₦airaland Forum

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.

Mr arithmetic, the income Nigeria has in those years is it the same income Nigeria is getting now? Huhh? Can't you see the income has been much larger now?

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..

BlackViper:
https://x.com/StatiSense/status/1953857600275001450?t=wPf_tNDHFgteL0OVVTlBYw&s=19[/quote]I don't believe this. Let's ask how much a bag of rice was in 2006 and let's compare that to how much it is today. During that time, I was in my undergrad studies, and I know how much I get as pocket money. The money was never enough, never.

So, using this comparison doesn't sit well at all.

MemphitzDgreat1:
Na wetin Daniel Bwala say Tinubu better pass Obasanjo be this

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

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.

Mr arithmetic, the income Nigeria has in those years is it the same income Nigeria is getting now? Huhh? Can't you see the income has been much larger now?

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..

Putinofrussia:
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.

Draslo:
By all means, let's blame one person.

That's what happens when you peg your currencies against the USD

Godjone:
Nigeria is gone except we allowed the person who will be prudent in finance to handle the country and the person is no other but OBI

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..

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..

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..

Image123:
If OBJ did what his mates were doing with dollars, we'll not be where we are today. He and Atiku built their personal business while Dubai was building their metros, Dubai mall, burj khalifa and co.

wizelink:
Oh boy who do Nigeria this? This is a very serious issue and it is even worsening the more. APC to hell with you and whoever that brought you in Nigeria. God have mercy.

wizelink:
Oh boy who do Nigeria this? This is a very serious issue and it is even worsening the more. APC to hell with you and whoever that brought you in Nigeria. God have mercy.

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..

yemre:
You are so smart and intelligent.

Some people just make comparison without considering the real facts. There's inflation all over the world and the world can not be stagnant. A nursing course that used to cost $10k just two years ago is $35k as of today.

I do tell people, prices of things will never come down in this country, we are the ones that will keep up with the ride. Else, we'll be left behind.

What we buy for 10k today will be worth nothing less than 100k in the next 15 years or so. It's just the reality.

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..

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..

ibabz:
I pity your ignorance. Official data shows that when Obasanjo left office in 2007, Nigeria had $43.13 billion in reserves: comprising $31.5 billion in external reserves, $9.43 billion in the Excess Crude Account, and $2.18 billion in government savings. Please, tell me, what has your APC government achieved since then, other than borrowing, fueling inflation, and inflicting undue hardship on the people?

Imagine an administration that just took over from the ruins of the military and was able to navigate the country into one of the fastest growing economies in the wand the fastest in Africa.

I have said this before, the worst of PDP is far better than the best of APC. If these people are the best APC can produce, then they have no business in the affairs of governance.

EyeCumInPiss:
Fun fact:
Do you know that one seed of Groundnut🥜 is now worth over ₦2.

Next time you buy ₦100 groundnuts, take time to count them. They are not up to 50 seeds.
Omoh........u really cum in peace

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..

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