Thomas Samuel
@thomassamuel179611
1 year ago

In 1981, our Nnewi neighborhood had a significant number of Ghanaians who had left their country due to high inflation. People commonly said "There was no money in Ghana" to describe this situation. As kids, many of us asked why they couldn't simply print more money. Drawing from adult discussions I overheard, I tried to explain this to my friends, even though it wasn't entirely clear to me.

I used a simple analogy, saying, "It's like buying a can of Peak milk for ₦5." The reaction from the other children was astonishment because, at that time, a can of Peak milk cost only about 15 kobo, far less than one naira, let alone five naira.

We believed it was impossible for a can of milk to cost ₦5; it seemed like doomsday. However, a couple of years later, during Buhari's military rule, prices of goods skyrocketed. I can't recall exactly when, but between his leadership and Babangida's, the price of a can of milk did indeed reach ₦5 and continued to rise. I wished I could gather my friends to remind them of my earlier explanation about the Ghanaian inflation era using the price of a can of milk.

The attached picture shows that, under Tinubu's administration, the current price of Peak milk is ₦590. Nobody knows what the future holds in terms of prices in Nigeria. When it comes to anything related to Nigeria, the rule is: "Never say 'Never'!" Because sooner or later, circumstances change, and you might have to reconsider your words. It's just a matter of time.

Copied