₦airaland Forum

Streetinvestor2:
It is the only sure bet I have with target yr of 2030..lol
I will keep increasing it gradually

Hope it works for you

SonofElElyonRet:
Hope it works for you

Yes I will be monitoring them to see if the 100,000 barrel production is on course as the target yr is 2030. If any break in transmission. I will japa as no emotion attached to any stock again

Domestic transactions on the Nigerian Exchange Limited (NGX) rose to a record N10.68 trillion in July 2026, surpassing the total value recorded in the whole of 2025 and marking the highest level in the last 19 years.

According to the NGX Domestic and Foreign Portfolio Investment Report for July 2026, year-to-date domestic transactions reached N10.68 trillion, representing 89.21% of total market activity.

The figure exceeds the N9.27 trillion domestic transactions recorded throughout 2025 by 15.21%, highlighting the growing dominance of local investors in Nigeria’s capital market.

Streetinvestor2:
Yes I will be monitoring them to see if the 100,000 barrel production is on course as the target yr is 2030. If any break in transmission. I will japa as no emotion attached to any stock again

The real cost is that you could have gotten more for your money during the period than the likely return with better cardiac health...

https://www.youtube.com/live/NUdERpzLk3c?si=ON8IzUar1ZbdBCIx

Discussing last week's trading session on the NGX at the moment

londonerr:
The real cost is that you could have gotten more for your money during the period than the likely return with better cardiac health...

You would have been right if I was using ur money...lol
You don't sound to me as someone who has better experience than me too in this business

So Ghana wan dey give us Electricity.l?
See finish..

chimex38:
So Ghana wan dey give us Electricity.l?
See finish..

Anything is possible under failed apc/bat government as they have excuses for any failure

Here’s the common *global wealth classification*, from poorest to wealthiest. This is the standard one used today:

*Wealth by Net Worth*

*Net worth = Assets - Debts. Excludes primary home sometimes, but usually includes all assets*.

1. *Destitute / In Poverty*: <$2,000 (*having less than 3 Million Naira*). Basic survival. World Bank "extreme poverty" is <$2.15/day (*making less than N3,000 per day*). - LEVEL 1.

2. *Low Income*: $2,000 - $10,000 (*having between 3 to 15 Million Naira*). Can afford basics, but has little to no savings or investments. - LEVEL 2.

3. *Lower Middle Class*: $10,000 - $100,000 (*having between 15 to 150 Million Naira*). Has some savings, can afford small assets, car, and maybe land. - LEVEL 3.

4. *Upper Middle Class / Mass Affluent*: $100,000 - $1,000,000 (*having between 150 Million Naira to 1.5 Billion Naira*). Is likely a Home owner, and can afford investments, and retirement funds. - LEVEL 4.

5. *Millionaire*: $1,000,000 - $5,000,000 (*having between 1.5 Billion Naira to 7.5 Billion Naira*). Has Financial security. Can live off investments. LEVEL 5.

6. *High-Net-Worth Individual HNWI*: $5,000,000 - $30,000,000 (*having between 7.5 Billion Naira to 45 Billion Naira*). Is likely a Private banking client. Has Multiple properties, businesses. - LEVEL 6.

7. *Very-High-Net-Worth Individual VHNW*: $30,000,000 - $100,000,000 (*having between 45 Billion Naira to 150 Billion Naira*). Likely has Family offices, and significant business holdings. - LEVEL 7.

8. *Ultra-High-Net-Worth Individual UHNW*: $100,000,000 - $1,000,000,000 (*having between 150 Billion Naira to 1.5 Trillion Naira*). Owns companies, private jets, can afford philanthropy. - LEVEL 8.

9. *Deca-millionaire*: $10,000,000 - $99,999,999 (*having between 15 Billion Naira to 150 Billion Naira*). Often grouped under VHNW.

10. *Centi-millionaire*: $100,000,000 - $999,999,999 (*having between 150 Billion Naira to 1.5 Trillion Naira*). Often grouped under UHNW.

11. *Billionaire*: $1,000,000,000 - $9,999,999,999 (*having between 1.5 Trillion Naira to 15 Trillion Naira*). Top 0.0001% globally. Only 3,200 people worldwide in 2026. - LEVEL 9.

12. *Decabillionaire*: $10,000,000,000 - 99,999,999,999 (*having between 15 Trillion Naira to 150 Trillion Naira*). Only 50 people worldwide in 2026. - LEVEL 10.

13. *Centibillionaire*: $100,000,000,000+ (*having above 150 Trillion Naira*). Only 15 people worldwide in 2026. e.g. Elon Musk, Bezos, etc. - LEVEL 11.


*Wealth by Annual Income*

*Different lens - how much you earn per year*.

*Poor*: <$15,000 (*earning less than 22.5 Million Naira per year*).

*Working Class*: $15,000 - $50,000 (*earning between 22.5 to 75 Million Naira per year*).

*Middle Class*: $50,000 - $150,000 (*earning between 75 to 225 Million Naira per year*).

*Upper Middle Class*: $150,000 - $500,000 (*earning between 225 to 750 Million Naira per year*).

*Affluent*: $500,000 - $1,000,000 (*earning between 750 Million to 1.5 Billion Naira per year*).

*Wealthy*: $1,000,000 - $10,000,000 (*earning between 1.5 to 15 Billion Naira per year*).

*Rich*: $10,000,000+ (*earning above 15 Billion Naira per year*).

Very unrealistic rating!
That means 99.9% of Nigerians and at least 50% of Americans are poor! As most of Americans earn between $10k and $20k annually.

essentialone:
Here’s the common *global wealth classification*, from poorest to wealthiest. This is the standard one used today:

*Wealth by Net Worth*

*Net worth = Assets - Debts. Excludes primary home sometimes, but usually includes all assets*.

1. *Destitute / In Poverty*: <$2,000 (*having less than 3 Million Naira*). Basic survival. World Bank "extreme poverty" is <$2.15/day (*making less than N3,000 per day*).

2. *Low Income*: $2,000 - $10,000 (*having between 3 to 15 Million Naira*). Can afford basics, but has little to no savings or investments.

3. *Lower Middle Class*: $10,000 - $100,000 (*having between 15 to 150 Million Naira*). Has some savings, can afford small assets, car, and maybe land.

4. *Upper Middle Class / Mass Affluent*: $100,000 - $999,999 (*having between 150 Million Naira to 1.5 Billion Naira*). Is likely a Home owner, and can afford investments, and retirement funds.

5. *Millionaire*: $1,000,000 - $5,000,000 (*having between 1.5 Billion Naira to 7.5 Billion Naira*). Has Financial security. Can live off investments.

6. *High-Net-Worth Individual HNWI*: $5,000,000 - $30,000,000 (*having between 7.5 Billion Naira to 45 Billion Naira*). Is likely a Private banking client. Has Multiple properties, businesses.

7. *Very-High-Net-Worth Individual VHNW*: $30,000,000 - $100,000,000 (*having between 45 Billion Naira to 150 Billion Naira*). Likely has Family offices, and significant business holdings.

8. *Ultra-High-Net-Worth Individual UHNW*: $100,000,000 - $999,999,999 (*having between 150 Billion Naira to 1.5 Trillion Naira*). Owns companies, private jets, can afford philanthropy.

9. *Deca-millionaire*: $10,000,000 - $100,000,000 (*having between 15 Billion Naira to 150 Billion Naira*). Often grouped under VHNW.

10. *Centi-millionaire*: $100,000,000 - $999,999,999 (*having between 150 Billion Naira to 1.5 Trillion Naira*). Often grouped under UHNW.

11. *Billionaire*: $1,000,000,000 - $999,999,999 (*having between 1.5 Trillion Naira to 15 Trillion Naira*). Top 0.0001% globally. Only 3,200 people worldwide in 2026.

12. *Decabillionaire*: $10,000,000,000 - 99,999,999,999 (*having between 15 Trillion Naira to 150 Trillion Naira*). Only 50 people worldwide in 2026.

13. *Centibillionaire*: $100,000,000,000 (*having above 150 Trillion Naira*). Only 15 people worldwide in 2026. e.g. Elon Musk, Bezos, etc.


*Wealth by Annual Income*

*Different lens - how much you earn per year*.

*Poor*: <$15,000 (*earning less than 22.5 Million Naira per year*).

*Working Class*: $15,000 - $50,000 (*earning between 22.5 to 75 Million Naira per year*).

*Middle Class*: $50,000 - $150,000 (*earning between 75 to 225 Million Naira per year*).

*Upper Middle Class*: $150,000 - $500,000 (*earning between 225 to 750 Million Naira per year*).

*Affluent*: $500,000 - $1,000,000 (*earning between 750 Million to 1.5 Billion Naira per year*).

*Wealthy*: $1,000,000 - $10,000,000 (*earning between 1.5 to 15 Billion Naira per year*).

*Rich*: $10,000,000+ (*earning above 15 Billion Naira per year*).

You're right to question it — it *feels* unrealistic because we're mixing 2 different lenses: *Net Worth vs Income*, and *Global USD vs Local Purchasing Power*.

Let's break it:

*1. "99.9% of Nigerians are poor" - By this net worth chart? Yes.*
- *LEVEL 2 "Low Income"* starts at ₦3M in net worth.
- *World Bank 2026 data*: ∼87% of Nigerians live below $2.15/day = extreme poverty. Another ∼10% are just above that.
- *Median net worth in Nigeria* is estimated <$1,000. Most people own little beyond basic assets, and many people have debt.

So by *global USD net worth standards*, yes, 99%+ of Nigerians fall under LEVEL 1-2. That's why banks call Nigeria a "frontier market".

But that's misleading locally because ₦3M goes way further in Nigeria, than $2,000 does in USA.

*2. "50% of Americans earn $10k-$20k annually" - Not quite*
That's a common myth.

*US Median Household Income 2025/2026: ∼$80,000/year*
*US Median Individual Income: ∼$45,000 - $50,000/year*

Only ∼8-10% of US workers earn <$15,000/year. Those are usually students, part-time workers, and retirees.

So by the *Income* chart I posted:
- *$15K-$50K = Working Class*
- *$50K-$150K = Middle Class*

That means ∼60% of Americans are "Working Class to Middle Class" by income. Not "poor".

Where the confusion comes from: Many Americans have *low net worth* even with $50K income. US median household *net worth* is ∼$192,000. So most Americans are LEVEL 3-4 by net worth.

*3. Why the chart feels "harsh"*
*USD is global, not local*: $100K net worth = LEVEL 4. In US that's barely a downpayment. In Nigeria that's ₦150M = mansion + land + cars
*Net Worth ≠ Income*: You can earn $100K/yr but have $0 net worth if you spend it all. And you can have $1M net worth while earning $30K/yr if you inherited.
*Banks use USD*: World Banking giants classify clients globally in USD, so that they can compare Dubai vs Nigeria vs UK.

*The real takeaway for Nigeria*
Don't fully judge yourself by the USD label. Also judge yourself by our local purchasing power, the Naira.
- *₦150M net worth in Lagos* = LEVEL 4 on paper, but you're top 0.5% in Nigeria, and can live very comfortably.
- *$1M "Dollar Millionaire"* in Nigeria = ₦1.5B. There are only 4,200 of those in Nigeria as of 2026. That's why it's still a big deal here.

So: *The numbers are factually correct for global USD classification. But "poor" by global USD ≠ "poor" by local living standards in Nigeria.*

essentialone:
Here’s the common *global wealth classification*, from poorest to wealthiest. This is the standard one used today:

*Wealth by Net Worth*

*Net worth = Assets - Debts. Excludes primary home sometimes, but usually includes all assets*.

1. *Destitute / In Poverty*: <$2,000 (*having less than 3 Million Naira*). Basic survival. World Bank "extreme poverty" is <$2.15/day (*making less than N3,000 per day*). - LEVEL 1.

2. *Low Income*: $2,000 - $10,000 (*having between 3 to 15 Million Naira*). Can afford basics, but has little to no savings or investments. - LEVEL 2.

3. *Lower Middle Class*: $10,000 - $100,000 (*having between 15 to 150 Million Naira*). Has some savings, can afford small assets, car, and maybe land. - LEVEL 3.

4. *Upper Middle Class / Mass Affluent*: $100,000 - $1,000,000 (*having between 150 Million Naira to 1.5 Billion Naira*). Is likely a Home owner, and can afford investments, and retirement funds. - LEVEL 4.

5. *Millionaire*: $1,000,000 - $5,000,000 (*having between 1.5 Billion Naira to 7.5 Billion Naira*). Has Financial security. Can live off investments. LEVEL 5.

6. *High-Net-Worth Individual HNWI*: $5,000,000 - $30,000,000 (*having between 7.5 Billion Naira to 45 Billion Naira*). Is likely a Private banking client. Has Multiple properties, businesses. - LEVEL 6.

7. *Very-High-Net-Worth Individual VHNW*: $30,000,000 - $100,000,000 (*having between 45 Billion Naira to 150 Billion Naira*). Likely has Family offices, and significant business holdings. - LEVEL 7.

8. *Ultra-High-Net-Worth Individual UHNW*: $100,000,000 - $1,000,000,000 (*having between 150 Billion Naira to 1.5 Trillion Naira*). Owns companies, private jets, can afford philanthropy. - LEVEL 8.

9. *Deca-millionaire*: $10,000,000 - $99,999,999 (*having between 15 Billion Naira to 150 Billion Naira*). Often grouped under VHNW.

10. *Centi-millionaire*: $100,000,000 - $999,999,999 (*having between 150 Billion Naira to 1.5 Trillion Naira*). Often grouped under UHNW.

11. *Billionaire*: $1,000,000,000 - $9,999,999,999 (*having between 1.5 Trillion Naira to 15 Trillion Naira*). Top 0.0001% globally. Only 3,200 people worldwide in 2026. - LEVEL 9.

12. *Decabillionaire*: $10,000,000,000 - 99,999,999,999 (*having between 15 Trillion Naira to 150 Trillion Naira*). Only 50 people worldwide in 2026. - LEVEL 10.

13. *Centibillionaire*: $100,000,000,000+ (*having above 150 Trillion Naira*). Only 15 people worldwide in 2026. e.g. Elon Musk, Bezos, etc. - LEVEL 11.


*Wealth by Annual Income*

*Different lens - how much you earn per year*.

*Poor*: <$15,000 (*earning less than 22.5 Million Naira per year*).

*Working Class*: $15,000 - $50,000 (*earning between 22.5 to 75 Million Naira per year*).

*Middle Class*: $50,000 - $150,000 (*earning between 75 to 225 Million Naira per year*).

*Upper Middle Class*: $150,000 - $500,000 (*earning between 225 to 750 Million Naira per year*).

*Affluent*: $500,000 - $1,000,000 (*earning between 750 Million to 1.5 Billion Naira per year*).

*Wealthy*: $1,000,000 - $10,000,000 (*earning between 1.5 to 15 Billion Naira per year*).

*Rich*: $10,000,000+ (*earning above 15 Billion Naira per year*).

I don't think they took Purchasing Power Parity into consideration before arriving at this.

The figures might work in Europe, North America and Japan

Atise77:
Very unrealistic rating!
That means 99.9% of Nigerians and at least 50% of Americans are poor! As most of Americans earn between $10k and $20k annually.

$10k to $20k are below minimum wage

emmanuelewumi:
I don't think they took Purchasing Power Parity into consideration before arriving at this.

The figures might work in Europe, North America and Japan

That was explained in the next post.

essentialone:
That was explained in the next post.

Just 18.1% of global adults have a networth of $100,000 and above.

Just 1.6% of global adults have a networth of $1 million and above

The dollar illusion.

N20m may build you a home in Ekiti, $15k can't anywhere in the US.

essentialone:
Here’s the common *global wealth classification*, from poorest to wealthiest. This is the standard one used today:

*Wealth by Net Worth*

*Net worth = Assets - Debts. Excludes primary home sometimes, but usually includes all assets*.

1. *Destitute / In Poverty*: <$2,000 (*having less than 3 Million Naira*). Basic survival. World Bank "extreme poverty" is <$2.15/day (*making less than N3,000 per day*). - LEVEL 1.

2. *Low Income*: $2,000 - $10,000 (*having between 3 to 15 Million Naira*). Can afford basics, but has little to no savings or investments. - LEVEL 2.

3. *Lower Middle Class*: $10,000 - $100,000 (*having between 15 to 150 Million Naira*). Has some savings, can afford small assets, car, and maybe land. - LEVEL 3.

4. *Upper Middle Class / Mass Affluent*: $100,000 - $1,000,000 (*having between 150 Million Naira to 1.5 Billion Naira*). Is likely a Home owner, and can afford investments, and retirement funds. - LEVEL 4.

5. *Millionaire*: $1,000,000 - $5,000,000 (*having between 1.5 Billion Naira to 7.5 Billion Naira*). Has Financial security. Can live off investments. LEVEL 5.

6. *High-Net-Worth Individual HNWI*: $5,000,000 - $30,000,000 (*having between 7.5 Billion Naira to 45 Billion Naira*). Is likely a Private banking client. Has Multiple properties, businesses. - LEVEL 6.

7. *Very-High-Net-Worth Individual VHNW*: $30,000,000 - $100,000,000 (*having between 45 Billion Naira to 150 Billion Naira*). Likely has Family offices, and significant business holdings. - LEVEL 7.

8. *Ultra-High-Net-Worth Individual UHNW*: $100,000,000 - $1,000,000,000 (*having between 150 Billion Naira to 1.5 Trillion Naira*). Owns companies, private jets, can afford philanthropy. - LEVEL 8.

9. *Deca-millionaire*: $10,000,000 - $99,999,999 (*having between 15 Billion Naira to 150 Billion Naira*). Often grouped under VHNW.

10. *Centi-millionaire*: $100,000,000 - $999,999,999 (*having between 150 Billion Naira to 1.5 Trillion Naira*). Often grouped under UHNW.

11. *Billionaire*: $1,000,000,000 - $9,999,999,999 (*having between 1.5 Trillion Naira to 15 Trillion Naira*). Top 0.0001% globally. Only 3,200 people worldwide in 2026. - LEVEL 9.

12. *Decabillionaire*: $10,000,000,000 - 99,999,999,999 (*having between 15 Trillion Naira to 150 Trillion Naira*). Only 50 people worldwide in 2026. - LEVEL 10.

13. *Centibillionaire*: $100,000,000,000+ (*having above 150 Trillion Naira*). Only 15 people worldwide in 2026. e.g. Elon Musk, Bezos, etc. - LEVEL 11.


*Wealth by Annual Income*

*Different lens - how much you earn per year*.

*Poor*: <$15,000 (*earning less than 22.5 Million Naira per year*).

*Working Class*: $15,000 - $50,000 (*earning between 22.5 to 75 Million Naira per year*).

*Middle Class*: $50,000 - $150,000 (*earning between 75 to 225 Million Naira per year*).

*Upper Middle Class*: $150,000 - $500,000 (*earning between 225 to 750 Million Naira per year*).

*Affluent*: $500,000 - $1,000,000 (*earning between 750 Million to 1.5 Billion Naira per year*).

*Wealthy*: $1,000,000 - $10,000,000 (*earning between 1.5 to 15 Billion Naira per year*).

*Rich*: $10,000,000+ (*earning above 15 Billion Naira per year*).

GeeKudi:
The dollar illusion.

N20m may build you a home in Ekiti, $15k can't anywhere in the US.

You never have a house in the US....

SmartInsure:
Nigeria Opens the Door to a $750m Cloud Investment Wave

https://naijaticker.com/news/naijaticker/nigeria-opens-the-door-to-a-750m-cloud-investment-wave?utm_source=nairaland&utm_medium=referral&utm_content=thread

Pyramid scheme. The dude holding microphone does not even know whats aws or azure.

GeeKudi:
The dollar illusion.

N20m may build you a home in Ekiti, $15k can't anywhere in the US.

House your kids sell off .

GeeKudi:
The dollar illusion.

N20m may build you a home in Ekiti, $15k can't anywhere in the US.

The 15k na for down payment.

WHAT WILL THE MARKET DO ON MONDAY 24 AUGUST 2026.
Analysis of price action is telling us that the bearish trend is showing down. However, we still stay on the side of the recently trend.

GeeKudi:
The dollar illusion.

N20m may build you a home in Ekiti, $15k can't anywhere in the US.

Have you considered how long it would take someone receiving minimum wage in Nigeria to earn (or save) N20m versus how long his counterpart in US would take to earn (or save) $15k ?

The point I alluded to is that anyone who is able to save N20m in Nigeria is not essentially poor. I don't know if we can say that about the one who saved $15k in the US. And, except he needs to directly spend dollars, the Nigerian man has no business putting a conversion calculator on his treasured N20m.

mikeapollo:
Have you considered how long it would take someone receiving minimum wage in Nigeria to earn (or save) N20m versus how long his counterpart in US would take to earn (or save) $15k ?

GeeKudi:
The dollar illusion.

N20m may build you a home in Ekiti, $15k can't anywhere in the US.

$15k can give you decent economic comfort, access to amenities and welfare and quality standard of living. One can fund such basics with average monthly earnings from the $15k. Worst case slight borrowing without trying to break the bank(steal,etc)

20m cant give you such standard economic benefit. You will have to keep finding ways to keep earning 20m every now-and-then to both own and maintain-your own economic benefits and welfare packages to level up on same standard of living because even the average monthly earnings from the 20m won't be enough to both maintain and buy your personal welfare packages....
leading to HBP, stealing, cut-corners, etc...

Summary is, 20m looks reasonable in the short-run but not sustainable in the long-run cuz
1) reduced purchasing power
2) 20m earnings might not be sustainable. Might just be a one-off hit for the average earner in Nigeria.

chimex38:
$15k can give you decent economic comfort, access to amenities and welfare and quality standard of living. One can fund such basics with average monthly earnings from the $15k. Worst case slight borrowing without trying to break the bank(steal,etc)

20m cant give you such standard economic benefit. You will have to keep finding ways to keep earning 20m every now-and-then to both own and maintain-your own economic benefits and welfare packages to level up on same standard of living because even the average monthly earnings from the 20m won't be enough to both maintain and buy your personal welfare packages....
leading to HBP, stealing, cut-corners, etc...

Summary is, 20m looks reasonable in the short-run but not sustainable in the long-run cuz
1) reduced purchasing power
2) 20m earnings might not be sustainable. Might just be a one-off hit for the average earner in Nigeria.

Let me use this scenario,
I "bet" out of the 100% of citizens who have been able to afford solar panels in their homes since 2015, only probably about 10-20% have been able to both maintain and replace their equipments where applicable to its full capacity in the last 10yrs.

Most have scaled down their capacity including businesses not to mention personal installations.

Probably less than 1% have been able to expand their initial installation capacity and it's mostly businesses not personal welfare use.

(My stats are made-up though based on those I see)


But the $15k foreign earners , just pay a token from their earning and are guaranteed houses via mortgages, steady light, water, insurance, health, etc.

You are deviating!
Regardless of the miriads of "hardships" or "constraints" he has to face, the Nigerain man who is able to save (not a one-time hit) N20m is not poor. The fact that he was able to survive while saving that money means he has mastered how to live with or live above those conditions you listed.

chimex38:
$15k can give you decent economic comfort, access to amenities and welfare and quality standard of living. One can fund such basics with average monthly earnings from the $15k. Worst case slight borrowing without trying to break the bank(steal,etc)

20m cant give you such standard economic benefit. You will have to keep finding ways to keep earning 20m every now-and-then to both own and maintain-your own economic benefits and welfare packages to level up on same standard of living because even the average monthly earnings from the 20m won't be enough to both maintain and buy your personal welfare packages....
leading to HBP, stealing, cut-corners, etc...

Summary is, 20m looks reasonable in the short-run but not sustainable in the long-run cuz
1) reduced purchasing power
2) 20m earnings might not be sustainable. Might just be a one-off hit for the average earner in Nigeria.

GeeKudi:
You are deviating!
Regardless of the miriads of "hardships" or "constraints" he has to face, the Nigerain man who is able to save (not a one-time-hit) N20m is not poor. The fact that he was able to survive while saving that money means he has mastered how to live with or live above those conditions you listed.

Interest on that money is 3 million naira per annum and that is more than three times the minimum wage. Some families live on such per annum. What this means is that a single person living on the interest on 20 million naira isn't poor in Nigeria. Nobody earning 300 percent of minimum wage in any country is poor in that country.

I don’t understand this ‘earnings from $15k’ to fund anything. What earnings? If an American has a total networth of 15k, without their famous access to credit, they may be living on the streets. Maybe -5k will go a long way if you’re living in rural Massachusetts, but in any urban city, you can’t pay rent and buy food on that without having a flatmate.

If you have N20m in many Nigeria states, you can live for three years. Millions of Nigerian workers earn less than 3m a year in total. At that level, 20m will cover rent and food and utilities for years. Infact, it can build you a house.

chimex38:
$15k can give you decent economic comfort, access to amenities and welfare and quality standard of living. One can fund such basics with average monthly earnings from the $15k. Worst case slight borrowing without trying to break the bank(steal,etc)

20m cant give you such standard economic benefit. You will have to keep finding ways to keep earning 20m every now-and-then to both own and maintain-your own economic benefits and welfare packages to level up on same standard of living because even the average monthly earnings from the 20m won't be enough to both maintain and buy your personal welfare packages....
leading to HBP, stealing, cut-corners, etc...

Summary is, 20m looks reasonable in the short-run but not sustainable in the long-run cuz
1) reduced purchasing power
2) 20m earnings might not be sustainable. Might just be a one-off hit for the average earner in Nigeria.

GeeKudi:
The point I alluded to is that anyone who is able to save N20m in Nigeria is not essentially poor. I don't know if we can say that about the one who saved $15k in the US. And, except he needs to directly spend dollars, the Nigerian man has no business putting a conversion calculator on his treasured N20m.

Agreed. 20m saving isn't poor in Naija context.
But are we talking Earning or savings?
If savings, the Naija guy saving 20m is mostly never net-of-welfare(Aside usually food). He will have to cater for economic essentials, welfare.
Won't be able to maintain some form of luxury after that while
$15k guys savings is net of expenses--which includes totality of welfare package.
$15k is entirely for luxury as he deems fit

On welfare expansion example:
The Naija guy has no business complaining about MTN data lag and poor upload and download quality. He should buy starlink and fibre cables and put in his house to be at par in life- quality with his $15k counterpart.
be able to stream matches during his busy schedules if he's a football fan by paying any premium cost required like his American counterpart who has several free port and channels to do so.


Same goes for other basics and daily life activities. He should account for them entirely from his earnings so that they are at equal par in quality- of-life.

Then we can now compare who has more finance left for luxury.

I never kuku go America before, so, I am not hallucinating about what happens there. But the Nigeria wey I know, anyone who is able to save that amount has mastered the environment and is on a good path.

deathwing:
I don’t understand this ‘earnings from $15k’ to fund anything. What earnings? If an American has a total networth of 15k, without their famous access to credit, they may be living on the streets. Maybe -5k will go a long way if you’re living in rural Massachusetts, but in any urban city, you can’t pay rent and buy food on that without having a flatmate.

If you have N20m in many Nigeria states, you can live for three years. Millions of Nigerian workers earn less than 3m a year in total. At that level, 20m will cover rent and food and utilities for years. Infact, it can build you a house.

He wasn't living in America while saving his N20m. Why do you want to use American whatever to take the money from him 😁.? He watched football, ate, had a roof over his head etc while saving the cash. Why would the money or his capability to continue on that path suddenly varnish because he has to continue to eat, watch football and use internet?

chimex38:
Agreed. 20m saving isn't poor in Naija context.
But are we talking Earning or savings?
If savings, the Naija guy saving 20m is mostly never net-of-welfare(Aside usually food). He will have to cater for economic essentials, welfare.
Won't be able to maintain some form of luxury after that while
$15k guys savings is net of expenses--which includes totality of welfare package.
$15k is entirely for luxury as he deems fit

On welfare expansion example:
The Naija guy has no business complaining about MTN data lag and poor upload and download quality. He should buy starlink and fibre cables and put in his house to be at par in life- quality with his $15k counterpart.
be able to stream matches during his busy schedules if he's a football fan by paying any premium cost required like his American counterpart who has several free port and channels to do so.


Same goes for other basics and daily life activities. He should account for them entirely from his earnings so that they are at equal par in quality- of-life.

Then we can now compare who has more finance left for luxury.

When is DR listing? anyone?