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1978 Naira Exchange Rate With Dollar - Business (4) - Nairaland

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Re: 1978 Naira Exchange Rate With Dollar by Jangbajantis: 2:46pm On Feb 01
Agboriotejoye:

You mean IBB that left office in 1993 is still the reason your currency lost over 200% value in 2024.
And you say you have a brain
That idiot is an APC programmed bot. You sef can't tell when to stop arguing with a fool.
Re: 1978 Naira Exchange Rate With Dollar by Peterpanny: 2:46pm On Feb 01
system21:

₦10,220 according to the news paper, abi eyes dey pain you
him get low understanding come get serIous eye problem.
Re: 1978 Naira Exchange Rate With Dollar by lexy2014: 2:47pm On Feb 01
TimeManager:

If the country was healthy as you claimed, then why was there a coup by the military?. According to the coupists, the country was messed up in corruption and they needed to cleanse the system of corrupt politicians, which Azikwe was the President. So why would you absorb igbo?

-kiss the truth!

Dude, when Azikiwe was President, was he charge of the country?

what type of powers did he have as president?

what system of government was Nigeria running at the time?

1 Like

Re: 1978 Naira Exchange Rate With Dollar by Konquest: 2:48pm On Feb 01
system21:
The Nigeria of 1978, $13,100 was ₦10,220. What is the rate today? Bad leadership and corruption destroyed our economy.
Once upon a time in Nigeria, Naira was above dollar. That was when we were GIANT of Africa. Not anymore.
Then, $13,100 was ₦10,220
Today, $13,100 is ₦19,650,000.

Congratulations to all the supporters of failed government and corruption

It's what it is.

But back in 1978, the wages were smaller and there was mass importation of luxury items and the department stores (such as the iconic Kingsway Stores and Leventis that I liked visiting back then with my folks) all had majorly foreign consumer products on display. It was after the oil boom that the chicken came to roost and the scales fell off the eyes of a lot of folks.

The real japa movement (The "Andrew checking out" TV ad phenomenon) in Nigeria started in the early 1980s and gained full blast from the late 1980s NOT now.

1 Like 2 Shares

Re: 1978 Naira Exchange Rate With Dollar by Bobloco: 2:48pm On Feb 01
broadman20:



What is wrong with this block head Abeg?

What was the exchange rates of our 10k to the dollar as at that time?

Why are you avoiding that question?

I see why this people will always using you people as RAGS.

No ability to think properly.

Bro, my question has nothing to do with the exchange rate.


My question is centered on what ₦10,220 could afford in 1978, comparing it to what it can afford today.

Do you get the gist, bro?

1 Like

Re: 1978 Naira Exchange Rate With Dollar by PARADIZEPRIEST: 2:50pm On Feb 01
THAT WAS WHEN CIVIIZED PEOPLE WERE RULING YOU NA. cheesy
Why did you opt for independence?
What is the benefit or disadvantage of your independence now?
Advantage:
ONLY ONE,you Rule yasef,control your resources.

Disadvantages:
UNCOUNTABLE
Avoidable1966coup;
Acute tribalism causing division of interests;
Disgusting religious bigots;
Perenially corrupt socioeconomic system:
Mass illiterates sustained to misinform the citizens to remain in the dark of govt policies;
Govt run by Godless ,uncivilized ,crude charaters and their chronies propagandist of divisive culture put to misrule the citizens till 2023,
Ratio of: 5000super rich by embesslement to 200million peoples struggling with me poverty
IF, BRITAIN CAME BACK IN YEAR2015,THERE WONT BE ANY JAPA MENACE. angry
Re: 1978 Naira Exchange Rate With Dollar by Funkyswagzz(m): 2:51pm On Feb 01
TimeManager:

IBB was not under pressure?, Lol, kids everywhere.

-kiss the truth!

Exactly the question I asked buh ur brain can't comprehend. Obviously he wasn't under any pressure. He was the president so he has the choice to make any decision and he took a bad one. Stop blaming igbos u fool

1 Like

Re: 1978 Naira Exchange Rate With Dollar by Tonididdyx: 2:52pm On Feb 01
broadman20:



What is wrong with this block head Abeg?

What was the exchange rates of our 10k to the dollar as at that time?

Why are you avoiding that question?

I see why this people will always using you people as RAGS.

No ability to think properly.

Our 10k was 13k$
The naira was stronger than the dollar clearly in the photo!
Re: 1978 Naira Exchange Rate With Dollar by VeeVeeMyLuv(m): 2:52pm On Feb 01
Bobloco:


Your foolery is legendary

But let me help you out

Can you compare the value of ₦10,220 in 1978 with today's value
If you had 10,220 naira in 1978 and left it in bank without converting it till today 2024, will it not be reduced to 2024 value?

But if it was converted to dollars

In today Nigeria it will be worth 10m

2 Likes 1 Share

Re: 1978 Naira Exchange Rate With Dollar by OVB123: 2:52pm On Feb 01
Bobloco:

I don't mean the Naira value
I am referring to the dollar value
Re: 1978 Naira Exchange Rate With Dollar by broadman20: 2:54pm On Feb 01
Bobloco:


Bro, my question has nothing to do with the exchange rate.


My question is centered on what ₦10,220 could afford in 1978, comparing it to what it can afford today.

Do you get the gist, bro?


Your questions sounds like one who came to distract the topic,

He was talking about the Naira exchanging to the dollar at the rate of 10k to 13k and you came with your question.

What was your intentions if not to derail the conversation?
Re: 1978 Naira Exchange Rate With Dollar by Tonididdyx: 2:55pm On Feb 01
Bobloco:


Bro, my question has nothing to do with the exchange rate.


My question is centered on what ₦10,220 could afford in 1978, comparing it to what it can afford today.

Do you get the gist, bro?
You sef still use your head and think.

That 10200 was the grand prize money for a golf tournament. We all know golf is for the rich,
A local golf tourney in a 3rd tier pot bellied group of men has the lowest price at 1m or more in today's time.

That 10200 should be nothing less than a million naira today!
... We both know how much 13k dolls is today!

1 Like

Re: 1978 Naira Exchange Rate With Dollar by Bigkoko: 2:57pm On Feb 01
Even after the war, the Naira was performing more better than the GP & USD. You know why? The children of Gad aka the wondering Jews of West Africa built an economy that could easily rival any average country in Europe, in terms of infrastructures, man power and real sector economy!

After the war, my late dad settled in the mid West and bought three properties; a Road Master buick, a peogeut & a stretch of building sold out by the family of a fellow Igbo....
The Buick was 56NGN, the peogeut was about 350NGN and the house was roughly 12,000NGN. Standard western styled house.

The receipts and other artifacts still form part of my personal collection's including charts and other's!

The worse thing that happened to black Africa was actually allowing idiots to lead Nigeria since 1970!

Well, expect those with corn in their back pocket to think otherwise... anyway, happy Ebi pa won!

Let's go down spiritually!

Britain exchanged the destiny of Nigeria with her own!

As late as 1980, Britain lay in ruins.....
Re: 1978 Naira Exchange Rate With Dollar by blacknp(m): 2:57pm On Feb 01
Bobloco:


So you are benefiting from the naira crash

Reason you want Tinubu to continue wrecking the economy
Docile Man Mr Colorado Bob, go and spend more time in the business section, so you can formulate a plot to make foreign exchange, wailing in the politics section no dey put money for pocket.
Re: 1978 Naira Exchange Rate With Dollar by crossbreedwears(m): 3:00pm On Feb 01
Which IBB or Shehu Shagari
Agboriotejoye:

IBB in 1978

They apply brain to this Zombiesm na 🧟‍♂️ 🧟‍♂️
Re: 1978 Naira Exchange Rate With Dollar by Taich(m): 3:00pm On Feb 01
TimeManager:

How did we get here?.
How can somebody with a brain skip an IBB era which was the begining of the economic disaster and then fly into 2024?, how possible?. Use your brain.

-kiss the truth!
.

Buhari was at helm of affairs before IBB.
Re: 1978 Naira Exchange Rate With Dollar by salem1996: 3:02pm On Feb 01
TimeManager:
Kids of nowadays, SMH!. When you stopped history in schools, this is what you get- ignorance!, blissful ignorance!. If you knew the level of great hardships that our parents went through during the period, you won't be here heaping a satanic worship on a man who initiated the begining of economic woes on Nigeria. With the introduction of SAP, IBB destroyed the economic foundation and progress of the country. In one fell swoop, naira was devalued by 500%, then up to 2000%, our debts increased to about $34billion, inflation rose to 54%. We could barely service our short term loans and thus, sellers overseas were reluctant to sell goods to us. Till today, we haven't recovered from SAP, IMF, World Bank captivities that IBB led us into and guess who was the Finance minister at the time, an economist and an ex-World Bank staff, Dr Kalu Idika. Kalu. If there's anyone that should be tied to stake and shot, it is these two evil geninuses.

-kiss the truth!

Oga, 38billion dollar keh. . Habah Oga dear God. It was $5B
Re: 1978 Naira Exchange Rate With Dollar by YorubaRonu01: 3:05pm On Feb 01
TimeManager:

If the country was healthy as you claimed, then why was there a coup by the military?. According to the coupists, the country was messed up in corruption and they needed to cleanse the system of corrupt politicians, which Azikwe was the President. So why would you absorb igbo?

-kiss the truth!
Bro use your brain and study your history well, let them just take us to Nigeria of last ten years, (2014), the joy will be endless!
You're here proving how 1978 was worst than today!!
I spit on your truth, Tufiakwa!!!
Re: 1978 Naira Exchange Rate With Dollar by idanone(m): 3:06pm On Feb 01
Bobloco:


I don't mean the Naira value

I am referring to the dollar value
divide the dollar/ naira it will give you the answer you desire.
Re: 1978 Naira Exchange Rate With Dollar by lexy2014: 3:06pm On Feb 01
TimeManager:
Kids of nowadays, SMH!. When you stopped history in schools, this is what you get- ignorance!, blissful ignorance!. If you knew the level of great hardships that our parents went through during the period, you won't be here heaping a satanic worship on a man who initiated the begining of economic woes on Nigeria. With the introduction of SAP, IBB destroyed the economic foundation and progress of the country. In one fell swoop, naira was devalued by 500%, then up to 2000%, our debts increased to about $34billion, inflation rose to 54%. We could barely service our short term loans and thus, sellers overseas were reluctant to sell goods to us. Till today, we haven't recovered from SAP, IMF, World Bank captivities that IBB led us into and guess who was the Finance minister at the time, an economist and an ex-World Bank staff, Dr Kalu Idika. Kalu. If there's anyone that should be tied to stake and shot, it is these two evil geninuses.

-kiss the truth!

bros. wait oh. what was the economic foundation that existed between 1983 and 1985 when Buhari was head of state before IBB took over that you say IBB destroyed?

are you saying that between 1983 and 1985, there was no great level of hardship?
Re: 1978 Naira Exchange Rate With Dollar by TimeManager(m): 3:06pm On Feb 01
..
Re: 1978 Naira Exchange Rate With Dollar by Konquest: 3:08pm On Feb 01
TimeManager:
Kids of nowadays, SMH!. When you stopped history in schools, this is what you get- ignorance!, blissful ignorance!. If you knew the level of great hardships that our parents went through during the period, you won't be here heaping a satanic worship on a man who initiated the begining of economic woes on Nigeria. With the introduction of SAP, IBB destroyed the economic foundation and progress of the country. In one fell swoop, naira was devalued by 500%, then up to 2000%, our debts increased to about $34billion, inflation rose to 54%. We could barely service our short term loans and thus, sellers overseas were reluctant to sell goods to us. Till today, we haven't recovered from SAP, IMF, World Bank captivities that IBB led us into and guess who was the Finance minister at the time, an economist and an ex-World Bank staff, Dr Kalu Idika. Kalu. If there's anyone that should be tied to stake and shot, it is these two evil geninuses.

-kiss the truth!
You got the historical and economic facts right.
SAP under the military government of General IBB was the genesis of the economic damage to the Nigerian economy of which she never recovered from till date.

It was in the very corrupt military era of the late 1980s that the japa phenomenon fully gained momentum, many expats from Ghana, Jamaica, India, USA, UK, who had lived and worked in the higher academic institutions and industries in Nigeria during the oil boom years of the 1970s, had to start leaving for greener pastures in Canada, USA, etc, and the name "Tokunbo" and "Belgium" came to be used regularly as colloquial terms in newspaper publications and on the street level because some folks started importing pre-owned cars from Belgium and Germany instead of buying new ones from the assembly plants in Nigeria back in the late 1980s due to high cost.

1 Like 1 Share

Re: 1978 Naira Exchange Rate With Dollar by lexy2014: 3:09pm On Feb 01
Bobloco:


Bro, my question has nothing to do with the exchange rate.


My question is centered on what ₦10,220 could afford in 1978, comparing it to what it can afford today.

Do you get the gist, bro?

how are you comparing what 10,220naira could afford in 1978 with what the same amount can afford today?

1 Like

Re: 1978 Naira Exchange Rate With Dollar by headboyprince(m): 3:09pm On Feb 01
honor4me:


Exactly bro and what exactly were they buying at that amount. Ho much is the same in Naira amount today.
simple logic that 10k at that time could buy you a private yatch. it was huge money
Re: 1978 Naira Exchange Rate With Dollar by translux(m): 3:10pm On Feb 01
1.07 was the dollar rate to Naira in 1978
Re: 1978 Naira Exchange Rate With Dollar by agaliboy: 3:14pm On Feb 01
Aguiyi Ironsi no be igbo man ba?. Dey play

FourQu:


Nigeria was a healthy country when nnamdi forced us to be together.

After then other tribes said no igbo man will ever rule Nigeria and then the country started nosediving till it reached its current depths today.

So you can't blame the igbo man for the rundown state of the country, you can only blame azikiwe for forcing us to be together even though his people could never rule the country.

So don't blame the igbo for Nigeria rot. Blame the hausas, fulani and yorubas.

1 Like

Re: 1978 Naira Exchange Rate With Dollar by Neniim: 3:14pm On Feb 01
If you think Nigeria is like a bush meat hit like otherwise click share cool
Re: 1978 Naira Exchange Rate With Dollar by TimeManager(m): 3:16pm On Feb 01
Funkyswagzz:


Exactly the question I asked buh ur brain can't comprehend. Obviously he wasn't under any pressure. He was the president so he has the choice to make any decision and he took a bad one. Stop blaming igbos u fool
Who told you he was not under pressure?. When you grow up, you'd understand what we talking about.

-kiss the truth!
Re: 1978 Naira Exchange Rate With Dollar by rainluv: 3:16pm On Feb 01
Irredeemable fools full this page
Tueh...
Re: 1978 Naira Exchange Rate With Dollar by rainluv: 3:17pm On Feb 01
TimeManager:

Who told you he was not under pressure?. When you grow up, you'd understand what we talking about.

-kiss the truth!

You stupidity!!!
So your god Tinubu should destroy it further?😏
Awon werey!!
Re: 1978 Naira Exchange Rate With Dollar by ManOfSon: 3:17pm On Feb 01
This post has 28 likes and 12 shares already even though it's a lie.

Babangida was not the Nigerian head of state in 1978!

But self-interest, ignorance, conceit, tribalism makes some people blind.

TimeManager:
Kids of nowadays, SMH!. When you stopped history in schools, this is what you get- ignorance!, blissful ignorance!. If you knew the level of great hardships that our parents went through during the period, you won't be here heaping a satanic worship on a man who initiated the begining of economic woes on Nigeria. With the introduction of SAP, IBB destroyed the economic foundation and progress of the country. In one fell swoop, naira was devalued by 500%, then up to 2000%, our debts increased to about $34billion, inflation rose to 54%. We could barely service our short term loans and thus, sellers overseas were reluctant to sell goods to us. Till today, we haven't recovered from SAP, IMF, World Bank captivities that IBB led us into and guess who was the Finance minister at the time, an economist and an ex-World Bank staff, Dr Kalu Idika. Kalu. If there's anyone that should be tied to stake and shot, it is these two evil geninuses.

-kiss the truth!
Re: 1978 Naira Exchange Rate With Dollar by headboyprince(m): 3:18pm On Feb 01
Salewa97:
Nigerians and their ignorance.

So can you tell us how many Nigerians can afford a car back then and how many can build a house in 1978.

When they sold cars for less than 5000 naira, how many Nigerians get car?

People just fuulishly think when $1 = #1, even automatically everyone will be able to buy Porsche.
lol. dont be dumb. so many people can afford phones today than in 2006, does that mean that we've all gotten richer?


tech products tend to get cheaper as new ones come out. reason almost everyone can afford it today.

if all the cars today were pegged at the price #5k with same value of 1978. then almost no one will be able to afford them.

1 Like

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