₦airaland Forum

It's so sad what Nigeria has become. Can the poor be rich?

In what year was this?
It was still very expensive in my opinion.

I dare say it is easier to be rich (or at least well off) now than before, because the opportunities that are available now were not in those days.

chatinent:

So how much was the average salary and minimum wage then...find that out and let do the percentage if they are on par or not..

That is when we can know Wat to say

No be to dey show us 17k for flight as if 20k was the minimum wage then

mariahAngel:
In what year was this?
It was still very expensive in my opinion.

I dare say it is easier to be rich (or at least well off) now than before, because the opportunities that are available now were not in those days.

People were contented with the little they had and basically lived within their means

Unlike today,7 crates of coca cola products was enough for young working couple to organise their marriage ceremony. But this fare was in the 90s

@ tonicyril, Shagari increased the minimum wage to 120 naira

🤷‍♂️🤷‍♂️😭

Things change, people change, the world changed.
Nigeria changed but not for the better

Good old days.. We can never get a thing like this in this life again, and in the life to come

Hmm!

That 17K was war that time o!

If you try correcting for inflation vis-a-vis the current realities, you will discover that the difference is not clear.

chatinent:
It's so sad what Nigeria has become. Can the poor be rich?



cc: Dominque, mynd44, nlfpmod seun

Now that amount is from Lagos to Benin city by Kpako Bus

Stop making useless misguided comparisons. In those days you 17k was a huge amount of money as a graduate was getting about two hundred naira a month.

which year was this....??

why was it soo expensive....

chatinent:
It's so sad what Nigeria has become. Can the poor be rich?



cc: Dominque, mynd44, nlfpmod seun

And do you know the average income then, the 17k that year was enough to buy a clean car.

tonicyril:
So how much was the average salary and minimum wage then...find that out and let do the percentage if they are on par or not..

That is when we can know Wat to say

No be to dey show us 17k for flight as if 20k was the minimum wage then

the minimum wage then was less than 1k. That is almost 2 years of rigorous savings without mercy.

There was never (and probably never will be) a time when the poor could afford international air transportation. Let's stop the unreasonable comparisons.

Do the calculations

Watabombshell

This was in the 70s and minimum wage was ₦18.

So stop fooling around like it's cheap else your fathers will be abroad

Apc is a maximum disaster
If Apc happens to Germany, they will fall yakata

Nigerians started buying tokumbo vehicles in 1987. Before then, everyone was buying brand new vehicles straight from the dealership.

Don't worry about the past, worry about the future

mariahAngel:
In what year was this?

1985. Minimum wage was £65. A worker earning minimum wage and keeping half their salary for such a trip would need 23 years of work to be able to afford this fare at that rate.

In 2024, Minimum wage is £25 Same worker earning minimum wage and keeping half their salary to pay for this trip would need 83 years of work to be able to afford the average round trip fare today.

DesChyko:
1985. Minimum wage was £65. A worker earning minimum wage and keeping half their salary for such a trip would need 23 years of work to be able to afford this fare at that rate.

In 2024, Minimum wage is £25 Same worker earning minimum wage and keeping half their salary to pay for this trip would need 83 years of work to be able to afford the average round trip fare today.

This your analysis no too clear. Let's keep it simple. Both our minimum wage and air fares are in Naira.

In 1985 when minimum wage was 125 Naira, you needed to earn it 139 times to afford the Lagos to New York ticket then.

Now with min wage of 30k and average lag to NY ticket of 2 to 2.5 million Naira, you will need to earn 66 to 81 times the current min wage to afford the ticket.

Seems like it was way more expensive back then.

You think your parents had the 17k back then? Before you see 20 Naira body go tell you. People back then mainly survived on roast yam and palm oil

At that time too it was expensive.
At same year check the price of flight in the U.S and juxtapose with todays current price.
As time goes by inflation is bound to happen, it is a natural thing although in Nigeria the inflation rate per year is very high which seems to be the problem.

chatinent:
It's so sad what Nigeria has become. Can the poor be rich?



cc: Dominque, mynd44, nlfpmod seun

Right now, most people don't want to be rich, they just want to survive.

1Alex:
Nigerians started buying tokumbo vehicles in 1987. Before then, everyone was buying brand new vehicles straight from the dealership.

everyone? Are you seeing things? People in most towns and villages would troop out to watch tortoise car roll by as if it were some alien tech. How many people had cars in an entire town back then?

ThierryJay:
This your analysis no too clear. Let's keep it simple. Both our minimum wage and air fares are in Naira.

In 1985 when minimum wage was 125 Naira, you needed to earn it 139 times to afford the Lagos to New York ticket then.

Now with min wage of 30k and average lag to NY ticket of 2 to 2.5 million Naira, you will need to earn 66 to 81 times the current min wage to afford the ticket.

Seems like it was way more expensive back then.

Yours is way simpler, I agree. I guess I did too much by also considering inflation. The naira had more value then, going for N125 to £65. I also made the error of computing with less than 2 million.

It’s a shame

Feldie:
You think your parents had the 17k back then? Before you see 20 Naira body go tell you. People back then mainly survived on roast yam and palm oil

For real.

Back then we dey chop only one meat for plate.

DesChyko:
Yours is way simpler, I agree. I guess I did too much by also considering inflation. The naira had more value then, going for N125 to £65. I also made the error of computing with less than 2 million.

No P bro. Inflation is what already pushed the fares from 17k then to 2.5million now. So that has been factored in already.

Note that this comparison is only relevant specifically for the air ticket. It's likely that 125 Naira then could buy more regular commodities than the current 30k.

It's a similar way mobile calls were more expensive back in 2002 than now while other things were generally much cheaper.

I know a retired soldier that bought the all roofing sheets of his house at ₦20


He can't try that now, else...