That 35k would be worth millions then.
and prices cannot remain the same over the years, all because of inflation. A slightly growing inflation shows that an economy is growing.

Now the reason why roofing a house in Nigeria now may be on the high side. is simply because the rate at which cost of items increases isn't in tandem with the rate at which peoples account are growing.

salaries aren't growing at the same rate as inflation, so its making us need more money, making us stress the more. with such stress and more to come in the next 25yrs, our life expectancy ratio in this country should be lower than 52yrs gan

xstry:
You cannot even afford a good kiosk with 35k today.

It will cost 35 million to build same today.

idbami2:
Ah. 10bags of cement, #700.. Aigooo

Abeg, na hw much bi 1 bag of cement now?

#2600/ per bag ooo and na #70 in yr 1992

To rent a self contained now is 150k

money121:
I visit him today... And he brought out this list....
Hope Nigeria will be great again...
Reason of posting this am into Roofing business now and I know how much to roof even a gateman House now

For those that can't See the hand Writing

BUILDING EXPENSES ON ROOFING AND COMPLETION

1. 170 Pieces of Asbestos @#84=#14,280
2. 33 pieces of Ridges @ #50=#1,651
3. 8packets of Roofing nails =#400
4.1 bag of 3" Nails =#315
5. 1 bag of 4" Nails =#320
6. 1 bag of 5" Nail =#340
7. Planks/Transport=#9,971
8. Soligum =#230
9. Oja Agba =#100

Total=#27,407

300blocks 9*9*18 @#57=#1,710
1 Load Sharp Sand =#600
1 Load of gravel =#720
10bags of cement =#700
Carpenter=#500
Bricklayer=#700
Labour= #200
Welder =#105
Water Tank=#120

Grand Total=#32,752
Labour/Roofing=#1500

Grand Total=#34,252

Date: 31-1-1992

This is a Standard House oooo infact one in Town ooo

I wish you could help us with a calculation of how much it would cost in today Nigeria.

Adaowerri111:
16 years misrule contribute

Shut up!
Are you not tired of referring to the past?

To raise 34,000 naira 25 years ago in Nigeria is as add as raising 340,000 naira today.

You can't compare times proportionally.

money121:

#2600/ per bag ooo and na #70 in yr 1992

Blood of Zechariah..
God dey.. We go survive..

Getting the money that time is very hard. My Dad's salary as a principal then was N10,500 monthly.

Money121,

I felt N57 for 9 inch blocks was too high for 25yrs ago.

I looked closer at your dad's records &, BINGO!!!
The amount is N5.70kobo, not N57.

The good old days.

170 Pieces of Asbestos

cancer alert . Time to get a professional to remove the asbestos [size=12pt][/size]

money121:
I visit him today... And he brought out this list....
Hope Nigeria will be great again...
Reason of posting this am into Roofing business now and I know how much to roof even a gateman House now

For those that can't See the hand Writing

BUILDING EXPENSES ON ROOFING AND COMPLETION

1. 170 Pieces of Asbestos @#84=#14,280
2. 33 pieces of Ridges @ #50=#1,651
3. 8packets of Roofing nails =#400
4.1 bag of 3" Nails =#315
5. 1 bag of 4" Nails =#320
6. 1 bag of 5" Nail =#340
7. Planks/Transport=#9,971
8. Soligum =#230
9. Oja Agba =#100

Total=#27,407

300blocks 9*9*18 @#57=#1,710
1 Load Sharp Sand =#600
1 Load of gravel =#720
10bags of cement =#700
Carpenter=#500
Bricklayer=#700
Labour= #200
Welder =#105
Water Tank=#120

Grand Total=#32,752
Labour/Roofing=#1500

Grand Total=#34,252

Date: 31-1-1992

This is a Standard House oooo infact one in Town ooo

The blocks were N5.70 not N57!!!

Shine your eyes...

nigeria was primarily destroyed by military generals.
The military general buhari that is there right now is a very unserios and clueless person.

Consequence of senseless inflation rate the government keeps maintaining over the years

me ryt now

I am sure if you compare the expenses spent on the building with his earnings at that time it is pretty much the same now(In percentage or ratio). Someone who earns 100k monthly now will earn about 30k monthly or even less back then(Even same job). As the income of the general population increases, then surely expenses will follow. N800 back then isn't the same N800 now. Just because a car is sold for N800 in the 80's doesn't mean everyone could afford it. A worker back then will barely earn N1000. It is the same for all nations.

xstry:
the world don spoil, at times e dey do me like say make God just destroy everything wey dey this world. Let's go back to the stone age

what God forbid bad thing! now that i have began to make money and live comfortably, you want everything To be destroyed, you can go back to the stone ages alone if you wish just because you don't want to live in this world anymore doesn't mean other people don't. And oh! becarefull what you wish for it may just come through.
what if you become Rich tomorrow would you still want everything destroyed?

adecz:
Money121,

I felt N57 for 9 inch blocks was too high for 25yrs ago.

I looked closer at your dad's records &, BINGO!!!
The amount is N5.70kobo, not N57.

The good old days.

Thanks for the Correction 5.70k*300=#1,710

Kondomatic:
Making 100 that time may take up to 1 month

You're right, not forgetting the time value of money'.

adecz:


The blocks were N5.70 not N57!!!

Shine your eyes...

Thanks for the Correction 5.70k*300=#1,710

i wouldn't want to go back to that time infact i am lucky not to be born in them days, even though things appear cheaper then some people were still struggling i am sure, i like and enjoy the world of today it is easy to make money thesedays just because some people are poor or struggling thesedays doesn't mean others are.

Superman7:


Shut up!
Are you not tired of referring to the past?

Supermumu was the news about the future?

Smallville10:
where do u live

owerri

fromnigeria:
People have been roofing, are still roofing and will continue to roof even till the next 100years. Change is constant

But truth be told, if people were to earn legally not tru corrupt practices as been witness today, I tell u only few can afford to build n roof a house now....

VickyRotex:
Now even 2M no fit buy material.

I Swear!

We've had lots of inflation, but we should also remember the time value of money...

Maybe we have to calculate the present value of that money, where n=25. Abi is that not 1992 I am seeing there?

Believe or not time then we're harder than now, salaries were meagre in 1992 my elder brother got work as a graduate his salary was,N900 monthly, so to get 35k as your dad spent he has to work for almost 3 years., the rate of inflation under IBB was terrible it can only be compared to Nigeria of recent

By the way your dad's budget from the material bought and quantity is certainly not for full house cos 300 blocks cannot build a house at best a room and verandah

HAH:
Believe or not time then we're harder than now, salaries were meagre in 1992 my elder brother got work as a graduate his salary was,N900 monthly, so to get 35k as your dad spent he has to work for almost 3 years.

By the way your dad's budget from the material bought and quantity is certainly not for full house cos 300 blocks cannot build a house at best a room and verandah

That 300blocks not for main building, just for 2 rooms..
I proposely add it to it becos he roof everything together @ that time..

money121:


That 300blocks not for main building, just for 2 rooms..
I proposely add it to it becos he roof everything together @ that time..

ok but still your dad must have spent more than 35k for the entire building cos my dad build a house then and it consumed over200k, though depending on house type, 1992 was not as fantastic as being painted e don Tey wey Nigeria spoil o

by the way I was in SS2 in 1992

money121:
I visit him today... And he brought out this list....
Hope Nigeria will be great again...
Reason of posting this am into Roofing business now and I know how much to roof even a gateman House now

For those that can't See the hand Writing

BUILDING EXPENSES ON ROOFING AND COMPLETION

1. 170 Pieces of Asbestos @#84=#14,280
2. 33 pieces of Ridges @ #50=#1,651
3. 8packets of Roofing nails =#400
4.1 bag of 3" Nails =#315
5. 1 bag of 4" Nails =#320
6. 1 bag of 5" Nail =#340
7. Planks/Transport=#9,971
8. Soligum =#230
9. Oja Agba =#100

Total=#27,407

300blocks 9*9*18 @#57=#1,710
1 Load Sharp Sand =#600
1 Load of gravel =#720
10bags of cement =#700
Carpenter=#500
Bricklayer=#700
Labour= #200
Welder =#105
Water Tank=#120

Grand Total=#32,752
Labour/Roofing=#1500

Grand Total=#34,252

Date: 31-1-1992

This is a Standard House oooo infact one in Town ooo

Nonesense...and we are still answering one nigeria...fukkkkking nonesense.