HAPPY INTERNATIONAL WORKERS’ DAY TO THE ENGINE ROOM OF ANAMBRA AND NIGERIA!- SOLUDO (PHOTO). #PRESS RELEASE

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 Happy International Workers’ Day to the engine room of Anambra and Nigeria! Today, I salute every Anambra worker — teachers shaping minds in our classrooms, doctors and nurses saving lives, civil servants keeping the system running, artisans, traders, farmers, and tech innovators building value daily. You are the true builders of the Anambra of our dreams. Our administration remains committed to a productive, competitive, and prosperous Anambra where the dignity of labour is respected and rewarded. From prompt payment of salaries and pensions, to ongoing reforms for a 21st century civil service, to creating an environment where private sector jobs can thrive — we are laying the foundation for One State, One People, One Agenda. To every worker: your sweat is not in vain. Aka aja aja na-ebute ọnụ mmanụ mmanụ. Let us continue to work together to build a livable and prosperous homeland. May Anambra continue to win!
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YESTERDAY I SPENT N100K ON FUEL- OSITA CHIDOKA. (PHOTO).

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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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