₦airaland Forum

Are you of the same age now as you were in 1989,if at all you were born as at then,all over the world you cannot get the same price as at then now

Op are you sure a bag of rice was actually #690 back then or you made a mistake?

Pathetic seeing people still defending this current evil govt and party.


Obi this and that is their only distraction source

AI Overview


In 1989, a bag of rice in Nigeria cost approximately N150. This is based on information from a social media post detailing the cost of a bag of rice at different periods, with 1989-1998 listed as N200 for the bag of rice, and other sources clarifying that the price was likely around N150 for that period......

It reminds me when ashawo was 100 naira. How times flies

Looks like thing are cheaper now than then o

I think the PDP years were when Nigeria really had it good. Teachers and lecturers started buying cars and building houses. Some that used to be impossible for them before.

It is well.

christejames:
Forget the past joys for now and join hands with ADC as we push out the thieves in Aso Rock that has made us to lose such enjoyment!

#RigAndDie

Rig and Roast should be the slogan of taking our country back to its prosperity and high employment productivity years with PDP deregulation and privatisation capitalists.

thisweekng:
The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.

He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.

He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.

“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.

“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Private sector to drive the economy

https://nairametrics.com/2023/09/01/the-last-time-nigerias-economy-was-stable-was-about-a-decade-ago-wale-edun/

When we say the military era was far better than this scam and deception we call a democracy, some clueless people will talk back at you.
Democracy is overrated.
Democracy is not met for us.
Democracy was imposed on us.
The military is still the best in economy and national security.

Dotherightthing:
Looks like thing are cheaper now than then o

Hmmmmn

Op made a mistake.
Google it and see.

I remember my mum used to see rice in the late 1980s and I remember very well she used to buy a bag for #90.

Tochi3:


..don't tell lies that will favour some people & their families..

..br careful with the lies..only you were living during this time..



..

1. Oga, I wish I was lying.

2. But I was around then. I am not lying

3. I am attaching one of the pictures there, so that you can read the writing above the table...

4. I was there. If you want to believe your truth, go ahead. But the fact I do not support this government...does not mean I have to lie about the past. I was there

5. That is how it has been since independence. Because all our leaders do not follow an industrial economy. When that happens most people suffer.

I no dey lie. Tinubu is a bad leader, but we do not have to lie about the past to make him even look bad. As I have said, we got to vote him out in 2027

nairalanda1:
This is how you know someone was not born back then

Times were hard back then. People grumbled about high prices. SAP was sapping us. Our take home salary could not take us home.

Yes, tinubu is bad. But let us not pretend 1980's was eldorado. Especially from 1982.

Go and sleep. The 80s are better than now economically. Yes there was economic recession and it was global. We got hit worse because of reliance on crude and even today we are still heavily reliant on same crude and besides the Naira had more value and more purchasing power but U are here forming ancient of days comparing the times when there's obviously no lessons learnt. Some of U are just terrible people

nairalanda1:
1. Oga, I wish I was lying.

2. But I was around then. I am not lying

3. I am attaching one of the pictures there, so that you can read the writing above the table...

4. I was there. If you want to believe your truth, go ahead. But the fact I do not support this government...does not mean I have to lie about the past. I was there

5. That is how it has been since independence. Because all our leaders do not follow an industrial economy. When that happens most people suffer.

I no dey lie. Tinubu is a bad leader, but we do not have to lie about the past to make him even look bad. As I have said, we got to vote him out in 2027

..stop lying once again..the iies & deceit that has been told since 2015..caused many people to stand on a mandate hoping that it will favour them..

..you are the only person alive during this time..no one knows better than you..

...what do you call the maladministration of APC?.;;:shit since 2015...?

.. the best in Africa.. ?

nairalanda1:
This is how you know someone was not born back then

Times were hard back then. People grumbled about high prices. SAP was sapping us. Our take home salary could not take us home.

Yes, tinubu is bad. But let us not pretend 1980's was eldorado. Especially from 1982.

Inflation started when the minimum wage was adjusted from 125 naira to 250 naira.
The structural adjustment programme didn't help matters.
Poverty was rampant but crime rate was low compared to what we have these days.
I was 5 yrs old in 1989 but told me everything.

ogaemma:
When we say the military era was far better than this scam and deception we call a democracy, some clueless people will talk back at you.
Democracy is overrated.
Democracy is not met for us.
Democracy was imposed on us.
The military is still the best in economy and national security.

Actually, read the article in the picture...the guy was complaining about prices increasing since the second republic.

Times have always been hard.

The problem with your analysis, is that you are assuming people earned 75000 naira as minimum wage then. They did not, minimum wage was between 125-250 back then

I attach the article..read paragraph 2 and 3

Democracy did not make anything worse. What is happening is simple. We run a resource dependent economy, so what we have is depreciation. When we start doing the hard wrokd for industrial economy, we won't be suffering like this.

Both army and democracy are to blame. Even if we bring back army tomorrow...unless they have a blueprint like General Park of South Korea, forget about improvement.

I did not say tinubu is good or he has done well, I never vote for am.

Godfullsam:
Inflation started when the minimum wage was adjusted from 125 naira to 250 naira.
The structural adjustment programme didn't help matters.
Poverty was rampant but crime rate was low compared to what we have these days.
I was 5 yrs old in 1989 but told me everything.

Not exactly.

The problem started at independence. We had two choices...either do the hard work of becoming an industrial power, or sell raw materials and run subsidy economy.

We chose subsidy economy based on revenue from raw materials.

The thing raised a lot of people, yes....but it also led to an unsustainable lifestyle. For some time when oil prices rose very high, we hid the cracks, but at the end, we went into debt to keep on living that unsustainable lifestlyle

The crash of the 1980's...started in 1982 with a fall in oil prices. BY 1984, things were bad. By 1986, we had to accept SAP otherwise things would have gooten worse. Of course, SAP is also just as bad.

We should have gone industrial right from the word go. Hardship for some generations yes, but by now, we would have been making and epxorting phones, cars, computers, furniture, laptops, etc etc...and been very rich.

Now imagine traveling back in time with 100k to buy foodstuffs and still come back with it to 2025!

Tochi3:


..stop lying once again..the iies & deceit that has been told since 2015..caused many people to stand on a mandate hoping that it will favour them..

..you are the only person alive during this time..no one knows better than you..

...what do you call the maladministration of APC?.;;:shit since 2015...?

.. the best in Africa.. ?

Okay, enjoy yourself.

I can lead a horse to water, but I cannot make it drink

May the star beer you drink inspire you to win a IgNobel prize and the tour de france five times. Amen.

dkidd:
Go and sleep. The 80s are better than now economically. Yes there was economic recession and it was global. We got hit worse because of reliance on crude and even today we are still heavily reliant on same crude and besides the Naira had more value and more purchasing power but U are here forming ancient of days comparing the times when there's obviously no lessons learnt. Some of U are just terrible people

I wish I was lying. Oga...you were not born back then. You don't know smack

Tinubu is a bad leader. I have said it here many times. But the 1980's...SAP, recession, protests, people struggling, etc...

Deindustrialization, loss of jobs, no jobs for students, japa syndrome, 419

It is because you have the idea that if we say that the 1980's were bad, therefore tinubu is good. As for me, I say the 1980's were bad, and tinubu is still a bad leader

Good afternoon, and mature some more.

1989 was a terrible time ooo, I remember clearly most people couldn't eat rice as staple food. It was eba/cassava powder/fufu and soybeans soup with dried cow skin, one lesser than pomo that saved the day then.

Mabuggi88:
Can you imagine, For the records,1989 was under military rule. The Chief of staff of whom is now seen as a devil by one particular section of the country. Now tell me, was their government not better than theirs now both former and present? The former even did extremely very well but the present himself who his followers demonize the regime of 1989 is a complete disaster.

Make I close my mouth first .

Meanwhile say no to military rule

nairalanda1:
Not exactly.

The problem started at independence. We had two choices...either do the hard work of becoming an industrial power, or sell raw materials and run subsidy economy.

We chose subsidy economy based on revenue from raw materials.

The thing raised a lot of people, yes....but it also led to an unsustainable lifestyle. For some time when oil prices rose very high, we hid the cracks, but at the end, we went into debt to keep on living that unsustainable lifestlyle

The crash of the 1980's...started in 1982 with a fall in oil prices. BY 1984, things were bad. By 1986, we had to accept SAP otherwise things would have gooten worse. Of course, SAP is also just as bad.

We should have gone industrial right from the word go. Hardship for some generations yes, but by now, we would have been making and epxorting phones, cars, computers, furniture, laptops, etc etc...and been very rich.

Everything boils down to leadership. He colonial masters who handed us independence did it prematurely.

They didn't properly prepare us to get used to industrial based economy. Our then ineffective leaders chose the easiest route - consumption economy.

This unhealthy economic lifestyle was passed down from one president to another until we became poor and had to rely on borrowing.

nairalanda1:
Times were not good back then, before people start.

Even at that time,it was very expensive. Here in middle east,those things are still cheaper than what they were sold then.

id4sho:
That's about $75 USD🤦. commodities are far more expensive than now🤷🏿

1989 $1 = N7.39 (N10.70 Black Market Rate)

It's 120k presently 🤯💩🤐

Stop comparing everything to the dollars. Rice sell less for $79 today if that’s what you are implying. Even in USA, 50kg average rice sell for less than $75.

In this context, you have to use naira to naira because they buy the rice with the naira. If they earn 250naira monthly, how could dey afford N600 bag of rice?

nairalanda1:
Read the article attacjed in the pictures...you go see how times were hard.

For Nigerians...the key word is survival

Times were hard. N1000 was a lot of money that back then most of us never saw. The highest denomination in 1989 was N20...there was no N50 or even N100 and above back then. N1 was offering.

Times were hard back then.

I don't know about 1989 but I witnessed the years before that. Life became really tough from 1986 SAP.

But before that, the period before 1989 that I witnessed in 9ja, we ran a pharmacy that sold some of the items listed in the survey. They were cheaper than the later 1989 prices though.

I would say people had fewer things to spend money on: No buying data, DSTV, Smartphones, phone subscription, etc. Life was more basic.

My memory is we used to buy a bag of rice, beans, garri and a gallon of oil. It was very affordable. The middle classes were more than now. A household with a teacher and a nurse would qualify as middle class back then. With a VW Beetle car and a Peugeot 504 in the family. It took less luxury to be a comfortable middle class.

Garri going for almost 200 in 1989 was quite expensive

nairalanda1:
Back then times were hard. People were doing japa back then well well.

0-1-0 was how people ate food in those days, and I am not joking.

Times were hard. Do not be decieved by those low prices.

In 1981, my parents bought a cow for 90 Naira. They could not afford the cow by themselves, so they paired up with another copule to pool money to buy the thing.

This us not true. I grew up in a single income family with my Dad as a junior lecturer then. Everything in bulk. Nothing like 010. We lived well. House paid for by university, fully furnished. I had comic subscription abroad, my teachers in a public school were European. Talk what you know.There was a true middle class then. Today can two people buy a cow that goes for a million plus? Let us kiss the truth

Treasure17:
Read bean 100kg 420? Wow. Your account balance will enter red to get 100kg now.

The minimum wage in 1989 is 250 naira per month while a bag of 100kg beans cost 420 naira

alabo1:
This us not true. I grew up in a single income family with my Dad as a junior lecturer then. Everything in bulk. Nothing like 010. We lived well. House paid for by university, fully furnished. I had comic subscription abroad, my teachers in a public school were European. Talk what you know.There was a true middle class then. Today can two people buy a cow that goes for a million plus? Let us kiss the truth

Yes bro, two people can buy it in present day Nigeria. I know a lot of person who are comfortably buying it without support from anybody.

Before the minimum wage was increased to 250 in 1989 by Babaginda, it was just 125 naira per month. There were Nigerians who couldn't afford to buy a cow and there were Nigerians that could comfortably buy it.

nairalanda1:
Actually, read the article in the picture...the guy was complaining about prices increasing since the second republic.

Times have always been hard.

The problem with your analysis, is that you are assuming people earned 75000 naira as minimum wage then. They did not, minimum wage was between 125-250 back then

I attach the article..read paragraph 2 and 3

Democracy did not make anything worse. What is happening is simple. We run a resource dependent economy, so what we have is depreciation. When we start doing the hard wrokd for industrial economy, we won't be suffering like this.

Both army and democracy are to blame. Even if we bring back army tomorrow...unless they have a blueprint like General Park of South Korea, forget about improvement.

I did not say tinubu is good or he has done well, I never vote for am.

Democracy has made everything to be worst. This expensive presidential system is what is killing Nigeria,we have to adopt a different system from this winner takes it all Democracy.

Nigeria was a pariah nation during Abacha dictatorship. Without western nations support and involvement in his regime,dollar was stabilised for 5years,forex reserve increased from 3billion dollars to 10billion dollars,massive road construction and modernisation of our railway network by inviting the Chinese to overhaul the whole system.29 years after Chinese are still modernising

Not a fan of Military rule but it is less expensive to run than what we have now.Those men in the supreme military council decides what is good for the nation immediately without going through debates in State and National Assemblies that mostly meet dead end after wasting time and tax payers money.

I don't vote and i no longer care who rules Nigeria. What i know is that politicians see this democracy as investment and want returns for their investment. That's why i prefer a one party state under a benevolent dictator for developing nations.

alabo1:
This us not true. I grew up in a single income family with my Dad as a junior lecturer then. Everything in bulk. Nothing like 010. We lived well. House paid for by university, fully furnished. I had comic subscription abroad, my teachers in a public school were European. Talk what you know.There was a true middle class then. Today can two people buy a cow that goes for a million plus? Let us kiss the truth

I lived well too, but that does not mean I was blind. I observed and heard things . And read

O ya compare it with UK and USA?? Oh
Compare it with African countries??

tommy589:
Democracy has made everything to be worst. This expensive presidential system is what is killing Nigeria,we have to adopt a different system from this winner takes it all Democracy.

Nigeria was a pariah nation during Abacha dictatorship. Without western nations support and involvement in his regime,dollar was stabilised for 5years,forex reserve increased from 3billion dollars to 10billion dollars,massive road construction and modernisation of our railway network by inviting the Chinese to overhaul the whole system.29 years after Chinese are still modernising

Not a fan of Military rule but it is less expensive to run than what we have now.Those men in the supreme military council decides what is good for the nation immediately without going through debates in State and National Assemblies that mostly meet dead end after wasting time and tax payers money.

I don't vote and i no longer care who rules Nigeria. What i know is that politicians see this democracy as investment and want returns for their investment. That's why i prefer a one party state under a benevolent dictator for developing nations.

The problem with army rule is the same problem with civillan rule. A resource based economy

And times were very hard under army rule. I wish I was lying, but I am not.

christejames:
Forget the past joys for now and join hands with ADC as we push out the thieves in Aso Rock that has made us to lose such enjoyment!


#RigAndDie

And how are you not sure there are thieves in the ADC? Pushing out corruption to bring in corruption: a vicious cycle.

We need a young leader, not old men who refuse to retire.