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Nairaland Forum / Nairaland / General / Politics / Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) (40880 Views)
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Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Championhala: 1:23am On Jun 29 |
femi4:if naira was stronger how is it $30k,😒🧐 it's more than $65k sef 1 Like |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Championhala: 1:30am On Jun 29 |
Sammy249:👍👏 People like u should comment more on this platform not the sentimental ones, in as much as some were trying to paint it as yearly pay even for an annual salary it was too much. Corruption has always been a part of the Nigerian system. |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by AlhajiCSO: 2:45am On Jun 29 |
TheChameleon:Fergie001 mynd44 nlfpmod Seun Dominique Mukina2 Rule 2 |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by abuhusna1: 3:37am On Jun 29 |
Yourprick:This us like 60k usd of today because naura was bigger than dollar |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Iamanoited: 4:46am On Jun 29 |
THEN IT WAS NAIRA AND VERY SOVEREIGN. BUT NOW, IT IS IGNORANTLY DOLLAR AND FOREIGN. ORISA37 NIGERIA IS ONLY UNITED IN FOOLISHNESS, SILLYNESS AND IGNORANCE. GOD HELP US. |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by seunayantokun(m): 6:09am On Jun 29 |
1979 to 1983, when N1.00 could do great wonders in a family before Shagari ruined the economy and terrorist Buhari took over on 31st of December 1983. |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Sublimesuccess: 6:21am On Jun 29 |
Tonididdyx: In as much as he would not a get a free shower of corn from the sky or go into corn robbery,there's always a profit margin. Simple economics, you are turning a blind eye to. 1 Like |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by obanla01(m): 6:26am On Jun 29 |
Your explanation is quite clear and you made a reasonable point |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Tonididdyx: 6:34am On Jun 29 |
Sublimesuccess:No Charlie you don’t know economic because your initial post made it sound like he was waisting his time |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by djseanjohn77: 8:03am On Jun 29 |
Zxcvbnmghtr: That is not new - Fela sang suffer suffer in the 70s, it was not a joke, he didn't sing it for fun but due to the prevailing poverty. Nigeria was never a better place.... the difference was, less population at the time, and no social media to relay grievances... Rat Race, Majek Fashek, Ras Kimono etc in the 80s etc People have always been hungry and without a voice. That quote above was enormous in that same year - compared to what an average person collects or civil servants. Nigeria's minimum wage in 1981 was N125/month only...that's 1500 pa. dollar rate was about N 0.58 / N0.6. And average person uses bicycle to go to work. A beetle car around 4k in the 80s, and average person can never save up to afford it in 10 years. If an average person was able to save N20 a month, it would take them about 20 years to be able to afford a beetle that year. More so, it was difficult for an average worker to save a dime from their salary then. |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by femi4: 8:55am On Jun 29 |
Championhala:You no do maths for school If you convert a stronger currency to a weak one, the number should drop not increase N50k can't give you anything up to $50k E.g if N1 = $0.5, N50k = 50 x 0.5 = $25k |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by ExudeLoveToAll: 10:35am On Jun 29 |
tuzle: I'm talking about annual salary too, that monthly salary could buy a brand new vehicle at the time. Check what was the minimum wage of the country then and see what I'm talking about. NIGERIAN leaders have never thought about the Nigerian people but their selfish interest. 1 Like |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Championhala: 11:07am On Jun 29 |
femi4:then why is it that 1000 usd is approximately 1.5million if dollar is the stronger currency. I know ur workings are correct but this matter get as e be ![]() ![]() EDIT : See as u wan confuse me it's actually naira that was N0.75 to 1usd N50k = xusd N50000/0.75 ≈ $66000. So I'm correct, abeg no dey confuse person here and u even tell me say I no do maths ![]() |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by femi4: 11:59am On Jun 29 |
Championhala: Anyway Between 1974 and 1985, the naira rocked from $0.63 to $0.894. In 1979 and 1980, the naira was at its strongest as it was $0.596 and $0.550 respectively. https://www.legit.ng/1335475-years-1-naira-strong-us-dollars.html |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Wizdom0091: 5:25pm On Jun 29 |
Sublimesuccess: You made alot of sense |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by benratigan3(m): 5:48pm On Jun 29 |
Sublimesuccess: |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Ubanz: 7:37pm On Jun 29 |
That's about $4,500 monthly. |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by BALLOSKI: 4:17am |
hisgrace090:That is still too high at that time. Shagari was wasteful too. See.what those guys were taking then. It's too much. |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by ucheheart(m): 8:18am |
Sublimesuccess: Hope you read and understood that the N50k is per year, not per month? Divide it by 12 months before comparing with the salary of the crook in power today. |
Re: Shehu Shagari: Nigerian President's Salary In 1979 (Throwback Photo) by Sublimesuccess: 8:56am |
ucheheart: My analysis was made per year not per month. 50000÷12= #4170. Let's change that to dollars based on the forex value that year(1979), that's $6997. Now save that and let's move to 2024. Change that back to naira in 2024 and you'd get about #8,642,000 in a month. That's more than 100 million naira in a year. Relatively our politicians have always received SUPER JUMBO PACKETS! |
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