NewStats: 3,261,667 , 8,174,699 topics. Date: Friday, 30 May 2025 at 03:30 AM a1x4x

nairalanda1:




You don't get it.

No, I am not defending corruption. I am saying your comment shows lack of understanding of what I am trying to tell you.




Dutch disease

It makes no difference if oil sells for 200 Dollars per barrels or 50 barrels.

The funds won't be utilized.. APC are Scammers

nairalanda1:

There is a reason why GEJ wanted to remove subsidy.

That is all I am going to say.

With the removal of subsidy how much have they saved so far. There is no ability.

Here in the UK, the government gives breakdown for every penny they took or made and let's you know how much they generated.

See how useless the Naira has become yet no one knows what they have done and they keep borrowing instead of using the money saved to clear debt

nairalanda1:


Ye don't know how much we need oil to be to balance the budget?

At least 130 dollars. It was 122 in 2012 and 137 in 2017.

That's why I laugh at your comment. I don't disagree with the savings bit, just the fact that you think that sixty dollars per barrel is enough for Nigeria. We ain't Kuwait with 4.5 million people who could manage even 40 dollars per barrel without sweating!

Oil has been as low as 20.dollars in 2016 and 2020-21.

With the 127 or 130 dollars they sold all the years what did they saved? How much debt did they clear?

We knew how much Yar'Adua saved when he inherited 45 billion with 2 years in government the external reserves hit 68 billion dollars the highest we ever got as a nation.

nairalanda1:


Because our needs were not as much as they are now and because that 12 billion was one third of our debt and the rest got wiped off.

And times were hard back then. Very hard. The same grumbling done now was done then.

Obasanjo did a lot of good things , but he still left our economy dependent on oil.

Since 2015 oil has been selling past 60
Today oil has been selling over 70 to 80
No savings
Debt kept growing

With prudent management of resources no call for alarm after all crude was 13 to 20 dollars per barrels when OBJ saved 45 billion dollars and paid over 12 billion debt

proeast:
People like deceiving themselves. Abuja is to Nigeria what London is to UK. So, your comparison should be with Abuja. How much is rent in Abuja with 24/7 light and unlimited data? , the house has to be in Maitama, Gwarimpa, Asokoro or any other estate inside city centre to have something close to the poorest neighbourhoods of London. Don't go to Dutse Alhaji, Nyanya or other slum areas. Then see if that 500k will be enough for you. £2000 will definitely give the person savings that will be up to that 500k in naira. How much do you think average Nigerian earns in UK yet they're investing in lands and other properties in Nigeria.

You are right if you earn 2000 per month let's say with house rent and bills taking over 1100 per month in cheaper area . Income tax 300,food n transport 300 you should get 300 pounds savings per month which is not bad.

300 *12= 3600 per year minus health insurance 1k
= 2600 per year

Therock5555:



Are you trying to use me for survey?

It will help to know or get an idea as regards the topic of the thread

Number 1 reason is the country u are coming from.

Application from Nigeria with a Nigerian port will certainly face 90% rejection.

Application with a British port will face 90% success rate

Therock5555:



Why don't you change locations to a cheaper state, and See things for yourself.

I know things are expensive bro
But i am trying to get a real picture.

How much is this paint of

Rice
Beans
Garri

From this i will be able to get a real picture of how much i can spend in a month.

columbus007:
Well on who to blame, didn't she see that she was about renting a house under the tank before going further.

You must be a fo0l

The fuel is an essential commodity that affects lives in all round. The subsidy removal has proven to make Nigeria 100 times poorer.

The government should subsidies fuel to bring down the cost of living while it looks for ways to deal with smuggling of fuel and fraud in the system

sonssyo:
Some persons are earning above 500k and are still single with family responsibilities but still can't save 200k.
Please don't ask me how because the country is tough,
Data:9k
House Rent -30k monthly
Light -10k
Feeding- 70k
Health related -30k
Glossaries per quarter -80k IE 27,500
Fuelling -40k
Fun allocation -20k
Mum purchases: 55k

Money don finish

Your analysis is in order within limit but that of mom 55k can u take it one side for now.

So we are looking at an expenses of 240k roughly that leaves you with 250k plus savings in a month

Thanks for your input.
That means if you are earning 200k per month you shouldn't think of marriage?

I think fuel subsidy should be introduced back then let's look for other ways to genuinely track smuggling, track fraud in subsidy schemes because if fuel is sold between 250 per litre food prices will reduce drastically, same with cost of living

Global trade and economy will slump.

This is unnecessary... Trump is a poor leader of choice

Therock5555:



Please state the food that your 150k fit reach to stock for a month?


Is it the expensive rice, beans or yam?

Abi you wan dey chop sweet potatoes till it comot from your ears.😂😂

BTW you and I know say things like that wouldn't last a whole month without getting spoilt, so you gats buy in smaller quantities.


E get reason why I stop to cook, yes I know it's more satisfying but you fit use like 10k to cook food wey no go last that day, depending on what you're cooking.



The only thing that can save you, if you have a mini garden or farm where you plant vegetables, at least that one is out of the question, then buy rice and beans even if na 10 mudu each, yam cost die, potatoes fit supplement a little.



If you're very prudent, you fit survive. Prudent in the sense that girls and pals aren't coming over to help finish the food, and you cook stingily. Hahahahaha.


Other measures that could help, dating a chick that sells food, or cooks and bring along, then having good neighbors as per bachelor wey go dey show you love time to time, just know that you sef go dey show their children love time to time...


Either way, you'll spend.....

Let me nor believe you are blowing things out of proportions.

With 30,000 you can buy 3 paint of rice
A paint of beans is less than 10k.
Garri will be like 4k

Give or take 100k could get what could last a month.

Am trying to get a realistic pictures. I know the inflation is really bad but lets be within limit.

While in London 2000 pounds u won't be able to recoup your investment before your visa expires unless u are lucky to get sponsored by a company within the skilled shortage visa occupation list that's before ur current visa expires and it cost u approximately 40 million upwards via student visa.

Therock5555:
Anybody wey choose 500k to stay in Nigeria and start quoting bauchi or zamfara is a big fooooooool.


Ask them where they reside and they'll mention a location that they have dwelt in all their lives. I know living in north is cheap but it's not as cheap as y'all think. First stay in the north before you open mouth dey cap rubbish.


I live in the so called cheap north, 20k no dey last me a week, I barely cook anymore, just buy food, data and airtime with small expenses, money dey fly comot from hand like werey.


Did I add that I mostly eat just twice a day, so no feel like say na steady enjoyment things.

Please let's be guided, this country don spoil finish any money wey enter, food go finish 80% ......


Make no body vex with dey call north for here again ....

I understand that food is a major challenge.
Is it possible to use like 150k to stock food that last a month

Wike n Abuja people

Samajogs:
Well... Easier said than done. Don't know how responsible you are

Please help and give a breakdown

ItisWell22:


Data 20k, for individuals who don’t work with data.

Some people on band A spend about 100k a month for power now.

100k is much. Light bill now competing with house rent

But How much do you spend? And will it be a good move to get to erea they graded as band B

Instead me to path with 100k monthly or 1.2m per year then i get solar battery. I had this set up then in Nigeria. Two batteries. 200 ah. Just get the two and four sola s. A good battery will last for 4 years.

DOUBLEBARREL:
Why would you do a "let's pretend" btw elite salary in Nigeria and entry level salary in U.k. why not elite to elite or minimum wage to minimum wage?

Average monthly salary in the UK is 2460 which means 50% population of active workers earn 2460 before tax and only 25% earn above 2460 per month and 10% earn £5,645 per month.

It will interest you to know that about 25% of population earn 1471 pounds per month

Samajogs:
Wow can 500k sustain a better life for you with no responsibility at this economy. Use the corper as a case study, rent, Uber, food, utility in a month.
You provide all the basin amenities for yourself without the govt present.. In abroad the government does that and the cash is just for your basin... Gosh think and have sense

No in abroad you pay for these amenities... Water, light, car road tax, car insurance. Government don't provide it for you free
That said.

What about a breakdown like.
A quarter bag of rice 25k to 30k
Two paint of beans =20k
Gari one paint = 3k
Yam = 10k
Oil, magi, salt =10k
Transport to work = 30k in a month.
Data = 20k
Budget probably 200k max to cover this which include power


You get 300k..

House rent 400k per year. Or 34k per month.

You could still get savings of 250k

Samajogs:
My brother add 40years to it in Uk...in my wildest imagination I can't choose naija because there's no hope and trust

Interesting but why even with 500k per month you mean no hope?

Henix:


The 2k in London, is it before tax or after tax? Be more specific

Not take home. Before HMRC takes their cut

ComradeKunle:
The women selling vegetables by the road side or at the market will see it as a big money and an opportunity to expand their business. A vulcanizer apprentice can use the money to buy machine and tools which he will use to start his own after learning work.

Meaning 500k monthly is for low income people?

ComradeKunle:
500k naira. Petty traders can manage it somehow

What do u mean by petty traders will mange it some how

Be honest, Nigerians: If someone offered you 500k cash in Nigeria vs £2,000 in London
— pick one! No going back. You must survive with it for the next one 20 years. What’s your choice and why?

Stayingalive:

You know how many hours a minimum wage worker would earn that in Nigeria?🇳🇬 about 4 hours to earn 1500

Now in US a minimum wage worker would earn ($7.25) 11k in one hour.

Do the maths

The Nigerian minimum wage is 70,000 per month and this is the base salary.

This money is not the problem but the fuel price, food scarcity. If the government can do more to bring fuel down to 400 or 300 per liter then the money will have good value

steeltrust:
12piece of chicken nugget and big cup of sprite or coca is 8dollar 😂😅 and that lunch but can N10 buy you lunch in Nigeria


All ronus sef 😂😅

You can't compare 10 naira to 10 dollar...
It's like comparing 2000 dollars to 2000 naira..
While a pure water seller can make profit of 2000 naira in a day in US it takes 1 full months to earn 2000 dollars

Not neccessary

OAFMods:
So workers shoukd.not ask for new salary struxtire after prices of all comodities have tripled and the govt have also increased all tariffs ?

You are typical example why they say Nigerians love their yoke. No be this milleniun you go get sense.

You asked based ob reality on ground. The federal government has implemented a new minimum wage which the government just implemented asking to review CONHESS salary structure is out of point at this time.

Let's not forget that they recently received all their 33 months salary of which the past istration refused to pay but this government called them and pay them all kobo..

Do you know what it means to receive 3 years salary just once, and on top of that have ur salary increase by the federal government and the government implemented it. Now u turn around and said structure they used to pay you is that of 2011.

zero8zero:

Will you STFU, we're talking external reserves and this Illiterate keep bringing up ECA. Oil prices were reasonably high during his regime with little to no oil pipeline vandalism, which explain why he was able to leave $20b in ECA reserves.

How much was oil price from 1999 to 2007?
Oil price was as low as 13 dollar per barrel at 1999 and only grew to 70 dollar at 2007. Buhari and Tinubu that is the APC Regimes enjoyed higher revenues from oil that what Obj could get

In fact in 2022 the Brent oil sold for over 120 per barrel. When oil was selling for over 80 dollars per barrel Buhari was busy trying to get secure about 30 billion dollar loan but the Senate under Bukola sarki rejected and faulted the move. The then Ekiti state government went to china to deliver a warning for the lenders to decline the loan

https://www.macrotrends.net/1369/crude-oil-price-history-chart

zero8zero:

You come quick add ECA to it . The purpose of ECA is different from external reserves, ECA belongs to the FG + States, and it's meant for sharing among them.

How much excess has Buhari, tinubu saved.


Please let's talk with share sense of responsibilities.

It's a pity that obasanjo saved over 45 billion in just 8 years, paid over 15 billion in total debt then in addition left over 25 billion in excess crude.

All these are the very reason there is suffering in the land, they squandered all money and are shouting no funds to subsidies fuel.

Here in the UK public transport is cheap and is subsidies heavily. I can travel 300 hundred times between two or three cities or even the region for just 2 pounds. Just get the tick and continue using for 12hrs

zero8zero:

They gave us $18 billion as relief, we paid off $12 billion. OBJ never left $70billion, he left $42billion.

Obj left 70 billion plus 42+20+ excess crude
He explicitly said it here
Take time to watch this
https://nairaland.unblockandhide.com/8249209/tinubu-came-office-without-plan


https://www.youtube.com/watch?v=o8R76DGbFhI?si=N7azD7SJjeTOGkf0