₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense - Business (2)

₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense - Business (2) - Nairaland

Nairaland Forum › Nairaland General › Business › ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense (17210 Views)

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Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by CodeTemplarr: 8:37am On Aug 09, 2025

Yet idle civil servants prefer to keep collecting free money money than to flow with the tide.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by YesDaddyTill203: 8:37am On Aug 09, 2025

This is a worldwide phenomenon; what we used to buy in 2006 compared to now is vastly different, even with the best currency in the world.
In 2006, with 100 dollars, I could almost fill my shopping cart; now 100 dollars doesn't buy much.
I'm talking about the US economy, which is considered to be the best in the world.
Food is so expensive now in the US that almost everyone is feeling the effects. Grocery prices are going through the roof.

1 Like 1 Share

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Kennitrust(m): 8:37am On Aug 09, 2025

Putinofrussia:
So also is 100k in 2006 cannot buy what 8k can buy in 1987.

In1990, a 50k bag of rice cost N350.

In 2006, a 50kg bag of rice in Nigeria cost ₦6,000.

In 2025,a 50k bag of rice cost N70,000.
Let us do the maths.

6000 divided by 350 gives ~ 17.

70,000 divided by 6000 gives ~ 11.6= 12(approx)

Comparing the two with the space of 16 and 19 years,Tinubu has done better because price went up 17 times in 1990 (space of 16 years to 2006) even with the fraudulent Fuel Subsidy.

In 2025,with the removal of the fraudulent Fuel Subsidy,price only went up approximately,12 times (and things are still coming down exponentially, we pray)

Kudos to President Tinubu for having gotten the gut to make these hard decisions that brings prosperity to Nigerians soonest..

you dey crazy 😧😧

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by olukaygold(m): 8:38am On Aug 09, 2025

The statistic is absolutely right. There are some goods that doesn't even attract price then compare to now

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by CodeTemplarr: 8:38am On Aug 09, 2025

YesDaddyTill203:
This is a world wide phenomemon, what we used to buy in the 2006 comared t now is vastly difftent even with the best currency in the world.

Yes, worldwide but more severe in Africa and Nigeria in particular.

4 Likes

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Lucas4903: 8:39am On Aug 09, 2025

EyeCumInPiss:
So salaries and incomes have increased in same proportion.

Be like say na Indomie full your brain.

You still don’t make sense. To shaaa paint a picture of gloom dey sweet you. Statistics wey no make sense dey make u happy just because u refuse to think n do the maths for yourself.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Dogalmighty17: 8:39am On Aug 09, 2025

I bought a 50kg bag of foreign rice for a friend's wedding for 6k then. Can I try such a thing now?

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Emmy000seun(m): 8:39am On Aug 09, 2025

Lol...the brain you use type this, abeg no use ham cross Lagos road ooo, danfo, Keke and even Uber guys self no get joy ooo..😂😂😂.. because you go explain explain tire...go bring your evidence now..oga 1908..those time you are referring to is gone and gone for good, even people that are younger then are now aged..what is happening during your time that matter most,. ..the op is still right comparing 2006 to 2025 because it's still in 20's..but u bringing 19's in this is out of points...APC is a plague to Nigeria populace d early you know this d better for you..

Putinofrussia:
So also is 100k in 2006 cannot buy what 8k can buy in 1987.

In1990, a 50k bag of rice cost N350.

In 2006, a 50kg bag of rice in Nigeria cost ₦6,000.

In 2025,a 50k bag of rice cost N70,000.
Let us do the maths.

6000 divided by 350 gives ~ 17.

70,000 divided by 6000 gives ~ 11.6= 12(approx)

Comparing the two with the space of 16 and 19 years,Tinubu has done better because price went up 17 times in 1990 (space of 16 years to 2006) even with the fraudulent Fuel Subsidy.

In 2025,with the removal of the fraudulent Fuel Subsidy,price only went up approximately,12 times (and things are still coming down exponentially, we pray)

Kudos to President Tinubu for having gotten the gut to make these hard decisions that brings prosperity to Nigerians soonest..

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Lucas4903: 8:40am On Aug 09, 2025

CodeTemplarr:
Yes, worldwide but more severe in Africa and Nigeria in particular.

You don’t know what u are saying. You must think it doesn’t rain everywhere.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Kay17: 8:40am On Aug 09, 2025

kettykin:
This is becoming very serious, in a space of 10 years , Nigeria's economy has been gutted by a single individual and his warped economic views

Economics and history may have to be compulsory subjects alongside maths and English language.

Tinubu didn’t bring down the Nigerian economy. The responsibility is largely with Goodluck and Buhari and Nigerian government’s overdependence oil revenue. We didn’t save in surplus times and when the hard times came we borrowed and didn’t cut down expenses. Fuel subsidy was a bad idea. All that money should have been invested in something tangible.

Let’s not pretend that the country was in a very good place financially before Tinubu came. It is time Nigerian politics be discussed in an intelligent fashion.

One of my many problems with political parties in Nigeria is the absence of an ideological based party which has a consistent and credible vision for the country. Even if it is restructuring in a federal way, there should be a party of diehard Federalists which all Federalists can relate with.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by SocialJustice: 8:40am On Aug 09, 2025

helinues:
I guess your company is still paying the same salary

Some people would be sounding as if price of goods and services remain same globally for years

It does, most sensible economies do under 4% inflation annually while Nigeria does about 40%.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by SmartPolician: 8:40am On Aug 09, 2025

2006 is a long time. I always use the USD to assess the value of naira. I know for sure that the value of naira depreciated by 4 times its initial value in 2020.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Kay17: 8:41am On Aug 09, 2025

Dogalmighty17:
I bought a 50kg bag of foreign rice for a friend's wedding for 6k then. Can I try such a thing now?

Salaries are not the same level too. You know.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by xxgig(m): 8:41am On Aug 09, 2025

Putinofrussia:
So also is 100k in 2006 cannot buy what 8k can buy in 1987.

In1990, a 50k bag of rice cost N350.

In 2006, a 50kg bag of rice in Nigeria cost ₦6,000.

In 2025,a 50k bag of rice cost N70,000.
Let us do the maths.

6000 divided by 350 gives ~ 17.

70,000 divided by 6000 gives ~ 11.6= 12(approx)

Comparing the two with the space of 16 and 19 years,Tinubu has done better because price went up 17 times in 1990 (space of 16 years to 2006) even with the fraudulent Fuel Subsidy.

In 2025,with the removal of the fraudulent Fuel Subsidy,price only went up approximately,12 times (and things are still coming down exponentially, we pray)

Kudos to President Tinubu for having gotten the gut to make these hard decisions that brings prosperity to Nigerians soonest..

If Tinunbu has done better, what did Obj, GEJ, Yar'dua and Bubu done?

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by CodeTemplarr: 8:41am On Aug 09, 2025

helinues:
I guess your company is still paying the same salary

Some people would be sounding as if price of goods and services remain same globally for years

It doesn't but agbero and bandit and deve boys are not allowed to inflate cost of living globally because they are loyal to a politician.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Babangidapikin: 8:42am On Aug 09, 2025

Money dey run pass Usain Bolt thisdays , sometimes you wonder where it all went to, those using USD as a yardstick should also remember USD is not stable, it depreciates too, If Government Get sense they should put substantial reserve in Gold. The Federal Reserve, Switzerland and One institution in London have great Gold Reserves, so its value keeps going up because no one spend Gold, so it is not a currency in the real sense of the word just a value preservative ...If Gold was to be spend in coins as currency, it's value preservative go drop.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by helinues: 8:42am On Aug 09, 2025

SocialJustice:
It does, most sensible economies do under 4% inflation annually while Nigeria does about 40%.

Oya mention those countries in Africa using your statistics

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by helinues: 8:42am On Aug 09, 2025

CodeTemplarr:
It doesn't but agbero and bandita and deve boys are not allowed to inflate cost of living globally because they are loyal to a politician.

Comments on issue maturely. Stop this boring attitude

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by SocialJustice: 8:43am On Aug 09, 2025

helinues:
Oya mention those countries in Africa using your statistics

I know I can't wake up a person pretending to be asleep. So goodbye.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Putinofrussia: 8:43am On Aug 09, 2025

Dynamicboss:
Which kudos? People are extremely hungry please!

It will get better.Nigeria was borrowing money to pay for fuel subsidy and defending fx.
When Buhari had problem borrowing,he printed 30 trillion naira,after he exhausted that,they use fuel to borrow money for 5 years.
Meanwhile,ASUU went on strike for 8 months because there was no money to pay them,workers,pensioners,doctors etc were owed money,airlines were owed $7 billion, Nigeria and states were going bankrupt and a load of other ills.
If it went on like that,it would have been worse than this and it might even end in another civil war.
A lot of people were stealing the little oil we were producing...powerful people in govt and out of govt and their cohorts.
It would be a battle for the fittest.
Now,according to FITCH ratings,Poor's ratings,World Bank,IMF...Tinubu has grown the economy (but not felt by the masses ).
Tinubu has paid off the $7billion,paid off IMF more than $3 billion he met on ground etc.

The pain we are going through is what is called transition pain that has eased than last year and it will get better.
Rome was not built in a day.
Go and write it down,before 2027,there will be prosperity for Nigerians.
The key word is a little patience.
For your information,Nigeria's fuel still remains one of the cheapest in Africa.
Previous govts tied our lives to fuel,reason any little hike in price will seem as if the world is ending.
That has stopped. Prosperity is here...soonest.

The United States of America's debt has ballooned to $36.7 trillion, and out of desperation, the U.S. Government is accepting donations from citizens to reduce its indebtedness. The United Kingdom is facing a debt crisis that has seen its budget deficit hit £20.7 billion, and its debt level is now the second highest on record. And the biggest economy in Europe, Germany, is grappling with a €118.8 billion budget deficit.

Meanwhile, in Nigeria, President Bola Tinubu has reduced our national debt from the $113.7 billion he inherited from General Buhari to $97.1 billion today.

This is even as he is building the two largest road infrastructure in Nigeria's history, the 1068 kilometre Illela-Sokoto-Badagry Superhighway, costing ₦13 trillion, and the 750 kilometre Lagos-Calabar Coastal Highway, priced at ₦15 trillion.

Yes, there are still challenges here and there, but Nigeria has made significant progress under Tinubu. And the world is noticing. This is why more countries are granting Nigeria's passport visa-free access, leading to the latest Henley Passport Index upgrading Nigeria's passport from the 97th strongest under General Buhari to the 88th most powerful passport on Earth today.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by CodeTemplarr: 8:44am On Aug 09, 2025

helinues:
Comments on issue maturely. Stop this boring attitude

meet your poppa and momma for that.
Is there any natiom where terrorists get rebranded as bandits and are allowed to levy farmers / villagers? Maturity keeee you there.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Ofunaofu: 8:44am On Aug 09, 2025

Putinofrussia:
Give kudos to the first class accountant,please.

In1990, a 50k bag of rice cost N350.

In 2006, a 50kg bag of rice in Nigeria cost ₦6,000.

In 2025,a 50k bag of rice cost N70,000.
Let us do the maths.

6000 divided by 350 gives ~ 17.

70,000 divided by 6000 gives ~ 11.6= 12(approx)

Comparing the two with the space of 16 and 19 years,Tinubu has done better because price went up 17 times in 1990 (space of 16 years to 2006) even with the fraudulent Fuel Subsidy.

In 2025,with the removal of the fraudulent Fuel Subsidy,price only went up approximately,12 times (and things are still coming down exponentially, we pray)

Kudos to President Tinubu for having gotten the gut to make these hard decisions that brings prosperity to Nigerians soonest..

You were making sense until this

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Lucas4903: 8:44am On Aug 09, 2025

YesDaddyTill203:
This is a worldwide phenomenon; what we used to buy in 2006 compared to now is vastly different, even with the best currency in the world.
In 2006, with 100 dollars, I could almost fill my shopping cart; now 100 dollars doesn't buy much.
I'm talking about the US economy, which is considered to be the best in the world.
Food is so expensive now in the US that almost everyone is feeling the effects. Grocery prices are going through the roof.

Baba no mind all these people. They think it doesn’t t rain everywhere say na only Nigeria prices have gone through the roof. Here in Canada I make groceries before with $300/400 but now if over a $1000 and someone in Nigeria thinks they are the only one who dey feel the heat. The way Nigerians reason dey baffle me. They think prices should remain for 50yrs. Everything to them na president.

1 Like 1 Share

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by amaridigital(m): 8:44am On Aug 09, 2025

BlackViper:
https://x.com/StatiSense/status/1953857600275001450?t=wPf_tNDHFgteL0OVVTlBYw&s=19[/quote]Just sensational headline for Gen Z kiddos. Can #1,000,000 in 20006 buy what you could get with #1000 in 1986 when people are earning #50 per month?

1 Like

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by marlow1962(m): 8:45am On Aug 09, 2025

Putinofrussia:
Give kudos to the first class accountant,please.

In1990, a 50k bag of rice cost N350.

In 2006, a 50kg bag of rice in Nigeria cost ₦6,000.

In 2025,a 50k bag of rice cost N70,000.
Let us do the maths.

6000 divided by 350 gives ~ 17.

70,000 divided by 6000 gives ~ 11.6= 12(approx)

Comparing the two with the space of 16 and 19 years,Tinubu has done better because price went up 17 times in 1990 (space of 16 years to 2006) even with the fraudulent Fuel Subsidy.

In 2025,with the removal of the fraudulent Fuel Subsidy,price only went up approximately,12 times (and things are still coming down exponentially, we pray)

Kudos to President Tinubu for having gotten the gut to make these hard decisions that brings prosperity to Nigerians soonest..

Na statistics we go chop? grin

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by helinues: 8:45am On Aug 09, 2025

SocialJustice:
I know I can't wake up a person pretending to be asleep. So goodbye.

Of course, you must tear race as you don't even have a clue about this discussion

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by ibabz(m): 8:45am On Aug 09, 2025

Putinofrussia:
So also is 100k in 2006 cannot buy what 8k can buy in 1987.

In1990, a 50k bag of rice cost N350.

In 2006, a 50kg bag of rice in Nigeria cost ₦6,000.

In 2025,a 50k bag of rice cost N70,000.
Let us do the maths.

6000 divided by 350 gives ~ 17.

70,000 divided by 6000 gives ~ 11.6= 12(approx)

Comparing the two with the space of 16 and 19 years,Tinubu has done better because price went up 17 times in 1990 (space of 16 years to 2006) even with the fraudulent Fuel Subsidy.

In 2025,with the removal of the fraudulent Fuel Subsidy,price only went up approximately,12 times (and things are still coming down exponentially, we pray)

Kudos to President Tinubu for having gotten the gut to make these hard decisions that brings prosperity to Nigerians soonest..

Oh really? You guys can’t cease to amaze me. Why not do the first 10yrs of PDP 1999 to 2009 and the first 10yrs of the APC from 2015 to 2025? Since you want us to compare the performance of APC and PDP, focus your energy on the period each party assumed office.

2 Likes

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by Lanre1st(m): 8:46am On Aug 09, 2025

Putinofrussia:
So also is 100k in 2006 cannot buy what 8k can buy in 1987.

In1990, a 50k bag of rice cost N350.

In 2006, a 50kg bag of rice in Nigeria cost ₦6,000.

In 2025,a 50k bag of rice cost N70,000.
Let us do the maths.

6000 divided by 350 gives ~ 17.

70,000 divided by 6000 gives ~ 11.6= 12(approx)

Comparing the two with the space of 16 and 19 years,Tinubu has done better because price went up 17 times in 1990 (space of 16 years to 2006) even with the fraudulent Fuel Subsidy.

In 2025,with the removal of the fraudulent Fuel Subsidy,price only went up approximately,12 times (and things are still coming down exponentially, we pray)

Kudos to President Tinubu for having gotten the gut to make these hard decisions that brings prosperity to Nigerians soonest..

O boy, it's better you come to reality, in space of 2years Tinubu religates Nigerians from middle class to lower class and from lower class to beggar

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by SocialJustice: 8:46am On Aug 09, 2025

helinues:
Of course, you must tear race as you don't even have a clue about this discussion

Oga goodbye, if I saw the name of your handle before quoting I wouldn't have done it.

Re: ₦100k In 2025 Cannot Buy What ₦8k Could Buy In 2006 - StatiSense by helinues: 8:47am On Aug 09, 2025

Baxilexi:
Then read up consumer price index and basket of goods and services.

Minimum wage in most countries is calculated based on these realities.
How you hate your own kin and kit is bemusing to me. Staying obtuse and supporting a fallacy that Nigerians have it better now than ever is mind boggling.

What is the true value of our minimum wage? Compared to that of South Africa(which raised its minimwage this year)?

Leave Ejo wewe and answer my straight question

How much is the price of basic things anywhere compared to Nigeria?

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