₦airaland Forum

Jagabanarmy:
right now, SA is the industrial power house of Africa..no competition but we can still over take SA if we revolutionize our industrial sector by subsidizing production

and you think this government can do it? dey play, these guys have no clue or love for this country it is only for themselves, they only bring deals that favor their pockets.

TOPMAN4LIFE:
What did Jonathan do better as a South South man.
Was he not pleasing the north that later dumped him during election

The common man fared better under GEJ and the records prove it.


Year 1990-1998
Av. Minimum wage (MW) N300

Item price
1. Rice N1000
3+ months salary to buy 1 bag

2. Beans N1500 5 months salary to buy 1 bag

3. Cooking gas NA No reliable records

4. Flour N190 1 month salary gets 1+ bag

5. PMS N11 1 month salary gets 27l

6. Diesel N12 1 month salary gets 25l

7. Cement N120 1 month salary = 2 bags+

8. Basket of tomatoes N200 1 month salary =1+ basket

9. Beef N50 1 month salary = 6kg
Year 1999-2010
Av. Minimum wage (MW) N7000

Item price qty of MW
1. Rice N6000 1month salary = 1+ bag

2. Beans N7000 1month salary to buy 1 bag

3. Cooking gas N200 1 month salary = 35kg

4. Flour N4500 1 month salary gets 1+ bag

5. PMS N65 1 month salary gets 107ltrs

6. Diesel N150 1 month salary gets 46ltrs

7. Cement N1500 1 month salary = 4+ bags

8. Basket of tomatoes N2500 1 month salary =2+ baskets

9. Beef 250 1 month salary= 28kg


Year 2011-2014
Av. Minimum wage (MW) N18000

Item price qty of MW
1. Rice N8000 1 month salary to buy 2+bags

2. Beans N15000 1month salary to buy 1+ bag

3. Cooking gas N400 1 month salary = 45kg

4. Flour N6000 1 month salary gets 3 bags

5. PMS N90 1 month salary gets 200ltrs

6. Diesel N300 1 month salary gets 60ltrs

7. Cement N200 1 month salary = 9 bags

8. Basket of tomatoes N7500 1 month salary =2+ baskets

9. Beef 500 1 month salary = 36kg


Year 2015 to date
Av. Minimum wage (MW) N30,000

Item price qty of MW
1. Rice N70000 2+ months salary to buy 1 bag

2. Beans N100000 3+ months salary to buy 1 bag

3. Cooking gas N1300 1 month salary = 23kg

4. Flour N60000 2+ months salary gets 1bag

5. PMS N600 1 month salary gets 50ltrs

6. Diesel N1300 1 month salary gets 23ltrs

7. Cement N10000 1 month salary = 3 bags

8. Basket of tomatoes N58000 2 months salary =1+ basket

9. Beef N5000 1 month salary = 6kg

Kelvinofficial:
Who still takes the IMF and the WB serious anyway ?

This government does, The CBN governor and Finance minister were at Washington at the behest of IMF and WB.

Image123:
What did you expect with the float of the naira and the use of the dollar to base GDP. Let school pass through you na.

so GDP should be based in Naira!!! Bros change your handler abeg that thing you are smoking is clouding your reasoning.

IPIGSRSHALLOW:
When it's revised upward, you and yours will come here to claim that they have been paid to change it. You people don't read the fine print.
This was only due to the high foreign exchange rate, now that the numbers have gone down, it's no longer applicable.
Sorry, that's too much for your type to comprehend. My bad...

it was never due to FX rates. There is insecurity and FDI is at an all time low. Haaa fear God and stop spreading lies

Tinubu is yet to get the country right , I think it because it been long he tasted his Drug , perhaps how can a old man like him be doing as a man that stole mandate and feel comfortable on it

ivandragon:
Outside all the grammar, below clearly shows how bad things have become for the common man...

Putting the dire economic situation of Nigeria in perspective.


Year 1990-1998
Av. Minimum wage (MW) N300

Item price
1. Rice N1000
3+ months salary to buy 1 bag

2. Beans N1500 5 months salary to buy 1 bag

3. Cooking gas NA No reliable records

4. Flour N190 1 month salary gets 1+ bag

5. PMS N11 1 month salary gets 27l

6. Diesel N12 1 month salary gets 25l

7. Cement N120 1 month salary = 2 bags+

8. Basket of tomatoes N200 1 month salary =1+ basket

9. Beef N50 1 month salary = 6kg
Year 1999-2010
Av. Minimum wage (MW) N7000

Item price qty of MW
1. Rice N6000 1month salary = 1+ bag

2. Beans N7000 1month salary to buy 1 bag

3. Cooking gas N200 1 month salary = 35kg

4. Flour N4500 1 month salary gets 1+ bag

5. PMS N65 1 month salary gets 107ltrs

6. Diesel N150 1 month salary gets 46ltrs

7. Cement N1500 1 month salary = 4+ bags

8. Basket of tomatoes N2500 1 month salary =2+ baskets

9. Beef 250 1 month salary= 28kg


Year 2011-2014
Av. Minimum wage (MW) N18000

Item price qty of MW
1. Rice N8000 1 month salary to buy 2+bags

2. Beans N15000 1month salary to buy 1+ bag

3. Cooking gas N400 1 month salary = 45kg

4. Flour N6000 1 month salary gets 3 bags

5. PMS N90 1 month salary gets 200ltrs

6. Diesel N300 1 month salary gets 60ltrs

7. Cement N200 1 month salary = 9 bags

8. Basket of tomatoes N7500 1 month salary =2+ baskets

9. Beef 500 1 month salary = 36kg


Year 2015 to date
Av. Minimum wage (MW) N30,000

Item price qty of MW
1. Rice N70000 2+ months salary to buy 1 bag

2. Beans N100000 3+ months salary to buy 1 bag

3. Cooking gas N1300 1 month salary = 23kg

4. Flour N60000 2+ months salary gets 1bag

5. PMS N600 1 month salary gets 50ltrs

6. Diesel N1300 1 month salary gets 23ltrs

7. Cement N10000 1 month salary = 3 bags

8. Basket of tomatoes N58000 2 months salary =1+ basket

9. Beef N5000 1 month salary = 6kg

Why group 2015 down to 2024?

Why did you seperate 2011-2014 from 1999-2011?

Chukwuka319:
Lol! And things are worse for you in Nigeria.
Stupid Ofeke!
It's you and your useless generation that are Ofeke.
Animal,why is my personal opinion getting to your skin?

Bro the moment you aired your opinion on a debatable issue, you lose the right to make it sacrosanct, so anyone can challenge your opinion.

Timothy89:
SS was the cbn gov, the one controlling the economy of the country, where did he land us?


Let Igbo rule, who will rep Igbo among those incompetent dummies y'all voted for? Umahi tried in infrastructure, how did he make impact in human capital capacity?


You think economic balancing as anything to do with tribe and religion. Tinubu knows the problem ahead and believe me he won't leave without redressing the economic abnormalcy

Oga just shut up abeg. Like he is doing now, that our indices economically is all shades of wrong.

Procashtips:
Why group 2015 down to 2024?

Why did you seperate 2011-2014 from 1999-2011?

To show growth/deterioration of the common man's purchasing power viz-a-viz the minimum wage changes.

Who go find hiding place for giant o. Two hundred million people decided to victimize themself. 200M people with instinct a little above that of Animal.

TOPMAN4LIFE:
There is no govt in Nigeria that people have not
complained, just google what happened during his regime.
The major thing that is affecting economy presently is because of subsidy removal which Jonathan also attempted
If Jonathan was able to remove it then, price of goods and services would have gone up too

If they had allowed Jonathan then, by now things would have been better.

anonimi:
Jonathan did well on the economy.
He was better by far than the two presidents before him and the two after him on this area.

When it comes to improving the purchasing power of the common man, GEJ was the best since the 90s. The records speak for themselves.


Year 1990-1998
Av. Minimum wage (MW) N300

Item price
1. Rice N1000
3+ months salary to buy 1 bag

2. Beans N1500 5 months salary to buy 1 bag

3. Cooking gas NA No reliable records

4. Flour N190 1 month salary gets 1+ bag

5. PMS N11 1 month salary gets 27l

6. Diesel N12 1 month salary gets 25l

7. Cement N120 1 month salary = 2 bags+

8. Basket of tomatoes N200 1 month salary =1+ basket

9. Beef N50 1 month salary = 6kg
Year 1999-2010
Av. Minimum wage (MW) N7000

Item price qty of MW
1. Rice N6000 1month salary = 1+ bag

2. Beans N7000 1month salary to buy 1 bag

3. Cooking gas N200 1 month salary = 35kg

4. Flour N4500 1 month salary gets 1+ bag

5. PMS N65 1 month salary gets 107ltrs

6. Diesel N150 1 month salary gets 46ltrs

7. Cement N1500 1 month salary = 4+ bags

8. Basket of tomatoes N2500 1 month salary =2+ baskets

9. Beef 250 1 month salary= 28kg


Year 2011-2014
Av. Minimum wage (MW) N18000

Item price qty of MW
1. Rice N8000 1 month salary to buy 2+bags

2. Beans N15000 1month salary to buy 1+ bag

3. Cooking gas N400 1 month salary = 45kg

4. Flour N6000 1 month salary gets 3 bags

5. PMS N90 1 month salary gets 200ltrs

6. Diesel N300 1 month salary gets 60ltrs

7. Cement N200 1 month salary = 9 bags

8. Basket of tomatoes N7500 1 month salary =2+ baskets

9. Beef 500 1 month salary = 36kg


Year 2015 to date
Av. Minimum wage (MW) N30,000

Item price qty of MW
1. Rice N70000 2+ months salary to buy 1 bag

2. Beans N100000 3+ months salary to buy 1 bag

3. Cooking gas N1300 1 month salary = 23kg

4. Flour N60000 2+ months salary gets 1bag

5. PMS N600 1 month salary gets 50ltrs

6. Diesel N1300 1 month salary gets 23ltrs

7. Cement N10000 1 month salary = 3 bags

8. Basket of tomatoes N58000 2 months salary =1+ basket

9. Beef N5000 1 month salary = 6kg

IMF and World Bank is still one of our biggest problem in Nigeria. Nigeria must fight to save ourselves as great nation from them.

Believeintruth:
Oga just shut up abeg. Like he is doing now, that our indices economically is all shades of wrong.

Your SS And SE messiah won't do wonders with the reckleness of your son SS man mismanagement and gross embezzlement

Believeintruth:
so GDP should be based in Naira!!! Bros change your handler abeg that thing you are smoking is clouding your reasoning.

Yes my dear boy, GDP is measured in the currency of the country in question. It is only changed if you want to compare with another country. Of course, only miscreants and mischief makers will compare with another country when a country just deliberately floated its currency.

Believeintruth:
it was never due to FX rates. There is insecurity and FDI is at an all time low. Haaa fear God and stop spreading lies

This is due to the FX rates. It has been discussed by economic experts many times over the week at several financial and economic shows. Listen to the experts, not some political jobbers. try and listen to people who know what they are talking about not some people trying to score political points.
How is the size of an economy calculated anyway?

The size of an economy is usually measured by its gross domestic product (GDP). GDP is the monetary value of all final goods and services produced in a country over a given period. It's a widely used indicator of the health of national and global economies.

That has not changed in Nigeria, what has changed is the forex rate when you try to convert the value to US Dollars.
Now that the Naira has gained strength, I'm 100 percent sure that Nigeria is still the biggest economy in Africa.

keep dreaming

IPIGSRSHALLOW:
This is due to the FX rates. It has been discussed by economic experts many times over the week at several financial and economic shows. Listen to the experts, not some political jobbers. try and listen to people who know what they are talking about not some people trying to score political points.
How is the size of an economy calculated anyway?

The size of an economy is usually measured by its gross domestic product (GDP). GDP is the monetary value of all final goods and services produced in a country over a given period. It's a widely used indicator of the health of national and global economies.

That has not changed in Nigeria, what has changed is the forex rate when you try to convert the value to US Dollars.
Now that the Naira has gained strength, I'm 100 percent sure that Nigeria is still the biggest economy in Africa.

ivandragon:
The post is self explanatory.

First of all, I relied mainly on end period priced over a given period so it matches with the minimum wage. As at 97/98, fuel was N11.

It shows that between 1999 and 2014, there was significant economic development that directly impacted on the common man. From 2015, things have taken a nosedive.

It also sets the standard for what apc should be aiming for. Not audio projects that have no positive impact on the common man.

It also aims to lay to rest the position of some apc apologist who, when the government is questioned about the hardship and price rises, also ask how much the PDP met prices. Though prices increased under PDP, so did purchasing power.

I fully concur with you.
I mistakenly thought you meant purchasing power is better now than it was before 2015.

Believeintruth:
Bro the moment you aired your opinion on a debatable issue, you lose the right to make it sacrosanct, so anyone can challenge your opinion.

But does it warrant insults?

Believeintruth:
seriously what did you smoke? The same IMF brought CBN and ministry of Finance to Washington, and you are here saying he ignored them.

Seriously what strain of Rabies are you suffering from?
No offense!

Asmmi:
Let's keep believing. Nigeria will be Great again

Pack well jare

Disastrous Government. The worst in the history of Nigeria.

ivandragon:
To show growth/deterioration of the common man's purchasing power viz-a-viz the minimum wage changes.

.
It's an unfair act. 2015-2019 was relatively better than 2019-2013, and so far so good, both of the above better than 2023 to present.

Secondly, there has been a huge difference between 2015 and 2023.

Lastly, foodstuffs and consumer goods pre-2023 are well off compared to post 2023.

So grouping them together is unfair practice since you seperated 2007-2010 from 2011-2014. (Huge growth/deterioration can be pointed out here too vis-a-vis purchasing power and minimum wage)

Believeintruth:
If they had allowed Jonathan then, by now things would have been better.

I agreed, It's a dirty politics that is still going on till today
With time, things will still get better too

Chai from first to fourth hmmm may God help us

Asmmi:
And that's why we have to believe in the Government.

^^^


The road to ruin.

EmeeNaka:
APC from top to bottom.
Unfortunately, if Nigeria return to second position afterwards, the criminals will list it as a great achievement.

oga second too far, if tinu u even succeeds in pushing it to 3rd place, the miscreants who support him will tell u it is one of tbe wonders of the world.

Chukwuka319:
Lol! IMF run by parasitic White Pigs are still miffed that BAT ignored their Luciferic economic advice on the pump price of petrol and other economic aspects.
Nigeria will continually ignore your demonic advices.
Ndi Ala!
You can project all you want.
Nigeria must surely be better.

oga sbut ur fucking pie bole there, unfortunately there are too many miscreants like u in this country, that is y this country is struggling to move forward.

PureFace1:
How is having the largest economy in Africa benefits Nigeria ?

Nigeria is still very poor and one of the poorest and the FDI into Nigeria for a while now has been very low.

Ironically you people are always quick to celebrate any negative news about Nigeria and will be the first to dismiss any positives news and term it propaganda.

I believe very soon Nigeria should be one of the fastest growing economy in Africa and the world by next year.

fastest growing ke? where is the growth going to come from? which production centers are under development that will drive this growth, even agriculture that used to be an important growth sector bas gone comatose due to herdsmen and bandits

YourGFsnatcher:
The sams idiots that said we should increase electricity tariff. IMF is evil. They only work for the west

but ur leaders followed the advice and increased electricity tariff.

naturalman:
See what Yoruba and hausa people don cause........allow SS or SE to rule , them no go hear..... leadership is not a game of number but a game of wisdom

But for people not to have ever rule prove that you all lack wisdom and common sense.
Tueh