This sums it up:



https://www.youtube.com/watch?v=7T5UYIv4l7s

https://www.youtube.com/watch?v=7T5UYIv4l7s

How much does this whole worldwide worth that time? Then compare to now, that gives you your answer

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.

1.4M can buy new Keke. What is advertised there is a brand new car not Tokunbo

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.

What is minimum wages then OP?

Don't be deceive by the price, only above average Nigerian brought it then. Other use motor bike called vespa �

9ja go beta one day

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.

......one of the descriptions read "good looking". That thing didn't look good looking to me compare to cars this days.

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.

U can make money in dollars when u leave Nigeria to d US

WesternOligarch:
The average yearly salary of a mid level civil servant in the 70s was #2,500 and around #200 a month.

With today's minimum wage of 33,000, how many years will it take you to make 2,500$ assuming that a dollar is 1 naira back then?

You go need hustle then too to buy such car . No be small money be that in that year .

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.

You're very intelligent and smart but what could have degenerated that 2,290 naira to 1.2million naira.
If we still make that money in dollars, as long as we still have to spend it here then is as worthless as making it here

Lanretoye:
Before you save 2000 that year,body go tell u.

its like saving 5 million today

constant1960:
Is still same price just the year that changed

Are you serious?

This was the period Nigerians send money from home to their loved ones overseas but nowadays, the reverse is the case.

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

What is average salary of today?

What's imthe equivalent of that amount today today? Nor be person wey never chop bellefull for buy that car for that amount then. It's same today. Make una leave story. When a block was sold for 6naira some people couldn't build one room so it's the irony of life

The point is how many people could afford it at that time. My father bought his first house in Hackney for £65k when he arrived England.. he sold the house last year for £480k. But when the house was £65k it was even said that the house was expensive for £65k and not everyone could afford it, his monthly wages was like £85 then.

Ola4lead:



What is minimum wages then OP?

Don't be deceive by the price, only above average Nigerian brought it then. Other use motor bike called vespa �

Don't mind the backwards goon, how many people had that much money to spend on a car then? At the time even at that price it was for the rich people only. Just like it is today.

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.

multiply #2290 by #700, that's the equivalent in Nigeria today

tsdarkside:
stop dwellin in the past....it will do you no good....

Our past is better than present, so let's go back to it.

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

Average salary N200 in 1974? this must be a joke. You could have said top salary?

VladimirPutiin:
How much is the value of that money today ??

Ask them oo

To somebody who knows. Have they started moving things to Nigeria through idiroko was just opened last week?

2200 no easy to make them oo

If not all our dads for get car

Don't get it twisted , 2k na big money then

To somebody who knows. Have they started moving things to Nigeria through idiroko border was just opened last week?

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

Average salary 1978 was around 20 naira ,

That amount was very huge at that year

Lanretoye:
Before you save 2000 that year,body go tell u.

Were GL08 civil servants able to easily afford such a car in 1974?
Can they afford it now?

Why do we like making excuses for our own and our leaders' failures

Spy360:
Same price but not same value. What matters is value not price. It's a fact that any body who didn't get up to a 50% income rise since last year actually became poorer.

You truly know what you are talking about sir.

Godjone:
Nigeria is gone

No, the physical/geographical area called Nigeria is still here as it has been since Luggard's 1914 amalgamation.
It is the people, Nigerians whi have gone with destruction of the country.

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.

wa sherey ahswear you be correct guy. their mumu never do

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

Average salary was #30