Atiku Demands Immediate Review of ₦70,000 Minimum Wage Amid Soaring Fuel Prices

Former Vice President and 2023 presidential candidate Atiku Abubakar issued a sharp critique of President Bola Tinubu’s economic policies, demanding an immediate upward review of the national ₦70,000 minimum wage.
In a statement released through Phrank Shaibu, Director of Strategic Communications for the African Democratic Congress (ADC) campaign, Atiku argued that the recent surge in petrol prices to ₦1,400 per litre has completely wiped out the intended relief of the updated wage floor.

Key Highlights of Atiku’s Statement

• Erosion of Purchasing Power: Atiku illustrated the wage decline by pointing out that the current ₦70,000 monthly wage can buy only 50 litres of petrol at ₦1,400 per litre. By contrast, under the previous ₦30,000 minimum wage in April 2023 (when petrol averaged ₦254 per litre), a worker could buy 118 litres.

“The payslip has grown, but the purchasing power has shrunk. Workers now earn a bigger figure but can afford less.” — Atiku Abubakar

• Economic Ripple Effects: He emphasized that high petrol costs directly inflate the cost of food, transport, electricity, and housing, leaving virtually nothing for healthcare or basic upkeep once commuting expenses are paid.
• African Comparison: Atiku noted that despite being an oil-producing giant, Nigeria’s real minimum wage value trails behind African peers like Libya, Algeria, and Gabon when measured by inflation-adjusted purchasing power.
• Policy Alternatives: Atiku pledged that if elected under the ADC banner in 2027, he would begin revising the minimum wage floor on his first day in office. He also outlined plans for a targeted production subsidy on locally refined petroleum products governed by spending caps and independent auditing.