₦airaland Forum

In 1992, a plot of land in Banana Island sold for just ₦7 million. Today, that same plot is worth billions of naira!

Now, think about this—if someone had taken advantage of a flexible payment plan back then and bought just two plots, they would be sitting on a fortune today.

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In 1992, 99% of Nigerians couldn't afford 1 million naira. N500 was the average salary in Nigeria back then and lands in some parts of Lagos were sold for less than 20k.

1 dollar (USD) was equivalent to less than N10 in 1992, so N7m back then was over 700k USD, which is over N1 billion today.

In other words, 7 million naira was like billions back then, just to clarify.

Wishing you happy sales!

A brand new car was 200k in 1992. Your 7 million back then is worth billions today.

7 million naira is worth more than 1 billion as of today

The real question is: How many Nigerians can get 7M Naira in 1992?

Una just like to post rubbish…My dad bought a house for 15k in 1990 and here you are talking of 7m..Be like say you Dey madt..You think 7m na for common man!!..If time reach to kee person make una leave this blogger for me.

It's still very expensive. My dad was working with Nitel at that time and his salary was below 1000

Karlifate:
The real question is: How many Nigerians can get 7M Naira in 1992?

You dey mind them

Dzzzz:
Una just like to post rubbish…My dad bought a house for 15k in 1990 and here you are talking of 7m..Be like say you Dey madt..You think 7m na for common man!!..If time reach to kee person make una leave this blogger for me.

Take it easy with him... Na clown

santaclaws:
In 1992, 99% of Nigerians couldn't afford 1 million naira. N500 was the average salary in Nigeria back then and lands in some parts of Lagos were sold for less than 20k.

1 dollar (USD) was equivalent to less than N10 in 1992, so N7m back then was over 700k USD, which is over N1 billion today.

In other words, 7 million naira was like billions back then, just to clarify.

Wishing you happy sales!

Exactly. This is how they use over bloated wrong analysis to deceive people.

Helpout12345:
Exactly. This is how they use over bloated wrong analysis to deceive people.

That was my main reason for setting the records straight. Everyone alive in 1992 knew that having 100k back then was a huge amount of money and most of our parents earned a few hundreds monthly.

Love how the comment section cooked the op

Na Bloodas full this Cs.
Op was thoroughly cooked like a five star Michelin esque Kabsa

Ayobad22:
In 1992, a plot of land in Banana Island sold for just ₦7 million. Today, that same plot is worth billions of naira!

Contact information
WhatsApp/Call [09036501418] now to secure your plots!

The exchange rate in 1992 was 9.03 Naira to a dollar. That's $775k.
$775k is the equivalent of about 1.24B today.

7 Million Naira wasn't chicken change in 1992. When you want to analyse issues, do so with sense.

7m in 1992 is worth billions in todays money