₦airaland Forum

sisqodean09:
It's quite unfortunate this part of the world I found myself.
Person wey dey collect 500k/m cannot even afford a toks corolla 03 after a year

how much be 500k per month now


500k wey be like 50k

People shouldn't speak of things they have zero idea about.

The current approved lending rate by the Central Bank of Nigeria (CBN) is 27.50%, as of the most recent Monetary Policy Committee (MPC) meeting in May 2025. This rate has been maintained since then and is expected to be reviewed at the next MPC meeting in July.

The above statement has rendered the entire tweet useless!


Try again!

Many people remain in perpetual poverty under the guise of job security. That's is why a lot of smart people avoid civil service. Except you are a political appointee, elected official, or lucky to be absorbed into grade A agency

SLIDEwaxie:
na why you no fit spell millionaire. A professor earns more than ₦2M

No professor in Nigeria is earning up to 800K basic salary a month! If you have one drop the institution, we will tell you what they earn there.

One of the major hindrances to owning an affordable car in Nigeria is our excessively high import duties. You can spend up to 50% of car price, clearing the car. It's absurd.

That is why I keep telling you APC, PDP, separatists, ADC and company, that we need to vote for a government that will make industrializing nigeria its priority, and end government of subsides, freebies, and suchlike.

But you guys do not want to hear, na to chop money una wan do.

The world is now a global village they say. If your services are truly worth the big money you claim ithey are worth, offer it elsewhere and earn big.

Dhoneymix:
No professor in Nigeria is earning up to 800K basic salary a month! If you have one drop the institution, we will tell you what they earn there.

That's why most of them teach like 5 universities in a year. God Abeg. I can't live that kind of lifestyle. One job with an institution, 2 personal businesses running at the same time. As am building someone's business. I should be building mine.

sisqodean09:
It's quite unfortunate this part of the world I found myself.
Person wey dey collect 500k/m cannot even afford a toks corolla 03 after a year

That's what I keep talking about here. I really wonder how salary earners cope. You say 1 year..I say in 3 to 4 yrs sef e go hard. If he saves 50 percent of his 500k ( which is an impossibility) that will get him 3m a year...for Corolla 03 of 9m (22 years old vehicle wen fit be him age mate sef)

sherif4owo:
Misleading, professors earn over 500K. Even over a million.

The highest Professor Emeritus earns in Nigeria is 800k, most professors earns 600k as salaries.
I am privy to this because my late uncle was a prof.

In some countries professors or well educated people walk,ride bicycles or take public transports to work.On their free time,they walk or jog.There are too many vehicles on our roads.People must learn to walk than take cars at every outing.

Professors are only useful every 4 years in Nigeria when they are gathered and used as INEC returning officers.

After that, they go back to their universities to sit down and do nothing

Dhoneymix:
No professor in Nigeria is earning up to 800K basic salary a month! If you have one drop the institution, we will tell you what they earn there.

Do you mean only professors in government owned tertiary institutions? I'm just curious.

barika2011:
Buying a car is often a significant challenge for many Nigerian civil servants due to several factors. Firstly, their salaries are generally low compared to the rising cost of living and skyrocketing prices of vehicles, both new and fairly used. The recent devaluation of the naira and high inflation rates have further weakened purchasing power, making cars increasingly unaffordable. Secondly, civil servants frequently face delayed salary payments or deductions, disrupting financial planning and savings for major purchases like a car. Additionally, vehicle import duties and taxes in Nigeria are very high, adding substantial costs to car prices. Access to affordable credit facilities is limited, and interest rates on car loans are often prohibitive, discouraging civil servants from borrowing. Many civil servants also carry other financial responsibilities, such as supporting extended families, paying school fees, or handling medical expenses, leaving little disposable income for significant investments. Finally, poor public transportation infrastructure creates a high demand for personal vehicles, pushing prices further out of reach. Altogether, low earnings, economic instability, high vehicle costs, and financial burdens combine to make car ownership a difficult goal for Nigerian civil servants.

You've said it all dear friend. In summary, bad governance is the menace plaguing this nation. Let's join hands in purging them off our political space, come 2027.

Unfortunately, the last hope of the common man in person of buhari came and couldn't live up to expectations. We thought he'd replicate the war against indiscipline and the decorum his government had witnessed in the 80s in 2015 when he came back. From his performance,it became obvious that it was actually the late Tunde Idiagbon who was behind those amazing polices of buhari in the 80s.

No hope is lost bro. Please don't make a mistake of joining hands in bringing back this administration in 2027. Even those defending him are hungry and crying in silence.

viyon02:
A professor can not have 2m as salary, this means education alone can not make you a millioner. Too poor for a nation like Nigeria.

They earn more.

You don't need to expose your ignorance.

Mabuggi88:
At where please? I want to know.
I know a professor I was working with, he's a very senior professor, just retired recently. I managed his bank accounts when his brother was building a hotel. His brother was sending all money for the project in his account and each time his own salary drops I normally see it because I was the manager of the hotel while under construction, everything about that his salary account was with me both the ATm card and App pins. His salary was 610k the most sometimes it will come as 605k, a senior professor from a university in PH. Though there was another 115k that normally also comes just before days his drops, maybe allowance or so, I never asked because I don't have to.

Nigeria civil service is not it all.
Another of my brother who works With INEC and retired as a EO was earning 450k towards the end of his retirement

The bolded is so true. I have a cousin who is currently on level 13 with a Federal ministry, his take home is about 198k monthly. Level 13 is like the equivalent of an Assistant Commissioner of Police.

Mabuggi88:
At where please? I want to know.
I know a professor I was working with, he's a very senior professor, just retired recently. I managed his bank accounts when his brother was building a hotel. His brother was sending all money for the project in his account and each time his own salary drops I normally see it because I was the manager of the hotel while under construction, everything about that his salary account was with me both the ATm card and App pins. His salary was 610k the most sometimes it will come as 605k, a senior professor from a university in PH. Though there was another 115k that normally also comes just before days his drops, maybe allowance or so, I never asked because I don't have to.

Nigeria civil service is not it all.
Another of my brother who works With INEC and retired as a EO was earning 450k towards the end of his retirement

God bless you, you know the matters Wella. Nigeria civil service is nothing to write home about. I striving and working hard to avoid it. My late father was level 16 at federal 🤦

uniquetechng:
The highest Professor Emeritus earns in Nigeria is 800k, most professors earns 600k as salaries.
I am privy to this because my late uncle was a prof.

God bless you. Junior professors earn around 500k plus

specialmati:
a man emptied his bullion vans to grab power.no one is asking if he has refilled

Busted! A man exposed in the Pandora Papers scandal had state money hidden in his car boot. He also funneled public funds into a bank where he’s a stakeholder. Yet, some deluded followers have elevated him to messiah status. Blind loyalty knows no shame.

flexyrule:
People shouldn't speak of things they have zero idea about.

The current approved lending rate by the Central Bank of Nigeria (CBN) is 27.50%, as of the most recent Monetary Policy Committee (MPC) meeting in May 2025. This rate has been maintained since then and is expected to be reviewed at the next MPC meeting in July.

The above statement has rendered the entire tweet useless!


Try again!

You are wrong. Companies like CreditDirect Limited, a foremost finance company in Nigeria even recognised by the Federal Government's CreditCorp offers loan to civil servants at 4.5% monthly. Calculate this per annum. You don't need to take my word, just go and verify.

SLIDEwaxie:
na why you no fit spell millionaire. A professor earns more than ₦2M

A FG University Vice Chancellor hardly earned 1 million a month. A professor earns around 500k monthly

Anyone who can’t comfortably afford a car won’t be able to fuel and maintain it.

Only fueling will goops 60% salary. Oil change and other maintenance you likely cripple the finance.

So tell me why would anyone want to buy a car with loan in Nigeria?

Tendd:
In some countries professors or well educated people walk,drive bicycles or take public transports to work.On their free time,they walk or jog.There are too many vehicles on our roads.People must learn to walk than take cars at every outing.

But in our country today, fraudsters and even amateur yahoo boys are driving expensive cars at every outing.
Why then should well educated guys and professors ride bicycles, or come and be walking and jogging??
Please uncle, don't insist that their reward is still somewhere in heaven o .

TheChameleon:
It is a sad situation but i will also play devil's advocate....

Why can't Nigerian Professors have inventions, patents and discoveries like their peers in developed countries?

Malaria, no cure. Electricity, no fix. Must we wait for Whites to fix all our problems?

Oh, Government doesn't fund them well..... But we have seen billions looted by Government, Institutions and Individuals through TETFUND.

What did they do with what they received? A Science Parastatal went to Senate and listed Kilishi processing as their major achievement.

The blunt reality is that, we Africans can not see running abroad as the ONLY solution to our problems.

Japan and Germany were practically annihilated after World War 2 and they stayed back to fix their countries over time.

Sad that South Africa looks VERY different from most parts of Black Africa simply because the Whites only left direct power in 1994 (3 decades ago)

Fixing Africa is a collective responsibility. Why are Blacks at the very bottom? Whites, Yellows, Browns all see us as inferior to even their pets.

Am yet to understand why the gap, sometimes when I want to think it, I will feel like whites came to the Earth many years ago before Africans , like they first learnt from God ...am even getting confused the more here...

Amuluonyenaego:
Wickedness of politicians is the cause, do Dey really know what it takes to become a professor?

Isn't it the same professors they use in rigging elections? The corruption is endemic and no one is left out in the blame.

RillJ:
A bit misleading. 164% on the loaned amount is not true.
Interest is at reducing balance. So long the repayment is on schedule, it is easier to manage.

However, only a few Nigeria workers can sincerely afford a good car based on genuine wage and Professor no join that few. Its the sad reality.

You are wrong. I took a 36 month loan last year as a public servant. Interest rate per month was 5% and I took over 650k loan, my total repayment was put at a little above 2m....and I was paying more than 63k monthly.
Thankfully, I got a little breakthrough and was able to liquidate the loan in March this year.

It's not easy been a public servant in Nigeria o

Let's keep voting for the likes of Tinubu, don't worry we will soon buy latest cars 😆😆😆

Imagine an Engineer with 5 years experience cannot even afford to buy a car too 😆😂😂😂

AntiWailer:
They earn more.

You don't need to expose your ignorance.

Don't be stupid and learn. People who are in the system are telling you what is obtainable and you are arguing ignorantly.

TheChameleon:
It is a sad situation but i will also play devil's advocate....

Why can't Nigerian Professors have inventions, patents and discoveries like their peers in developed countries?

Malaria, no cure. Electricity, no fix. Must we wait for Whites to fix all our problems?

Oh, Government doesn't fund them well..... But we have seen billions looted by Government, Institutions and Individuals through TETFUND.

What did they do with what they received? A Science Parastatal went to Senate and listed Kilishi processing as their major achievement.

The blunt reality is that, we Africans can not see running abroad as the ONLY solution to our problems.

Japan and Germany were practically annihilated after World War 2 and they stayed back to fix their countries over time.

Sad that South Africa looks VERY different from most parts of Black Africa simply because the Whites only left direct power in 1994 (3 decades ago)

Fixing Africa is a collective responsibility. Why are Blacks at the very bottom? Whites, Yellows, Browns all see us as inferior to even their pets.

Thank you very much for this piece...
However kindly let us know your copy and paste source,thanks

tollyboy5:
How do one gets creative beyond his salary?

Seun Seun Seun

By being productive with his Professorship in an enterprising way.

Tendd:
In some countries professors or well educated people walk,drive bicycles or take public transports to work.On their free time,they walk or jog.There are too many vehicles on our roads.People must learn to walk than take cars at every outing.

At least, this is a matter of choice not a matter of affordability. Many professors walk in Nigeria because they cannot afford a car not because they choose to.