Yourprick:
See Nigeria Tinubu and co enjoyed

Confam. And 9000 naira would comfortably buy you a Mercedes 230 (regular) Benz at the time.
Our father's enjoyed this country, too bad they couldn't pass the enjoyment down to us.
It's left for us to find out won way.

Sublimesuccess:
Hmmm

That was when my father bought a brand new car for less than #4000. So the annual salary of the president then would buy almost 13 of such cars. Imagine selling that car for 8 million naira in our own time and a modern day president can afford to buy 13 such cars with his BASIC SALARY of 104 million naira. There was corruption then as well.

Even the cover price of the newspaper should tell you something. That newspaper cost 15k then, now it is #300. If you divide #50000 by 15k, it's the same result you get by dividing #100 million by #300, the current price of the newspaper, and I don't even think the official salary of the modern day president is up to #100 million. For the president nowadays to buy the same number of newspapers the annual salary of the president then could buy, he must earn #100 million annually. Let's be relative with the way we think.

Likewise I saw people thinking that the man selling roasted corn in London had struck gold by selling one for £1. Converting the money into naira is a fairy tale. A bottle of coke there is about £2. Imagine selling one cob of corn for £1 and buying a bottle of coke for £2! It's like garbage in, garbage out.

Based on the values copied from Wikipedia below,in 1979, $1=60k, therefore #50,000 then in 1979=$83333.
Let's convert the $83333 back to naira in 2024 when $1=#1235 based on the table, $83333=#103 million. So #50000 then and #103 million today are equal!!! Cutting it down further, #5 in 1979 and #10000 today have the same purchasing strength.

exchange rate is not just the issue,how much was a teacher paid within that period ?

NAIRALAND is Mad.
You see the Poster's post, and decided to Forward it to FrontPage??

Sublimesuccess:
Hmmm

That was when my father bought a brand new car for less than #4000. So the annual salary of the president then would buy almost 13 of such cars. Imagine selling that car for 8 million naira in our own time and a modern day president can afford to buy 13 such cars with his BASIC SALARY of 104 million naira. There was corruption then as well.

Even the cover price of the newspaper should tell you something. That newspaper cost 15k then, now it is #300. If you divide #50000 by 15k, it's the same result you get by dividing #100 million by #300, the current price of the newspaper, and I don't even think the official salary of the modern day president is up to #100 million. For the president nowadays to buy the same number of newspapers the annual salary of the president then could buy, he must earn #100 million annually. Let's be relative with the way we think.

Likewise I saw people thinking that the man selling roasted corn in London had struck gold by selling one for £1. Converting the money into naira is a fairy tale. A bottle of coke there is about £2. Imagine selling one cob of corn for £1 and buying a bottle of coke for £2! It's like garbage in, garbage out.

Based on the values copied from Wikipedia below,in 1979, $1=60k, therefore #50,000 then in 1979=$83333.
Let's convert the $83333 back to naira in 2024 when $1=#1235 based on the table, $83333=#103 million. So #50000 then and #103 million today are equal!!! Cutting it down further, #5 in 1979 and #10000 today have the same purchasing strength.

The politicians had really mismanaged the economy of this country. All the economic problems Nigeria is having today were caused by mismanagement of the country resources both by the military and the politicians

tuzle:
u guys need to go back and read the newspaper. It is clearly stated there that it is yearly salary

even when you divide by 12, shagari earns higher.

jumper524:
even when you divide by 12, shagari earns higher.

I doubt. The amount divided by 12 is less than 5k.

Tjra:
N50,000 na lump sum back then.

These children of nowadays sef 😒

It was the annual salary. .....not monthly.

50,000 naira in 1979 is about $32,000.

$32,000 in 1979 is valued at $145,000 today, with inflation adjusted.

So how much is Tinubu’s salary again?

In which century? how was the salary of bitter grieving Pandora obituary when court enforce him on Anambra?

50k per year.....did everyone on the front that I read or something else? Because I don't understand the comments

Things fall apart

And I'm not talking about the salary but, the value

Zxcvbnmghtr:


Some people have not been able to eat three square meals since GEJ left office because their sustainance was tied to him.

You lied , somebody like me can't afford to buy a PC, pay house rent, school fees and some other Nigerians during GEJ erra and I could remember that I only survive on bread & beans every noon, and most of the woes we found ourselves started with GEJ because he had every opportunity to develop our human resources and diversify our economy when there was oil boom in 2010/2011 during the Arab spring when crude was sold for about 120 USD instead he allowed the likes of Daziani to loot the country dry.
I am not siding any government and all I can say is there's never been a good time in Nigeria government.
But today and to the glory of God I can afford to do anything without stress even when most think that Nigeria has become worse. No Nigerian leader is better since independence except Pres. Umar Musa Yaradua.

Sublimesuccess:
Hmmm

That was when my father bought a brand new car for less than #4000. So the annual salary of the president then would buy almost 13 of such cars. Imagine selling that car for 8 million naira in our own time and a modern day president can afford to buy 13 such cars with his BASIC SALARY of 104 million naira. There was corruption then as well.

Even the cover price of the newspaper should tell you something. That newspaper cost 15k then, now it is #300. If you divide #50000 by 15k, it's the same result you get by dividing #100 million by #300, the current price of the newspaper, and I don't even think the official salary of the modern day president is up to #100 million. For the president nowadays to buy the same number of newspapers the annual salary of the president then could buy, he must earn #100 million annually. Let's be relative with the way we think.

Likewise I saw people thinking that the man selling roasted corn in London had struck gold by selling one for £1. Converting the money into naira is a fairy tale. A bottle of coke there is about £2. Imagine selling one cob of corn for £1 and buying a bottle of coke for £2! It's like garbage in, garbage out.

Based on the values copied from Wikipedia below,in 1979, $1=60k, therefore #50,000 then in 1979=$83333.
Let's convert the $83333 back to naira in 2024 when $1=#1235 based on the table, $83333=#103 million. So #50000 then and #103 million today are equal!!! Cutting it down further, #5 in 1979 and #10000 today have the same purchasing strength.

annual salary

GanagiBitrus:
That's about 45yrs ago.

Meaning at the rate we are going, in 45years time, President's salary may be about ₦5b.

They àre indirectly receiving more than #5b through looting

we all know the crook stole millions same abacha same buhari all crooks from the north

Sublimesuccess:
Hmmm

That was when my father bought a brand new car for less than #4000. So the annual salary of the president then would buy almost 13 of such cars. Imagine selling that car for 8 million naira in our own time and a modern day president can afford to buy 13 such cars with his BASIC SALARY of 104 million naira. There was corruption then as well.

Even the cover price of the newspaper should tell you something. That newspaper cost 15k then, now it is #300. If you divide #50000 by 15k, it's the same result you get by dividing #100 million by #300, the current price of the newspaper, and I don't even think the official salary of the modern day president is up to #100 million. For the president nowadays to buy the same number of newspapers the annual salary of the president then could buy, he must earn #100 million annually. Let's be relative with the way we think.

Likewise I saw people thinking that the man selling roasted corn in London had struck gold by selling one for £1. Converting the money into naira is a fairy tale. A bottle of coke there is about £2. Imagine selling one cob of corn for £1 and buying a bottle of coke for £2! It's like garbage in, garbage out.

Based on the values copied from Wikipedia below,in 1979, $1=60k, therefore #50,000 then in 1979=$83333.
Let's convert the $83333 back to naira in 2024 when $1=#1235 based on the table, $83333=#103 million. So #50000 then and #103 million today are equal!!! Cutting it down further, #5 in 1979 and #10000 today have the same purchasing strength.

Na statistics we go chop?
Did he sell only one corn 🌽? Or does it mean he has to drink 100 coke because he sold 100corn?
You stats are garbage!
He needs to sell 2 roasted corn to buy one coke bottle as he doesn’t need more than a bottle a day, mind you he still has over 50 roasted corn to sell in one day (same day)!
That’s profit in relation to your 2:1 as he doesn’t need more than a bottle of coke a day

Yourprick:
See Nigeria Tinubu and co enjoyed

obasanjo don spoil this country

Obasanjo don spoil this country. No be him suppose take over the democracy of this country, we started on a wrong note

Yourprick:
See Nigeria Tinubu and co enjoyed

Can we get what our present people receive, with/out the juicy allowances...

hisgrace090:
Almost 50k dollars then.

During Shagari time exchange rate was on an average of ₦0.7 per $1. Hence, naira was more valuable. Meaning during Shagari time, President earned equivalent of $35,000. Today $35,000 is ₦52,000,000. How much does President earn today?

spiSeyi:

You lied , somebody like me can't afford to buy a PC, pay house rent, school fees and some other Nigerians during GEJ erra and I could remember that I only survive on bread & beans every noon, and most of the woes we found ourselves started with GEJ because he had every opportunity to develop our human resources and diversify our economy when there was oil boom in 2010/2011 during the Arab spring when crude was sold for about 120 USD instead he allowed the likes of Daziani to loot the country dry.
I am not siding any government and all I can say is there's never been a good time in Nigeria government.
But today and to the glory of God I can afford to do anything without stress even when most think that Nigeria has become worse. No Nigerian leader is better since independence except Pres. Umar Musa Yaradua.

I agree with you wholeheartedly. But do you know that Yar'adua's first term in office as governor of Katsina was termed as the worst? It was his second term that he made a magnificent prosperous difference.

jumper524:
tinubu is earning lesser in today's exchange rate if you factor it then.
in 1979, naira was stronger than dollar.
today the president salary is 2.5 million or so which is less than 2k dollars.

in 1979 it was 2 dollar to a naira which is about 100k dollars
you should do the maths.
shagari been dey cash out big.

I'm not actually comparing President's salaries.
Point is, Naira keeps getting devalued +more Naira being pumped into circulation.
Same way brand new car then was ~₦5000 and now ~₦50m.

hisgrace090:
Almost 50k dollars then.

who told to this nonsense

That was the good old days 😀

Alfred Nze Nnamdi of Capival Investment and a graduate of FUTA Geology and earth science 2017 set is a scam and fraudster, any one that knows his way about should drop hint.

Very intelligent analysis.

that is equivalent of N5million today your leader didn't produce anything to earn foreign exchange to boost currency value,they kept eating up our resources without replenishing the earth.

GanagiBitrus:
That's about 45yrs ago.

Meaning at the rate we are going, in 45years time, President's salary may be about ₦5b.

Almost 30k dollars, then naira was stronger

$1 = N0.56

That's 46 million naira in today's exchange rate

That's a lot. That's still extravagant!

Sublimesuccess:
Hmmm

That was when my father bought a brand new car for less than #4000. So the annual salary of the president then would buy almost 13 of such cars. Imagine selling that car for 8 million naira in our own time and a modern day president can afford to buy 13 such cars with his BASIC SALARY of 104 million naira. There was corruption then as well.

Even the cover price of the newspaper should tell you something. That newspaper cost 15k then, now it is #300. If you divide #50000 by 15k, it's the same result you get by dividing #100 million by #300, the current price of the newspaper, and I don't even think the official salary of the modern day president is up to #100 million. For the president nowadays to buy the same number of newspapers the annual salary of the president then could buy, he must earn #100 million annually. Let's be relative with the way we think.

Likewise I saw people thinking that the man selling roasted corn in London had struck gold by selling one for £1. Converting the money into naira is a fairy tale. A bottle of coke there is about £2. Imagine selling one cob of corn for £1 and buying a bottle of coke for £2! It's like garbage in, garbage out.

Based on the values copied from Wikipedia below,in 1979, $1=60k, therefore #50,000 then in 1979=$83333.
Let's convert the $83333 back to naira in 2024 when $1=#1235 based on the table, $83333=#103 million. So #50000 then and #103 million today are equal!!! Cutting it down further, #5 in 1979 and #10000 today have the same purchasing strength.

It's your type that is supposed to be commenting on this forum.

Kudos

hisgrace090:
Almost 50k dollars then.

30k dollars

Naira was stronger then