to see much. Yet Nigerians thrive. No African country is as rich as Nigeria. So you cannot sit in your country and start saying nonsense. Its very obvious Nigeria is rich. The fact we have problems like electricity and insecurity is due to a useless government we have.

    • @Orion2525
      @Orion2525 Před 2 lety +13

      Rich is a relative word. As the title hints, Nigeria is Africa Rich. There are slums all over the continent and the world,
      But approximately 24% of the population is middle class and an additional 1% are rich. That 1 quarter of the population is larger than many entire nations total population.

    • @nobs997
      @nobs997 Před 2 lety +7

      @@naijabelle4961 If you can't provide the basic necessities how can you claim to be rich?

    • @nobs997
      @nobs997 Před 2 lety +2

      @@Orion2525 Have you been to Nigeria ?

    • @NymaMargaret
      @NymaMargaret Před 2 lety +30

      I like when y'all sit far away and make assumptions about Nigeria, your country in the next decade won't come close to Nigeria/Nigerians wealth.....know this and know peace

  • @adetunjijames7296
    @adetunjijames7296 Před 2 lety

    You mean why the leaders so dubious

    • @mikebabz9755
      @mikebabz9755 Před 2 lety

      When good things are being said about Nigeria on CZcams or Quora. Isn't it sad that Nigerians are the same people that jump on board to tell the world how useless their country is? Don't blame other Nationals next time they say shi.t about your country or YOU

  • @southafricaismyhome814
    @southafricaismyhome814 Před 2 lety +3

    Electric Cars TESLA is coming 😂😂😂😂😂 ELON MUSK IS SOUTHAFRICAN BORN 😂😂😂😂😂

    • @patriciahobson9367
      @patriciahobson9367 Před 2 lety

      So??

    • @mikebabz9755
      @mikebabz9755 Před 2 lety

      Calm down bruh! Nobody is competing with anybody

    • @mrvibe1570
      @mrvibe1570 Před 2 lety +3

      Yes , one of the south Africans colonial masters son. The oppressor son

    • @depromiseartz4965
      @depromiseartz4965 Před 2 lety +1

      But not from SA😂😂😂😂😂😂😂

    • @interestingthingstoknow8975
      @interestingthingstoknow8975 Před 2 lety +1

      Hahahaha... Elon Musk doesn't claim South Africa as his citizenship....hahaha... at least Aliko Dangote is really Nigerian...claims Nigeria and lives in Nigeria all year round...hahahaha

  • @westpointemsllc276
    @westpointemsllc276 Před 2 lety

    Richest country in Africa with the most corrupt government and politicians whose sole purpose is to make life difficult for it citizens..a prime example is governor hope of I'm state now sending his own private forces going around and killing his own igbo people with help from his godfather Buhari..#ZOO NATION#

  • @goldendove8502
    @goldendove8502 Před 2 lety

    I won't mention a lot of missed facts, etc. when you say manufacturing and don't show innoson motors, bennie mac, omatek, war ships, helicopter, etc (vegetable oil bottling on replay). and deep in world bank. UN universal goals to blanket the local initiatives. go and sleep man. pinkish people problems

  • @sonofnok2153
    @sonofnok2153 Před 2 lety +1

    Show me the evidence of Nigeria's "Rich- ness" in just 15% of the population, or in the infrastructure, or in human development index. NONESENSE!

  • @reznikboris5
    @reznikboris5 Před 2 lety

    BLACK LABEL BEER NEVER FINISH IN SOUTH AFRICA N WEN IT FINISH WE SEE IF U GUYZ WILL WAKE UP SO CONTINUE DRINKING

    • @ayobampilo5762
      @ayobampilo5762 Před rokem

      How much are body parts in Ogun state, I want to perform a ritual Asap

  • @mickantwi
    @mickantwi Před 2 lety +4

    The richest country in Africa is Congo

    • @depromiseartz4965
      @depromiseartz4965 Před 2 lety +3

      Lol😂😂😂😂😂😂😂
      not even top ten

    • @victorflomo3282
      @victorflomo3282 Před 2 lety

      Should be DRC Congo 🇨🇩 but it's constant conflict in that country.

    • @amandaeguale1641
      @amandaeguale1641 Před 2 lety +4

      We Nigerians love Congo, so what now

    • @scottola2497
      @scottola2497 Před 2 lety +2

      Antwi ...quite day dreaming !! Nigeria's riches also have something to do the the higher collective productivity of 210 million people as well as greater industrial numbers in Nigeria {which happens to be indigenous too} !!

    • @mickantwi
      @mickantwi Před 2 lety

      @@amandaeguale1641 that dosen't make you the richest country in africa

  • @taonacheke7343
    @taonacheke7343 Před 2 lety +3

    and poor at the same time

  • @kinzigalaxy1283
    @kinzigalaxy1283 Před 2 lety +7

    But still a third world country with a high rate of unemployment

    • @interestingthingstoknow8975
      @interestingthingstoknow8975 Před 2 lety +1

      Just like other African countries too right?.....lolll.... Remember this video is about the progress going on.... negativity won't stop Nigeria.....

    • @NymaMargaret
      @NymaMargaret Před 2 lety +1

      But richer than your country still

    • @kinzigalaxy1283
      @kinzigalaxy1283 Před 2 lety +2

      @@NymaMargaret Their is nothing like richer Nigeria is just poor & extremely dirty. Countries like south africa,Egypt,Morocco & kenya are much better than that ramshackled nigeria

    • @amandaeguale1641
      @amandaeguale1641 Před 2 lety

      That is the whole Africa for you

    • @NymaMargaret
      @NymaMargaret Před 2 lety

      @@kinzigalaxy1283 yes so poor and then so rich that she tops your country in charts, meaning your country is so poor with zero worth

  • @racistyoutube2244
    @racistyoutube2244 Před 2 lety +1

    Rich Land yes, Rich brains no... And you can see the evidence from the fact that Nigeria is the richest country in the world by natural resources yet the same Nigeria is the poverty capital of the world..i am from that part of the world so i know what I'm saying

    • @iworhjoy3830
      @iworhjoy3830 Před 2 lety

      Rich Land yes. Good governance no
      Here I helped you correct it
      .

    • @zillamakilla8775
      @zillamakilla8775 Před 2 lety

      Netherland was like that in the past with China, but your mouth can't insult China today. This era is is for the big population and to make it doubly sure Nigerian youths are audacious, nimble, intelligent, enterprising, fearless, not timid and whatever. Just watch out Mr Nay sayer.

  • @jeffason7413
    @jeffason7413 Před 2 lety +1

    Nigeria ain’t the richest country in Africa !!! I be naija myself and stop the lie werey

    • @TheNewTourist
      @TheNewTourist  Před 2 lety +1

      What makes you think so?

    • @henrydonald8632
      @henrydonald8632 Před 2 lety +6

      So which country is the richest, Ghanaian claiming Nigerian

    • @amandaeguale1641
      @amandaeguale1641 Před 2 lety +4

      You are not a Nigerian, we all know your country

    • @mrvibe1570
      @mrvibe1570 Před 2 lety +4

      He is from Ghana oo. That one city country called Ghana. 😂😂😂

    • @orukpe1
      @orukpe1 Před 2 lety

      so many ignorant here

  • @michaelstrong722
    @michaelstrong722 Před 2 lety +1

    I disagreed with you Nigeria is poverty and begger like almajari Madmmedoom Buhari

    • @terwasegusha9390
      @terwasegusha9390 Před 2 lety

      No country on earth that does not have beggars, travel around the world and grow up.

    • @michaelstrong722
      @michaelstrong722 Před 2 lety

      @@terwasegusha9390 ur President is begger ask China are not asked of that ?

    • @zillamakilla8775
      @zillamakilla8775 Před 2 lety

      Netherland was like that in the past with China, but your mouth can't insult China today. This era is is for the big population and to make it doubly sure Nigerian youths are audacious, nimble, intelligent, enterprising, fearless, not timid and whatever. Just watch out Mr Nay sayer.

  • @clementnathaniel9144
    @clementnathaniel9144 Před 2 lety +10

    God bless Nigeria 🇳🇬

  • @chnick1908
    @chnick1908 Před 2 lety +11

    God bless Nigeria 🇳🇬