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Yesterday, I spent ₦100,000 on fuel, nearly filling the tank of a Lexus 460 jeep. At ₦1,140 per litre, I realised this amount is ₦30,000 higher than Nigeria’s ₦70,000 minimum wage.- Fmr Aviation Minister Osita Chidoka

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Yesterday, I spent ₦100,000 on fuel, nearly filling the tank of a Lexus 460 jeep. At ₦1,140 per litre, I realised this amount is ₦30,000 higher than Nigeria’s ₦70,000 minimum wage.

A minimum wage earner in Nigeria, working 8 hours a day for 20 days a month, earns approximately ₦437.5 per hour. It takes 2.6 hours of work to afford a litre of petrol.

A young graduate earning ₦150,000 monthly requires 1.2 hours of work to purchase a litre.

In comparison:

Egypt: Fuel costs ₦443 per litre, and the monthly minimum wage is ₦202,400 (₦1,265 per hour). It takes 21 minutes of work to buy a litre.

South Africa: Fuel is ₦2,480 per litre, and the minimum wage is ₦395,824 (₦2,320 per hour). It takes 1 hour and 4 minutes to buy a litre.

In Nigeria, a minimum wage earner needs 2.6 hours to buy a litre of fuel, compared to 21 minutes in Egypt and 1 hour and 4 minutes in South Africa.

My take: Fuel prices in Nigeria may not be high by global standards, but it appears incomes are too low to sustain meaningful consumption. It’s time to rethink our economic growth and production strategies.

*used ₦1600 as exchange rate

Osita Chidoka
12 October 2024

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Chaos As Military Officers Exchange Blows During Tinubu’s Visit To Bayelsa (Videos)

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Personnel of the Nigerian military were seen engaging in a fight during the visit of President Bola Ahmed Tinubu to Bayelsa on Friday.

In a video spotted on social media, the driver of a Hilux vehicle marked “Naval Police” was seen stepping down from his vehicle and exchanging words with another driver.

After returning to his vehicle, another driver with a rifle approached him and threw a punch at the Naval Police driver, triggering a brawl.

The incident quickly escalated into a free-for-all, with personnel attached to both vehicles exchanging blows, while stunned civilians watched in disbelief.

The cause of the altercation could not be immediately ascertained as of press time.

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HRH Ekwueme of Ochia Kingdom Iynched & kiIIed in Imo.

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Gunmen on Friday night killed the traditional ruler of Ochia, Barr Paulinus Ekwueme, alongside security operatives in the Ohaji/Egbema Local Government Area of Imo State. The attackers ambushed the monarch at the boundary of Assa and Ochia communities after he returned from a trip abroad earlier in the week.

Some security operatives in his convoy were also shot dead. Eyewitness said the monarch and the security operatives were set ablaze after the killing, adding that the Ohaji/Egbema Local Government Area had been thrown into mourning.

Hrm lives in America, but some in his town accuse him of acquiring lots of wealth coming from the oil in their land and yet they have no nepa (light) and other amenities, and that this angered the youths of his community to take this step. One said Ms Duruaku wrote, “he ate the youth empowerment meant given to him by shell oil company and ran abroad for years”


#Ekwutosblog

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Abuja hotel collapse: Wike orders arrest of owner, to convert land to public use

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The Minister of the Federal Capital Territory, Nyesom Wike, has ordered the immediate arrest of the owner of a multi-story hotel that collapsed in Jikwoyi, Abuja last Friday, April 4 and announced that the land would be seized for public use.

LIB had reported that the building crumbled while workers were on site, triggering an emergency response from relevant authorities.

Visiting the site today April 7, Wike said the building was constructed without approval from the FCT Department of Development Control and that all the stop-work notices sent to the builders were ignored by the developer.

Wike confirmed that while there were no fatalities, several people sustained injuries and were taken to the hospital. He warned that the outcome could have been far worse.

Announcing the government’s plans for the land, Wike said the FCT Administration will take over the land for public use, noting that those responsible for the illegal construction will face prosecution in accordance with the law.

He added that the local community would be consulted to determine a suitable public-purpose project for the reclaimed site.

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