In another tweet, he further argued that “with N500 I will eat N200 rice, N100 beans and N200 assorted meat…$1 can never do it in America, come and beat me!” Jack Obinyan Buhari
Engr Ibrahim Danlami Aliyu·
$1 VS N500 BROUHAHA
I came across people making a mockery of the Naira vs the dollar in the last 48 hours and I have being laughing since then, is the currency exchange rate a yardstick for the basic cost of living comparison? I am not happy that our Naira is depreciating always but hey….it is not that bad and this is why
1. N500 can buy me 2 square meals in Nigeria but $1 can’t buy you a meal in the US.
2. N500 can buy me a 1.6gb worth of data in Nigeria but $1 can’t buy you a 250mb of data in the US. T-Mobile charges N32,500 for a 30gb of data, AT&T charges N37,500 for a 30gb of data, Verizon also charges N40,000 for same 30gb of data in the US. Glo charges me N10,000 for 50gb and MTN charges me N10,000 for 40gb of data.
3. A 75cl bottle of water in Nigeria cost an average N100, a 55cl bottle water in the US is $1.45 which is N725.
4. The most expensive place to live in Abuja is Aso Drive, a single room cost N400,000 per month, same room goes for N350,000 in Lekki all in Nigeria. Same room in Manhattan, New York City goes for N1.8 million per month.
5. N500 can buy me a dudu osun bathing soap and a Vaseline for the harmattan season, $1 can’t do same in the US.
6. N500 can buy me 3 litres of fuel in Nigeria, $1 can only buy you 1.3 litre of fuel in US.
7. It cost an average N180 daily to earn a degree in Nigeria, it cost an average N1,650 a day to earn same in the US.
Keep Insulting Yourself Thinking You Are Insulting Nigeria.
2 Notable Comments Are displayed here
your comments please what do you think ?
2 Comments
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I wanted to reply the original writer but I am not his friend, so I can’t. I wish to reply and engage you on this.Firstly, the main assumption of his post is wrong. Exchange rate can drive the cost of living and does drive the cost of living in Nigeria.Even if we are supporting a failed administration, lets not force lies on people to justify the present state of things.To know whether the exchange rate determines cost of living, we can ask ourselves a simple honest question, thus,WHAT DOES NIGERIA PRODUCE?An answer to that will determine what drive the cost of living
– Jack Obinyan, a media aide to Governor Obaseki, has come under fire – Obinyan drew the anger of Nigerians on Twitter with his controversial analysis on the fall of naira against the dollar – The media aide, in a tweet, said N500 can feed him in Nigeria but $1 cannot do anything in the USHowever, his argument did not go well with many social media users who took time to school the political appointee on the implication of naira rising against the dollar at the foreign exchange market. A social media user wrote:“You talk like a fool. Na only food u dey buy? what of production cost for those that import.”“Minimum wage is 7.25$ an hour in U.s, equivalent 3,262# 40hours a week at the rate of #3,262, will give you #130,500 a week in U.s at $ rate of 450, but buying rice with 500# shows Nigeria is doing well, una go shs get sense one day.”