The role of money in the lives of humans and even non-living entities like a company can never be underestimated. It is almost the only thing that is said to flow around apart from water, hence it is called currency – from "current". As you may have known, I am a Nigerian and the legal tender here is the Naira (NGN). The exchange rate of the dollar to naira is diatomic in nature. One is the conventional bank rate and the other is the black market - which is run by private individuals.
Presently, the bank rate is about 480 Naira, and that of the black market is 600 Naira per USD. But for the purpose of this piece, I’d use the latter since it’s the one that is readily available.
The above fact means $1000 is about 600,000 Naira. Wow! That is a huge sum of money here. Hence, the reason everyone clamours to earn in dollars no matter how small. And fortunately, the HBD Is almost equal to $1. That $1k if it were my salary at this stage of my life, I am made already! Well, see ...
For me, on average when I eat out I spend a little above $0.5, but more when I cook myself. Going to real estate, with the same $1k if I go into the deeps of some villages I will definitely get more than an acre of land. Yes!` Maybe this is why when I see the prices of some Iphones, I tend to calculate the plots of land a human is holding in his palm. In fact, you can only afford a motorcycle or maybe a half-car (if possible 🤣) with a thousand dollars. But I will definitely go to invest it in landed properties.
Majorly, only big private companies can pay that amount of salary to a near-low-level worker. Government workers must have spent an eternity to earn such an outrageous amount where the minimum wage is $50.
This is my entry for the Bhattg’s contest: What is the value of $1000 for you?