Stop being ignorant, do you how invaluable 100 naira was? How many people can boost of 20 not too talk of 100 naira then? In 80s, people were collecting 20naira, 25 naira as salary, go and make your findings. I was in a midst of some elderly people and I said I pray Nigeria is great again, they asked me has Nigeria ever been great? Wo, don't let us deceive ourselves with Nigeria was great.

LOVEGINO:
compare the N100 with $100 then and now. Nigeria is gone.

Don't deceive yourself egbon, let me give you an analogy and I want you to be sincere with the question I will ask you. 1 naira is equal to 418(Central bank rate) while 1 Ghana Cedis is equal to 0.13 US dollar, now overall economically is Ghana better than Nigeria? Don't rush to answer my question, you can ask people that are more knowledgeable around you. Shalom

NGN100 was circa USD45 which translate to NGN45 x 600 = NGN27,000 today. In the 1980s, the rent for one room was circa NGN1, one-way ticket via Nigeria Airways from LOS-ENU was NGN33, PhD was NGN600/month but today a PhD earns hundreds of thousands/month. The buying power remains the same. Little earnings low prices, big earnimgs high prices, c'est la vie tout le monde (Es asi en todo el mundo)...

nextstep:
Why do people like posting this without also posting average salaries from 1980's? I know you're trying to make a point, but please do it with some perspective.

If I showed you pictures of what you could buy with cowries and salt in 1780's you would be amazed.

Fun fact: sal, the Latin word for salt, was often used as payment to Roman legionnaires - their salarium, is what we now call salary .

Enlightening....

Soleye24:

Don't deceive yourself egbon, let me give you an analogy and I want you to be sincere with the question I will ask you. 1 naira is equal to 418(Central bank rate) while 1 Ghana Cedis is equal to 0.13 US dollar, now overall economically is Ghana better than Nigeria? Don't rush to answer my question, you can ask people that are more knowledgeable around you. Shalom

ghana is far better than Nigeria

LOVEGINO:
ghana is far better than Nigeria

This is vague, elucidate!

BibleStoreng:
Looks like it's dollars the person is spending lol

Nigeria needs to be back on her feet as soon as possible. Ensure you register for your PVC o

Today is the last day of our giveaway, check our signature to participate

no be by pvc o

MMempire:
We are indeed finished! Dey have finished us patapata. This regime is the worst. I "commented my reservation" now.

lmao your Reservation is indeed an apt Obeservation. There was once a COUNTRY.

Brexxit:
But minimum wage is much higher than then.

Minimum wage in the 80's is not even up to #200 naira,as at today minimum wage is 30k.

30K can’t buy half of what is listed there today but #100 could back then

A001:
Nigerian politicians don finish this country

This was the NIGERIA of the past, the NIGERIA that some people got to know through hearsays and history lessons.
The NIGERIA that offered you a job and a car immediately after your graduation from the University. The NIGERIA that offered both free education and free health services to her citizens.
The NIGERIA that other countries across the Universe really respected and held in very high esteem.
The NIGERIA that her citizens were given a passport free access to many countries without any search upon entry.
The NIGERIA the whites and foreigner's exalted.
The NIGERIA today needs a serious reset before we can come any close with the standards of the G7 countries or even the best in Africa or West Africa at the very least comparison.

Yam has always been expensive �

I'm only mesmerised by the correct spellings of the listed items plus even after a mistake was made, the lister gave a simple stroke for correction! Can someone tell me why we still need to take the IELTS?

1972 $1 = N0.658
1973 $1 = N0.658
1974 $1 = N0.63
1975 $1 = N0.616
1976 $1 = N0.62
1977 $1 = N0.647
1978 $1 = N0.606
1979 $1 = N0.596
1980 $1 = N0.550 (0.900 Black Market Rate)
1981 $1 = N0.61
1982 $1 = N0.673
1983 $1 = N0.724
1984 $1 = N0.765
1985 $1 = N0.894 (N1.70 Black Market Rate)

Back in 1984 1 NAIRA WAS 0.765 dollars

If 100 naira could buy the above in 1984, ( 100 naira x 0.765) 76.5 dollars

The equivalent of the 2022 version would thus be 76.5 dollars x 600 ( todays dollar to naira rate ) 45,900 naira


The next question is then if you took 45,900 naira to the market today would you be able to buy all of the stuff this person wrote down in 1984.


Economics made easy

Ogun kill pass Nigeria administration till date


Fuvk administration

Brexxit:
But minimum wage is much higher than then.

Minimum wage in the 80's is not even up to #200 naira,as at today minimum wage is 30k.

Doesn't still make sense.

#200 in the 80s is over 100k today.
What was exchange rate then?

$100 dollars can buy more

How much was the minimum wage then?

Bad government

japajapa2canada:
The question to ask is

How many people could afford 100 naira then?

I'm telling you . #100 back then is like 100k this present time.

UrPapa:

So you where expecting to buy those stuffs with #100 in 2022

10k won't buy these stuff u know

Jack500:


Fixed!

What you guys don't know is; it is only big people that have that #100 then.

That #100 is equivalent to #100k now

This one na lie, that 100 naira was like 1k because 1k note wasn't available theb

Brexxit:
But minimum wage is much higher than then.

Minimum wage in the 80's is not even up to #200 naira,as at today minimum wage is 30k.

And you think the purchasing power of 30K now is up to #200 of then? It is simple mathematics, the worth of money is in its value. The value of our money now has depreciated and it is at an all time low.

Take a look at that list again and let us pick rice for example. The #200 of then would buy about 95 "Congos" of rice while 30K now can only buy roughly 31 "Congos". The price per "congo" today is between 900 to 1000.

In 2050, you'll tell your children that you purchased same food items with N100,000 and they will be extremely amazed and mouth-agaped how things were extremely cheap way back in 2022.

LOVEGINO:
no mind am.

sure

Brexxit:
But minimum wage is much higher than then.

Minimum wage in the 80's is not even up to #200 naira,as at today minimum wage is 30k.

Can you compare the value of ₦200 in 1980 to ₦30,000 of today?

Or what are you trying to do? Manipulate people's minds with lies?