₦airaland Forum

I am still surprised how my dad was able to build the two storey building we live with a salary of 85,000NGN in the early 2000s. Seriously Naira has lost substantial value

He still earns same 85k monthly in 2022 as pension ,just imagine

Such amount can't even build a foundation of bungalow house nowadays

It is because our currency has value then unlike now

Did you bother to ask him how he managed?...I guess he doesn't feed,no transport,no rent and no expenses atall from the 85k.

How did the naira lose so much value in such a small time ?

The grade level salary of N85k in 2000 will today be about N850k.
So with discipline over a 10 year period,the same person on your dad's grade equivalent today will save about N40m-N50m.
So value wise,it's similar.
Just that your dad may have made a lot of sacrifices,if that was his only source of income.

It has lost over 47% in value In just three years

A dollar should be hitting 100+ naira in early 2000s

N85,000 in the 90s was big money

datola:
N85,000 in the 90s was big money

Not that big. Flat Benz tokunbo (200-230) was between 80-120k depending on grade

That period you mentioned I was inI year 1 in university.A plate of good food with meat then was 30 naira

Anambragully:
I am still surprised how my dad was able to build the two storey building we live with a salary of 85,000NGN in the early 2000s. Seriously Naira has lost substantial value

He still earns same 85k monthly in 2022 as pension ,just imagine

Maybe with side runs.

Mleeperbother:
Maybe with side runs.

Definitely no be Naija again

Anambragully:
I am still surprised how my dad was able to build the two storey building we live with a salary of 85,000NGN in the early 2000s. Seriously Naira has lost substantial value

He still earns same 85k monthly in 2022 as pension ,just imagine

Minimum wage was N1,200 then and your father was earning N85,000 which is today N2,125,000 by approximation.

That's not a surprise.

If he was a civil servant, it is easy because of what happens in civil service.

Today, civil servants with less than 250k monthly salary are building estates. You know how...

MadamExcellency:
Minimum wage was N1,200 then and your father was earning N85,000 which is today N2,125,000 by approximation.

That's not a surprise.

Okay

He was among the corrupt civil servants,they steal money times 10 their salary.

The land about about to build in now, my Dad bought two plot of land for 10k early 90s. I doubted him until he brought out the document and writing agreement between the two parties. Same land now is being price at 15m now.

The land am about to build in now my Dad bought two plot of land for 10k early 90s. I doubted him until he brought out the document and writing agreement between the two parties. Same land now is being price at 15m now.

Lanretoye:
Did you bother to ask him how he managed?...I guess he doesn't feed,no transport,no rent and no expenses atall from the 85k.

What you should ask is where is the house situated

With diligence you will get a piece of land for 100k den, and with just some few millions house don dey

Bhet land alone now is million plus, so he might just be right

BUHARI fault

ambale:
What you should ask is where is the house situated

With diligence you will get a piece of land for 100k den, and with just some few millions house don dey

Bhet land alone now is million plus, so he might just be right

It was an Inherited house, the land was never bought . So all investments went into the building proper

PeterObi4LP:
The land am about to build in now my Dad bought two plot of land for 10k early 90s. I doubted him until he brought out the document and writing agreement between the two parties. Same land now is being price at 15m now.

Just wow. Incredible

deadkamalu:
He was among the corrupt civil servants,they steal money times 10 their salary.

We're not the reason for your generational and family poverty

Mr bitterness, envy and jealousy swerve