NewStats: 3,264,894 , 8,185,026 topics. Date: Thursday, 12 June 2025 at 05:59 PM 2jh4e

lapintoz:
I was wondering o.....

My papa bought a brand new 504 with AC for N20,000 in 1984 and a beetle for N6,000 for my brother later in the year.

20k in 1984?

Thedon12:
That was 1977, because my father bought his 504 4000 naira In 1983.

Brand new?

Yes .

GreaterFuture:

Brand new?

GreaterFuture:

Okay...
So it probably did in the 60s... Or 50s
So you won't say "never in the history of Nigeria" has a car cost that...

Like I said the problem with many of you is that you do not know your history. There was no Naira in the 50s or 60s. The Naira was introduced in 1973. Also 504 did not exist till 1968.

So yes. I can say authoritatively that never in the history of Nigeria has a brand new 504 cost N1,500.

Let me enlighten you as to how properly educated people debate.: if you want to rebuff or counter someone, you counter with evidence/facts not opinion especially opinion that has no evidential fact or logical thought process backing it.

casualobserver:


Like I said the problem with many of you is that you do not know your history. There was no Naira in the 50s or 60s. Also 504 did not exist till 1968.

Okay, yes, there wasn't.
But corresponding value that is...
Also in your pic, one Toyota car there was 2000 something Naira... So it was fairly possible.

And lastly, I'm not part of the "many of You". I'm an educated millennial, immersed and grew up in history.

GreaterFuture:

Okay, yes, there wasn't.
But corresponding value that is...
Also in your pic, one Toyota car there was 2000 something Naira... So it was fairly possible.

And lastly, I'm not part of the "many of You". I'm an educated millennial, immersed and grew up in history.

Stop digging a hole for yourself and train your mind to think properly.

casualobserver:


Stop digging a hole for yourself and train your mind to think properly.

Huh??

casualobserver:


Stop digging a hole for yourself and train your mind to think properly.

I said corresponding value, NIGERIAN pounds or whatever was spent, would it have been possible it have a ₦1500 car? Yes absolutely.
No, I did not set out to argue with you at all. Just checking some things with you, as is done in a discussion site.

You shared valuable data on your original comment.
And I don't align with the original posts, the OP and all. We all know and its basic common sense that 1500 naira was a lot of money in 1977 and even in 1984.

Still, how many people can afford it then?

GreaterFuture:

Calculation is still wrong... Adjust the USD too

Alright make i use 1600 then!

ceejay80s:

his 505 has no AC but it's workable

Cool

jideflash:
Price of Nkwobi at Pallet Restaurant & Bar, N3,000.

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That's two (1977’s) 504 vehicles.

BigDawsNet:



Cool

u know vintage cars most hs small engines, AC can be worked in it but the engine of the car may not last long

ceejay80s:

u know vintage cars most hs small engines, AC can be worked in it but the engine of the car may not last long

I understand

But I guess most of them comes with fan and heating for cold temperatures … you can feel them from the vent

AbuTwins:


Alright make i use 1600 then!

NO. Not that.
Adjust the USD for inflation over the years too.
That's an over 40 year period... That's basic,

calabaman:
Lol

In retrospect how much were our fathers earning in the late 1970s.

I'm not an economist but I would say this is due to inflation....

My father was earning 5000 back and giving me 50 naira as my pocket money.

But right now - does any MD earn 5000.

I feel this yeye minimum wage should be more.....

But hey over to APC warriors.

As a matter of fact, hardly any MD can buy a brand new car with his monthly salary now.

Racoon:


https://www.facebook.com/share/p/vYAVn4kxfoaXops6/?mibextid=oFDknk

That's 1977. My dad bought his brand new in 1983 for #5000

datola:
Hmmm... prices of everything has changed even in Western world.

Exactly !!!! September is now here most homeowners in the USA will be receiving their yearly property taxes. In 1996 bought my house for $245000 same house all I ever did to the house was finish my basement which added 2030 sq footage of living space to the house the whole thing cost me $34000 to do. Guess what just received my appraisal from the County now freaking valuing my house for $785000. The entire world is going to hell over the basket. Everything is just expensive.

AbuTwins:
The receipt is false! I can see May 1977 there!
................................................................................................
Following the 1984 narrative:
That N1,080 is just over N2.2 Million now!

In 1984, N0.77 = $1 (If i'm not wrong o )

So N1,080 = $1402.60

Naira was balling then!

$1402.60 now = N2,244,160 @ N1600 per $
.................................................................................................
Following the 1977 narrative written on the receipt:
That N1,080 is almost N2.7 Million now!

In 1977, N0.65 = $1 (If i'm not wrong o )

So N1,080 = $1661.54

Naira was really balling then!

$1661.54 now = N2, 658,464 @ N1600 per $

With your explanations above, it would have made sense and more profitable if the #1080 was used to purchase land , by now the profit margin could be a hundred million Naira worth. Guys invest in real estates it pays

Emvirints1:
I press calculator today your 10mill is less than 5k pounds no be die we dey for this country so?

omo, d exchange rate dey mad me.

to think that nigerians in future will look back at this time and say the rate was good makes me feel

it will only get worse

no be naija again?

Foodempire:


With your explanations above, it would have made sense and more profitable if the #1080 was used to purchase land , by now the profit margin could be a hundred million Naira worth. Guys invest in real estates it pays

You are right!

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ceejay80s:

u know vintage cars most hs small engines, AC can be worked in it but the engine of the car may not last long

I understand… I as well have experienced couple of my dads vintage car while we are growing up but when I turn on the Cooling… na only fan Dey blow for the AC vent😏