PointZerom:


My dad bought a brand new of this car in 1980 at 2k.

Same period mine bought same vehicle brand new for 3k....his salary was 200 naira.

I hate when people use analogy like this in this current time. Do you know what N1,500 was at that time?. Let America also compare what $1,500 was then to now. Mtchewwwww

Watianoengineer:
Those blaming APC for the woes of the country should direct their anger towards Peter Obi. That man is the reason why everyone is suffering currently. Nigerians were fed up with Buhari's ineptitude coupled with the naira scarcity and were ready to sack APC from leadership. Peter Obi made sure APC remained by splitting the votes he and Atiku should have jointly gotten from nigerians hereby making Tinubu to emerge as President. Peter Obi is the reason why many families are going to bed hungry. That Obidient movement was started to ensure APC remained in power. Governor Soludo warned but was insulted by Obidients. See where we are today

Peter Obi clearly won the election but was rigged out by Balablu and his evil gang of Mahmoud Yakubu and the supreme court.

Get well soon.

mrvitalis:

Stop talking rubbish

At minimum wage you need 2 years salary to buy a brand new car ; #80 x24 =1920

At minimum wage today you would need 50 years salary minimum to buy a brand new car of same class

Least brand new car now is minimum $20k that's 30 million

That's 1000 x minimum wage..... That's 83 years

You need to work and retire at from 25 to 60
3 and half times to achieve same

Stop supporting rubbish

I actually cross-checked, and the minimum wage in Nigeria was 60 naira in 1975.

https://www.google.com/search?sca_esv=21105454922e231e&rlz=1CDGOYI_enGB1064GB1071&hl=en-GB&sxsrf=ACQVn08At-xjP-VLvfgv3jktgzXsWvcBGg:1710330930394&q=Nigerian+minimum+wage+in+1975+per+month&sa=X&ved=2ahUKEwjWtbecl_GEAxWHQ0EAHacdA9cQ1QJ6BAgxEAI&biw=375&bih=553&dpr=2


Also, that Peugeot 504 was made in Nigeria.

That’s why it cost only 1,500 naira.

Innoson’s cheapest car cost around 7 million naira, so your 30 million naira figure for a brand new car is wrong and dishonest.

You need to apologise to forumers for your disinformation.

https://www.tekedia.com/innoson-vehicle-motors-brand-photos-with-prices/

seborrhic:

You people compare prices over the years like illiterates.
What was the salary in 1975?

That was Buhari's salary when he was the military governor of North Eastern State that year.

How many of those Cars your papa get, as cheap as it was then ?

In 1977 my Dad bought a brand New Volvo 244DL from RT Briscoe for N7,777. Sold our VW Beetle car to our church member for N900 and also a brand new Peugeot 404 pickup for my mum's business at about N4000.

In 1979 my secondary school boarding fees was N60 per term and you could eat 3 meals a day for about 3months.

In 1985 I could spend N20 pocket money for a week on university campus for meals that cost N1 per plate so approximately 3meals x 7days would be N21 but by the 6th or 7th day I would get another N20 from my dad to carry on the eating. Anything I needed to do was left for me from that same money so if I wanted a haircut, mineral or bread, a new pair of jeans which was also about N1 it was up to my sense of opportunity cost.

But It was about the value of the Naira to the dollar which is presumed stable till today.

Goodnewsforlife:
how much was the car sold during Jonathan regime?

I guess it was also sold for 1500 cos u are saying it now as if it was sold for 1500 in 2014

In 2014, brand new motorcycle was sold at less than ₦120,000.
This 2024, it is sold over ₦900,000

seborrhic:

You people compare prices over the years like illiterates.
What was the salary in 1975?

Very retarded people

How much was the car in France then and how much is it now?

This comparison makes no sense.

It's like saying in football, back pass was allowed then, but no longer allowed now.

There's no VAR then, but now available.

As times changes and technology evolves, price would go up

https://www.ooyyo.com/france/c=CDA31D7114D2854F111BFB6FBAF0355BFCB71D6617F286/5052728130397141284.html/

That's the current price now in France.

How much was it in 1975?

So France economy to has collapsed

Goodnewsforlife:
how much was the car sold during Jonathan regime?

I guess it was also sold for 1500 cos u are saying it now as if it was sold for 1500 in 2014

Just leave the were alone, you shouldn’t have wasted your precious time replying him

DIVINEEVIDENCE:


Peter Obi clearly won the election but was rigged out by Balablu and his evil gang of Mahmoud Yakubu and the supreme court.

Get well soon.

Since Atiku scored more than Obi. Did Atiku also rig the election?

seborrhic:

You people compare prices over the years like illiterates.
What was the salary in 1975?

minimum wage was 60 naira per month while a Pegeout 504 was 1500. this means you can use two years of your minimum wage salary to buy a car

today minimum wage is 30,000 while the equivalent car costs 30,000,000 meaning it would take you 83 years of your minimum wage salary to buy a car.

your purchasing power parity today is a mess. We are orders of magnitude poorer

The devaluation started with Babangida SFEM policy.
Second tier Foreign Exchange Market.
Yes.
There was a gradual devaluation before Babangida jargon of economics policy, but the real point of no return started with sfem.
My father bought a Peugeot 505GL at the cost of #6,000 ( six thousand naira only) in the year 1985.
Bought a Bedford lorry 5 tons at the cost of #11,000 the same year.
I can categorically remember my father and his friends saying that the vehicles are now costlier than they expected.
Now in Nigeria,what can we do with any amount up to 999,000 naira?
I just believed that life was much more easier then.
Hope is not lost
Life continues
Work hard
Try to meet up
God bless our hustling

My dad bought his for 5500 the first model with round headlights

mrvitalis:

Stop talking rubbish

At minimum wage you need 2 years salary to buy a brand new car ; #80 x24 =1920

At minimum wage today you would need 50 years salary minimum to buy a brand new car of same class

Least brand new car now is minimum $20k that's 30 million

That's 1000 x minimum wage..... That's 83 years

You need to work and retire at from 25 to 60
3 and half times to achieve same

Stop supporting rubbish

You do not need to waste your time on that guy.

As a kid, we went with a relative who was a salary earner and bought a Beetle Ijapa car. 3k. Since we paid cash, we even got an extra tyre (a second new tyre) and a gallon of oil thrown in. Long after 1975 o.

Remember that by 1975, there was even a bit of inflation due to Udoji award that increased money in worker's pockets since a couple of years earlier.

Justnation:
Tinubu has destroyed Nigeria totally

You people reason like illiterates all in the name of trolling. Tell me anywhere in the world where price of car and other goods remain the same from 1975 till now.
Is the price of car the same 1500 during Shagari, Buhari, Babangida, Shonekan, Abacha, Obasanjo, Yaradua, Good luck and Buhari (second time) ? Kids!
Do you know the minimum wage in 1975? How many people can afford to buy that car?

Pauldollars:
What do you think of the value of the Naira?

Totally messed up. In 1975, my dad could buy that Peugeot with 3 months pay. As of his retirement, he would need 7 years pay to buy the same brand new car.

Goodnewsforlife:
how much was the car sold during Jonathan regime?

I guess it was also sold for 1500 cos u are saying it now as if it was sold for 1500 in 2014

those days, that #1500 was not easy to come by! I remember I used to buy bread and butter two kobo(though not enough to fill my stomach)

gotnel:
The devaluation started with Babangida SFEM policy.
Second tier Foreign Exchange Market.
Yes.
There was a gradual devaluation before Babangida jargon of economics policy, but the real point of no return started with sfem.
My father bought a Peugeot 505GL at the cost of #6,000 ( six thousand naira only) in the year 1985.
Bought a Bedford lorry 5 tons at the cost of #11,000 the same year.
I can categorically remember my father and his friends saying that the vehicles are now costlier than they expected.
Now in Nigeria,what can we do with any amount up to 999,000 naira?
I just believed that life was much more easier then.
Hope is not lost
Life continues
Work hard
Try to meet up
God bless our hustling

God will punish Kalu Idika Kalu and Chu SP Okongwu. They brought this shit upon us.

stagger:


Totally messed up. In 1975, my dad could buy that Peugeot with 3 months pay. As of his retirement, he would need 7 years pay to buy the same brand new car.

Your dad must be earning big.

jazzman7711:
In 1975, minimum wage was like 80 naira a month, so that Peugeot you are looking at was beyond the reach of average Nigerians.

Back then things were hard, and food was costly, especially meat.

Back then we ate one or two small pieces of meat with the rice. Nothing like ‘assorted’ back then.

to butres your point, even during shagari first term early 80s,there was austerity measure

You don minit 👀

Bayajjidda:


There they go again...
Let me answer your question. The car was not on sale during Jonathan's regime. And the price of that bread is around N200. Lets compare the price of what price of other things: eg. a bag Rice during Jonathan's regime is N7,000, today the price of a bag of rice is over N90,000

keep quiet oga u ain’t talking to a kid

That bread was 750 as at Jonathan regime cos I remember it’s my fathers favorite n anytime I enter shop rite I dey buy am for my dad in a steady

U guys should just calm down

oluztx:
The funny thing is most of the posters above commenting in disbelief are from southwest, same people that elected Buhari and Tinubbu that destroyed the country.

You don't need to go as far back as 1975, just go back to 2015. Dollar was then 195 naira now 1700 naira. 5-7 yr old used Toyota camry was 1.5-2 million, now 20-30 million.

How do you know they are from South West? Una bullshit is too much! Must you bring tribalism into everything?

Pauldollars:
What do you think of the value of the Naira?

This is a terrible comparison to make

Why compare price of two unrelated products instead of cost of bread in 1975 v now?

CluelessMODS:

Your dad must be earning big.

That was then. Pre-1982. Life was too good.
We started feeling the pinch from 1982. By 1986/87, the changes in our family finances for the worse became evident.

jazzman7711:
In 1975, minimum wage was like 80 naira a month, so that Peugeot you are looking at was beyond the reach of average Nigerians.

Back then things were hard, and food was costly, especially meat.

Back then we ate one or two small pieces of meat with the rice. Nothing like ‘assorted’ back then.

At a point it was even 75 Naira...kids plenty on this Nairaland.

In UK and US and major economies, you still can get cars for $1500 0r £1500. These are countries that refused to bow to the things we bow to in Nigeria, ethnic and religious sentiment in choosing our leaders.

The O.P lied. The price of that car then was 4k. Why do nigerians lie and exaggerate to make a point. It's childish

stagger:


That was then. Pre-1982. Life was too good.
We started feeling the pinch from 1982. By 1986/87, the changes in our family finances for the worse became evident.

Babangida added salt to injury when he started second tier foreign exchange market SFEM in 1985/1986