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Petrol price comparison in naira using CBN exchange rate:
Spain = 246.9 Naira per litre.
USA = 403.3 Naira per litre.
UK = 330.6 Naira per litre.
Germany = 330.6 Naira per litre.
France = 335.7 Naira per litre.
Nigeria = 500 to 600 Naira per litre.
Minimum wage comparison using CBN exchange rate:
Spain = 535,559 Naira per month.
USA = 535,340 Naira per month.
UK = 955,876 Naira per month.
Germany = 947,618 Naira per month.
France = 866,241 Naira per month.
Nigeria = 30,000 Naira per month.
So, when next somebody tells you that fuel subsidy is not sustainable, ask him or her what the minimum wage of a Nigerian civil servant is?
Until the issue is addressed, average Nigerians will dearly suffer the adverse effects of this subsidy fraud and hasty fuel price hike without any measures to cushion the untoward effects.
ยฉ Culled