₦airaland Forum

wanted222:
TRIBALIST LIKE YOU HAS NO BUSINESS BEING ALIVE

He is the tribalism but you are the one that wants him dead for his tribal views. Make it make sense.

agaliboy:
Aguiyi Ironsi no be igbo man ba?. Dey play

So ironsi that didn't rule for more than 6 months is the person who you want to lay blame on?

6 months out of 60+ years?

Na wao

TimeManager:
Who told you he was not under pressure?. When you grow up, you'd understand what we talking about.

-kiss the truth!

under pressure from who?

TimeManager:
Kids of nowadays, SMH!. When you stopped history in schools, this is what you get- ignorance!, blissful ignorance!. If you knew the level of great hardships that our parents went through during the period, you won't be here heaping a satanic worship on a man who initiated the begining of economic woes on Nigeria. With the introduction of SAP, IBB destroyed the economic foundation and progress of the country. In one fell swoop, naira was devalued by 500%, then up to 2000%, our debts increased to about $34billion, inflation rose to 54%. We could barely service our short term loans and thus, sellers overseas were reluctant to sell goods to us. Till today, we haven't recovered from SAP, IMF, World Bank captivities that IBB led us into and guess who was the Finance minister at the time, an economist and an ex-World Bank staff, Dr Kalu Idika. Kalu. If there's anyone that should be tied to stake and shot, it is these two evil geninuses.

-kiss the truth!

Yep you're probably right, but 1978, Obasanjo was in power.

system21:
It's very shameful. Sometimes you begin to wonder what this people benefit from supporting bad governance

No matter how much some people suffer, once it has anything to do with religion, they forget the suffering and behave so stupid. That is why the Northern elites are so happy that so many of them are illiterates. The few literates among them are seriously enjoying the mass illiteracy. Another demonic issue is tribe.

Giant of Africa now is Population and nothing more

Open the book of lamentations because our children are going into exile in various countries as the economy of Nigerians has been broken down. Tinubu is the man that will ultimately lead Nigeria to final captivity because of the sins of the elders, the religious leaders and the people.

Salewa97:
Nigerians and their ignorance.

So can you tell us how many Nigerians can afford a car back then and how many can build a house in 1978.

When they sold cars for less than 5000 naira, how many Nigerians get car?

People just fuulishly think when $1 = #1, even automatically everyone will be able to buy Porsche.

maybe you are the one who is ignorant.

back then, inflation was minimal enabling people to save and so were able to buy things they wanted to buy and build houses. that is when the concept of living within ones means was a practical possibility.

the difference today is that you cant save much in expectation of using it buy anything in the near future because inflation will erode the value of your savings

kokoA:
Nnamdi Azikiwe that forced us together na idoma man?

Him tie rope for your neck ni

Feldie:
What was the population of Nigeria then?
How many Nigerians consumed imported products then?
Your grandparents likely survived on pounded yam and bitter leaf soup back then. Now that you chase after oyinbo things without producing anything to export what do you expect?

God bless for this analysis

Can we please hit the street protesting for Tinibu to resign... People are suffering... Inflation rate is way over 300%... Exchange rate is making the poor not able to buy imported goods... Why is fuel price still up after almost a year after subsidy was removed... They are looting the money that would have been used to subsidize the price of gas.... WE NEED REVOLUTION... NIGERIANS ARE SUFFERING

system21:
The Nigeria of 1978, $13,100 was ₦10,220. What is the rate today? Bad leadership and corruption destroyed our economy.
Once upon a time in Nigeria, Naira was above dollar. That was when we were GIANT of Africa. Not anymore.
Then, $13,100 was ₦10,220
Today, $13,100 is ₦19,650,000.

Congratulations to all the supporters of failed government and corruption

What was the minimum wage in 1978?

Hmmm

TimeManager:
Ignorant kid, you went as far as 1978 but jumped over 1985 when IBB took over and institutionalized poverty in the country. Naira was badly devalued, inflation rose geometrically, debt was blowing up. People could barely feed themselves. It was also in his regime that black market became part of our system where corrupt politicians took dollars out of the official market into the black market to resell at higher rates. Till today, we have had to live with the black market. Comparing prices of commodities to 1985 is ridiculous, in which part of the world sells the same commodity in 2024 as was in 1985?. Ignorant child.

-kiss the truth!

What IBB did in 1985 is what your Tinubu did in 2023. The bolded is what we are experiencing today just as in 1985.

Now tell me from your logic. If IBB failed, how has Tinubu done well?

Can we just say that Tinubu is IBB 2.0?

-Kiss the truth

Agboriotejoye:
IBB in 1978

They apply brain to this Zombiesm na 🧟‍♂️ 🧟‍♂️

Where in his post did he mention 1978? You sound more like a zombie to me. Just because you are worshipping Tilumbu does not mean you should deactivate your brain.

Timtellect:
Can we please hit the street protesting for Tinibu to resign... People are suffering... Inflation rate is way over 300%... Exchange rate is making the poor not able to buy imported goods... Why is fuel price still up after almost a year after subsidy was removed... They are looting the money that would have been used to subsidize the price of gas.... WE NEED REVOLUTION... NIGERIANS ARE SUFFERING

Pls don't even think it. It won't work. So many are enjoying it as long as it is ur religion that and or tribe that is on that seat. Even if the suffering is increased x 10

Salewa97:
Nigerians and their ignorance.

So can you tell us how many Nigerians can afford a car back then and how many can build a house in 1978.

When they sold cars for less than 5000 naira, how many Nigerians get car?

People just fuulishly think when $1 = #1, even automatically everyone will be able to buy Porsche.

back then it was very easy to build house. our ancestors had lots of lands and houses before they were 30.

lands were almost free. it wasnt uncommon to exchange a piece of land for a tuber of yam. unlike today that land cost a fortune.
go and do your research.

Bobloco:
I don't mean the Naira value

I am referring to the dollar value

What is really wrong with this guys are you blind?
You are asking the value in 1978 who care about the value when dollars was worthless to naira ?

Deogratiasfx:
Pls don't even think it. It won't work. So many are enjoying it as long as it is ur religion that and or tribe that is on that seat. Even if the suffering is increased x 10

I'm so sad bro

Smartguyboy:
What is really wrong with this guys are you blind?
You are asking the value in 1978 who care about the value when dollars was worthless to naira ?

Kai! Please don't say dollar was worthless
Say it was a little less valuable than naira then.

I mean what's the difference between 1 and 1.3?

headboyprince:
back then it was very easy to build house. our ancestors had lots of lands and houses before they were 30.

lands were almost free. it wasnt uncommon to exchange a piece of land for a tuber of yam. unlike today that land cost a fortune.
go and do your research.

Which ancestor have free land in 1970s?

It’s clear you don’t know what you’re talking about. How many Nigerians get house for 1970?

headboyprince:
lol. dont be dumb. so many people can afford phones today than in 2006, does that mean that we've all gotten richer?


tech products tend to get cheaper as new ones come out. reason almost everyone can afford it today.

if all the cars today were pegged at the price #5k with same value of 1978. then almost no one will be able to afford them.

So why don’t car get cheaper as new one come out?

Can you see who is now dumb now? Abi how much dem dey sell car for 1970?

TimeManager:
Who told you he was not under pressure?. When you grow up, you'd understand what we talking about.

-kiss the truth!

Oh you've reversed what u said before which one do I take now. U see how dumb u sound

TimeManager:
Kids of nowadays, SMH!. When you stopped history in schools, this is what you get- ignorance!, blissful ignorance!. If you knew the level of great hardships that our parents went through during the period, you won't be here heaping a satanic worship on a man who initiated the begining of economic woes on Nigeria. With the introduction of SAP, IBB destroyed the economic foundation and progress of the country. In one fell swoop, naira was devalued by 500%, then up to 2000%, our debts increased to about $34billion, inflation rose to 54%. We could barely service our short term loans and thus, sellers overseas were reluctant to sell goods to us. Till today, we haven't recovered from SAP, IMF, World Bank captivities that IBB led us into and guess who was the Finance minister at the time, an economist and an ex-World Bank staff, Dr Kalu Idika. Kalu. If there's anyone that should be tied to a stake and shot, it is these two evil geninuses.

-kiss the truth!

You said IBB destroyed the country and you are blaming Dr Kalu Idika for it another Igbo man to take the blame. His the one that implemented the useless idea IMF told IBB abi?

lexy2014:
maybe you are the one who is ignorant.

back then, inflation was minimal enabling people to save and so were able to buy things they wanted to buy and build houses. that is when the concept of living within ones means was a practical possibility.

the difference today is that you cant save much in expectation of using it buy anything in the near future because inflation will erode the value of your savings

How much do people earn them, that how you calculate it.

As at 1974, the minimum wage is just 60 naira per month. Please how much does it cost to build a house in 1974?

Now who is ignorant?

Tareq1105:
What was the minimum wage in 1978?

it was around N60 which had same value to $228 in today US currency.

Salewa97:
How much do people earn them, that how you calculate it.

As at 1974, the minimum wage is just 60 naira per month. Please how much does it cost to build a house in 1974?

Now who is ignorant?

you are the one still being ignorant because none of your questions invalidates what I said earlier.

back then, inflation was minimal enabling people to save and so were able to buy things they wanted to buy and build houses. that is when the concept of living within ones means was a practical possibility.

the difference today is that you cant save much in expectation of using it buy anything in the near future because inflation will erode the value of your savings

Bobloco:
What's the value of $13,100 in 1978?

And that make it even worse cos 13k dollars can do much more then and slightly less than now but the equivalent naira then(10,200) cannot buy anything now

TimeManager:
Kids of nowadays, SMH!. When you stopped history in schools, this is what you get- ignorance!, blissful ignorance!. If you knew the level of great hardships that our parents went through during the period, you won't be here heaping a satanic worship on a man who initiated the begining of economic woes on Nigeria. With the introduction of SAP, IBB destroyed the economic foundation and progress of the country. In one fell swoop, naira was devalued by 500%, then up to 2000%, our debts increased to about $34billion, inflation rose to 54%. We could barely service our short term loans and thus, sellers overseas were reluctant to sell goods to us. Till today, we haven't recovered from SAP, IMF, World Bank captivities that IBB led us into and guess who was the Finance minister at the time, an economist and an ex-World Bank staff, Dr Kalu Idika. Kalu. If there's anyone that should be tied to a stake and shot, it is these two evil geninuses.

-kiss the truth!

IBB was not Nigerian head of state as at 1978.

Salewa97:
How much do people earn them, that how you calculate it.

As at 1974, the minimum wage is just 60 naira per month. Please how much does it cost to build a house in 1974?

Now who is ignorant?

so what is it that you have calculated in your post above?

when was there a discussion about calculation of anything?

how does that invalidate the following?

back then, inflation was minimal enabling people to save and so were able to buy things they wanted to buy and build houses. that is when the concept of living within ones means was a practical possibility.

the difference today is that you cant save much in expectation of using it buy anything in the near future because inflation will erode the value of your savings

[quote author=FourQu post=128233504]Nigeria was a healthy country when nnamdi forced us to be together.

After then other tribes said no igbo man will ever rule Nigeria and then the country started nosediving till it reached its current depths today.

So you can't blame the igbo man for the rundown state of the country, you can only blame azikiwe for forcing us to be together even though his people could never rule the country.

So don't blame the igbo for Nigeria rot. Blame the hausas, fulani and yorubas. [/quote

Your type is the greatest problem Nigeria has!
We are talking about bad government and you are there telling us that Igbos are not part of it,
Igbos, Hausa and Yoruba are the problem of Nigeria.

[quote author=Timtellect post=128236350]I'm so sad bro[/quote

That is the sad truth.

Bobloco:
Bro, my question has nothing to do with the exchange rate.


My question is centered on what ₦10,220 could afford in 1978, comparing it to what it can afford today.

Do you get the gist, bro?

Ane you don't think that is doing more damage to your position?
If 10,220 can afford most things that are unaffordable now and it's almost 20m now, it means massive inflation has eaten deep into the nation between that period and now.
Conversely, $13000 as at then is just about $ 60000 now, hence it is still able to afford most things it could afford then so what exactly is the point you are making?