Nigeria’s economic hardship has come under fresh scrutiny following a comparison of fuel prices, minimum wages and the benefits citizens receive in other oil producing countries.
The comparison, shared by economist Pat Utomi, highlights the growing pressure on Nigerian workers who face high fuel costs, low earnings and rising living expenses despite the country’s vast oil wealth.
In Libya, a litre of fuel reportedly costs about ₦32, while the monthly minimum wage is estimated at $208, equivalent to roughly ₦276,000. The figures point to a wide gap between the cost of fuel and the earnings of ordinary workers compared with the situation in Nigeria.
Saudi Arabia also presents a striking contrast. A litre of fuel costs approximately ₦823, while the estimated monthly minimum wage cited in the comparison stands at about ₦1.4 million.
Norway, another major oil producing nation, offers a different example of how natural resources can benefit citizens. The country uses income from its petroleum industry to support public services and long term national wealth, helping to ensure that oil revenues contribute to the wider economy.
Nigeria, however, continues to struggle with the gap between its natural resource wealth and the living conditions of many citizens.
The country’s statutory minimum wage is ₦70,000 per month, while petrol prices are reported to range between ₦1,300 and ₦1,900 per litre in some locations. At an estimated exchange rate used in the comparison, the monthly minimum wage amounts to about $52.
For workers who depend on public transport, generators and other fuel powered services, the high cost of petrol adds to the pressure on already limited incomes. Food, housing, electricity, healthcare and transportation costs further reduce the amount of money available for basic needs.
The situation has also raised concerns about the purchasing power of middle income earners. According to the argument presented in the comparison, earning ₦100,000 a month may still leave a Nigerian struggling to meet basic expenses.
Utomi also drew attention to the disparity between Nigerian salaries and earnings in wealthier economies, arguing that even a young worker flipping burgers at McDonald’s in the United States could earn more than a bank manager in Nigeria.
The comparison reflects wider concerns about the value of Nigerian wages, although actual earnings vary by job, location, working hours and employment conditions.
At the centre of the debate is a question about how Nigeria manages the benefits of its natural resources and why ordinary citizens continue to face severe economic pressure in an oil producing country.
For many Nigerians, the issue goes beyond the price of petrol. It concerns whether wages can provide a decent standard of living, whether public resources are being used effectively and whether economic growth is translating into better conditions for ordinary households.
The comparison has also placed renewed attention on the responsibility of political leaders to address the cost of living crisis and improve the welfare of citizens.
Utomi questioned whether President Bola Tinubu fully appreciates the hardship facing millions of Nigerians, pointing to the contrast between the country’s abundant natural resources and the daily struggle many people face to survive.
The figures and comparisons have renewed a familiar debate about Nigeria’s oil wealth, workers’ earnings and the need for policies that improve living standards.
For millions of households, the pressing concern remains whether their income can keep pace with the cost of food, fuel, transport and other essentials.
Until wages offer greater purchasing power and the benefits of national resources reach more citizens, Nigeria’s economic hardship is likely to remain a major source of public frustration.
