Atiku: Under Tinubu, monthly wage can disappear into just 40 litres of petrol

Former Vice President Atiku Abubakar has sharply criticized President Bola Tinubu’s economic policies, claiming that the high cost of petrol in Nigeria threatens the very existence of the minimum wage. In response to Tinubu’s recent remarks questioning proposals to lower energy costs, Atiku’s media aide Phrank Shaibu highlighted that at current prices, buying just 40 litres of petrol costs around ₦56,000 – roughly 80% of Nigeria’s ₦70,000 statutory minimum wage.

This leaves low-income earners with only ₦14,000 for basic necessities like food, rent, transportation, electricity, and healthcare. Shaibu argued that this calculation underscores the severe impact of rising energy costs on ordinary Nigerians, noting that the effect extends beyond petrol to transportation, food prices, farming, and other sectors.

The Atiku camp also pointed out that Nigeria’s petrol prices are significantly higher than those in other oil-producing nations, questioning why citizens have endured this burden for over three years despite the country’s status as a major oil producer. They accused the Tinubu administration of inconsistency for criticizing Atiku’s call to reduce energy costs while simultaneously promising cheaper transportation and relief for vulnerable Nigerians.

Atiku’s proposed Economic Recovery Plan aims to curb energy costs through targeted support for Nigerian crude supplied to domestic refineries, arguing that this would have a ripple effect on the economy by lowering transportation and agricultural costs. Shaibu demanded greater transparency over the use of funds from the petrol subsidy removal, which reportedly generated ₦15.8 trillion between June 2023 and December 2025, and questioned discrepancies involving ₦30 trillion in Federation Account revenues.

He also demanded disclosure of beneficiaries and public benefits associated with Import Duty Exemption Certificate approvals covering about ₦34 trillion worth of imports in 2025. The Atiku camp insisted that Nigerians need structural economic relief rather than temporary palliatives, questioning the timing of the administration’s promises of cheaper transportation, increased food production, and relief for the vulnerable ahead of the 2027 general elections.