| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by PHAYOL81: 8:24pm On Jun 28 |
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. Spot on. our leaders had always been living large |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by jayhans(m): 8:32pm On Jun 28 |
spiSeyi:
Oga what are you saying? Did you have same enlightment as you do now? Or did you do the things that got you where you are now then? Everyone whose life has gotten better between when GEJ was president and now is directly tied to the steps they took. |
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| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by McLizbae: 8:33pm On Jun 28 |
You try! 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. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Kingri: 8:35pm On Jun 28 |
Yourprick:
See Nigeria Tinubu and co enjoyed The Hausas and yourbas has destroyed Nigeria ..Since the creation of this country they have ruled with nothing to show for it What a shame |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by GanagiBitrus: 8:40pm On Jun 28 |
femi4:
Almost 30k dollars, then naira was stronger
$1 = N0.56
That's 46 million naira in today's exchange rate Right, but my point is, Naira keeps getting devalued +more Naira being pumped into circulation. So you keep increasingly needing more Naira to get same value of yesteryears. Same way brand new car then was ~₦5000 and now ~₦50m. |
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| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by ExudeLoveToAll: 8:49pm On Jun 28 |
hisgrace090:
Almost 50k dollars then. That is outrageous, Nigerian politicians are criminals, As at that time even the American President didn't earn that much. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by ExudeLoveToAll: 8:52pm On Jun 28 |
Misterone:
An associate professor was earning N3200 in 1997. So stop this rubbish! Everything is relative to something. That amoywas outrageous for the Nigey president at that time. It was about 50k USD at the time and over 150k USD in today's money. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by ExudeLoveToAll: 8:54pm On Jun 28 |
G0odharddick:
50k was block as of 45years ago.
Nowadays they don't have salary structure, they just loot, reloot and store the money around every corners of the world 🌎
Sadly Nigerians are badly missing GEJ Na 50k USD then , the money was too much. Money that can buy over 10 brand news cars at the time. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Speedy33(m): 9:12pm On Jun 28 |
That 15k means 15kobo not what you meant that slang has not been invented yet 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. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Belurved1(m): 9:18pm On Jun 28 |
No be today e done tale, there wasn't a better Nigeria. To hell with our politicians whether dead or alive. 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. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Mrshape: 9:29pm On Jun 28 |
Gajagojo:
Yes comparison should be like for like
They are talking annually you are talking monthly
Wha rubbish are you talking about
You are the one talking
Rubbish
They are saying annual you are saying monthly
So president's salarary in 1979 was 50000 and associate professor in 1997 according to you is 38000 what is your point? HIs point should be how much is associate professor's salary now. And how much is the president salary now. Let the president be P Associate professor be A P:A =50:38=25:16 If the president is earning 10,000,000 million monthly now An associate professor should be earning 16×10,000,000/25 =16×400,000 =6,400,000. As associates professor should be earning Six million four hundred thousand. Is that what they are earning today? If not the president shouldn't earn his too. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Sensiblerealist: 9:33pm On Jun 28 |
It's 15 kobo ooo .ot fifteen thousand Naira if I get your correctly 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. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by officialfestus(m): 9:37pm On Jun 28 |
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| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by tuzle(m): 9:48pm On Jun 28 |
ExudeLoveToAll:
That amoywas outrageous for the Nigey president at that time. It was about 50k USD at the time and over 150k USD in today's money. the money is annually,so the original salary is less than 5k. He wasn't collecting 50k monthly but is entire salary for the year. Of u guys just read the newspaper, u will see it there. |
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| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by pafun(m): 9:54pm On Jun 28 |
In those times you could buy a decent car for less than N5000, and $1 = N0.65 |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by sowilli: 9:55pm On Jun 28 |
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. this kind of analyses will make you think all is well till you find that you are not was productive as before and that exchange rate is not what determines your social status but your productivity. There is global inflation, yes but when you compare this to the productivity of other nations, you start to see where the problem is. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Melonsmasher: 9:56pm On Jun 28 |
TreasureJunky:
N50k in 1979 is equivalent of 50million in today's amount Did same happen to dollars? |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by jojothaiv(m): 10:06pm On Jun 28 |
Racoon:
Today, the executive and NASS are responsible for about 30% of Nigeria's financial burden. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by jojothaiv(m): 10:08pm On Jun 28 |
Nothing to celebrate though.
Africa particularly Nigeria is still taking giant steps backwards |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Nyanabo2: 10:10pm On Jun 28 |
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. Did it ever come to you mind that the 15k could be 15kobo ? Or you choose to ignore that ? |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Sublimesuccess: 10:13pm On Jun 28 |
Tonididdyx:
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 You are not getting it. Cost of living is high as well. Other things are as expensive as well. I only cited coke as one of numerous needs he needs to fulfil. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Tonididdyx: 10:17pm On Jun 28 |
Sublimesuccess:
You are not getting it. Cost of living is high as well. Other things are as expensive as well. I only cited coke as one of numerous needs he needs to fulfil. It still wouldn’t add up. If he sells 100 corn a day @100 euros Will he spend the entire 100 euros on himself in one day? |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Sublimesuccess: 10:24pm On Jun 28 |
Tonididdyx:
It still wouldn’t add up.
If he sells 100 corn a day @100 euros
Will he spend the entire 100 euros on himself in one day?
He can't have the 100 euros to himself. Do you know how much the landing cost of fresh corn is in the UK? Do you know what his profit margin on one corn is? I am you can't see the bigger picture. |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Tonididdyx: 10:29pm On Jun 28 |
Sublimesuccess:
He can't have the 100 euros to himself. Do you know how much the landing cost of fresh corn is in the UK? Do you know what his profit margin on one corn is? I am you can't see the bigger picture. It’s about landing cost now 🤭 Do traders in the mkt get their goods from the sky b4? You made a ration of 2£ corn to 2£ coke …. Why u not think of landing cost b4 typing a meaningless episode |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Tonididdyx: 10:31pm On Jun 28 |
Sublimesuccess:
He can't have the 100 euros to himself. Do you know how much the landing cost of fresh corn is in the UK? Do you know what his profit margin on one corn is? I am you can't see the bigger picture. Again fresh corn is available on every corner of the planet even in Antarctica corn can be grown! He doesn’t have to ship corn from 9ja as your brain is telling you! He could even grow the corn in a small garden in the UK! 1 Like |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by bluebay(m): 10:37pm On Jun 28 |
Collect one banana chewing gun and.win my.banana |
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| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Sammy249: 12:47am On Jun 29 |
I have said it and will always say it ,agbaga wearing polithiefcians destroyed this country , they meet it in good state and always destroy , this Shagari administration was the beginning of Nigeria's problems the man is an absolute undeserving dullant local teacher that was made president clearly , the same first Republic that destroyed this country it was the first administration that started American style democratic republic because they were trying to copy America a country that prints the u.s dollars , This was the beginning of Nigeria's fall Shaharis bad luck is far worse than Buhari who was his Adc at the time ,imagine two bad lucks carrying presidential files duties of Nigeria. Calamity , to add salt to injury during shagaris administration Nigeria experienced its first economic recession and devalue a d economic osterities shift , the country could not pay scholarships of students abroad in America etc , also the politicians in senate had started stealing at an unprecedented rate from federal to state government the corruption was unprecedented and Nigerians were starting to feel it , that was why his Adc Buhari took power as he saw politicians looting at an unprecedented rate a fashion which started then and continued to 1992 when mko ran for president and the likes of Tinubu became senators in Lagos under SDP the introduction of the new thieves who learnt from thier teachers in the first Republic and the loot still continues , I hate politicians we were never supposed to run federal democracy, Nigeria was colonised by British we should be running a parliamentary system of rule which is more corrupt free 1 Like |
| Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Championhala: 1:15am On Jun 29 |
tuzle:
It seems most of us are not reading well, the 50k is annual salary and not monthly. It is written in the newspaper that #50k a year. So that is about #4,166 monthly. going by the devaluation of both dollar and naira it's more than 8 million a month |
