₦airaland Forum

Godfullsam:
How much was your earning in 2006? Compare and contrast.

I don't support this government though, but you can only shout inflation if your earnings remain constant between these periods or if the national minimum wage remains constant between 2006 and 2025 or if the money in circulation remains the same.

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:
Exactly. When his mates wey investing that $43billion, he and Atiku were busy struggling for third term and dollarisation of primaries. We all see how 'smart' and visionless he was a few years later. Go and see Dubai on Google and see what Dubai Metro, Dubai mall and Burj Khalifa has turned them to. Mr I save money in the bank cannot relate.

justli:
The problem most of you have is that while being very loud and seeming intelligent, hence able to drown out opposing views, you people lack basic economics comprehension or you are not capable of critical thinking.

In 1987 the minimum wage was less than 200#. By 2006 the minimum wage was over 5000# and all that rise happened from 2000 under Obasanjo. For the first civil servant were able to buy cars and can afford university education for their children and better housing.
In the time period, minimum wage grew over 4000+ percent.

Since APC took over in minimum wage has gone up from 18,000 to 70,000 (288% increase)
That is why the middle class is gone and civil servants can no longer afford a car or good housing.

And let's not even talk about scale differences in this rise. A 100% rise in inflation in 1987 is not the same as 100% rise in inflation in 2025.

There is a reason europeans would protest over slight increase in the price of staples. They understand economics from direct impact on daily living and not some rubbish hocus pocus some lowlife economist claims.

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.

This is how people should counter post, not abuse or name calling.

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..

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

missionmex:
Compare the inflation rate of sane countries with ours oga. Nobody is saying that things must remain the same. But let the inflation rate be manageable.

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..

Gbogbowa:
we are talking of democracy you are talking of military rule.if things were better during military rule why do you think we fight for Democracy? Compare Tinubu regime with any Democracy regime in Nigeria Tinubu tenure is the worst. Keep defending rubbish

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..

Fuckinecng:
[color=#990000][/color] KEEP DEFENDING RUBBISH............WITH...... 30K MONTHLY STIPEND WHILE YOUR MASTER ARE LIVING LARGE WITH THIER FAMILIES WHILE YOU ENJOYING UR CRUMB in pieces.....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.. KEEP DEFENDING RUBBISH...

ibabz:
Haaa chey your mumu no too much? At least their government were able to save without plunging the country into a massive debt. Pls has your APC turned Nigeria into Dubai after 10yrs in office and massive debt portfolio?

helinues:
Tell us the inflation rates of other countries compared to Nigeria

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..

missionmex:
United States of America 3%
United kingdom 3.5%
Australia 2,1%
Switzerland 1.6%
Canada 1.06%
Nigeria 22%
Do your own research.

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..

Kay17:
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.

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:
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.

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:
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 got the gut to make these hard decisions that brings prosperity to Nigerians soonest..

Datedoboy:
To understand how poor the minimum wage is, compare Naira with South korea's won which is almost the same rate. The minimum wage in south korea is about 10,000 won per hour.In summary, you can't earn less than 2 million won per month which is about 2 million naira monthly.

A bag of 50kg rice is about 10 percent of the minimum monthly wage in south korea but in Nigeria, it is over 100%.

This is nothing but wickedness and deliberate poverty creation.