Comments on: NVIDIA: What you need to know about the company that’s 12x the size of Nigeria’s economy https://nairametrics.com/2024/06/06/nvidia-what-you-need-to-know-about-the-company-thats-12x-the-size-of-nigerias-economy/ Destination for Business news and analysis from Africa's largest economy Mon, 10 Jun 2024 11:31:56 +0000 hourly 1 https://wordpress.org/?v=6.5.3 By: Cji https://nairametrics.com/2024/06/06/nvidia-what-you-need-to-know-about-the-company-thats-12x-the-size-of-nigerias-economy/#comment-778410 Fri, 07 Jun 2024 09:08:53 +0000 https://nairametrics.com/?p=490775#comment-778410 No, Nvidia is not 12 times richer than Nigeria. Nvidia market cap is $ 3 trillion, which means the total value of all its cash, its equipment, its peoole, its ideas etc is valued at $ 3 trillion.

What you are measuring as Nigeria, is just the GDP of Nigeria this year which would be equivalent to the “turnover” or Nigeria in 2024

What would be Nigerias total value would be far more than GDP. To compare Nvidia to Nigeria, we would have to measure Nigeria’s total wealth in cash, fixed and movable assets, savings etc?

How about if we added the value of Nigerias mineral reseves? If we put all that together with the valuen of the people, what would nigerias asset value be?

Lastly, just to compare, Nvidia had a turnover of $ 26 bn in 2023.
In the same year, Nigeria had a total of $ 30 billion in revenue from just oil and tax.
So that excludes other Govt income and private sector income.
So Nigerias public sector income was higher than Nvidia.

Nvidia total debt is $ 11 bn.
Nigerias debt is $ 101 bn, which means Nigeria can raise ten times more capital than Nvidia.

We could go on and on, however the point is that Nvidia cannot be said to be 12x richer than Nigeria as this is very very very inaccurate.

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