Political economist and former presidential candidate Professor Pat Utomi has criticised President Bola Tinubu’s economic policies, questioning how the President can sleep while millions of Nigerians struggle with high petrol prices, low wages and rising living costs despite the country’s abundant natural resources.
In a video shared on his X account on October 16, 2026, Utomi described the economic hardship facing ordinary Nigerians as a “moral outrage” and compared Nigeria’s fuel prices and minimum wage with those of countries such as Libya and Saudi Arabia.
Key Highlights
- Pat Utomi criticises President Tinubu over high petrol prices and low wages in Nigeria.
- Petrol prices reportedly range from ₦1,300 to ₦1,900 per litre, depending on location and supplier.
- Nigeria’s national minimum wage stands at ₦70,000 monthly under the 2024 minimum wage law.
- Utomi compares Nigeria’s fuel prices and wages with those of Libya and Saudi Arabia.
- The economist argues that the benefits of Nigeria’s natural resources are not adequately reflected in citizens’ living standards.
- The Federal Government defends its economic reforms, citing additional revenue, infrastructure spending and temporary relief measures.
- Utomi has also challenged Tinubu to engage directly with Nigerians and participate in debates ahead of the 2027 elections.
Utomi Questions How Tinubu Sleeps Amid Economic Hardship
Utomi expressed concern over the financial pressures facing Nigerian workers, arguing that many people earning modest salaries can no longer comfortably afford transportation, food and other basic necessities.
“Anyone earning ₦100,000 a month in Nigeria is still struggling to make ends meet and may be closer to the poverty line,” Utomi said.
He also questioned whether the President fully appreciated the difficulties facing ordinary citizens.
“But does the President care? How does he even sleep at night, knowing that millions of Nigerians are struggling to survive in a country blessed with abundant natural resources?” he asked.
Utomi further argued that the earnings of some entry-level workers in the United States exceed the salaries of professionals in Nigeria, including some bank managers.
He also highlighted the pressure petrol prices place on household budgets, noting that filling a vehicle’s tank can consume a substantial portion of a low-income worker’s monthly earnings.
His remarks reflect broader concerns over the relationship between wages, transportation costs and the purchasing power of Nigerian households.
Utomi Compares Nigeria’s Petrol Prices With Libya, Saudi Arabia
A major part of Utomi’s criticism focused on the difference between petrol prices and minimum wages in Nigeria and selected oil-producing countries.
According to figures cited in reports of his remarks, Nigeria’s minimum wage is ₦70,000 monthly, while petrol prices range from approximately ₦1,300 to ₦1,900 per litre in different locations.
The comparison cited Libya, where petrol reportedly costs about ₦32 per litre and the estimated minimum wage is around ₦276,000 monthly. Saudi Arabia was also referenced, with petrol reportedly selling for approximately ₦823 per litre and a monthly minimum wage estimate of about ₦1.4 million.
These figures should be treated as reported estimates rather than directly comparable measures of living standards. Fuel prices, wage rules, exchange rates, purchasing power and government support arrangements differ across countries.
Nevertheless, Utomi’s comparison raises questions about how Nigeria’s petroleum resources translate into affordable energy, employment income and improved living conditions for citizens.
Tinubu’s Fuel Subsidy Removal and Forex Reforms Under Scrutiny
Utomi’s comments come more than three years after Tinubu announced the removal of the petrol subsidy during his inauguration on May 29, 2023.
The administration subsequently pursued foreign-exchange market reforms intended to reduce distortions and improve the operation of the currency market.
The changes were followed by substantial increases in petrol prices, transportation expenses and the cost of many goods and services, intensifying pressure on households and businesses.
Critics have argued that the hardship caused by the reforms has outpaced improvements in wages and living standards. The government, however, has maintained that the policies were necessary to address longstanding economic distortions and improve public finances.
Utomi has consistently advocated a production-oriented economy, reduced waste in government spending and policies that support businesses and employment rather than dependence on resource rents.
His latest comments suggest that he believes the social costs of the reforms remain a central issue that the administration must address.
Poverty and Minimum Wage Fuel Public Concerns
Nigeria’s ₦70,000 national minimum wage was signed into law in July 2024, replacing the previous ₦30,000 benchmark.
Organised labour has since argued that inflation and rising living costs have eroded the purchasing power of workers’ salaries, prompting demands for additional relief, lower petrol prices and renewed wage discussions.
The cost of transportation, food, housing and other essential expenses has become a major concern for many households.
Utomi’s remarks also draw attention to the distinction between an increase in nominal wages and an improvement in real income. Even where salaries rise, workers may be worse off if prices increase faster than their earnings.
The Federal Government has faced calls to provide more effective support for vulnerable households while pursuing reforms intended to improve the country’s long-term economic position.
Federal Government Defends Reforms, Cites Additional Revenue
The Tinubu administration has rejected calls to restore the former blanket petrol subsidy, arguing that the policy could recreate fiscal pressures, encourage smuggling and contribute to supply distortions.
Finance Minister Taiwo Oyedele has said subsidy-related reforms generated additional resources for the federation, with reports citing approximately ₦15.8 trillion between June 2023 and December 2025.
The government has maintained that these resources have helped support public spending, including wages, debt servicing and infrastructure projects.
However, the amount of additional revenue generated by the reforms does not, by itself, establish how much individual households have benefited. The distribution and practical effects of public spending remain important considerations in assessing the reforms’ impact on living standards.
The administration has also introduced temporary measures in response to fuel price pressures.
NNPC Petrol Discount and Proposed ₦1,350 Price Ceiling
Among the measures reported is a temporary petrol discount through NNPC Retail, including a ₦66-per-litre reduction at participating outlets.
The discount has been described by government officials as a reduction funded from NNPC Retail’s commercial margin rather than a return to the previous government-funded subsidy arrangement.
Officials have also discussed a proposed ceiling of approximately ₦1,350 per litre on petrol’s ex-gantry or landing cost as part of efforts to moderate price pressures.
Tinubu has said the government has waived more than ₦3.3 trillion in fuel-related taxes and duties and would not abandon Nigerians facing the effects of rising costs.
The measures are intended to provide some relief, but their impact depends on availability, distribution, implementation and the extent to which savings reach consumers.
Because petrol prices vary across locations and outlets, temporary discounts at selected stations do not necessarily translate into uniform reductions nationwide.
Read also:
- Pat Utomi Says He Would Withdraw Support If Obi Accepts 2027 VP Slot
- IMF Warns Nigeria Against Blanket Petrol Subsidy, Backs Targeted Relief
- Nigeria’s Inflation Falls to 14.63% in September 2026, but High Prices Still Squeeze Households
Utomi Challenges Tinubu to Debate Rivals Ahead of 2027
Utomi’s criticism of the economy coincides with his call for Tinubu to participate in debates with political opponents ahead of the 2027 general elections.
He has urged the President to engage directly with citizens by visiting state capitals and some rural communities rather than relying mainly on campaign representatives and political structures.
Utomi argued that presidential candidates should explain their policies and respond to questions from opponents and voters.
His call places economic policy accountability among the issues likely to feature prominently in discussions ahead of the next presidential election.
The debate over petrol prices, minimum wages and the cost of living is also expected to remain part of the wider conversation about the effects of Tinubu’s economic reforms.
Nigeria’s Oil Wealth and Living Standards Remain Central Issues
Utomi’s intervention has renewed attention to the gap between Nigeria’s natural-resource wealth and the everyday experiences of many citizens.
The Federal Government points to additional revenue and temporary interventions as part of its defence of the reforms, while critics argue that the effects on household budgets require more urgent attention.
The central question is whether economic restructuring can translate into higher real incomes, more affordable transportation, stronger employment opportunities and improved access to essential goods and services.
For millions of Nigerians, the practical test of economic policy remains its effect on their ability to meet daily expenses. Utomi’s comments add to the debate over how the government can balance fiscal reforms with measures that protect living standards.
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