₦airaland Forum

jedisco:
Hmmmm... I don't see where this is applicable except in the area of minting/printing the notes

sorry I mean he think the manpower required to earn 1000 usd is same with 1000 naira ..

ositadima1:
Haba! Na only Nigerians and some Africans will keep a pot of stew or soup for that long.

Most people who cook would. Especially if you cook traditional dishes. Most whites would prefer their canned soup they're used to.

You're forgetting that electricity there is a given. Fridge nd freezer is complimentary... Why would you be making stew every few days when you can make a large amount and put in the frezzer... All you have to do is know when to bring them out to the freedge and microwave.

jedisco:
Most people who cook would. Especially if you cook traditional dishes. Most whites would prefer their canned soup they're used to.

You're forgetting that electricity there is a given. Fridge nd freezer is complimentary... Why would you be making stew every few days when you can make a large amount and put in the frezzer... All you have to do is know when to bring them out to the freedge and microwave.

My brother if u keep soup or stew for more than one week d taste go change. When I was with my aunty she would keep soup ration in several plastic containers and freeze. By weekend d taste don change o despite say d food was frozen.

Can food is preserved with additives.

ositadima1:
My brother if u keep soup or stew for more than one week d taste go change. When I was with my aunty she would keep soup ration in several plastic containers and freeze. By weekend d taste don change o despite say d food was frozen.

Can food is preserved with additives.

Na lie, your tongue dey faulty

ahiboilandgas:
sorry I mean he think the manpower required to earn 1000 usd is same with 1000 naira ..

You have succeeded in confusing me.

EkperemoEgbabi:
Na lie, your tongue dey faulty

Hehe...abeg help me tell am.

Most families would buy food that can be frozen in bulk, freeze them and use for months.

Except the fridge/freezer is spoilt but why would frozen stew change taste over 2 weeks.

How many people in the West would be cooking our elaborate naija stew/soup every few days. Even in Nigeria, people who have access to steady light keep soup for upto a month in the freezer and the taste no dey change

It's similar to how people say food cooked with firewood is sweeter...lol...na sufferhead mentality

EkperemoEgbabi:
Na lie, your tongue dey faulty

Lol, it is science na, freezing will slow down bacteria but won't kill them. He fit be true sha, my taste buds fit dey at fault.

ahiboilandgas:
sorry I mean he think the manpower required to earn 1000 usd is same with 1000 naira ..

Would also disagree...
It takes much more to earn 1000usd than 1000 naira.

A labourer in Nigeria would averagely earn between 1-2k daily. I dont know of any regular job paying 1000 usd daily in the US

ositadima1:
My brother if u keep soup or stew for more than one week d taste go change. When I was with my aunty she would keep soup ration in several plastic containers and freeze. By weekend d taste don change o despite say d food was frozen.

Can food is preserved with additives.

Never experienced this... Except the frezzer no dey work... In the fridge taste may change though

jedisco:
Would also disagree...
It takes much more to earn 1000usd than naira.

A labourer in Nigeria would averagely earn between 1-2k daily. I dont know of any regular job paying 1000 usd daily in the US

I think one way to know which country is cheaper to live in is to compare what fraction of earnings (for similar standard jobs like lawyers, engineers, doctors etc) is spent on similar commodities.

jedisco:
Would also disagree...
It takes much more to earn 1000usd than naira.

A labourer in Nigeria would averagely earn between 1-2k daily. I dont know of any regular job paying 1000 usd daily in the US

so that means 1000 dollar =not equal to 1000 naira hence 1 usd is not equal to 1 naira

jedisco:
Some people are misrepresenting the currency conversion thing and are not considering the relativity which is the bedrock of the discussion. It's like comparing apples to oranges.

The fact is that even though basic items in $/£ may be more expensive when directly converted into Naira, looking at them in real terms, you'd see they are cheaper for those living and earning in the west. That's the advantage of having a stable currency with a high standard of living

Take certain examples.
1. Someone earning about 150-200k in Nigeria should roughly earn between £2000-3000 after tax working in a similar field abroaf. Asides rent (£350-550 or 15-25% monthly), you're likely to spend a greater percentage of your income on virtually every other aspect of living and still get a lower standard for such if you were in Nigeria.

Take food for e.g. Even if you set out to be obese, as far as u cook your food, it'd be very difficult to spend over £200-300 a month on feeding. £10-£15 would make you a full pot of stew which will include a large sized chicken, 3-4pcs of large mackerel, good quality rice + fresh vegetables/salad to go along. That pot would easily last a single person 2 weeks. Now what percentage of income has been spent about 0.5%. Someone in Nigeria would spend about 7,500 asides fuel for generator to get such which will translate to about 5% of their pay.

2. The scenario above cuts across virtually every other aspect like clothing, gadgets e.t.c. The only things relatively more expensive in the West are accomodation and cost of labour (if you're paying someone to do a job).

The same ratio would apply to fueling vehicles. Even though fuel is more expensive in Nigeria, you'd spend proportionately much more of your income fueling your vehicle than if you were in the west.

Take other examples;

3. Minimum wage in the UK is currently £8.7/hr. Most people earn more. Even if you take away tax (which they'd be paying very little if at all), a person earning that would likely live a more comfortable life than someone earning 100k in Nigeria not to talk of the 30k federal minimum wage and much lower amounts even graduates earn with states or the private sector.

The least one can get a male haircut is £10 (can easily be upto £30). Much more for a female hair do. So anyone doing any regular job, should earn enough to live life to some standard.
In Western countries, it really should be called a minimum living wage and conversely a barely surviving wage in Nigeria. Some people sit at home all day and still earn stipends from the government which are enough to cater for certain things.

More examples...
4.The chap in the UK would from his 1month pay be able to sponsor himself to a regular holiday in any part of the world. The chap in Nigeria would have to save for several months just to get a flight ticket not to talk of visa fees e.t.c
There's a reason why developed countries have the most number of travelers/tourists. Most Nigerians/Africans don't travel for leisure even within Nigeria/Africa because we cannot afford it. A return ticket to nearby Ghana is well over 100k. A return ticket from between UK and France can easily be less than £50 or £100 for most parts of Europe

Same applies to phones, cars vehicles e.t.c.

Most of the used clothes, London phones and used/tokumbo (what we laughably now call brand new) cars we buy in Nigeria are items used by regular people in the West. Ask yourself why our middle class have been reduced to such if Nigeria was cheap.

What percentage of Nigerians would their total one year salary give them a recent tokumbo vehicle talk more of a new one. Someone in the west can get something similar with a few months pay and can even take a long soft loan for it.

Also, living in a developed society comes with some perks... There are always benefits to claim on certain items, you can easily get items and structure paying back over a while, most items bought new (no matter the price) are of relatively good quality because of consumer protection laws and a robust return policy, there'd always be a standard playground around where you can take kids to play for free, driving good vehicles/going on holidays/using recent gadgets all of a sudden would be regular items for you and not luxury. There's also good quality 'free' healthcare in alot of places

Like I said the only time when you may pay relatively higher is in paying for labour or accomodation. Even at that, you still get a better quality.

This is a different argument and angle entirely. Somebody is equating $1,000 to N1,000 i.e. an exchange rate of $1 to N1 as his basis of argument which is completely wrong because $1,000 is presently not N1,000.

ositadima1:
I think one way to know which country is cheaper to live in is to compare what fraction of earnings (for similar standard jobs like lawyers, engineers, doctors etc) is spent on similar commodities.

Yeah.. I agree it'd be a more practical way to compare.

If you do that, you see that Nigeria is much more expensive to live in and afford the basic necessities of survival even without factoring other important things like security, health, good education, good infrastructure e.t.c.


The main factor beclouding thus is that most Nigerians are poor so if you have little, they see you as king. It's like being a one eyed man in the land of the blind

Take for example, a single dude in Nigeria earning between 150-250k, driving a 2008 car, living in a good apartment and using a recent gadget. Alot of people would see and treat that person as having 'arrived'. Family men will be hailing him at his workplace as 'Oga' and all giving advice on why he should get married asap.
In the West, all those items mentioned up there are things people wouldn't care about talk more of associating them with affluence

ahiboilandgas:
so that means 1000 dollar =not equal to 1000 naira hence 1 usd is not equal to 1 naira

Of course... That's a fact

The dollar is clearly more valuable than the naira whichever way you look at it, but your dollars goes further if spent in Nigeria compared to the us.

Since dollar is not the standard earning medium in Nigeria, there's no use comparing.


For the argument to make sense, the minimum wage in the us has to be equal to that of Nigeria nominally. Eg minimum wage in the us is 1k dollars, then Nigeria's minimum wage will be 460k naira.

In which case Naira will have more value because you can get a lot more bang for your buck spending the 460k in Nigeria.

Caveat , if this was the case, Naira will become too abundant chasing fewer goods which will in turn lead to hyper inflation, hence back to square one.

Also imagine a Nigerian and an American trying to buy property in South Korea , who has more spending power?

Since no country produces everything it needs it's better to view the value of a currency from its global strength.

Nigsrdumb:
The dollar is clearly more valuable than the naira whichever way you look at it, but your dollars goes further if spent in Nigeria compared to the us.

Since dollar is not the standard earning medium in Nigeria, there's no use comparing.


For the argument to make sense, the minimum wage in the us has to be equal to that of Nigeria nominally. Eg minimum wage in the us is 1k dollars, then Nigeria's minimum wage will be 460k naira.

In which case Naira will have more value because you can get a lot more bang for your buck spending the 460k in Nigeria.

Caveat , if this was the case, Naira will become too abundant chasing fewer goods which will in turn lead to hyper inflation, hence back to square one.

Also imagine a Nigerian and an American trying to buy property in South Korea , who has more spending power?

Since no country produces everything it needs it's better to view the value of a currency from its global strength.

Great Writeup

Nigsrdumb:
The dollar is clearly more valuable than the naira whichever way you look at it, but your dollars goes further if spent in Nigeria compared to the us.

Since dollar is not the standard earning medium in Nigeria, there's no use comparing.


For the argument to make sense, the minimum wage in the us has to be equal to that of Nigeria nominally. Eg minimum wage in the us is 1k dollars, then Nigeria's minimum wage will be 460k naira.

In which case Naira will have more value because you can get a lot more bang for your buck spending the 460k in Nigeria.

Caveat , if this was the case, Naira will become too abundant chasing fewer goods which will in turn lead to hyper inflation, hence back to square one.

Also imagine a Nigerian and an American trying to buy property in South Korea , who has more spending power?

Since no country produces everything it needs it's better to view the value of a currency from its global strength.

I agree the USD is now more valuable in economic terms, but then, even if you earn 460k, it may seem like much initially but then, it'd soon become obvious that there are lots of things you benefit for free from by being in a developed country that the 460k wouldn't get.

There's a reason why it's said that an average citizen of a rich country would unknowingly be treated with more respect than a wealthy citizen of a poor country.


Like I said in a post above, earning that amount in Nigeria looks big only because it'd make you a king among poor folks...

But then with your 460k, look at the chance of needing urgent advanced medical attention for you or relatives or the chance of being kidnapped and paying your life saving as ransom, or the chance of having an accident because of potholes on the road, or the fear of going to the village with ur new vehicle, or the fact that you'd have people begging you at every opportunity..... and you'd see that 460k isn't worth it. Even the facilities that make our Wuse, Gwarimpa, Banana Island and Ikoyi special can best be compared to basic items you'd get in any town in the UK.

In the UK for example, even as a millionaire, you can cycle to work without worries, you can get on the public train and not be worried about your safety, if you need urgent medical attention, an ambulance would come relatively quick, you can be driving a 2020 Camry and nobody cares, you're not worried about being kidnapped or being attacked by armed robbers, if you loose your job or become handicapped, the government would support you.... All these are necessary for having a quality life and come for free buy they are things that millions in Nigeria wouldn't afford

jedisco:
I agree the USD is now more valuable in economic terms, but then, even if you earn 460k, it may seem like much initially but then, it'd soon become obvious that there are lots of things you benefit for free from by being in a developed country that the 460k wouldn't get.

There's a reason why it's said that an average citizen of a rich country would unknowingly be treated with more respect than a wealthy citizen of a poor country.


Like I said in a post above, earning that amount in Nigeria looks big cos it'd make you a king among poor folks...

But then with your 460k, look at the chance of needing urgent advanced medical attention for you or relatives or the chance of being kidnapped and paying your life saving as ransom, or the chance of having an accident because of potholes on the road, or the fear of going to the village with ur new vehicle, or the fact that you'd have people begging you at every opportunity..... and you'd see that 460k isn't worth it.

In the UK for example, even as a millionaire, you can cycle to work without worries, you can get on the public train and not be worried about your safety, if you need urgent medical attention, an ambulance would come relatively quick, you can be driving a 2020 Camry and nobody cares, you're not worried about being kidnapped or being attacked by armed robbers, if you loose your job or become handicapped, the government would support you.... All these are necessary for having a quality life and come for free buy they are things that millions in Nigeria wouldn't afford

All well and good bottom line, it's not our fathers land, Nigeria is.

Nigsrdumb:
All well and good bottom line, it's not our fathers land, Nigeria is.

Finally, that's what makes the difference- our connections, fond memories and familiar culture in Nigeria and the fact that Nigeria is the only country we can truly call our own.

jedisco:
I agree the USD is now more valuable in economic terms, but then, even if you earn 460k, it may seem like much initially but then, it'd soon become obvious that there are lots of things you benefit for free from by being in a developed country that the 460k wouldn't get.

There's a reason why it's said that an average citizen of a rich country would unknowingly be treated with more respect than a wealthy citizen of a poor country.


Like I said in a post above, earning that amount in Nigeria looks big only because it'd make you a king among poor folks...

But then with your 460k, look at the chance of needing urgent advanced medical attention for you or relatives or the chance of being kidnapped and paying your life saving as ransom, or the chance of having an accident because of potholes on the road, or the fear of going to the village with ur new vehicle, or the fact that you'd have people begging you at every opportunity..... and you'd see that 460k isn't worth it. Even the facilities that make our Wuse, Gwarimpa, Banana Island and Ikoyi special can best be compared to basic items you'd get in any town in the UK.

In the UK for example, even as a millionaire, you can cycle to work without worries, you can get on the public train and not be worried about your safety, if you need urgent medical attention, an ambulance would come relatively quick, you can be driving a 2020 Camry and nobody cares, you're not worried about being kidnapped or being attacked by armed robbers, if you loose your job or become handicapped, the government would support you.... All these are necessary for having a quality life and come for free buy they are things that millions in Nigeria wouldn't afford

Nothing is free.
You pay for it all.

Cyberknight:
Nothing is free.
You pay for it all.

Which is better: to pay and have access to it? Or to pay and still have epileptic supply of it e.g. electricity, good roads, clean water, education etc..

Nigeria will be better in the future. It is our home, we have to be clear though about our reality so that we can properly chart the course of our future. - for the sake of our children, and our children's children.

Tabuse2024:
Which is better: to pay and have access to it? Or to pay and still have epileptic supply of it e.g. electricity, good roads, clean water, education etc..

Nigeria will be better in the future. It is our home, we have to be clear though about our reality so that we can properly chart the course of our future. - for the sake of our children, and our children's children.

I'm not disagreeing with the taxpayer-funded social insurance systems available in many western countries.
I am simply pointing out that they are not free, as the poster I quoted said.

Cyberknight:
I'm not disagreeing with the taxpayer-funded social insurance systems available in many western countries.
I am simply pointing out that they are not free, as the poster I quoted said.

Jedisco has made very valid points so far. That may be an oversight. In general though, I do not think he is wrong.

Tabuse2024:
Jedisco has made very valid points so far. That may be an oversight. In general though, I do not think he is wrong.

I only disagreed with the bolded portion I quoted, which was why I highlighted it in the first place.

Cyberknight:
I only disagreed with the bolded portion I quoted, which was why I highlighted it in the first place.

Agreed.

jedisco:
I agree the USD is now more valuable in economic terms, but then, even if you earn 460k, it may seem like much initially but then, it'd soon become obvious that there are lots of things you benefit for free from by being in a developed country that the 460k wouldn't get.

There's a reason why it's said that an average citizen of a rich country would unknowingly be treated with more respect than a wealthy citizen of a poor country.


Like I said in a post above, earning that amount in Nigeria looks big only because it'd make you a king among poor folks...

But then with your 460k, look at the chance of needing urgent advanced medical attention for you or relatives or the chance of being kidnapped and paying your life saving as ransom, or the chance of having an accident because of potholes on the road, or the fear of going to the village with ur new vehicle, or the fact that you'd have people begging you at every opportunity..... and you'd see that 460k isn't worth it. Even the facilities that make our Wuse, Gwarimpa, Banana Island and Ikoyi special can best be compared to basic items you'd get in any town in the UK.

In the UK for example, even as a millionaire, you can cycle to work without worries, you can get on the public train and not be worried about your safety, if you need urgent medical attention, an ambulance would come relatively quick, you can be driving a 2020 Camry and nobody cares, you're not worried about being kidnapped or being attacked by armed robbers, if you loose your job or become handicapped, the government would support you.... All these are necessary for having a quality life and come for free buy they are things that millions in Nigeria wouldn't afford

how about the gun violence in the Us ,white supremacy over 36000 people have been killed that equal to all death by boko haram and kidnappers in Nigeria..

Nigsrdumb:
All well and good bottom line, it's not our fathers land, Nigeria is.

and u can be killed by white police for just been black....

ahiboilandgas:
how about the gun violence in the Us ,white supremacy over 36000 people have been killed that equal to all death by boko haram and kidnappers in Nigeria..

Permit me to reply:

Here we have a booming banditry scourge, military generals are even getting killed, tribalism (our type of racism) still thrives, armed robbery, raping, looting etc.

The US, UK, Canada have all their own challenges just like ours. But can we truly factor these in when comparing quality of life there in relation to ours?

I mean if I am a multi millionaire in dollars living over there, could i be shielded from majority of these issues compared to here?

This may make for a good discussion.

RayRay06677:
Which one is v bank

I don't know about v bank but I know of a company that can give you 10% APY on your investments. If you invest #100,000 you get #110,000 annually. It is a blockchain technology company registered here in Nigeria. REG NO: 30006123. Send an email to ceo@classicornerstonecas.space or skojusola@yahoo.com for more inquiries. You can also send a TEXT to 08057755907.

pesty100:
V bank is paying 14% per annum on fixed deposits, has anybody here done businesses with them before?

I don't know about v bank but I know of a company that can give you 10% APY on your investments. If you invest #100,000 you get #110,000 annually. It is a blockchain technology company registered here in Nigeria. REG NO: 30006123. Send an email to ceo@classicornerstonecas.space or skojusola@yahoo.com for more inquiries. You can also send a TEXT to 08057755907

Tabuse2024:
Permit me to reply:

Here we have a booming banditry scourge, military generals are even getting killed, tribalism (our type of racism) still thrives, armed robbery, raping, looting etc.

The US, UK, Canada have all their own challenges just like ours. But can we truly factor these in when comparing quality of life there in relation to ours?

I mean if I am a multi millionaire in dollars living over there, could i be shielded from majority of these issues compared to here?

This may make for a good discussion.

All die na die....a white supremacist can just kill u for no reason in America for just been black..my uncle that when to America son was killed in wincosin for been married to a white...after repeated treath of harm....while in rich in Nigeria might battle all this like wise the one in America too can be wipe out by wild fire ...

Tabuse2024:
Permit me to reply:

Here we have a booming banditry scourge, military generals are even getting killed, tribalism (our type of racism) still thrives, armed robbery, raping, looting etc.

The US, UK, Canada have all their own challenges just like ours. But can we truly factor these in when comparing quality of life there in relation to ours?

I mean if I am a multi millionaire in dollars living over there, could i be shielded from majority of these issues compared to here?

This may make for a good discussion.

u have factor it in .....even thing like wild fire can wipe u and ur property out....must migrants are only driven by economic reasons and more oppurnties which i understand.....very rich Nigerians stay in Nigeria