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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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Abia Govt Begins Major Crackdown On Street Trading, Road Obstructions In Aba

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Abia State Government, through its Harmonized Taskforce, carried out an extensive enforcement operation in Aba, targeting street trading, illegal parking, road obstructions, and unauthorized loading and offloading of vehicles.

This decisive action, tagged “Operation Restore Absolute Sanity,” is to instill orderliness, cleanliness, and civility in the state.

The operation covered major junctions and roads, including Osisioma Junction, Tonimas, Enyimba, Double Pole, Ariaria Junction, and Park Road.

Traders and motorists who had encroached on public spaces and blocked drains were compelled to vacate these areas, as the taskforce dismantled illegal structures and cleared obstructions.

Led by Bob Wogu, the chairman of the Abia State Harmonized Taskforce, and joined by the Commissioner for Transport, Hon. Uzor Nwachukwu, the enforcement team showcased its resolve to restore sanity to the bustling commercial city.

Speaking during the exercise, Hon. Nwachukwu emphasized the government’s zero-tolerance policy towards activities that impede free movement and endanger public health and safety.

The taskforce had earlier issued warnings, urging residents and traders to voluntarily remove illegal structures and desist from trading on roads and gutters.

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Residents Rush To Scoop Groundnut Oil As Another Tanker Overturns In Niger, Three Days After 98 Were Killed In Explosion.

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Trending videos show dozens of residents in Bida town, Niger State, collecting groundnut oil after a tanker overturned near Shafa filling station in the Esso area.

According to reports, the incident occurred on Tuesday morning, just three days after the deadly tanker explosion on Dikko-Maje Road, near Badeggi filling station in Suleja Local Government Area, which resulted in the loss of 98 lives.

Reports indicate that those gathered to collect the spilling fuel were caught in an explosion, which also impacted those trying to assist the victims.

The fire spread across a large area, leaving behind charred remains and widespread destruction.

The explosion is said to have occurred around 9:00 am while efforts were underway to transfer PMS from the overturned tanker to another vehicle.

Despite the recent tragic incident in Suleja Local Government Area, new videos from Tuesday morning show residents in Bida approaching the fallen truck with jerry cans and buckets to collect the spilled groundnut oil near a filling station in the town.

 

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Ekweremadu’s wife returns to Nigeria after release from UK prison

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Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President, Senator Ike Ekweremadu, has returned to Nigeria, according to the Vanguard Newspaper.

It will be recalled that Senator Ekweremadu, his wife, and Dr. Obinna Obeta were sentenced by a UK court on charges related to organ harvesting.

The former Deputy Senate President was sentenced to 10 years in prison, while Mrs Ekweremadu received a six-year sentence.

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