₦airaland Forum

lastmessenger:
And we still have apc die hard supporters

They will see the evil they supported before next year ending.

wildernessVoice:
#40,000 in 2015 is about #360,000 now

Nobody bothered to question his bold assertions, granted the drastic depreciation of the value of the Naira, no way N40k in 2015 equals N500k in 2024.

The onus lies on the claimant to show us evidence for his extraordinary claims.

They will keep on implementing harmful policies as long as they are immune from the consequences of their actions. While the purchasing power has decreased, they have multiplied their allowances. The relationship between Nigerians and politicians is parasitic.

It’s a lie. 40k naira in 2015 = 120-160K naira in 2024.

Usmanovic95:
That's why some people store their wealth in Dollars and other stable currency.Just imagine the 40k was saved in dollar back then in 2015,just imagine you are converting it back to naira in 2024. Insanely crazy figure

The purchasing power of that Crazy figure now will still be the same with that of 40k then or even less

franchasofficia:
The wickedness of the Yorubas is what kept Nigeria where it is today, how you may ask?


Northern Nigeria (Northwest and Northeast) are like ignorant babies, they don't know much, most of their political mistakes is as a result of ignorance, illiteracy and Islamic religious extremism which their few enlightened elites used to control their masses for political gains.


But Yorubas who are far more enlightened and exposed just like Igbos intentionally refused to support what is right and just for Nigeria to progress, they keep on seeing Nigeria as a battleground between them and Igbos, and for this, Yorubas have continued to play politics of spite and prejudice by intentionally aligning with failed Northern politicians like Buhari just so they can use the opportunity to align with the North to outsmart and outdo Igbos in national politics.


Just check this timeline and see what destroyed Nigeria:


Buhari removed Shagari and installed himself and Idiagbon a Yoruba man as vice.

They messed Nigeria up and IBB had to oust Buhari to take over.


IBB handed over to Shonekan a Yoruba man.

Abacha removed Shonekan and took over.

Abacha died and Nigeria returned to democracy in 1999, a Yoruba man Obasanjo with Atiku a Fulani man were elected to become President and Vice.

Obasanjo helped Yaradua a Fulani man to become President with Goodluck an Ijaw man as his Vice.

Yaradua died, Goodluck became President with Sambo a Fulani man as his Vice.

Yorubas ganged up with Hausa-Fulanis to push Goodluck an Ijaw man out of power promising to make Nigeria heaven on earth.


So Buhari a Fulani man with Osinbajo a Yoruba as Vice emerged.


They messed Nigeria up that Nigeria became a laughing stock to the whole world, insecurity became so unbearable.


If Yorubas were a just thinking tribe who have justice, equity, fairness and love in their heart, the right thing.they should have done was to join forces for once with Igbos to try an Igbo man Peter Obi as President so we can see the outcome but hell no, they painted this one time an Igbo man contested with massive Igbo support as a tribal war between Yoruba and Igbo


It is well.oh



Dear Yorubas, make una search una conscience oh, there are power beyond that controls this world, make una sha de careful, time changes a lot of things, time will tell

What you said is very correct. It’s same reason Bini people came to to support Esan in edo state to be governor. It’s about fairness and equity.

... So if you are not earning up to 500k per month, your "purchasing power" is less than 40k of 2015...

It makes sense (why everything is so difficult today).

This man must be an Igbo Man.

According to the Yorubas and some Hausas in Nairaland forum and in Nigeria

2015 bajaj motorcycle is 100k today is million and so the man is right

okito:
In 2015, it was 1$ to N250 so N40,000 was $160. Today, $160 is N240,000. So 40k in 2015 is 240k now. Contextually, 1 bag of cement in 2015 cost N2,000 so N40,000 would buy you 20 bags of cement in 2015. Today, a bag of cement is N12,000 and to buy the same 20 bags, you will need N240,000.
Thank you

1 bag of cement 2015 is 800 and 700 naira

Benwems:
It’s a lie. 40k naira in 2015 = 120-160K naira in 2024.

It is about 300k Naira today (still a shocker).

amoreobansu:
https://punchng.com/n40000-in-2015-equivalent-to-n500000-now-dagogo/

From Frying Pan to Volcano

ajabani4allah:
The purchasing power of that Crazy figure now will still be the same with that of 40k then or even less

Dollar Is a stable,it rarely lose its purchasing power.$40k of 2015 will still have almost the same purchasing power as $40k of 2024.

franchasofficia:
The wickedness of the Yorubas is what kept Nigeria where it is today, how you may ask?


Northern Nigeria (Northwest and Northeast) are like ignorant babies, they don't know much, most of their political mistakes is as a result of ignorance, illiteracy and Islamic religious extremism which their few enlightened elites used to control their masses for political gains.


But Yorubas who are far more enlightened and exposed just like Igbos intentionally refused to support what is right and just for Nigeria to progress, they keep on seeing Nigeria as a battleground between them and Igbos, and for this, Yorubas have continued to play politics of spite and prejudice by intentionally aligning with failed Northern politicians like Buhari just so they can use the opportunity to align with the North to outsmart and outdo Igbos in national politics.


Just check this timeline and see what destroyed Nigeria:


Buhari removed Shagari and installed himself and Idiagbon a Yoruba man as vice.

They messed Nigeria up and IBB had to oust Buhari to take over.


IBB handed over to Shonekan a Yoruba man.

Abacha removed Shonekan and took over.

Abacha died and Nigeria returned to democracy in 1999, a Yoruba man Obasanjo with Atiku a Fulani man were elected to become President and Vice.

Obasanjo helped Yaradua a Fulani man to become President with Goodluck an Ijaw man as his Vice.

Yaradua died, Goodluck became President with Sambo a Fulani man as his Vice.

Yorubas ganged up with Hausa-Fulanis to push Goodluck an Ijaw man out of power promising to make Nigeria heaven on earth.


So Buhari a Fulani man with Osinbajo a Yoruba as Vice emerged.


They messed Nigeria up that Nigeria became a laughing stock to the whole world, insecurity became so unbearable.


If Yorubas were a just thinking tribe who have justice, equity, fairness and love in their heart, the right thing.they should have done was to join forces for once with Igbos to try an Igbo man Peter Obi as President so we can see the outcome but hell no, they painted this one time an Igbo man contested with massive Igbo support as a tribal war between Yoruba and Igbo


It is well.oh



Dear Yorubas, make una search una conscience oh, there are power beyond that controls this world, make una sha de careful, time changes a lot of things, time will tell

Not all yorubas voted APC bro

Are you telling me only Igbo voted Obi in Lagos that made PO won Lagos in the last presidential elections?

We have millions of yoruba that are never APC fans.. fact!

okito:
In 2015, it was 1$ to N250 so N40,000 was $160. Today, $160 is N240,000. So 40k in 2015 is 240k now. Contextually, 1 bag of cement in 2015 cost N2,000 so N40,000 would buy you 20 bags of cement in 2015. Today, a bag of cement is N12,000 and to buy the same 20 bags, you will need N240,000.
Thank you

Thanks for your comment and for putting that into the right context, people never bother to think and question information being fed before they run along with false naration.

foreverme1225:
Those who supported Buhari and still supporting Tinubu are the reason the country is not moving forward

Who do you want me to support that yeye Atiku or that Gbajue Obi?

finallybusy:
It’s not this bad. He should stop lying.

It's not generally bad like that, but in some places like Lagos Island and Portharcourt, it is that bad.

If you would be honest with yourself and do an analysis of the purchasing power of the common man in Nigeria between 1990 to date, using common items, you would see that there was a steady improvement in purchasing power of the average Nigerian. So while things were not rosy, they were improving where it mattered most.

To help you, see a brief analysis below. You can do your own analysis. Everything shouldn't start & end with politics. No matter who is in power, the masses must collectively hold them to account else they continue to disregard us and misuse our commonwealth.

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

okito:
In 2015, it was 1$ to N250 so N40,000 was $160. Today, $160 is N240,000. So 40k in 2015 is 240k now. Contextually, 1 bag of cement in 2015 cost N2,000 so N40,000 would buy you 20 bags of cement in 2015. Today, a bag of cement is N12,000 and to buy the same 20 bags, you will need N240,000.
Thank you

But you know this is not the whole element present to estimate it? Okay let me use bags of rice to analyse. In 2015, a bag of rice is max. #10000 but now it is #80,000. That means #40,000 then is #320,000 now. If you use some other items to estimate, you might even get a higher value.

franchasofficia:
The wickedness of the Yorubas is what kept Nigeria where it is today, how you may ask?


Northern Nigeria (Northwest and Northeast) are like ignorant babies, they don't know much, most of their political mistakes is as a result of ignorance, illiteracy and Islamic religious extremism which their few enlightened elites used to control their masses for political gains.


But Yorubas who are far more enlightened and exposed just like Igbos intentionally refused to support what is right and just for Nigeria to progress, they keep on seeing Nigeria as a battleground between them and Igbos, and for this, Yorubas have continued to play politics of spite and prejudice by intentionally aligning with failed Northern politicians like Buhari just so they can use the opportunity to align with the North to outsmart and outdo Igbos in national politics.


Just check this timeline and see what destroyed Nigeria:


Buhari removed Shagari and installed himself and Idiagbon a Yoruba man as vice.

They messed Nigeria up and IBB had to oust Buhari to take over.


IBB handed over to Shonekan a Yoruba man.

Abacha removed Shonekan and took over.

Abacha died and Nigeria returned to democracy in 1999, a Yoruba man Obasanjo with Atiku a Fulani man were elected to become President and Vice.

Obasanjo helped Yaradua a Fulani man to become President with Goodluck an Ijaw man as his Vice.

Yaradua died, Goodluck became President with Sambo a Fulani man as his Vice.

Yorubas ganged up with Hausa-Fulanis to push Goodluck an Ijaw man out of power promising to make Nigeria heaven on earth.


So Buhari a Fulani man with Osinbajo a Yoruba as Vice emerged.


They messed Nigeria up that Nigeria became a laughing stock to the whole world, insecurity became so unbearable.


If Yorubas were a just thinking tribe who have justice, equity, fairness and love in their heart, the right thing.they should have done was to join forces for once with Igbos to try an Igbo man Peter Obi as President so we can see the outcome but hell no, they painted this one time an Igbo man contested with massive Igbo support as a tribal war between Yoruba and Igbo


It is well.oh



Dear Yorubas, make una search una conscience oh, there are power beyond that controls this world, make una sha de careful, time changes a lot of things, time will tell

this is an interesting take

Afonja007:
1 bag of cement 2015 is 800 and 700 naira

Thanks but I just checked my email now and I bought 1 bag of cement N2,100 in January 2016. This is the information available to me.

wildernessVoice:
#40,000 in 2015 is about #360,000 now

Not up to NGN360,000. It should be around 301,990 to 303,000. Cos the average exchange rate in 2015 was NGN198.0368 to a dollar.

Sapasenator:
Nobody bothered to question his bold assertions, granted the drastic depreciation of the value of the Naira, no way N40k in 2015 equals N500k in 2024.

The onus lies on the claimant to show us evidence for his extraordinary claims.

Tokunbo cars of #500,000 are now sold for 5 million naira. Do the maths.

psucc:
They promised us that more sacrifices are to be made before Nigeria go better.

3 years to go.

No more 16 years will be better.

BigDawsNet:
Not all yorubas voted APC bro

Are you telling me only Igbo voted Obi in Lagos that made PO won Lagos in the last presidential elections?

We have millions of yoruba that are never APC fans.. fact!

this is very true

amoreobansu:
https://punchng.com/n40000-in-2015-equivalent-to-n500000-now-dagogo/

too much exaggeration. Maybe he meant 400k

SoNature:
No, we should be looking at alternatives. Let's focus on building power infrastructure, improving electricity supply and making EVs. Many countries have formulated auto policies to phase out combustion engine cars. Nigeria can do the same.

Better still, motorists should use CNG cylinders in place petrol engines. We cannot continuously build our economy on petrol subsidy. It's not sustainable.

You're right my brother, but those countries are not at the brink of extinction as Nigerians are now, right now, we're on survival mode, only a filled stomach can think of development, a hungry man's problem is food and nothing else.

Kikikikikiki Tinubu the economy destroyer. People now buy u unhealthy tomatoes make stew. It shall not be well with Apc people.

APC's achievement within 9 years of their satanic leadership.

Absolutely SPOT ON💯💯💯📢📢📢📢
Apc sole destiny is to sink Nig beyond redemption 😎

That's the concept of "Time value of money" in Economics..

Those expecting workers to continue earning 30k as minimum wage in this present day and time should seek help cos they are heartless.

foreverme1225:
Those who supported Buhari and still supporting Tinubu are the reason the country is not moving forward

In 2015, a bag of rice was between 8500 and 9000, Buhari took over, the price doubled(19000) in 2016. Currently, the same bag of rice(local and imported) is selling between 65 - 90,000.