The Imbalance: Google Profit Is Bigger Than Nigeria's Budget
Quote from Ndubuisi Ekekwe on July 28, 2019, 7:54 AMThis is the imbalance before any African nation that thinks it can ban or curtail Facebook and Google. It will take a lot to do that. Google makes more profit than Nigeria's total budget. This relationship is asymmetric: with 2018 $31 billion in income, Google has more money in the bank that Nigeria's $25 billion budget which may not even be fully funded.
Dishing out statistics about OTTs, Opeke said the parent company of Google, Alphabet, in 2018, raised revenues of about $136 billion, had a budget of $21 billion for Research and Development (R&D), and the net income was $31 billion. She put the firm’s peak evaluation at over $900 billion.
According to her, Facebook, also in 2018, had revenues of $56 billion, had R&D budget at $11 billion, its net income was $22 billion and its evaluation is about $500 billion, “Nigeria’s national budget is about $25 billion.”
This is the imbalance before any African nation that thinks it can ban or curtail Facebook and Google. It will take a lot to do that. Google makes more profit than Nigeria's total budget. This relationship is asymmetric: with 2018 $31 billion in income, Google has more money in the bank that Nigeria's $25 billion budget which may not even be fully funded.
Dishing out statistics about OTTs, Opeke said the parent company of Google, Alphabet, in 2018, raised revenues of about $136 billion, had a budget of $21 billion for Research and Development (R&D), and the net income was $31 billion. She put the firm’s peak evaluation at over $900 billion.
According to her, Facebook, also in 2018, had revenues of $56 billion, had R&D budget at $11 billion, its net income was $22 billion and its evaluation is about $500 billion, “Nigeria’s national budget is about $25 billion.”