₦airaland Forum

tempex88:
It is small, too small but not bad for a start.
Rent would take 100 to 200k monthly
Same with transportation
Nothing significant left to eat and develop oneself

Yes, I belive important information is missing such as;
Working from home or not
If not working from home, transportation and accommodation comes in. So truly, that money ain't great if it's not a remote Job. And trust Nigeria employers, they will make sure that 550k alone will just be enough for transportation, accommodation, and feeding.

All the people way they convert am to Dollars are Mad, any small thing it this in the US it that in the UK are they earning it in the UK or US

Habbeyy:
why did you convert it to dollar?

Englishisamust:
I have this my friend. He is a single tech guy. Just got a job of 550k per month. The guy was like the money no freak he dey too small.. Omo I won first slap aam say make I tell am how many people that are collecting below that amount as salary.. I just dey envy the guy... I wish I can be like him.. . Omo tech guys dey make moneyooo!!!

Please slap him na...an average Nigerian is greedy and wants quick and huge money.

Vision101:
My own Nigeria is not finished ooo. Maybe another person's.

continue pushing your head in the sand. It is one of hallmarks of agbadorians.

It doesn’t change the reality on ground.

If Nigeria wasn’t finished we would not be debating if N500k is big money or not.

wazobeer:
Wirklich? Wo hast du Deutsch gelernt und wie lange sprichst du Deutsch? 😊

I don't speak this particular dialect

QuinQ:
I don't speak this particular dialect

You're a clown 😂

It's not really a bad salary.we have to consider some factors.Does he smoke and drink everyday?does he carry os?does he gamble?how much does pay per annum for rent?does he have dependants?if he does all the above then the salary is small.

QuinQ:
Why not first ask him what he has achieved with the money, besides paying rent and barely keeping his head above water? How many apartment complexes does he own?

Do I need to ask all that?

daveP:
So sad that it's our reality here in Nigeria Edu-sector. Prof suppose start from 1m normally. In a country where those with 500k in their aza is not up to 1% the population, terrible standards and cost of living.... It should be much better even if it seems affordable.

About 90% of the under-40 age grade dont have thrice their rent in their aza. Compared to North African countries like Morocco and Egypt.

Those parents are feeding from air to mouth to make their kids shielded. No many succeed at shielding. Away from the salaries.

See how they drag 77k before it got paid. 15k jobs still plenty in this country.

All these realities will make 500k truly large no doubt.

Speaking of money in aza, see Almighty America below

Seriously?

N550,000 * 12 = N6.6m

N6.6m * 6 years = N39,600,000m

Are you saying a tokunbo vehicle costs at least N39,600,000m?

Like I know people lie, but this your lie is so unintelligent.

mightyhaze:
Will still take him like 6 years of saving his entire salary to be able to afford a 16 yr old tokunbo vehicle..


Very bad

Trossard:
Do I need to ask all that?

Yes. Otherwise you'd comparing apples and akara.
If you make $4K a month (high salary), and govt takes 1K in taxes, your rent and utilities is 2.5K. You have $500 left for food, transportation, and everything else. By end of month you are BROKE!

Acidosis:
Although Nigeria is in a bad shape, 550k is still great. More important is that we all have to live within our means. The value of money lies in how wisely you use it to meet your needs and achieve your goals. The figure is secondary.

E.g., a good pair of shoes (not necessarily a branded original) typically starts at around 70k in Idumota. But, you can still get a good quality, custom-made pair from a local shoemaker in your neighborhood for half the price. Again, the value of money lies in your hands.

Before you spend 20k eating out at one sitting as a single guy, think about paying a caterer to cook same food for you in your house. You will get more quantity (large enough to store), better taste, more value for your money, and better hygiene. Again, the value of money lies in your hands.

If he is prudent, he could save half of the money! Done over 3 years, he would have saved over 5m

QuinQ:
Well, 550K is about $400
Very good but not great

/

How many people do you think are making N200k/month in Nigeria?

Minimum wage is still N70k/month.

Wetin concern US$ with his salary in Nigeria?

Nigerian budget in 2025 is $36 billion. The 2025 budget of Los Angeles county (equivalent of L.G.A ) in California is $48 billion. So much for African giant!
/

femi4:
That's £275. Not really great

What is the eseense of your conversion?.. Do you think a £1500 salary in the UK makes any difference in the UK?

InvertedHammer:
/

How many people do you think are making N200k/month in Nigeria?

Minimum wage is still N70k/month.

Wetin concern US$ with his salary in Nigeria?

Nigerian budget in 2025 is $36 billion. The 2025 budget of Los Angeles county (equivalent of L.G.A ) in California is $48 billion. So much for African giant!
/

Well, not everybody on the platform is in Nigeria. It's for their benefit

QuinQ:
Yes. Otherwise you'd comparing apples and akara.
If you make $4K a month (high salary), and govt takes 1K in taxes, your rent and utilities is 2.5K. You have $500 left for food, transportation, and everything else. By end of month you are BROKE!

Wow.. I like your intelligent analyses. You're actually correct in fact. But to me, I feel it's disrespectful to ask him such question, I feel it's a personal thing and I don't have to know what he does with his earnings.
If u can, may u assist my children?
They have nothing to eat

femi4:
That's £275. Not really great

na uk e dey?

Trossard:
Wow.. I like your intelligent analyses. You're actually correct in fact. But to me, I feel it's disrespectful to ask him such question, I feel it's a personal thing and I don't have to know what he does with his earnings.
If u can, may u assist my children?
They have nothing to eat

Thanks 4 the compliment. I like to think I'm a quite intelligent girl. Sorry I don't have direct access to liquid cash

Vision101:
Conversion is the latest 🤣 craze in Nigeria. Mention any amount then they will convert. There's an award for it. Next statement is "Nigeria is finished"

tinubu people like to say this

Bluffly:
What is the eseense of your conversion?.. Do you think a £1500 salary in the UK makes any difference in the UK?

Ki lomode e mo

QuinQ:
Thanks 4 the compliment. I like to think I'm a quite intelligent girl. Sorry I don't have direct access to liquid cash

You can still help if you actually wanted to . But it's fine

Mariangeles:
Yinmu!

Argue with the facts

crossbreedwears:
Are we in the UK? 550k is big in nigeria oga

For IT job, that's peanut

femi4:
That's £275. Not really great

What do you mean by £275?
He's in Nigeria living here and spending Naira.
Is he going to buy Garry and beans with £ UK?
You people should carry your UK wahala and get out.
Your UK expenditure is finishing your head there in UK, you now want to come and compare that with Nigeria.
Our Nigeria earnings matches with our Nigerian expenditures.
Leave Nigeria for us.

Habbeyy:
why did you convert it to dollar?

i tire for the MF 550K na 6.6M,

QuinQ:
Speaking of money in aza, see Almighty America below

Theirs is better

We have 133m will no hope of seeing 1k the next day. Multidimensionally poor. USA still got lots of govt policies that can assist these kind of families. Definitely not Nigeria. Which is why i hate all the side picking. Wasting loyalty and solidarity for what's never changing.

How i take dey survive with 65k monthly i no know. I still dey do 10k monthly savings inside. It can only get better 🙏

femi4:
For IT job, that's peanut

That's why he is comfortable living with it here in Nigeria .
Nonsense.
Minimum wage in Nigeria is N70,000
People are earning it and are not dead.
Minimum wage in UK is roughly £11 per hr. Or say £2000 a month.
Convert to Naira. N3,600,000.
And you will still FINISH all of it in UK and be begging for overtime. Because you are locked down and tied to spending that money in UK.
Abeg leave the guy and his N550k. He's doing much better than many of you overseas.
Small earnings,
Small expenses.

janeedema:
Seriously?

N550,000 * 12 = N6.6m

N6.6m * 6 years = N39,600,000m

Are you saying a tokunbo vehicle costs at least N39,600,000m?

Like I know people lie, but this your lie is so unintelligent.

Lol. No mind am guess he's referring to toks MBenz 2019 c300

uuzba:
That's why he is comfortable living with it here in Nigeria .
Nonsense.
Minimum wage in Nigeria is N70,000
People are earning it and are not dead.
Minimum wage in UK is roughly £11 per he. Or say £2000 a month.
Convert to Naira. N3,600,000.
And you will still FINISH all of it in UK and be begging for overtime. Because you are locked down and tied to spending that money in UK.
Abeg leave the guy and his N550k. He's doing much better than many of you overseas.
Small earnings,
Small expenses.

Hmm 😳

Cj4charles:
500k is no longer 500k three years ago.. that's the the level of damage Tinubu has done to this country

By current prices of commodities in the market, that's about 150k under Buhari and much lower than 150k under Jonathan