This comparable is not need the Nigeria problem is importation of consumption goods and some raw materials if we produce what we eat less dollars will be needed.

jmoore:
A wise person compares $1 to 1 Naira.

A wise person compares $500 to 500 Naira.

But many are not wise.

even 1$ to N10 would have been smarter.

MadamExcellency:
Meaning a non entity in USA can come to Nigeria with few dollars and buy LAGOS State.

This mumu didn't understand what he's saying.

Haba, how will they buy Lagos state?

But sha I know a LGA you can buy with less than 2 million dollars.

The mumurism of some members of this forum is out of this world. OK you can an iPhone at $1000 in the USA but here it will be #500,000 so between us and them who can easily afford it. Again $1 is to Americans as #1 is to us, so whoever put that argument there need to have his or her head examined.

Lol.. Things people say just to console themselves.

Kwamecron:
#agege bread
#pepsi/cocacola


U go still collect change self #300

That one na food?

princemillla:
E be like say dem just renew ur salary abi

My brother, BMC have been upgraded to 31K/Month o

Praxis758:
Yes, very correct.

With $1 here in the US, you can only buy 1 0.75l of bottled water or some canned drinks, remember tax of some cents will be added.

Though the effect of serial naira devaluation has crippled the purchasing power of Naira, but with N500, you can buy many things in Nigeria like soap, creams, toothpaste, excercise books and some others.

If anyone doubt my comment, let him prove me wrong and I'll personally go to Food Lion, Family Dollar store are take shots of their prices to see if one dollar products are common.

Though there's a store called 1 dollar store, 70% of their products are $1 but you'll still be taxed.

bros before u come here to misslead us with ur quote I'm very sure ur weekly income is what an average Nigerian earn monthly if nt more than self so before we can categorically analyse this we have to consider minimum wage most people here don't earn up to 200$ monthly

Kwamecron:
#agege bread
#pepsi/cocacola


U go still collect change self #300

Why don't you also compare the wages paid to Nigerians and Americans making these two products ?
The quality of products bought here and in USA isnt the same.
I read a thread of a Nigerian who is in USA and he said when you buy drinks you go with the bottle but here, we return. Comparing what we buy here and what they buy there makes no sense

Truth, nothing but the truth.

Those guys are either into fraud (Texas, Georgia, Maryland, NY) or Drug (Chicago). Those who work legitly for their money here hardly show off.

Most people displaying affluence on social media are broke in real terms here. I'm a living testimony, they overwork to save and oppress/spend at home.

Raylight2:

serious about that? well I was told people coming to spray dollars on arrival do work their body , soul and spirit out to make those monies

Correct.


Most Nigerians get carried away by the sound of Dollar forgetting that it has its economic burden and limitation on people here. Exchange to Nigeria is not the same as it purchasing power here.


Thanks Bros for your constructive insight.

SEGLIZ:

bro you've done well no point arguing with those us that are home base, we are just too stubborn when it comes to comparing Nigeria and other countries.
two factors - 1) we feel depressed and worthless (inferiority complex) 2) we hate it hearing anything good about our country (all we want 1st thing waking up about our country is something negative, hearing negative things about Nigeria now give a lot joy).
all that man want to hear is 'dollar is valuable than Naira' telling him Naira has a better purchasing power is a waste of time.

jmoore:
A wise person compares $1 to 1 Naira.

A wise person compares $500 to 500 Naira.

But many are not wise.

Even $1 to 100 naira but they are not wise truly.

Praxis758:
I'm not contending your facts.

My point is purchasing power of $1 is weak here in the US compare to what N500 can afford in Nigeria

None of those items you mentioned can be afforded with $1 here in the US.

Are you saying the listed items above $1?

This person is very foolish, how can you compare 1 to 500, is it not a shame to u that that 1$ is equivalent to N500 , what can u buy with N1, do u even know the colour,, mtcheew

Nawa ooo wetin happen to 1# vs 1$ dollar shey 1# no be money ni abeg Nigerians like suffering if not someone with a sense wouldn't have come up with this ridiculous comparisong,BT am when 1$ will be 1# naira like Bubu promised,from #130 to a dollar to 500# wouldn't it be a miracle if that promise come to pass

PPP( Purchasing power parity)

NIGERIA IS CHEAP TO LIVE IN.

IF YOU KNOW YOU KNOW

SEGLIZ:

bro you've done well no point arguing with those us that are home base, we are just too stubborn when it comes to comparing Nigeria and other countries.
two factors - 1) we feel depressed and worthless (inferiority complex) 2) we hate it hearing anything good about our country (all we want 1st thing waking up about our country is something negative, hearing negative things about Nigeria now give a lot joy).
all that man want to hear is 'dollar is valuable than Naira' telling him Naira has a better purchasing power is a waste of time.

Thank you so much..that is why many will die in frustration or continue to pursue fake dreams of wanting to live abroad

Snitch24:



bros before u come here to misslead us with ur quote I'm very sure ur weekly income is what an average Nigerian earn monthly if nt more than self so before we can categorically analyse this we have to consider minimum wage most people here don't earn up to 200$ monthly

Yeah but with even 150 dollars per month, most people can afford to eat and even afford to pay rent for a single room.

Now what can 200 dollars a month do for you in the United states....nothing..you will end up hungry and homeless

thebosstrevor1:


Yeah but with even 150 dollars per month, most people can afford to eat and even afford to pay rent for a single room.

Now what can 200 dollars a month do for you in the United states....nothing..you will end up hungry and homeless

bro even a street begger makes over 500$ monthly u can't compare the comfortability there to the suffering here

and again u will be lucky to get a pay of 200$ here
do ur calculations base on minimum wages bro
Nigeria is bleeped up

You should compare the minimum wage in both countries.

Snitch24:



bro even a street begger makes over 500$ monthly u can't compare the comfortability there to the suffering here

and again u will be lucky to get a pay of 200$ here
do ur calculations base on minimum wages bro
Nigeria is bleeped up

Please, stop deceiving people.

Street beggars dont make nothing...people prefer to take care of a dog than a street beggar.

Even if you earn minimum wages in Nigeria, you can still earn a living.

500 dollars a month in the US is extreme poverty and living on the streets.

Even a Nigerian earning minimum wages is better than a homeless person earning 500 dollars monthly in the United states.

Dont pray to be homeless abroad, you will hate the world

These APC people and their zombie followers want to turn everyone in Nigeria to mumu. See as people are actually discussing nonsense. These guys can justify stupidity honestly.

I cover my sense of reasoning with the blood of Jesus. No one is capable of messing up my basic economics.

Maka Chi, it shall not be well with these heartless criminals that have hijacked power in this country. Can you imagine supposed graduates trying to make sense out of nonsense. Tufiakwa!!!!

BeLookingIDIOT:

Go and use $1 to buy those things na

what happened to our own 1 naira??
Have you ever wondered what you can purchase with $500.
If that's the case, compare 500 naira with $500.

Imagine comparing 500 naira to ordinary $1.

Nigerians and useless dick measurements.

Saifulah:
Your thoughts!

Modified;
I have seen some arguments that are off point at a tangent. The idea is comparing the naira to the dollar in terms of their purchasing power after adjustments for inflation and cost of living (in our case also for tariffs, imported inflation etc)

So for instance we could compare cost of 0.75cl of water in the US and Nigeria. or other products that are locally produced in each country

what happened to our own 1 naira??
Have you ever wondered what you can purchase with $500.
If that's the case, compare 500 naira with $500.

Imagine comparing 500 naira to ordinary $1.

Nigerians and useless dick measurements.

Praxis758:
I'm not contending your facts.

My point is purchasing power of $1 is weak here in the US compare to what N500 can afford in Nigeria

None of those items you mentioned can be afforded with $1 here in the US.

what can 1 naira purchase in nigeria??

SEGLIZ:

bro you've done well no point arguing with those us that are home base, we are just too stubborn when it comes to comparing Nigeria and other countries.
two factors - 1) we feel depressed and worthless (inferiority complex) 2) we hate it hearing anything good about our country (all we want 1st thing waking up about our country is something negative, hearing negative things about Nigeria now give a lot joy).
all that man want to hear is 'dollar is valuable than Naira' telling him Naira has a better purchasing power is a waste of time.

my question is, what can 1naira purchase in Nigeria??
When are we going to compare $1 to 1 naira??

First compare their minimum wage and ours. Nigeria's minimum wage is 66 dollars.
Where as in the Us it should be around 8-10 dollars per hour of work. Spot the difference.

helinues:


So what can you buy satisfactory with N500 in Nigeria?

They are comparing $1 to N500

Why don't they compare N1 to $500

Then we can start comparing the purchasing power.

giftedben:


You are comparing $1 to N500

Why don't you guys compare N1 to $500

Then we can start comparing the purchasing power.

You should also compare 1 cedi to Dollar or 1 shilling to Dollar...

helinues:


You should also compare 1 cedi to Dollar or 1 shilling to Dollar...

gbegile boys are trying their best
dollars is falling

God bless gbegile boys oo

unbanebenezar lzaa imhotep Gandollaar

SEGLIZ:

bro you've done well no point arguing with those us that are home base, we are just too stubborn when it comes to comparing Nigeria and other countries.
two factors - 1) we feel depressed and worthless (inferiority complex) 2) we hate it hearing anything good about our country (all we want 1st thing waking up about our country is something negative, hearing negative things about Nigeria now give a lot joy).
all that man want to hear is 'dollar is valuable than Naira' telling him Naira has a better purchasing power is a waste of time.

Naira has a better purchasing power?

Are you trying to justify the drop in Naira value?