NewStats: 3,259,412 , 8,170,030 topics. Date: Saturday, 24 May 2025 at 09:48 PM a144w

$19,000 from a $50,000 salary before tax?

BlackSan:


And that is why when you disagree to something stated, you give a reason or logical facts why you disagreed.

On typing *I disagree* and walk away

How am I deluded? And what outright lie and misinformation are you talking about? Please clarify

Limassol:
My sincere hope is nobody fall for the outright lies and misinformation this deluded guy is spewing(the op).

https://nairaland.unblockandhide.com/6661439/updated-cost-renting-2-bedroom

A link to the average cost of renting a 2-bedroom presently in Lagos. 10tens of millions of Nigerians rent housing above 300k annually. I wonder where the other guy got his statistics from about 50% of Nigerians living on 137k annually. The way some people reason I am beginning to feel this forum is full of majority of people who just left secondary school and looking for their first job. What can 100k monthly do for a single Nigerian these days?

I don't really blame some of you for responding to the OP. You might have thought that it was a genuine discussion.

For we that have been here for long, we know the op too well that is why the popular Nigerians in diaspora on this forum don't respond to his threads.

He has used for than 10 monikers in the last 5 years saying the same thing. He will still create another moniker next month to start this argument in another way next month.

Most times, I think he has a mental problem. Otherwise how does one keep disturbing himself or herself over something that does not affect him personally? From year to year, same argument.
Make no mistake, it is okay to have a view for yourself but when it now turns to creating threads year in year out on the same topic trying to prove a point, then a psychiatric help may be needed.
Please guys, let the thread die so he can change moniker and create another thread next month

Majority of Nigerians in diaspora fewer options to invest abroad that's why they all invest back home. Abroad life is all about savings. That;s the reason why I even wrote this post

stansharpiro:



Not just saving, but also investing. Saving is not a viable long-term plan for financial stability.

Meanwhile

PhD Student reveals how he secured a Canadian study visa for himself and his wife, without using an agent or consultant. Follow through the link to the channel for more info


https://www.youtube.com/watch?v=fJD-WcwYFH0

Follow this link when you're done watching the video

https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbDlvbExjT3RPVHVucUUwNzdYRVFIZTJ1MkUwUXxBQ3Jtc0ttUV9TTWpWejNwQXFzOHgxQmc2cXZGOHdQY0gxWVFZMWN2aUVBSWJmR1lfVldGWHo2cnZjWUl3NXpyVkxJWlZzODFOSnM1MEJhZFVrTEd0aGFVejFxT3o2QmFCV1pZSFN5NExfWnhIS25LRERNWU43OA&q=https%3A%2F%2Fexpertnaire.com%2Fmanager%2Fproduct%2F6937511004%2F7051860425

It is a free and open world. You can believe anything you like. I am not influence by anyone or an imposter

Kenn55:
I don't really blame some of you for responding to the OP. You might have thought that it was a genuine discussion.

For we that have been here for long, we know the op too well that is why the popular Nigerians in diaspora on this forum don't respond to his threads.

He has used for than 10 monikers in the last 5 years saying the same thing. He will still create another moniker next month to start this argument in another way next month.

Most times, I think he has a mental problem. Otherwise how does one keep disturbing himself or herself over something that does not affect him personally? From year to year, same argument.
Make no mistake, it is okay to have a view for yourself but when it now turns to creating threads year in year out on the same topic trying to prove a point, then a psychiatric help may be needed.
Please guys, let the thread die so he can change moniker and create another thread next month

nigeriandream14:
Majority of Nigerians in diaspora fewer options to invest abroad that's why they all invest back home. Abroad life is all about savings. That;s the reason why I even wrote this post

Fewer options to invest? Please what are the investment options in Nigeria? Do you know the size of the US stock market compared to the Nigerian Stock Exchange? The size of the real estate market? The reason most people invest back home is because of the exchange rate, a little $ translate to plenty Naira., not because of a lack of investment options or opportunities.

US. stock market that only favors the 1%? Exchange rate is not really helping that much these days cos Nigeria is very expensive and the average Nigerian building is equivalent to the amount of the US. median house price

sharpman1:



Fewer options to invest? Please what are the investment options in Nigeria? Do you know the size of the US stock market compared to the Nigerian Stock Exchange? The size of the real estate market? The reason most people invest back home is because of the exchange rate, a little $ translate to plenty Naira., not because of a lack of investment options or opportunities.

Here is a new link from Nairaland for those who say people live on a dollar a day in Nigeria. Very laughable indeed. This is the amount bus drivers pay daily to tax collectors in Lagos. Money is heavily circulated in Nigeria than abroad. We need to open our eyes to catch as many as we can

https://nairaland.unblockandhide.com/6664667/amount-paid-agberos-lagos-daily#up

nigeriandream14:
US. stock market that only favors the 1%? Exchange rate is not really helping that much these days cos Nigeria is very expensive and the average Nigerian building is equivalent to the amount of the US. median house price

There is no point arguing with you. You are either trolling or ignorant.

But what I said is the truth. Let's discuss if you believe in your ignorance

sharpman1:


There is no point arguing with you. You are either trolling or ignorant.

10k daily?
10k*10day=100k
100k*3=300k
Howany bank manager earns this?bro you no serious..

Nigerians always link money to salary. How many people are even employed? We have tens of millions of self employed people doing businesses. Even petty business generates over 10k daily. What is 10k self that you guys see as big deal. I am beginning to feel nairaland is filled with recent secondary school graduates. Do you know how much average Nigerian spend on running their generator and fueling their cars? Honestly I am beginning to get fed up with these 16yrs old secondary school students on nairaland

OLORIPAPA:
10k daily?
10k*10day=100k
100k*3=300k
Howany bank manager earns this?bro you no serious..

Bank managers are not rich. So many hustlers will buy a bank. Are you guys really living in Nigeria? I doubt. 300k that can't buy a good chair

OLORIPAPA:
10k daily?
10k*10day=100k
100k*3=300k
Howany bank manager earns this?bro you no serious..

Our prayer is may our blessings locate us wherever we are and in good health.

To those who seek salvation abroad, have a safe journey and a fulfilling life.

To those of us at home that still see goodness in Nigeria may our hustle be rewarded.

This your analysis does not correlate.

It's more like comparing apples with oranges.

You are comparing earnings in the US to savings in Nigeria.

It would have been better if you compared earnings in the US to earnings in Nigeria.

Well, even if you compare earnings to earnings, US is still farrr ahead of Nigeria whatever way you look at it

.

nigeriandream14:
Bank managers are not rich. So many hustlers will buy a bank. Are you guys really living in Nigeria? I doubt. 300k that can't buy a good chair

That's enough!!!!
There should be a limit to one's stupidity
You compare people here to secondary school students yet your way of thinking can easily be compared to an ignorant illiterate!

*Many hustlers can buy a bank* Dude are you that daft? What the Bleep haven't you bought one? If you know nothing about Nigeria situation, kindly Shut The Bleep Up!

The audacity to compare the standard of living of people in the US to Nigeria... You have no traveling experience, you only lived in one part of Nigeria all through your life, you know absolutely Nothing about Nigeria situation and you open a thread to embarrass yourself!

When you can't prove a fact, you bring up dumb assumptions, I wonder how this nonsense thread got to the front page.

first of all , it depends on the individual and their spending habit .

secondly $25 daily for anyone that is working 8 hrs a day is easy to save -depends on what the person does with money. folks who make 50K a year , pay 25% as tax , so they take home at least 3k a month(36K) , a one bedroom in most places will be $700 a month. take out $300 for a car note , they still have 2K a month for every other thing (24K a year) so why cant anyone who doesn't floss and drives a brand new corolla, afford 9K at the end of the year?
lets reverse your points
10K Naira a day is 300K a month.
How many Nigerians do you know that have up 3.6 million Naira in their bank s at the end of the year ? Do they drive brand New Cars or used? do they pay 400k Naira ($700) a months as rent? you might want to ask your banker friends about this. Have you ever been to the North of Nigeria(not Abuja )? what's the minimum wage in Nigeria ? Seriously, what's the income of those who patronize your "10k a day profit" makers business? why do stores have a "No credit,come back tomorrow " as a slogan in Naija?

bottom line : its very easy to save $25/ day and NOT impossible as you stated.
But keep dreaming.

nigeriandream14:
I have done a thorough research and my findings are very interesting. I hope the s considers me worthy to move this to the front page.

It is impossible for someone earning $50,000 annually abroad to save $25 daily (Over $9,000 annually). Majority, if not all of western countries consider people making $50,000 as middle class. $25 dollars is just 10,000 naira daily. I believe most Nigerians with handwork can make that much comfortably daily. I am not trying to discourage anyone from traveling abroad, I just want us to have a rethink and see that Nigeria is not that bad as we portray it to be. Drivers, laborers, petty businesses etc all make over 10,000 daily. Forget the daily complain of hardship we read online daily. It is a Nigerian trait. Tens of millions of our citizens do actually make above 10,000 daily. What we need to do is cultivate the saving habits of our brothers who live in diaspora. Nigerians only learn how to save when they travel abroad. If we work on ourselves, saving a million naira annually won't be a problem. Thanks

https://www.cnbc.com/video/2021/06/25/how-to-budget-your-money-if-you-make-50000-per-year.html

stefflos:

Bank managers are not rich
How many hustlers can buy a bank?
Your stupidity is never cease to amaze me

Hundred of thousands of hustlers can buy a bank. They are scattered across Nigeria. Most bank branches don't have a total assets of more than 2billion. You are the one who is stupid. Lets address ourselves in a matured way

BlackSan:



That's enough!!!!
There should be a limit to one's stupidity
You compare people here to secondary school students yet your way of thinking can easily be compared to an ignorant illiterate!

*Many hustlers can buy a bank* Dude are you that daft? What the Bleep haven't you bought one? If you know nothing about Nigeria situation, kindly Shut The Bleep Up!

The audacity to compare the standard of living of people in the US to Nigeria... You have no traveling experience, you only lived in one part of Nigeria all through your life, you know absolutely Nothing about Nigeria situation and you open a thread to embarrass yourself!

When you can't prove a fact, you bring up dumb assumptions, I wonder how this nonsense thread got to the front page.

I know about the situation in Nigeria. The situation is clear for all to see. The average Nigeria has more money to spend than the average European or American. Thanks

yellochuq:
first of all , it depends on the individual and their spending habit .

secondly $25 daily for anyone that is working 8 hrs a day is easy to save -depends on what the person does with money. folks who make 50K a year , pay 25% as tax , so they take home at least 3k a month(36K) , a one bedroom in most places will be $700 a month. take out $300 for a car note , they still have 2K a month for every other thing (24K a year) so why cant anyone who doesn't floss and drives a brand new corolla, afford 9K at the end of the year?
lets reverse your points
10K Naira a day is 300K a month.
How many Nigerians do you know that have up 3.6 million Naira in their bank s at the end of the year ? Do they drive brand New Cars or used? do they pay 400k Naira ($700) a months as rent? you might want to ask your banker friends about this. Have you ever been to the North of Nigeria(not Abuja )? what's the minimum wage in Nigeria ? Seriously, what's the income of those who patronize your "10k a day profit" makers business? why do stores have a "No credit,come back tomorrow " as a slogan in Naija?

bottom line : its very easy to save $25/ day and NOT impossible as you stated.
But keep dreaming.

Driving a used car in Nigeria is almost equivalent to driving a brand new car in America. Hope you know it takes most Americans 5yrs to complete the loan on their cars? A used car bought for $10,000 and shipped down to Nigeria will surely cost over 10million naira these days after adding the cost of shipping and profit being made selling it. So you see it is the same thing. At least over 100million Nigeria have over 4million naira in their as we speak. Thats a very small money that can't do much. In Lagos today half of that is what you pay to rent a three bedroom house

nigeriandream14:
Hundred of thousands of hustlers can buy a bank. They are scattered across Nigeria. Most bank branches don't have a total assets of more than 2billion. You are the one who is stupid. Lets address ourselves in a matured way

Can you buy a bank
How many people in Nigeria have up to 2billion

nigeriandream14:
Driving a used car in Nigeria is almost equivalent to driving a brand new car in America. Hope you know it takes most Americans 5yrs to complete the loan on their cars? A used car bought for $10,000 and shipped down to Nigeria will surely cost over 10million naira these days after adding the cost of shipping and profit being made selling it. So you see it is the same thing. At least over 100million Nigeria have over 4million naira in their as we speak. Thats a very small money that can't do much. In Lagos today half of that is what you pay to rent a three bedroom house

Honestly I had initially promised myself not to be swayed by irrelevant comments from an ignorant fellow who is obviously trolling but for the sake of those reading who might be mislead by such nonsense, I decided to comment.

First of all, let's talk about how you have ignorantly posted wrongs assumptions that even an illiterate would be shocked to listen to. *The majority of the electronics imported into Nigeria are all second-hand,* meaning they have been used by their citizens, so stop assuming imported cars coming into the country are new ones.

I guess if you were any sensible you would have an idea of your beloved country's policy.

When the Nigeria govt requested for a loan from the IMF in the past, the World Bank gave two conditions before giving out the loan.
Firstly, Nigeria would accept anything imported into the country (That makes your beloved country a dumping ground for European countries)
Secondly, The devaluation of naira (which is one of the reasons why #500 naira is equivalent to $1).

EVEN if new cars are imported into the country, how many people do you think can afford it? You do realize in international trade, you can't trade in naira, you have to covert your money to dollar. Let's assume used cars in Europe are sold for $30,000, when converted to naira that's 12.3M and you have to pay some clearance fees so before you finish with the whole procedure, you will spend a lot of money.

That's the difference!! there's a huge difference in standard of living in both countries. I concluded you have a birdbrain when you assumed anyone can buy build a bank. You know nothing about the basic standard of living in Nigeria, you know nothing.

Over 10 million Nigerians have 10 billion naira. Might even be more

stefflos:

Can you buy a bank
How many people in Nigeria have up to 2billion

I am not trolling. I am stating facts. Nigerians pay more on every commodity since our economy is importation based. It means Nigerians are very rich cos a car sold in america for 1million we buy it here 3 million. Nigerians have more cash at hand to spend

BlackSan:



Honestly I had initially promised myself not to be swayed by irrelevant comments from an ignorant fellow who is obviously trolling but for the sake of those reading who might be mislead by such nonsense, I decided to comment.

First of all, let's talk about how you have ignorantly posted wrongs assumptions that even an illiterate would be shocked to listen to. *The majority of the electronics imported into Nigeria are all second-hand,* meaning they have been used by their citizens, so stop assuming imported cars coming into the country are new ones.

I guess if you were any sensible you would have an idea of your beloved country's policy.

When the Nigeria govt requested for a loan from the IMF in the past, the World Bank gave two conditions before giving out the loan.
Firstly, Nigeria would accept anything imported into the country (That makes your beloved country a dumping ground for European countries)
Secondly, The devaluation of naira (which is one of the reasons why #500 naira is equivalent to $1).

EVEN if new cars are imported into the country, how many people do you think can afford it? You do realize in international trade, you can't trade in naira, you have to covert your money to dollar. Let's assume used cars in Europe are sold for $30,000, when converted to naira that's 12.3M and you have to pay some clearance fees so before you finish with the whole procedure, you will spend a lot of money.

That's the difference!! there's a huge difference in standard of living in both countries. I concluded you have a birdbrain when you assumed anyone can buy build a bank. You know nothing about the basic standard of living in Nigeria, you know nothing.

nigeriandream14:
I am not trolling. I am stating facts. Nigerians pay more on every commodity since our economy is importation based. It means Nigerians are very rich cos a car sold in america for 1million we buy it here 3 million. Nigerians have more cash at hand to spend

op you are right but what you should understand is that the money in that same geographical area where the car was imported from might be lesser or same amount so its like a case of weak currency against strong currency(more quantity less quality) you get?

The Nigerian dream is alive and kicking