Remii: I used pence, shillings and pounds. I remember we used to tie 2 pence to our shorts going to school. I saw the introduction of Naira and Kobo, there was also a 25k coin, that was called Dollar, (USD was apparently equivalent of 25K in 1970s)it was not well accepted though so it faded out very soon.
In my town, a drop of intra-city bus was 10K and that is the name they still call the minibuses till today over there. I also remember that N20 was a bragging note in those days at Old Buka at OAU, Ife. If you brought out the green note of Murtala, everyone who saw it would look at you like a "big boy" lol fyi, monthly school stipend was N30 at the time.

Bros na we set dey here now no be una set!! You want us to start savouring the days of N1.25 to a 1$ here. I don't think there was 25kobo in the seventies though, maybe you were trying to recollect 2_1/2kobo, which wasn't even so common to find around.

Let's do some math here:

In 1994, my dad bought a Honda accord for N150,000. I believe it was a 1990 model tokunbo from a dealer in western ave.

Today a 2009 accord sells for N2.5 million. So 17 yrs ago this amont will buy me 16 accords! 17yrs ago

Mehn things don wowo for this our Naija no be small o

Any other item to compare?

yes i remember using it for offering in the church and it will make
noise so that everyone will know i dint use my offering money for akara

leighcon:

Bros na we set dey here now no be una set!! You want us to start savouring the days of N1.25 to a 1$ here. I don't think there was 25kobo in the seventies though, maybe you were trying to recollect 2_1/2kobo, which wasn't even so common to find around.

http://www.cenbank.org/Currency/Oldnotes/1973.asp check that link. Naira was introduced in 1973 by Gowon for your information.

I remember when we use to suck the 10kobo inside kerosine
for good 3-5 days inother to wash off the rusty parts.
u use your bear foot to wash it on sand.

rufychuks: emmmm! How does this affect d introduction of 5000 Naira notes!?

It affects the availability of 5000 Naira notes IF the price of G@ry goes above 100 Naira per kg.

gutters or drainage was filled with coins.

dayokanu: Use am buy ekanna Dimka (Dimkas nail), Pito, Eyin Alangba, Rice and blom blom (Baloon)and Sumal chewing gum

In the days of agidi jollof
in the days of "fighting crabs"

I saw 5 kobo, 10kobo, 20kobo, 50kobo, if you have 1 naira note in the class, you're the biggest boy for that day.

mama oghene canteen? hmm eba and titus fish head = 60kobo

This country is now for the dogs. SAD!!!!

occam: Let's do some math here:

In 1994, my dad bought a Honda accord for N150,000. I believe it was a 1990 model tokunbo from a dealer in western ave.

Today a 2009 accord sells for N2.5 million. So 17 yrs ago this amont will buy me 16 accords! 17yrs ago

Mehn things don wowo for this our Naija no be small o

Any other item to compare?

Young man stop displaying your ignorance. Value of money always changes over the years. Your money has a very different value today - in economics it's called NPV (net present value)

In 1994 your Dad was earning how much? Perhaps N10,000 a month (that's what middle level bankers earned in the mid 90's) today middle level bankers earn N300,000 a month.

1990 rent for a flat in UK was £350 per month, today it's £1500 a month. Just one example. Go on brush up on your economics

Remii:

http://www.cenbank.org/Currency/Oldnotes/1973.asp check that link. Naira was introduced in 1973 by Gowon for your information.

Bros I acknowledged your elderness now!! I think it was the 1/2kobo that came to mind. For real 25kobo was never so common to find, it was scarce in the 80's, your link supports my assertion, it was re-introduced in the 90's again though.

May your days be long sir

faithin9ja:

Young man stop displaying your ignorance. Value of money always changes over the years. Your money has a very different value today - in economics it's called NPV (net present value)

In 1994 your Dad was earning how much? Perhaps N10,000 a month (that's what middle level bankers earned in the mid 90's) today middle level bankers earn N300,000 a month.

1990 rent for a flat in UK was £350 per month, today it's £1500 a month. Just one example. Go on brush up on your economics

occam: Let's do some math here:

In 1994, my dad bought a Honda accord for N150,000. I believe it was a 1990 model tokunbo from a dealer in western ave.

Today a 2009 accord sells for N2.5 million. So 17 yrs ago this amont will buy me 16 accords! 17yrs ago

Mehn things don wowo for this our Naija no be small o

Any other item to compare?

Economics Guru(AKA O. A Lawal),

The dude's statement implies that 17 years ago N2.5m would have bought him 16 Accords, wondering why the currency lost so much value in just 17 years. If our inflation rate has been single digit then it wouldn't have been this bad.

Back to our gist jare, any savourable experience again?

faithin9ja:

Young man stop displaying your ignorance. Value of money always changes over the years. Your money has a very different value today - in economics it's called NPV (net present value)

In 1994 your Dad was earning how much? Perhaps N10,000 a month (that's what middle level bankers earned in the mid 90's) today middle level bankers earn N300,000 a month.

1990 rent for a flat in UK was £350 per month, today it's £1500 a month. Just one example. Go on brush up on your economics

Its about the purchasing power of the Naira not NPV. In 1994 diollar was N35; today it's N160. And because we import everything, inflation is always high and wages will rise constantly to keep without

In the early 80s the naira had real purchasing power, today it's worthless like toilet paper. That's what I'm talking about

Since IBB introduced SAP the Naira has been on a downward spiral. When you can buy food for N5 then and today N200 gets u nada

Compare price increase in USA/Canada vs Nigeria in for the last 20 yrs and you'll see how much imported inflation has decimated our economy.

@Post

Yeah, I vividly remember those days. 10 kobo bought me puff-puff in primary school. Oh how the time and years fly!

Good old days. Bus fare for adult from Bariga (Oja/market) to Palm groove was then less than 10 kobo, because my parents used to give me 10 kobo. I attended Pedro Primary School at Famous b/stop. So, for me then, it was 6 kobo to & fro, and the extra 4 kobo for my "igbadun" @ school.

Then, come to think of Bazooka joe bubble gum and the collections of it's small paper story line.....lol. You definitely want to have your coins close by.

cooldipo: Yes I did! Wonderful memory!! I still remember put those coins under sheet of paper then shading it to reveals its different designs on the paper. I still remember how we buy spoonful of rice during break period from the school's food vendor in her oil-soaked-clean-plastic plate with a naira coin....."Awa l'omo ile iwe school A..........."

ur post brought back sweet memories of years gone by. Did exactly same with the coins too. Tanx

leighcon: Did well! 10kobo = 10 (sweet alangba) while 30kobo = 1 doughnut, days when coke(thick bottle) was 70kobo and crush/seveup family was 65kobo. 1 kobo was fading out then but then we still gather 5 and spend. N1 (red and later green coulour) was the big boys money sprayed at parties.

Things don spoil no be small.

o buoy, did I hear you mention agidi jollof? chei!!! You just stir up my memory me, did you attend army children school dodan barracks ikoyi obalende lagos? Meehn dats in the good o' days......

oooohhh, i love doz coins, instead for dz Unfortunate CBN pple, to think of how they will upgrade d old currency, and make things cheaper so we can be spending them, They are saying no going back(to HELL), nah all ur family will go to hell

occam:

Its about the purchasing power of the Naira not NPV. In 1994 diollar was N35; today it's N160. And because we import everything, inflation is always high and wages will rise constantly to keep without

In the early 80s the naira had real purchasing power, today it's worthless like toilet paper. That's what I'm talking about

Since IBB introduced SAP the Naira has been on a downward spiral. When you can buy food for N5 then and today N200 gets u nada

Compare price increase in USA/Canada vs Nigeria in for the last 20 yrs and you'll see how much imported inflation has decimated our economy.

Young man, you are still missing the point.

Nobody doubts inflation, but even the US dollar you use as a yardstick has changed in value since 1994, actually prices have more than trebled in the US since 1994 (I gave you the UK example above).

What you fail to mention is incomes have gone up markedly since 1994. Are people still earning 1994 salaries? actually many things such as cars are even more affordable today than in 1994 Nigeria. It was in the early 90's that Nigerians started buying imported tokunbo cars'. In present day Nigeria, Nigerians have started buying brand new cars again (with a downward blimp in 2010)

I asked you, if you currently earn a salary, compare what you earn now to what your father earned in 1994.

By the way I bought my first car in 1985 in my final year university - a N200, 12 year volkswagen beetle.

Sisi_Kill: Errr. . .ex. .excuse me what. . .what is this 5 kobo and 10 Kobo of which you speak??

Ok ,u started existence on the earths surface durring the 90s, so u may not appreciate this thread.Its a Good Old Days kind of thread.

I had 2 much older sister's who between them must have had a million bags. Once in a while, or maybe every day even , I used to rifle through the ones they hadn't used for a while.

On a bad day I would find less than 10 kobo. On a good day I would find a few 10 kobo coins. I never used to take any notes that I found because I would have been questioned by the nosy neighbour whose stall I bought the sweets or biscuits from.

I used to like Trebor sweets, there was Minta, Refreshers and the third one that was red which wasn't as popular. I also regularly bought goody goody and fruit drops. Not forgetting kulin kuli a ko mo l'ole which probably was true in my case. I think the popular biscuits then were Bisco biscuits and I think they made Malted Milk which were my favourite.

Anyway I got away with the pilfering, serves my siser's right for having so many bags.

occam: Let's do some math here:

In 1994, my dad bought a Honda accord for N150,000. I believe it was a 1990 model tokunbo from a dealer in western ave.

Today a 2009 accord sells for N2.5 million. So 17 yrs ago this amont will buy me 16 accords! 17yrs ago

Mehn things don wowo for this our Naija no be small o

Any other item to compare?

Sorry Ewu are you conparing a 1990 Honda accord to a 2009 accord?

bashy_demy: Sorry Ewu are you conparing a 1990 Honda accord to a 2009 accord?

See who is calling somebody a 'goat'.

This internet that just allows ignoramus type without any thought.

The young man is wrong to compare 1990 Honda to 2009 Honda based on price, but not becuase the 2009 Honda is better quality than 1990.
the simple way to compare prices is to workout how many hours, or days a person has to work in 1990 to purchase an item compared to how days or hours a person works in 2009 to purhcase the same item.

for instance, if a daily paid labourer in 1990 worked a building site for day and earned N5, that N1 could buy him one plate of eba and one piece of meat. In 2009 the same labourer works for one day on the building site and earns N500, he uses N200 to buy one plate of eba and one piece of meat. (Net Present Value NPV) from here you can work out the real inflation rate.

I could remember a day my uncle gave me N5 to go and buy something, I was in primary 3 then, precisely in 1984.

Believe it or not, two adults were asked to follow me to our compound to find out from the elders of our clan how N5 note got to the hand of a small boy like me.

My uncle was berated for giving such a young boy like me such an amount of money.

That's to tell you how big and valuable that amount of money was.

But today, my niece in nursery 2 will not say thank you for giving her N50. She just looked at it ... and moved on.

aswani: I had 2 much older sister's who between them must have had a million bags. Once in a while, or maybe every day even , I used to rifle through the ones they hadn't used for a while.

On a bad day I would find less than 10 kobo. On a good day I would find a few 10 kobo coins. I never used to take any notes that I found because I would have been questioned by the nosy neighbour whose stall I bought the sweets or biscuits from.

I used to like Trebor sweets, there was Minta, Refreshers and the third one that was red which wasn't as popular. I also regularly bought goody goody and fruit drops. Not forgetting kulin kuli a ko mo l'ole which probably was true in my case. I think the popular biscuits then were Bisco biscuits and I think they made Malted Milk which were my favourite.

Anyway I got away with the pilfering, serves my siser's right for having so many bags.

mbhs139: I could remember a day my uncle gave me N5 to go and buy something, I was in primary 3 then, precisely in 1984.

Believe it or not, two adults were asked to follow me to our compound to find out from the elders of our clan how N5 note got to the hand of a small boy like me.

My uncle was berated for giving such a young boy like me such an amount of money.

That's to tell you how big and valuable that amount of money was.

But today, my niece in nursery 2 will not say thank you for giving her N50. She just looked at it ... and moved on.

You see, it's not good to lie. the boldened corroborated my story.

In those day, no young person dare go and buy anything with naira notes ... you will be quarried.

Op: you brought tears to my eyes by making me remember those days when there was so much fun in life. When u run around with panties in the rain. go hunting with boys. Have so many real friends( no facebook things), climb rose-apple trees. Dodging-fire with water pistol. Paper sword, police cap, gun, gun holster , cowboy belt. Creativity was the order of the day. I remember when 50k would transport me to church and they will still allow lapping or "sitting on the engine". Now we have kids fenced-in inside their own houses and with little or no friend to play with. With so many parents scared of letting their kids out of sight for a sec. I really wonder how these generation of kids see the world.

blaise26.abj:
Op: you brought tears to my eyes by making me remember those days when there was so much fun in life. When u run around with panties in the rain. go hunting with boys. Have so many real friends( no facebook things), climb rose-apple trees. Dodging-fire with water pistol. Paper sword, police cap, gun, gun holster , cowboy belt. Creativity was the order of the day. I remember when 50k would transport me to church and they will still allow lapping or "sitting on the engine". Now we have kids fenced-in inside their own houses and with little or no friend to play with. With so many parents scared of letting their kids out of sight for a sec. I really wonder how these generation of kids see the world.

Yes. I remember those LSTC buses then, you will know their destinations with the front numbers they display, like those in London. My old man will sees a bus and will tell me that " this is one is going to CMS" and " that one is going to Obalende" and so on. But what do we have today? NURTW taking over the whole situations.

Remii: I used pence, shillings and pounds. I remember we used to tie 2 pence to our shorts going to school. I saw the introduction of Naira and Kobo, there was also a 25k coin, that was called Dollar, (USD was apparently equivalent of 25K in 1970s)it was not well accepted though so it faded out very soon.
In my town, a drop of intra-city bus was 10K and that is the name they still call the minibuses till today over there. I also remember that N20 was a bragging note in those days at Old Buka at OAU, Ife. If you brought out the green note of Murtala, everyone who saw it would look at you like a "big boy" lol fyi, monthly school stipend was N30 at the time.

Bros
you don teh true true. You sure say; Awolowo no be your classmate so?

faithin9ja:

Young man, you are still missing the point.

Nobody doubts inflation, but even the US dollar you use as a yardstick has changed in value since 1994, actually prices have more than trebled in the US since 1994 (I gave you the UK example above).

What you fail to mention is incomes have gone up markedly since 1994. Are people still earning 1994 salaries? actually many things such as cars are even more affordable today than in 1994 Nigeria. It was in the early 90's that Nigerians started buying imported tokunbo cars'. In present day Nigeria, Nigerians have started buying brand new cars again (with a downward blimp in 2010)

I asked you, if you currently earn a salary, compare what you earn now to what your father earned in 1994.

By the way I bought my first car in 1985 in my final year university - a N200, 12 year volkswagen beetle.

My point exactly. In Nigeria, price of goods have risen up to 20 times (and more for some items) in the same period. YoY double digit inflation continues to erode people's earnings. Wages, particularly in the public sector have not kept apace with this level of inflation. So in real terms, Nigerian workers are getting significantly less pay compared to 20 - 25 yrs ago


The good old times that people talk about on this thread is just 30yrs ago. This is a relatively short period for the steep price increases in Nigeria today.

Nuff said, I'll let folks enjoy their memories.