After comparing the price of a Peugeot 504 in 1977 with the price of one litre of fuel in Nigeria today, Senator Dino Melaye, the People’s Democratic Party’s (PDP) nominee for governor of Kogi State, has provoked strong reactions.The former Nigerian senator posted an old receipt of a Peugeot 504 purchased in 1977 with a caption that read: “Money for a car can no longer buy 1 litre of Petrol.” The throwback post highlighted the drastic rise in fuel prices over the decades, a stark reminder of Nigeria’s current economic realities.CONTINUE FULL READING>>>>>
This comparison has ignited conversations on social media. Many Nigerians expressed their shock at how inflation has altered the value of money, with some claiming that ₦1,000 in 1977 would now be worth ₦10 million. Others chimed in, remarking on how times have indeed changed and questioned the impact of governance on inflation and living costs.
Screenshots of various reactions flooded social media platforms as users debated the economic trajectory and implications of such comparisons.CONTINUE FULL READING>>>>>
