That is about 192,170% increase. Jesu

Chai!!!

TimeManager:

I already did earlier. Dr. Kalu Idika kalu, he was finance minister, ex world bank staff, he gave the advise, IBB took it.

-kiss the truth!

How come the ones giving other Hausas and Yoruba Presidents haven’t turned 9ja to Dubai? Double kiss the truth. When things go wrong everyone blames the head not advisers whatsoever. Take it or leave it Hausas and Yorubas destroyed Nigeria. Kiss another truth. If Obi was the President and things go awry won’t you gladly shred him apart?

Bobloco:


What's the value of $13,100 in 1978?

that money will buy three 504 cars(new car not tokunbo) and u will still have change. At 1978 504 car is #3500.

You'll never see Seunmsg on threads like this

🤡

Seunmsg Dude get your as$ in here and come defend your beloved daddy who's a monumental failure

PROPEACE:

Where in his post did he mention 1978? You sound more like a zombie to me. Just because you are worshipping Tilumbu does not mean you should deactivate your brain.

So it makes sense to you that someone is blaming 2024 on IBB of 1985?

Smartguyboy:


What is really wrong with this guys are you blind?
You are asking the value in 1978 who care about the value when dollars was worthless to naira ?

But the reverse is the case now

Naira is worthless to dollar

system21:

APC supporters has been programmed to believe that Nigeria economic woos due to importation of goods and not bad governance and corruption

I wonder o. Buhari halted importation of goods and many other products, yet the naira kept nose-diving. Who's deceiving who?

It's too late to cry when the head is already off. This is just the beginning... Nigerians never see anything sha!

E go pain you tire. Since their choice of candidate is your headache, you better see your doctor.

toujurs:
Don't mind them, very shameless. they have forgotten how they shouted Emi lo kan. A mother who should be guiding the youth into the right part, is playing partisan politics for a wrapper and 3kg of rice. what a disgrace.

system21:

It's very shameful. Sometimes you begin to wonder what this people benefit from supporting bad governance

Please go stage war against bad governance there is profit in not supporting your government.

Salewa97:


So why don’t car get cheaper as new one come out?

Can you see who is now dumb now? Abi how much dem dey sell car for 1970?

lol .. a 1970 totoya corolla that sold for $1700 wont sell for more than $100 today.

mind you the $1700 in 1970 is worth 6.3million naira today... with 200k today you can own a car better than that 1970 toyota corrolla.

so now ask yourself who is dull between both of us. mtcheew...

VeryWickedMan:
Tinubu is Nigeria's worst ever President.

Babangida put us in this mess.

Thar was before Nigeria started to be sold to the West.

IBB grabbed power by force. To become accepted by the West, he accepted all the IMF recommendations of currency devaluation and the rest.

Street urchins started to appear in Nigeria and ballooned to today's Nigeria the poverty capital of the world.
Before Tinubu started to campaign for presidency, he toured the Western countries and obtained treaties.

Salewa97:


Which ancestor have free land in 1970s?

It’s clear you don’t know what you’re talking about. How many Nigerians get house for 1970?

you're obviously too young a kid to comprehend the fact that land was once free in nigeria. ask any elder above 60, they'll cofirm exactly what am saying or better still check this thread out. https://www.nairaland.com/7934874/nigeria-real-estate-bubble-burst

We have been going down the hill since Lugard almagamated ethnic groups with great animosity for each other. With Buhari and Tinubu, Nigeria entered the express way to suffering promax. The painful thing is that they are not concerned but would rather blame the previous governments.

Mr man leave history alone, ask yourself why is it so difficult for the current leaders to proffer solutions to issues on ground. Why we the masses also supporting bad leaders.

TimeManager:

Everyone knows the collapse of Naira started during the SAP regime of IBB and the person who introduced SAP to him was an igbo man who was his finance minister.

-kiss the truth!

Salewa97:


How much do people earn them, that how you calculate it.

As at 1974, the minimum wage is just 60 naira per month. Please how much does it cost to build a house in 1974?

Now who is ignorant?

oboy you know what that 60 is worth in todays naira worth? it's worth more than 300k. yes you heard me right. and land was almost free back then. people have been blinded by poverty and suffering, they dont know how bad the country currently is.

Bobloco:


What's the value of $13,100 in 1978?

..Na expired igbo you smoke today?

system21:

₦10,220 according to the news paper, abi eyes dey pain you

You 4 ignore the mumu

They think tinubu is a saint becos he is from their region

I am wondering if tinubu gives or dash people from their region money 💰 every month

Dzzzz:
..Na expired igbo you smoke today?

You no understand my question

VeryWickedMan:
Tinubu is Nigeria's worst ever President.

I will believe this if you provide parameters which your judgement is based on otherwise, you are just a blabbermouth.

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 a stake and shot, it is these two evil geninuses.

-kiss the truth!

. You lack sense

Teibalism has blinded ur brain

Does tinubu know you exist?

Does he gives you and your family monthly stipends?

Is nigeria 🇳🇬 present harsh economic not affecting you and your family 👪 and by extension people from your region?

You reason like a kid

Na wa oooo 4 bad government

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 a stake and shot, it is these two evil geninuses.

-kiss the truth!

Thank you.

Some diarrhoea-running-mouth up there who knows next to nothing about governance or politics thinks it's by sitting behind a keyboard in their hamlets, typing balderdash with their leprosy-infested fingers. No, please. Tinubu is not even here for 365 days yet!

Tinubu is a disaster.

Agboriotejoye:

IBB in 1978

They apply brain to this Zombiesm na 🧟‍♂️ 🧟‍♂️

How did you pass Comprehension in school? Just how? He never said IBB was president in 1978, he only spoke about another era in the history of the nation.

I'll help you.
There's something in comprehension they call Drawing Inference.

1978 is history to me too but what we can deduce from his narrative is that from 1978 up till IBB's era, the dollar-to-naira rate was still good until Grandpa Babangida came and scattered everything by those margins he provided. Ka ji ko! Ṣe o ti ye yin?

placeofallure:


How did you pass Comprehension in school? Just how? He never said IBB was president in 1978, he only spoke about another era in the history of the nation.

I'll help you.
There's something in comprehension they call Drawing Inference.

1978 is history to me too but what we can deduce from his narrative is that from 1978 up till IBB's era, the dollar-to-naira rate was still good until Grandpa Babangida came and scattered everything by those margins he provided. Ka ji ko! Ṣe o ti ye yin?

Since you mentioned comprehension, allow me to indulge you. Below is the Op's statement and his response to the Op side by side.
Op

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.

His response:

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%, our debts increased to about $34billion, we could barely service our short term loans and thus, sellers overseas were reluctant to sell goods to us.

I heard 1Cefa is now N2,200 how true is that.Nigeria is finished.

system21:

Another supporter of failed government, ordinary Benin Republic that produces next to nothing their CFA is performing far better than naira and This one is here typing rubbish on public space

Agboriotejoye:

Since you mentioned comprehension, allow me to indulge you. Below is the Op's statement and his response to the Op side by side.
Op


His response:

This still doesn't mean he opined in anyway that IBB was president in 1978.
That's what I'm taking you up on.

nairalanda1:


They all did...the oil boom of the 1970's made oil the main the main. At the end of the 1980's, everything rose and depended on the oil price.

By the start of 1993, we had a deficit.

Nigeria's problem is simple. We are not a exporter of manufactured goods and service. We rely on oil, so when oil crashes, our economy crashes. When oil shoots up, we have to pay the debt back once again.

Even before oil, we relied on cocoa, groundnut and palm oil, and tin, and gold, and a host of other stuff. Nice, but we sold the thing to industrial nations, who processed it for larger profits.

The question I always wonder of our leaders, (which is why I am not impressed with any one of our leaders since independence) is simple....what have we done with the resources we have? The truth is, we have not processed them into goods that we can sell at a price we set.

THat is why as far as I am concerned, Nigeria has never had good leaders.

(NO, I am not here to abuse you or anyone for the party they support, or defend any leader. Every voting period we hope the new guy would be different. They ain't.).

Nigeria is a resource dependent nation, and it needs to break free of its resource dependency.

nairalanda1:


Simple. They did not diversify, so they ran out of the money needed to keep the naira strong. Hence , they had to devalue or else....

(Yes, tinubu was part of the APC government from the word go in 2015).

Nigeria's problem is the population the World Slavery Bank and International Slavery Fund is giving it.

Funkyswagzz:


Don't be a nuisance bro it was the influence of the west that made ibb to devalue our currency stop blaming igbos for ur misfortune. Ibb was not under pressure what so ever when he made his decision. We are tired of these useless propaganda u carry around just because u want to justify ur failures.

The "west" uses people around you to influence you or to influence the trajectory of your progress.