When we talk about poverty, many think it's the people living in shanties...Lol

If you didn't know, every single Nigerian is taking a pay cut every month

How do you guys think Venezuela happened? https://twitter.com/BBGAfrica/status/1327279171756814336

The first mistake you're making is assuming that the Naira(& any asset) has an inherent static value - False

The value of the naira in your bank account depends on inflation & exchange rate - Ask what those are today

Money is leaving your account every day - without debit alert

You must have noticed when you go to that your bulk monthly shopping, what you used to spend is no longer close to being enough

You have started dropping some items back at the check out counter

Your salary did not change - But you are poorer my dear

Technically, if hyperinflation continues unabated, the 1 million you have sweated for years to save up will end up being only enough to buy one phone

This is not theory - Happens we have Venezuela to look up to

And we are well on our way

https://www.bruegel.org/2018/02/venezuelas-hyperinflation/

Now you are losing money held in Naira, only option would be investments or business to increase or preserve its value right?

Well, 1984 took care of that too

Check TB & Fixed deposit rates - Then for business, check security, disposable income, extreme taxation & the border

So you are locked

-Inflation
-Restrictions on converting Naira to USD
-Sub-one percent rates for money market investments
-Jumanji-level dangerous & risky business environment

All you can do is sit & watch all your sweat erode into worthlessness

This is happening in real time

Given current policy conditions, the future of every middle class person in Nigeria is poverty or economic exile - You will have to choose

So when they tell you "They are the same", remember you are the one who can no longer afford food - with worse to come

Anyway, as you were