Pavore9:


You are right. My family bought plots of land in Ojota, Lagos state back in the mid 70s when a plot was going for N650, my parents said that N650 was like paying millions of naira because they were paying N9 per month as rent for the 3 bedroom bungalow they were living in. Many people were not even earning much back then as it is also today but the difference is the population explosion, more people for less resources.

The cost of that passport was my dad's monthly salary then and we were living well.

somehow:
Name them, at least I am not a novice when it comes to land business.

Agbowa, isiu and agunfoye areas in ikorodu...

Abule ira along badagry express road...

bigtt76:
You said it all. Not everyone could afford that N800 back then. How much was the minimum wage again? People should stop using the past to hurt themselves. We can't turn back the hands of time... Those days are gone and buried!

Correct. Even the value of US dollars then is much higher than now...the whole world has come along way...though Nigeria own has been much longer.

Goodluck Nigeria

NaijadrivaCars:
As at today, 1,169.84 United States Dollar =456,237.60 Nigerian Naira.

An amount that couldn't buy a plot of land in Lagos then but today, it can in some areas.


Nigeria which way?

And N800.00 will give $2.08 in the market.

In 1982 #800 bought you very big house

ednut1:
like he said more people less resources now. If the present Nigeria had 1/4 of its current population it would have been ok. But we keep fucking and giving birth

Please remind us China's population again and how their economy is faring

The date on the stamp reads " 3 Oct. 82" ,while the pen inked on the passport is 3 /8/82 which is two months earlier .
I,am not insinuating that there wasn't a time naira was valuable than the dollar but in this particular case something is amiss.

900warriorz:
My Country was once GREAT

no!
Currency was great, now currency is.....

be good to everybody

michlins:
Truth is that exchange rate isn't a determinant of how good an economy is. For instance, Ghana cedis exchanges higher than the Chinese currency and Korean won and that doesn't mean Ghana has a better economy. Another example is the Kuwait Dina which exchanges for almost $1000/dinar. During the said time, very few people can afford to buy a car even when it sold for #4000. But we have folks buying used cars today for tens of millions.

Having said the above, it's undeniable that Nigeria didn't have potential back in the day. It's just that we had lots of petrodollars and less population and the government then was able to do her job without borrowing like today. Forget all the glorious tales our parents told us about how quick you can get jobs. That's because there were fewer graduates then. We need total overhaul of this country

I agree with you on some of the points raised. However,the truth is that the governments of that era failed to plan adequately for the future which is today. They were corrupt,self serving and incompetent. Nigeria has no excuse to be in this precarious and pitiable situation.

There was a country

OsuIgboIpob:
It will never be well with this old generation people.
Wicked GREEDY and wreckless people.

They detroyed everything for us.

Later, you'll be hearing children of today blablabla


Old fools.

You are taking it too personal. This insults you are putting on old people includes your parents, grand parents, uncles, aunties, etc. What you should be asking yourself is what legacy or good work will you leave behind for the next generation? Do you know how much the same amount will be in the next 10, 50 or even 100 years? How are you sure it will not be worse than today's rate? How will you feel if that generation insults this generation which you are part of? Change is the only constant thing.

Absolutely, We as a race are cursed, Most unproductive, Most ignorant people on this planet.

yet you see on another thread, There are people arguing why in Dangote ,All the Sr. Engineers, Technical experts, Developers are from India.
We dont have a Quad Redundant HOT Redundant DCS ACS Engineer in entire continent (Except maybe SA), and we are challenging Dangote.

We dont have a single company able to design HP Boiler (All are importing from China, India, Korea) yet we are asking why like Indians , Nigerians are not making a Mega Petrochemical Complex for Dangote.

Can you imagine such height of ignorance and dumbness? sometimes i just dont reply but read helplessly, in which direction we are going.

teepain:


The problem is not in the absolute population; the problem is in the percentage of the unproductive population.

Sad it may seem, the truth is that the only profitable thing some people would have done by the end of today is coommenting on Nairaland! And that doesn't add a dime to our GDP.

So many people are waiting to consume the cake baked by few people!

Good ol' days...
No lie, I remember what my fella's grandpa told us when he flew to the USA in the 80s; said he paid the taxi driver in naira and he was like hunn, ya kno'? Was damn happy...

rationalhuman:
Absolutely, We as a race are cursed, Most unproductive, Most ignorant people on this planet.

yet you see on another thread, There are people arguing why in Dangote ,All the Sr. Engineers, Technical experts, Developers are from India.
We dont have a Quad Redundant HOT Redundant DCS ACS Engineer in entire continent (Except maybe SA), and we are challenging Dangote.

We dont have a single company able to design HP Boiler (All are importing from China, India, Korea) yet we are asking why like Indians , Nigerians are not making a Mega Petrochemical Complex for Dangote.

Can you imagine such height of ignorance and dumbness? sometimes i just dont reply but read helplessly, in which direction we are going.

You are so spot on! I don't believe that we are cursed though. I believe, rather, that we have very poor work ethics. Have you walked into a Nigerian office (bank, hospital) and the person that is supposed to attend to you is busy on the phone attending to unofficial matters for several minutes! At the end of the day, we now complain about the economy. The question we should be asking ourselves daily as individuals is "How much have I contributed to Nigeria's GDP today?"

bigtt76:
You said it all. Not everyone could afford that N800 back then. How much was the minimum wage again? People should stop using the past to hurt themselves. We can't turn back the hands of time... Those days are gone and buried!

You're not bright.

friday2011:


Agbowa, isiu and agunfoye areas in ikorodu...

Abule ira along badagry express road...

Bros, those ones na ogun state o.
Anything after Maya na ogun state


Anything after checking point in Badagry side na ogun state lol

which way Nigeria

I HEARD THE OLD STORY THAT IF SUPER EAGLES WIN FIFA WORLD CUP, THERE WILL BE CHEAP NAIRA AT LOW PRICE RATES, TRUE?

Pavore9:


You are right. My family bought plots of land in Ojota, Lagos state back in the mid 70s when a plot was going for N650, my parents said that N650 was like paying millions of naira because they were paying N9 per month as rent for the 3 bedroom bungalow they were living in. Many people were not even earning much back then as it is also today but the difference is the population explosion, more people for less resources.

also we keep importing things and exporting less. in 70s, we exported more goods and imported less.

zero911:

God will continue to punish dem OBJ, IBB, PMB, GEJ etc.. Fooooools!

you didnt add abacha

NaijadrivaCars:


Lies. Population is an advantage if well utilised. Besides, we have the resources.

No, we don't.

Sweeetheart:



nonsense theory. this doesn't mean the past leaders and citizens then did not failed us


Nigeria discovered oil in 1956, Dubai discovered theirs in 1966 but look at Dubai today and look at Nigeria. I'm not even talking about human development here, I'm talking about physical development


this country na hopeless and useless country, there is no soothsaying about that

You still miss the point.
What is the population of "Dubai"?
What is the yearly budget of "Dubai"?

Now compare those with Nigeria's.

OROSUNBOLB:


I agree with you on some of the points raised. However,the truth is that the governments of that era failed to plan adequately for the future which is today. They were corrupt,self serving and incompetent. Nigeria has no excuse to be in this precarious and pitiable situation.

that is why I keep maintaining that we had few human resources to run the nation when we got independent and many years later. few educated ones at that time were greedy and lacked foresight.

michlins:
Truth is that exchange rate isn't a determinant of how good an economy is. For instance, Ghana cedis exchanges higher than the Chinese currency and Korean won and that doesn't mean Ghana has a better economy. Another example is the Kuwait Dina which exchanges for almost $1000/dinar. During the said time, very few people can afford to buy a car even when it sold for #4000. But we have folks buying used cars today for tens of millions.

Having said the above, it's undeniable that Nigeria didn't have potential back in the day. It's just that we had lots of petrodollars and less population and the government then was able to do her job without borrowing like today. Forget all the glorious tales our parents told us about how quick you can get jobs. That's because there were fewer graduates then. We need total overhaul of this country

God bless you man..I was having a the same argument with a friend some days back..our parents exaggerated the past too much..na why we vote for buhari and except a miracle

somehow:


Bros, those ones na ogun state o.
Anything after Maya na ogun state


Anything after checking point in Badagry side na ogun state lol

You are expanding the bone of contention here...

The fact remains that those places i mentioned are part of lagos state and are still miles away from the lagos/ogun boundary...

But jokes apart, you need to visit those places and see the speed of developments...

For low income earners, Its very wise to buy at those locations and build gradually than waiting for huge funds to come.

SIRTee15:


It's not about salary or minimum wage....
Its the purchasing power that matters....
In tho 70s, things were cheap and the little salary can actually go a long way....
U could buy basic food stuffs with coins and few naira....

My Dad bought his first car in 1979, just few months after he started working as a teacher......
And he paid cash for it.....
I doubt a new oil and gas worker can pull such stunt now....

Inflation and naira depreciation over the years, has led to constant rise in cost of living without a commensurate rise in wages....
That's what our parents complained about....

The truth is working n middle class had it better then than now....

It is a shame.
I expected you to talk about real economics given how you started about "purchasing power"
but you ended up on baseless anecdotes just like others.
"Few coins" means nothing without adjusting for inflation.

How much was your father earning per month, you refused to state.
How many months did he work before paying for his car, you refused to state.
Was he from a death poor family without savings or his family were comfortable,
you didn't state.

Maybe it is not your fault, perhaps, he didn't tell you the whole story because economics
can be complicated.

Unfortunately, emotions can't fix economics.

That is not how to determine the standard of living op,how much is a university Graduate in both countries at the same level are earning.
Then what is the quality and worth of goods and service their salary can purchase .
Car,mortgage,food etc.

There's just no time or anyone who will make Nigeria great again!

stagger:


The cost of that passport was my dad's monthly salary then and we were living well.

They were living "well" then because there were fewer people depending
on corporate job.