Political economist and former presidential candidate, Prof. Pat Utomi, has criticised President Bola Tinubu over the state of the economy, questioning how the President sleeps at night amid rising poverty and high fuel costs.
In a video shared on X on Friday, Utomi said it was a moral outrage that Nigerians are struggling to survive in a country blessed with abundant resources.
He compared Nigeria with other oil-producing nations, stating that a litre of fuel costs N32 in Libya where minimum wage is about $208 (N276,000), and about N823 in Saudi Arabia where minimum wage is about N1.4 million, while Norway uses oil proceeds to fund citizen benefits.
In Nigeria, he noted, minimum wage is N70,000 (about $52) while a litre of fuel sells for between N1,300 and N1,900 in some areas.
“Anyone earning N100,000 a month in Nigeria is still struggling to make ends meet and may be closer to the poverty line. How does he even sleep at night?” Utomi asked.
He also lamented the earnings of university professors, saying many earn about N500,000 monthly but spend up to N150,000 to N200,000 on power alone.
“Less than N100,000 a month minimum wage. It takes nearly two and a half times that much to fill the tank of my car,” he said.
Utomi’s comments come almost three years after President Tinubu announced fuel subsidy removal on May 29, 2023, a decision that led to nearly 300% increase in petrol prices.
According to a report by Agora Policy, supported by the NEST programme, poverty rose from 49.8% before the reforms to 63.3% after. The cost of a healthy meal increased from N515 in June 2023 to N1,611 in July 2025, intercity transport from N4,000 to N7,700, and annual rent from N1.79 million to N4.50 million.
The World Bank estimated that 63% of Nigerians, about 152 million people, were below poverty line by 2025. A PiggyVest report also found 58% of Nigerian adults earn below N100,000 or have no income.
Former Vice President Atiku Abubakar had earlier said that at N1,400 per litre, the N70,000 minimum wage can only buy 50 litres of petrol.
Utomi, who previously suggested N750 per litre through local refining and transparent crude pricing, described the current economic management as a Ponzi scheme.