The west told us to devalue our currency was the biggest mistake

bizzibodi:
Average salary was #30

What is average salary?
Average for what grade level in the civil service?
What was minimum wage in 1974?

just2endowed:
The west told us to devalue our currency was the biggest mistake

Why did we have to listen to the West, if not that we are inconsequential nonentities who depend on the West (whites) to even survive unlike the Asians and Arabs

@ApostlePaul14:

There are people who are actually making it legitimately while still in Nigeria. It's a digital age. Work from home. Use Google and YouTube to do some research.

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

Who dash you 200. Minimum was about N30. It was Udoji who then recommended about N60.

N200 should be for a top civil servant

Justiceleague1:
Zombies will soon come with their zombie economic analysis

omenkaLives
omenka
Heliues

In 1974, before the Udoji Award of 1975, a civil servant received from lowest NGN1200 to NGN15000 highest per annum. After the Udoji Award, a PhD was from NGN7200 per annum whereas O'Level was NGN96 and HSC NGN120 per month. 54 Kobo was equivalent to 1 USD starting from 1973; and NGN4 to 1USD in 1988. An Igala Pan was NGN10 000 in 1988. In the 1970s, a car of NGN3000 in Nigeria equivalent to USD6000 would buy 20 fairly used economy cars of not too high mileage and less than 10 years old in Alabama, USA, for example.

ba7man:
See American car prices from the 70s below.

Naira had more value than dollars then.

Grandemperor:
In 1974, before the Udoji Award of 1975, a civil servant received from lowest NGN1200 to NGN15000 highest per annum. After the Udoji Award, a PhD was from NGN7200 per annum whereas O'Level was NGN96 and HSC NGN120 per month. 54 Kobo was equivalent to 1 USD starting from 1973; and NGN4 to 1USD in 1988. An Igala Pan was NGN10 000 in 1988. In the 1970s, a car of NGN3000 in Nigeria equivalent to USD6000 would buy 20 fairly used economy cars of not too high mileage and less than 10 years old in Alabama, USA, for example.

I greet you sir. You don tey for world oh. Hope say you don get wife and children keep sha??

N2,290.00 (1974) = N2,290,000.00 (2022),up Naija !

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

Lol
Which car you wan buy for 1.3 today?

Kingluqman:
I swear I don’t know oo… he doesn’t know the language tokunbo cars is speaking now. Even if Na Nigerian used, the car of 1.3m fit later kee you

Many of Dem lives in denial of reality ni

They just want to support the government at all cost which is not a bad thing

But distorting facts na hin me I no dey

1.3m can't even get a decent naija used vehicle except the ones wey steering go hard like olumo rock

Kfed4ril:


Lol
Which car you wan buy for 1.3 today?

You dey mind am, he dey even call tokunbo.

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.

Bad belle for Tinubu no go carry you reach any where

anonimi:


What is average salary?
Average for what grade level in the civil service?
What was minimum wage in 1974?

What d minimum wage?

Oh my ward!

Agreed!

dasparrow:
Unbridled corruption, greed and overpopulation is what turned Nigeria to what she is today. Add to that the complacency of its citizens, bad governance along with constant tribalism and religious intolerance. Nigeria will never go back to what it was in 1974.

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.

I purposely allow this thread to page enough before I reply you

I don’t live in Yoruba land

Stayed 15 years in yorubaland

Do their juju

Eat their ewedu

Understand their language

Speak their language

Know yoruba land more than 90% of Yoruba people ..
they don’t travel I do...

I left yorubaland becUse of their tribalism

Right now

I Dey Northern Nigerian and am so loved and accepted ..

Been around the world .. and met different humans .. racial hatred..

But in all Yoruba tribalism beat German hate on blacks

You won’t understand because you’re a Yoruba man

My close friends are all Yoruba .. and Fulani.. but not Yoruba people that lives in yorubaland

Justiceleague1:
Zombies will soon come with their zombie economic analysis

make una use your membership in justice League help us fight them na

Oh

You think you are talking to a kid.

Asgard73:


I purposely allow this thread to page enough before I reply you

I don’t live in Yoruba land

Stayed 15 years in yorubaland

Do their juju

Eat their ewedu

Understand their language

Speak their language

Know yoruba land more than 90% of Yoruba people ..
they don’t travel I do...

I left yorubaland becUse of their tribalism

Right now

I Dey Northern Nigerian and am so loved and accepted ..

Been around the world .. and met different humans .. racial hatred..

But in all Yoruba tribalism beat German hate on blacks

You won’t understand because you’re a Yoruba man

My close friends are all Yoruba .. and Fulani.. but not Yoruba people that lives in yorubaland

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.

Tells of how bad naira has become

Purchasing power don spoil o , make una no dey even try compare say that year is diff from this year

lordm:
How much your father's salary in 1978.

His father's salary was N75 monthly.

[quote author=iLegenddNoReply post=112306104]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, it's wise to make your money in Dollar and convert to Naira. With this, you won't feel the difference that much.[/quote

Almost on point but that time 1N=$2
So N2290 = $4,580

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

See economics like a woman selling pepper at ikotekpene.

Lubbishhhh!!!

Where can I get the car now?,I want to buy it

The average cost of new cars in the US in the 70s is around 3,500/4,000 USD.
Now in 2022, average cost of new cars in America is around 47K USD.
47,000/3,500 = 13.5
That's around 13.5/14 x the average cost in the 70s.

The average cost of new vehicle in nigeria in the 70s is around N2,500/N3,000.
Now in 2022, the cost of new cars in Nigeria is around N4,500,000 to as much as N45,000,000.
But let's use the worst case scenario let's say we bought a new car for N3,500,000.
3,500,000/2,500 = 1,400
Thats around 1400 x the average cost in the 70s.

Compare those statistics US vs NG inflation rate.

Naira will continue failing against dollar and most currencies, and nothing our government can do because they are too busy doing what they do best.

Some people can come around and squabble all they want about different year same value.

The fact is remain, Nigeria is a cancer infected country that might transit into oblivion before the next 50 years.

Inflation is the government weapon of mass destruction and this country isn't built to make you succeed, infact it is built to do the opposite.

The earlier we all realize that, the better for us.

My dad got his Peugeot 504 saloon for N5k back then . . .I saw the receipt!

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

is usdt also good because that what i want to start usdt and cardano