According to Peter Gregory Obi, a candidate for president from the Labour Party in the February 25 presidential election, university lecturers were paid N1,000 and N1,200 (about $1,600 and $2,000 at the time) in 1980.
He said it while addressing at the Princeton University Chinua Achebe Symposium in the United States.
He was reacting to the purchasing power of the naira when he made the statement
According to Obi, the purchasing value of dollar against the Naira is about tenth of its value
He said between 1980 and 1983, university lecturers were paid N1,000 and N1,200 and if exchanged for the dollar as at then, would be around $1,600 and $2,000 respectively. He proceeded to say that if a proffesor is lucky to be paid as at when due today, he will earn N400,000 which is approximately $400 today.
Kindly read part of his post below
