NewStats: 3,264,408 , 8,183,637 topics. Date: Tuesday, 10 June 2025 at 11:03 PM hg32

See How Much Politicians were earning during this period.

We can only achieve greatness as a country by the time we make politics financially unattractive. As long as the job is lucrative, politicians will continue to steal and do everything they can to get to power. Imagine a president earning just 200k-300k monthly salary, tell me if majority would be interested in being the president. By so doing, only people who have genuine interest in improving the lives of the masses would go into politics.

Though, one may argue that 50k salary for a president in 1979 was a huge amount. Yes, I agree. But we must be honest with ourselves, our politicians are being overpaid these days. They are being paid to do almost nothing.

Do you know how much 50k then was.... It can build massion and buy latest car then....

In decades to come, so as how their current salary would look like

Omo, 50k in 1979 has much value than 200 million today.

Lol. Who will take the bold step? Definitely not the bunch of clowns at the national assembly including the president that ajegudujera.

And the exchange rate was $2 to #1. So the President was earning $100,000 per annum.

Adjusting for inflation, $100,000 in 1979 is equivalent to approximately $437,560 in 2025. This calculation reflects a cumulative price increase of about 337.56% over the 46-year period, based on an average annual inflation rate of 3.26%.

That's roughly what the US President earns annually.



Making a comparative analysis for today, with an exchange rate of #1,600 and 1979 #50,000 being worth $440,000 today, Shagari was earning approximately #690,000,000 annually as basic salary. Which comes down to approximately #60,000,000 monthly .

This is outside other allowances which would have seen an additional 150-200% additional sum to what the President took home. So Shagari would have been earning in today's economy at least the equivalent of 2025's #100,000,000 monthly or #33,000,000 weekly. With a 40hr week, this will be around #800,000 per hour.

N50k in 1979 is like 500 million now

DomPerignon:
And the exchange rate was $2 to #1. So the President was earning $100,000 per annum.

Adjusting for inflation, $100,000 in 1979 is equivalent to approximately $437,560 in 2025. This calculation reflects a cumulative price increase of about 337.56% over the 46-year period, based on an average annual inflation rate of 3.26%.

That's roughly what the US President earns annually.



Making a comparative analysis for today, with an exchange rate of #1,600 and 1979 #50,000 being worth $440,000 today, Shagari was earning approximately #690,000,000 annually as basic salary. Which comes down to approximately #60,000,000 monthly .

This is outside other allowances which would have seen an additional 150-200% additional sum to what the President took home. So Shagari would have been earning in today's economy at least the equivalent of 2025's #100,000,000 monthly or #33,000,000 weekly. With a 40hr week, this will be around #800,000 per hour.

Ogbomosho financial analyst 👏

APC is the reason

1979=₦50,000
2025=₦200,000,000
At same rate...
2079=₦800,000,000,000

.. e don tey no be today.

Politics has always been a big money spinning venture in Nigeria. The major reason we have crooks and people of questionable characters in our political spheres is the money.

Take away the money and you'll see most of them ditching politics for another venture.

Inflation is the main issue here why did our leaders after Abacha allow our currency to slide to the mud

You could buy a car in the 70s with 100 so 50k was huge money back then.

Wow

How much was naira exchange to a USA dollar then? Do your maths....

Then the Nigeria naira was one of the most powerful currency globally.

Frederick John Dealtry Lugar, is the architect of Nigeria and Nigerians been a third world country today.

Now Na 5b monthly unofficially.

Politicians milking Nigeria dry since 1960

And they can't even pay the so called mimimum wage now?

These are the real issues in need of a state of emergency

Lol that 50k you're looking up dere...


No be the same 50k of now oh ....



If 50k is so easy den everywhere for full with Mansion nd not mud house...

What's the exchange rate Den start from dere even as a lecturer I'm sure dere Yearly take home no reach 10k... So politicians av been cashing out since way back...


Most Politicians will even prefer the back in days 50k with the exchange rate to now Millions that can't still match reality...

Asuming an average annual inflation rate of around 16.5%, the cumulative inflation over 46 years would be substantial. Using this average rate, ₦50,000 in 1979 would be equivalent to approximately ₦13.8 billion in 2025.​

Before APC thieves turned things around

THAT'S WHEN WE ARE SANE. BUT NOW WE ARE CRAZY

Before APC thieves turned things around

Akinboboz:
Do you know how much 50k then was.... It can build massion and buy latest car then....

What is even more important is how much civil servants were paid in the same year?

What was the total package of a university VC or a teaching hospital's CMD for example

Why can't they do d same with civil servants salaries too?

helinues:
In decades to come, so as how their current salary would look like

😳😳😳😳😳😳. There have been whispers about your lack of comprehension for some time, but I paid them no heed. Are you truly this way, how old are you by the way? You act and speak like a child,you know.

If Nigeria were overrun by invaders, its land seized by terrorists, and later the country celebrated retaking the territory initially seized, wouldn’t that be worthy of celebration?

The man you so casually label a “comedian” has accomplished more than you have or will ever achieve. It might behoove you to learn when to remain silent.

Direct your energies toward Africa’s affairs and amuse yourself there. This discourse is reserved for individuals who can think for themselves! 🤷🏼

Hdd

christejames:
And they can't even pay the so called mimimum wage now?

Terrible T-Pain is a curse to humanity.

Denying youth corpers the minimum wage since last year!

Quarterpast:
See How Much Politicians were earning during this period.

We can only achieve greatness as a country by the time we make politics financially unattractive. As long as the job is lucrative, politicians will continue to steal and do everything they can to get to power. Imagine a president earning just 200k-300k monthly salary, tell me if majority would be interested in being the president. By so doing, only people who have genuine interest in improving the lives of the masses would go into politics.

Though, one may argue that 50k salary for a president in 1979 was a huge amount. Yes, I agree. But we must be honest with ourselves, our politicians are being overpaid these days. They are being paid to do almost nothing.

N50,000 in 1979 would buy 4 brand new Mercedes Benz 200 cars or 6 Peugeot 504. The presidents salary of N14m today cannot buy even the cheapest Kia, INNOSON or Toyota.

In 1979, N50,000 was $80,000. At that time the salary of the US president was $200,000. Today a IS president earns $400,000 while a Nigerian president earns $9,000!

When we make past comparisons, we should put things in proper context.

Salary wise the current lot are worse off.

2cato:

😳😳😳😳😳😳. There have been whispers about your lack of comprehension for some time, but I paid them no heed. Are you truly this way, how old are you by the way? You act and speak like a child,you know.

If Nigeria were overrun by invaders, its land seized by terrorists, and later the country celebrated retaking the territory initially seized, wouldn’t that be worthy of celebration?

The man you so casually label a “comedian” has accomplished more than you have or will ever achieve. It might behoove you to learn when to remain silent.

Direct your energies toward Africa’s affairs and amuse yourself there. This discourse is reserved for individuals who can think for themselves! 🤷🏼

Who is this?

This guy's post is always making frontpage.

Good guy anyway, congratulations

True, salaries have increased, but considering inflation over the years, politicians' current pay might just be keeping pace with the rising cost of living.