Former Minister of Aviation, Osita Chidoka, has drawn attention to the significant gap between fuel prices and minimum wage earnings in Nigeria, describing the situation as unsustainable for low-income earners.
Sharing his personal experience, Chidoka revealed that he spent ₦100,000 on fuel for his Lexus 460 SUV, a figure that exceeds Nigeria’s minimum wage of ₦70,000 by ₦30,000.
Chidoka pointed out that a minimum wage worker, earning ₦437.5 per hour, needs to work 2.6 hours to afford just one litre of petrol, currently priced at ₦1,140. This paints a concerning picture of the affordability of basic necessities for many Nigerians.
In comparison, he noted that minimum wage earners in Egypt and South Africa face less pressure. In Egypt, with a minimum wage of ₦202,400 per month and petrol priced at ₦443 per litre, workers only need 21 minutes of labor to afford a litre. In South Africa, with a higher minimum wage of ₦395,824 and fuel at ₦2,480 per litre, it takes just over an hour to purchase the same amount.
Chidoka emphasized the need to reevaluate Nigeria’s economic strategies, stating, “Fuel prices may not be high by global standards, but incomes are too low to sustain meaningful consumption.” His remarks highlight the struggles of low-income earners, urging policymakers to focus on boosting earnings and addressing the disparity between wages and rising costs.
