Earnings Have Lost 71% Value in Dollar Terms, Laments Papa Ajasco

By Momodu Favour

Veteran Nigerian actor, Abiodun Ayoyinka, popularly known for his role in the long-running comedy series Papa Ajasco & Company, has revealed that although his pay per episode has increased over the years, the real value of his earnings has significantly declined.

According to the actor, he currently earns ₦45,000 per episode, compared to ₦2,500 per episode when he started on the show in 1997.

However, despite the numerical increase in naira, the value of the payment in U.S. dollars has dropped sharply due to the depreciation of the Nigerian currency.

In 1997, when he began acting in the series, the exchange rate was approximately ₦21.89 to one dollar, meaning his ₦2,500 pay was worth about $114.21 per episode.

By 2026, with the exchange rate around ₦1,365.73 per dollar, his current ₦45,000 payment translates to roughly $32.95.

This means the dollar value of his earnings per episode has fallen by about 71.1 per cent, despite the ₦42,500 increase in his nominal pay.

In real terms, the actor earned about 3.4 times more per episode in 1997 than he does today, highlighting the impact of currency depreciation and inflation on earnings in Nigeria’s entertainment industry.

The revelation has sparked conversations online about the economic challenges facing Nigerian actors and the wider creative industry, particularly as rising costs of living continue to outpace income growth.