Steem4nigeria Accelerator Contest Week 34: Time Changes
Mention 5 things that was there in your country 10 years back that isn't here now?
(i). Volkswagen Beetle
Though before 10 years ago, Beetle was no more common like it was in the 70s, 80s and 90s but I know some people around me that were still using it even 10 years ago but now no more.
(ii). Radio
We were still using this type of radio up to around 2004, but I know a friend that were still using it 10 years ago.
(iii). Television with hunch back
(iv). Vinyl Record
I remember when my dad use to have it, I wasn't happy when he sold it out for reasons I cannot remember. The big black disk plate is still available in my house in the village up till date inside a big carton.
(v). Old telephone
Is the value of currency used in your country appreciating or depreciating?
The value of currency used in my country today is of big concern, unlike the situation in other countries, my countries' currency value keeps on depreciating day by day.
There was a time according to history that my countries currency which is naira was exchange to Dollar at equal value rate that is #1=$1.
But it might interest you to know that today reverse is the case, even our highest currency note which is#1,000 is by far not a match to $1.
A dollar in the black market exchange rate is about #1,500 to #1,600 there about. When you try to compare the current notes of other countries with Naira the results is very dissatisfying and of a serious concern.
Deliberate on the prices of 5 commodities in your country 10 years back and now.
The depreciating value of Naira over the years has brought about a huge difference on the price of commodities in my country. Below is the price difference of 10 years back and the current market price of commodities in my country which I believe will live your mouth wide open.
2014 vs 2024 Price of Commodities
2014; 50kg Bag of foreign Rice was #10,000 but now 2024 a 50kg bag of local Rice is #60,000
The price of rice today has increased to more than 6 times from 2014 till date. The above price in 2014 is even for foreign Rice while the #60000 for 2024 is even for local Rice; this is because the Federal Government over the years have banned foreign Rice in the market in other to encourage local consumption.In 2014; 50kg Bag of Gari was #3,500 and now #50,000. Gari in the pass use to be seeing as a common man's food, but is not so today.
2014; a bag of Cement was between #2,000 & #2,200 but now is #11,000 & #12,500. The difference is about 5 times more than.
2014; Cooking Gas was #216 to 225 per kg but today is #1000 to #1200 per kg
2014; 1 litre of Petroleum was #97 but today is #690 per litre as retail pump price in my place.
Has these changes affected you? If yes, how. If no, tell us your secrets
Looking at the current price list of the above commodities, the difference is too much that I think very few people will say they are not affected. Unfortunately, these things affects me almost on every side.
As the head of the family, the welfare of the entire family members lies on my own shoulder, their social needs ranging from feeding, health, school fees, clothing and many other bills.
My salary is not sufficient to take care of the entire family demands anymore because of the price of virtually everything in the market. The increment on the part of the children's school fees is another thing entirely.
Things are no longer the way they use to be, we no longer eat freely like before. The cost of transport fare to and fro office, and for the children to and fro school and other local transportations is unbearable.
I will like to invite my friends, @josepha, @ruthjoe, and @samuelernest to join this contest.
Hi dear, how are you feeling today?, You really write well dear, your post is really interesting, thanks for sharing your thoughts on the changes in your country over ten year ago. It's unfortunate to hear about the depreciation of the currency and the increasing cost of living affecting people negatively. Your analysis provides valuable perspective on the economic challenges faced by many in the country. Best regards dear.
Bro it is well with your country, the economy is too harsh on the citizens, only God can heal your country bro. I wish you good luck in your entry.
Is good to know the current situation faced by your country. The rise in price base on your analysis is truly unbearable. I pray for a positive change.