THINGS Are Cheaper Under Tinubu Than Buhari (See How)


In 2020, I bought a water dispenser at the price of 52k. Black market exchange rate was around 480—490 per Dollar.

Let's do the calculations

52000/480 = $108.3

Now, the current price of that same dispenser is 133k and exchange rate is 1650/$.

1650 Naira x 108.3 Dollar = 178,695. Therefore, subtract the current price of the dispenser from 178,695 and you'll get 45.6k left.

This is to say, if I had bought it today, I would've saved myself 45.6k.

I checked for different things and the outcome were still the same.

I bought a small phone for 6k in 2020/2021 @480 exchange rate. 6000/480 = $12.5.

This week, someone bought that same phone for 10.5k @1650/$.

That same $12.5 multiplied by 1650 (today's exchange rate) = 20625.

So, this same 12.5 Dollar that bought only 1 phone in Buhari's regime can now afford twice that same phone today at 10k—10.5k each.

Cyway water. Used to buy it 700 under Buhari and that was 700/480 = $1.46. Today, Cyway is 1,100 and that $1.46x1650 = 2409. This same amount of Dollar that used to give me 1 Cyway bottle will now give me 2 with change left.

In summary, our money may sound big in number (now) when we're buying things, but still has a good local purchasing power in Tinubu's regime over Buhari.

The only downside is, it's only those who saved their money in Dollar or make most of their money in Dollar will benefit from this cheap prices. The rest, those who make all their income in Naira won't, except they get a 200% increase in their salaries.

I'm sorry, but I warned you guys that APC only came to steal and destroy, but at least, Tinubu is better than Buhari even though I didn't vote for him.

Though, when it comes to fuel, it's almost the same with when there was subsidy in Buhari's tenure and now there is no subsidy.

Fuel was 167/ltr. 167/480 (rate) = $0.35/litre. That means fuel was around 35 cent per litre. Today, it's around 600-700. Therefore 0.35x1650 (current rate) = 577.5.

700-577.5 = 122.5 (122.5 is the difference — which is for logistics and profit by importers). So, an importer is making 122 Naira profit per litre.

Not bad! Considering the tedious tasks involved in distributing fuel to filling stations across the nation and paying everyone in-between, losing a tanker in fire accident, etc.

If you ask me, I'll tell you that things are cheaper now for those of us who get paid in Dollar every month end and use black market exchange rate to convert our Dollars to Naira.

So, I can tell you the economy is better now than in Buhari's regime. The only thing is, the government needs to increase minimum wage by 200% and salaries by 200% too, else, the masses will suffer with their redundant old salaries.

Modified:

If you're a hungry Nigerian, what I wrote won't enter your head no matter how true it is. In fact, you'll never comprehend it. A hungry man is an angry lion.

Prove me wrong and get a gift.

Okay...

Brb! I'm coming back to you later? TTYL!

Balablu accounting.

DohFahSo:
Balablu accounting.

I'm open to be corrected. Prove me wrong in what I wrote.

Stop smoking wet weed,... Continue to dey wear ur designer up and down..... Ur post sometimes is____

osmosis101:
Stop smoking wet weed,... Continue to dey wear ur designer up and down..... Ur post sometimes is____

Prove me wrong. You can't. Chest beater. It's hunger that is making you upset, not what I wrote.

The way you are always talking about earning in dollars ehn always gets me excited and interested but its just my phone and nt having a system thats limiting me also with the struggle of fatherhood. When i get either, i'll reach out to you boss so i can learn. This nigeria and naira matter don tire me

You are part of the problem we have in this country. It's people like you that dollarized this economy. How many people earn in dollars. Whatever calculation or accounting you do should be in naira, that's our currency, not dollars. How is 133,000 cheaper/lesser than 52,000 in NAIRA?. Your calculation is trash.

iLegendd:


Modified:

If you're a hungry Nigerian, what I wrote won't enter your head no matter how true it is. In fact, you'll never comprehend it. A hungry man is an angry lion.

Thats a very good calculation but many dont understand because naira is downgrading, that y i mentioned u in the other thread to be intellect!

iLegendd:


Modified:

If you're a hungry Nigerian, what I wrote won't enter your head no matter how true it is. In fact, you'll never comprehend it. A hungry man is an angry lion.

Morning bro, I want to get clarified about something, and I know u can help, can I drop my whatssap number here so we talk? 🙏

Sucre6:


Morning bro, I want to get clarified about something, and I know u can help, can I drop my whatssap number here so we talk? 🙏

Anything that takes me to WhatsApp must be the person coming to patronize me, else, I want it in the open.

Also, anything that takes my time or stresses my brain, I tune out even before the person is done speaking. You wont understand why I had to adopt this measure. I say no more than I say yes.

So, talk to me in the open and I'll reply if it's what I can do.

iLegendd:
Anything that takes me to WhatsApp must be the person coming to patronize me, else, I want it in the open.

Also, anything that takes my time or stresses my brain, I tune out even before the person is done speaking. You wont understand why I had to adopt this measure. I say no more than I say yes.

So, talk to me in the open and I'll reply if it's what I can do.

Okay, it's fine, I have this challenge, I have books I have written and I want to publish to Amazon kindle but when setting up and account I got stuck here.
Kindly assist me on how to go about it 🙏

Those are some smart calculations.

Sucre6:


Okay, it's fine, I have this challenge, I have books I have written and I want to publish to Amazon kindle but when setting up and account I got stuck here.
Kindly assist me on how to go about it 🙏

It's so unfortunate I no longer render such help even if the person is willing to pay. I used to eagerly and excitedly handle all these for free, but I gave up a long time ago. I'm really sorry, Sir.

I don't know any video or any particular person, but I strongly believe the answer will be on YouTube. Once again, my apologies, Sir.

iLegendd:
It's so unfortunate I no longer render such help even if the person is willing to pay. I used to eagerly and excitedly handle all these for free, but I gave up a long time ago. I'm really sorry, Sir.

I don't know any video or any particular person, but I strongly believe the answer will be on YouTube. Once again, my apologies, Sir.

And they say we rise by lifting others, I have run through YouTube and didn't see any useful information there.

Thanks anyways

It's true.

Things are cheaper "in dollars" now.

That's because the dollar is overpriced compared to naira.
(No thanks to those who are sabotaging the exchange rate and profiting from it.)

But Nigerians are dumb and shallow-minded. Comprehension is far from them.
Some who can even comprehend will rather attack the person or dismiss the message if they feel you're not in support of their favorite.

But add to the calculation for better understanding.
Present it in the dollar rate.

For example;
- The water dispenser cost 52k in 2020. At exchange rate of 480/$; that's $108.3
- This year it is selling for 133k, at exchange rate of 1,650/$; that's $80.6


Also the small phone cost about $12.5 dollars then.
Today you can buy it for $6.36 in Nigeria.

Isn't that cheaper?
You see that the OP was right.


P.S: I'm apolitical. Don't give a fcck about the mudafckers in politics today or any of you guys favorites. We are our own problem and they all know this.

It means dollar has lost it value in Nigeria.
Naira is grossly undervalued CBN cardoso is correct.

jargonzboi:
It's true.

Things are cheaper "in dollars" now.

That's because the dollar is overpriced compared to naira.
(No thanks to those who are sabotaging the exchange rate and profiting from it.)

But Nigerians are dumb and shallow-minded. Comprehension is far from them.
Some who can even comprehend will rather attack the person or dismiss the message if they feel you're not in support of their favorite.

But add to the calculation for better understanding.
Present it in the dollar rate.

For example;
- The water dispenser cost 52k in 2020. At exchange rate of 480/$; that's $108.3
- This year it is selling for 133k, at exchange rate of 1,650/$; that's $80.6


Also the small phone cost about $12.5 dollars then.
Today you can buy it for $6.36 in Nigeria.

Isn't that cheaper?
You see that the OP was right.


P.S: I'm apolitical. Don't give a fcck about the mudafckers in politics today or any of you guys favorites. We are our own problem and they all know this.

As a quote currency falls the base currency becomes stronger. USDNGN in this case. If the dollar is cheaper during Tinubu's administration than it was in the previous one then the current administration is under performing. Op, it isn't something to be cheerful since it shows that the country is bleeding profusely.

Things are cheaper for who? People who earn in dollars or people who earn in naira?

Mind you, I live in the US so I have no interest in the matter. However, things are more expensive because naira is spent in Nigeria not dollars, and over 90% of Nigerians earn in naira.

So let's assume your salary was N100k at 490 to 1 official rate in Buhari Era, it means you earn 204 usd monthly. Now, at 1493 official rate your 100k is worth $63.

Salaries have remained fixed since the inflation and cost of goods and services have increased.

Even the NLC is advocating for a further increase in minimum wage to N1M, why do you think that is?

Your analysis doesn't hold water OP.

iLegendd:


Modified:

If you're a hungry Nigerian, what I wrote won't enter your head no matter how true it is. In fact, you'll never comprehend it. A hungry man is an angry lion.

Same price for cement

Reason why it's good to earn in foreign currency.

Sucre6:


And they say we rise by lifting others, I have run through YouTube and didn't see any useful information there.

Thanks anyways

There is somewhere in the Holy book someone came late and God sent him back. I have been guiding people for years and for free. Soldiers do retire. A woman can never give birth throughout her life span.

For you to fill that place, you need a Dollar account from any site or app that issues you American or UK account like Wise, Payoneer, Dukascopy, etc. You need ID for verification and when you're verified, they'll give you a foreign account.

That account number is what you'll use there. Most of these sites/apps only accept International passport or driver's licence for verification.

PARADIZEPRIEST:
It means dollar has lost it value in Nigeria.
Naira is grossly undervalued CBN cardoso is correct.

Yes, Naira is undervalued. It has so much value, but people used their perceptions to make it seem as if it has no value. So, we're living with that perception.

jargonzboi:
It's true.

Things are cheaper "in dollars" now.

That's because the dollar is overpriced compared to naira.
(No thanks to those who are sabotaging the exchange rate and profiting from it.)

But Nigerians are dumb and shallow-minded. Comprehension is far from them.
Some who can even comprehend will rather attack the person or dismiss the message if they feel you're not in support of their favorite.

But add to the calculation for better understanding.
Present it in the dollar rate.

For example;
- The water dispenser cost 52k in 2020. At exchange rate of 480/$; that's $108.3
- This year it is selling for 133k, at exchange rate of 1,650/$; that's $80.6


Also the small phone cost about $12.5 dollars then.
Today you can buy it for $6.36 in Nigeria.

Isn't that cheaper?
You see that the OP was right.


P.S: I'm apolitical. Don't give a fcck about the mudafckers in politics today or any of you guys favorites. We are our own problem and they all know this.

Thank you. At least, sensible people who work with brains and not emotions still exist in Nigeria. But, we shouldn't blame those attacking. Person dey go through a lot and you no want am to vent him anger on someone online? No na. They need to abuse someone online to feel better.

iLegendd:
There is somewhere in the Holy book someone came late and God sent him back. I have been guiding people for years and for free. Soldiers do retire. A woman can never give birth throughout her life span.

For you to fill that place, you need a Dollar account from any site or app that issues you American or UK account like Wise, Payoneer, Dukascopy, etc. You need ID for verification and when you're verified, they'll give you a foreign account.

That account number is what you'll use there. Most of these sites/apps only accept International passport or driver's licence for verification.

Thanks alot

PARADIZEPRIEST:
It means dollar has lost it value in Nigeria.
Naira is grossly undervalued CBN cardoso is correct.

More like Dollar is overvalued.

CaptainJune:


As a quote currency falls the base currency becomes stronger. USDNGN in this case. If the dollar is cheaper during Tinubu's administration than it was in the previous one then the current administration is under performing. Op, it isn't something to be cheerful since it shows that the country is bleeding profusely.

I'm not cheerful about it. Things are cheaper now (but sound bigger in price). The people are poorer to be able to afford those cheap things. That's just the situation on ground. We just want the govement to increase minimum wage/everyone's salary by 200% and the country should focus on production, instead of too much importation.

ValCon888:
Things are cheaper for who? People who earn in dollars or people who earn in naira?

Mind you, I live in the US so I have no interest in the matter. However, things are more expensive because naira is spent in Nigeria not dollars, and over 90% of Nigerians earn in naira.

So let's assume your salary was N100k at 490 to 1 official rate in Buhari Era, it means you earn 204 usd monthly. Now, at 1493 official rate your 100k is worth $63.

Salaries have remained fixed since the inflation and cost of goods and services have increased.

Even the NLC is advocating for a further increase in minimum wage to N1M, why do you think that is?

Your analysis doesn't hold water OP.

You didn't even read the main post. You have a point though, but my point is, why should you not have Dollar and make some Dollars when your economy is dependent on it?

As a child, you have a mom and a dad, but they lived separately. As a wise child, try and visit both or have both at heart. Focusing on one parent alone is bad except one is late.

Since Naira, our father and Dollar, our mother are still alive, we must have, make, save and invest in both. Failure to do that, you'll cry. Sadly, we, the poor people of Nigeria don't do that and that's why we're crying day and night.

When our mother dies, the Dollar (if we join BRICS) then we can disentangle from this old family. Or, increase minimum wage and people's salaries.

FunnyDude:


Same price for cement

Reason why it's good to earn in foreign currency.

Exactly. I just explained that in the reply above.

FunnyDude:


Same price for cement

Reason why it's good to earn in foreign currency.

Yes. It was about 3500 per bag and that gives us $7.3/bag.

Today, that $7.3 is 12k. Currently, people are buying it for 8.5k or 10k. 2k saved compared to Buhari's regime.

Sadly, some criminals, not the producers or marketers who bought from someone, who bought from another one, who bought from another greedy someone again is selling for more than 12k.

In summary, we Nigerians are our problems. We are toooooo greedy and will NEVER stop. A poor man is the last man to stop being greedy.

Oga mathematician business mumu , It's like you don't understand what inflation is. You were busy playing with toy at SS2. Naira has lost it's value, meaning we spend more than before.