₦70,000 Minimum Wage Can Only Buy 50 Litres Of Petrol-Nwaokobia Says N30,000 Before Can Buy 115Ltrs

According to Symfoni TV on Wednesday, October 14, 2026, political commentator Chris Nwaokobia has criticised the rising cost of living in Nigeria, saying the purchasing power of workers has declined significantly despite the increase in the national minimum wage from ₦30,000 to ₦70,000.

Nwaokobia made the remarks while discussing the economic difficulties confronting Nigerians and the growing debate over President Bola Tinubu’s administration.

Speaking during the programme, he compared the quantity of petrol that workers could purchase with their salaries three years ago with what the current minimum wage can buy.

He said the comparison illustrated the extent to which rising fuel prices had affected the value of workers’ earnings and their ability to meet basic needs.

“We live in a country where, three years ago, ₦30,000 could buy between 115 and 130 litres of fuel, depending on where you bought it. That was the minimum wage then,” Nwaokobia said.

He argued that the increase in the minimum wage had not translated into a corresponding improvement in the purchasing power of ordinary Nigerians.

“₦30,000 could buy much more than the ₦70,000 minimum wage can buy today. At present, ₦70,000 can purchase only about 50 litres of fuel. That shows how badly the value of our currency and the standard of living have declined,” he added.

The commentator said the rising cost of petrol had become a major concern for workers and households, particularly because fuel prices affect transportation, food distribution and the cost of several goods and services.

Nwaokobia also accused the government of allowing ethnic divisions to overshadow public discussions about economic hardship and accountability.

He argued that dissatisfaction over the rising cost of living should be addressed through discussions about government policies rather than being framed along ethnic lines.

“Rather than allowing this situation to become a strong basis for public discontent and agitation against the present order, the government has weaponised ethnicity,” he said.

Nwaokobia further described what he said were recurring arguments on social media, where opposition to Tinubu’s administration was sometimes presented as an ethnic disagreement.

“When you engage people online, they tell you that certain ethnic groups do not want Tinubu to return to office. They claim that some people are plotting against him or opposing his administration because of their ethnicity,” he said.

His comments come amid continuing public debate over petrol prices, inflation, wages and the impact of economic reforms on Nigerian households.

The federal government increased the national minimum wage to ₦70,000 in 2024, following negotiations involving organised labour and government representatives. However, the increase has been accompanied by concerns about the rising cost of essential goods and services.

Nwaokobia’s remarks highlight the importance of purchasing power in assessing workers’ welfare and the need for public debate to focus on economic conditions, policy decisions and accountability.

He maintained that the difficulties faced by ordinary Nigerians should remain central to discussions about governance, rather than being overshadowed by ethnic divisions.

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