A video shared by a user on X has triggered a flood of comments after comparing the cost of living abroad with just $5,000 to living in Nigeria with ₦30 million. The speaker in the video claimed that despite the wide difference in exchange rates, $5,000 offers more value, peace of mind, and access to stable infrastructure than ₦30 million can in Nigeria.
He emphasized that he’s not saying people don’t live well in Nigeria. Still, he stressed that the financial pressure on ₦30 million is heavier due to economic instability, lack of insurance, and unpredictable government policies. According to him, a single bad policy could wipe out the value of that money overnight.
He explained how simple systems abroad—like car leasing, home mortgages, and insurance—make it easier for people to survive on a modest income. With $5,000, one could pay a deposit for a car, rent a small apartment, and still enjoy peace of mind. In contrast, ₦30 million in Nigeria often gets drained by multiple costs, including taxes, informal payments, police, tutors, and even feeding home lesson teachers.
The speaker also pointed out that insecurity and inflation make it hard to protect Nigeria’s wealth. He used an example: a fire outbreak could destroy everything with no backup system, unlike abroad, where insurance can help people recover. He added that even children eat at school abroad without extra drama from private tutors.
The video has since gone viral, with many Nigerians supporting the view, especially those who have lived both locally and abroad. Others, however, argued that quality of life depends on personal choices, family needs, and long-term goals.
