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₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) - Car Talk (3) - Nairaland

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Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by fesok18: 10:52am On Apr 27, 2022
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Bellotelli: 10:53am On Apr 27, 2022
And your annual salary then could be 120 naira

1 Like

Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Cantonese: 10:54am On Apr 27, 2022
Justiceleague1:
Zombies will soon come with their zombie economic analysis grin

And explain how some zombies sit and watch things getting worse and turning them into matters of joke.
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Nobody: 10:56am On Apr 27, 2022
Bellotelli:
And your annual salary then could be 120 naira

Depending where you worked for, like eg in academia or as a doctor, your employer then could and would give one a car loan to buy you a car.
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Pootle: 10:56am On Apr 27, 2022
making or earning that sum those years was difficult, and alot of economics theories come to play
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by KingMack(m): 10:56am On Apr 27, 2022
I remember when my papa buy I'm volvo for 1k and I'm Suzuki bike for ₦560 Omo when I saw the reciepts my head spin.. I'll look for it and post here shocked

Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Contekbbc: 10:57am On Apr 27, 2022
Don't forget that big boys those days were earning #60 per month
Which is around #180k now.

So far nobody is earning #60 per month now we should not be surprised cars are not sold the same amount now!

1 Like

Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by okoroemeka(m): 10:58am On Apr 27, 2022
Lanretoye:
Before you save 2000 that year,body go tell u.
how many people bought bicycle that time talkless of #2000+ naira car
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by PROPHETmichael: 10:59am On Apr 27, 2022
Even with that, it was expensive then and only the elites can afford it.

1 Like

Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by pacespot(m): 10:59am On Apr 27, 2022
How can a country's currency be so degraded?
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Giftcarddealer(m): 11:00am On Apr 27, 2022
farem:
See our dear lovely country Nigeria.
In 1974 a saloon car is sold at #2, 290 (Two thousand, two hundred and ninety Naira.
We need to overhaul Nigeria

Courtesy ; Daily Times 1974.

Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by sultaan(m): 11:01am On Apr 27, 2022
Sometimes if we have to be rational and take things as they are, a $1900 Escort new was sold in Nigeria for $2300 which gives a 400/25% profit margin.

If you take a new car model and convert to naira, does it still cost 25% more than it did in US /UK or a lot more.
What has changed, then you look at the salary of specific grades of workers in Nigeria and US/UK then compare with today's rate . The idea is to do a real cost of living analysis and fix the defect.

If I work in the US and my monthly salary can buy 500 kilos of corn, in Nigeria I should be able to buy at least 200 kilos of corn with my salary. And that is how you guarantee food security
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by DamianX: 11:01am On Apr 27, 2022
Tinubuadvocate:
This one can't do without mention Yoruba people. And if you make a thorough investigation you will realize that this guy staying in Yorubaland.

And if he's staying in yoruba land so fvcks what? Person no go bash and tell una the truth again?
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Nobody: 11:02am On Apr 27, 2022
Buhari na useless presido undecided
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Nobody: 11:02am On Apr 27, 2022
pacespot:
How can a country's currency be so degraded?


Like most African countries, we import more than we export.
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by dayssolalee(m): 11:06am On Apr 27, 2022
We should look forward, now that Tesla and Mercedes are up on their sleeves with EV, what is Nigerians doing with their oil.


I fear for this country.

J
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Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by redcliff: 11:06am On Apr 27, 2022
iLegenddNoReply:
Let's assume 2,290 Naira is equivalent to Dollar at the time. If so, that means 2,290 Naira equals $2,290.

Using today's exchange rate of 594/$, that means 2290 * 594 = 1.360,260. Approximately 1.4 million Naira of today. With 1.3, you can buy a car today — even if it's tokunbo.

So, with this, it's wise to make your money in Dollar and convert to Naira. With this, you won't feel the difference.

so you are saying 1.3m will get you a tokunbo car in Nigeria? you did not add inflation to your calculation.
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by PointZerom: 11:09am On Apr 27, 2022
Lanretoye:
Before you save 2000 that year,body go tell u.

My dad bought brand new Peugeot 404 for #2000.
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by toujurs: 11:11am On Apr 27, 2022
If that car still exist, it can't be sold at that same price.
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Adroitcareers: 11:12am On Apr 27, 2022
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Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by pat077: 11:14am On Apr 27, 2022
farem:
See our dear lovely country Nigeria.
In 1974 a saloon car is sold at #2, 290 (Two thousand, two hundred and ninety Naira.
We need to overhaul Nigeria

Courtesy ; Daily Times 1974.
how much was minimum wage then and how many people could afford it?
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Aidejay(m): 11:20am On Apr 27, 2022
Asgard73:
See Yoruba economist dem up..Guess the Nigerian situation of 2013 and 2020 is nothing but change in Year with same price This humans are really empty... By the time Tinubu becomes president .. and a bag of rice is sold for #50k ... Yoruba will tell you that is same price , only change in year.

Elon Musk Should Learn From Nairaland When It Comes To Freedom Of Speech. It's Only Nairaland That Reetards Like This Have Freedom Without Repercussions. Seun >>>>>>>
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Yemon: 11:20am On Apr 27, 2022
In 1982 I was earning #125.00 as a primary school teacher.A 12" television black and white was sold for #80.00

1 Like

Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Lamasta(m): 11:24am On Apr 27, 2022
Good old days

1 Like

Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Aboguede(m): 11:27am On Apr 27, 2022
He forgot to note that, that amount is about 3 times its value in today's world. Which is to say about 7k dollars. And yes a car of that level is still about 7k dollars in today's market any where in world
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Propertyforum: 11:29am On Apr 27, 2022
The good old days they say
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by tnerro1(m): 11:30am On Apr 27, 2022
How many could one person at that time
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by Nobody: 11:32am On Apr 27, 2022
phemmyfour:
N2000 that year na big money

Average salary back then used to be N200, so it LL take at least 10 months to save up to that

That's assuming the salary earner doesn't make any expenses from his salary for the 10 months..
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by olusma23(m): 11:33am On Apr 27, 2022
[quote author=constant1960 post=112296076]Is still same price just the year that changed [/quote0]


Are you for real? How much was it sold abroad in that same year and how much is the car cost in abroad nowadays? Calculate the percentage increase.
Re: ₦2,290 Car Sold In Nigeria In 1974 (Throwback Photo) by VeeVeeMyLuv(m): 11:35am On Apr 27, 2022
Brand new car o...

Now most Nigerians can only afford to buy second hand Nigerian used cars.

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