Senator Adams Oshiomhole (APC, Edo North) has incurred the wrath of Nigerians following his defence of President Bola Tinubu’s economic reforms, using a comparison of what N2,000 can purchase in Nigeria and what $1 can buy in the United States.
Oshiomhole, a former Governor of Edo State and former President of the Nigeria Labour Congress (NLC), argued that while N2,000 could still buy food from a local restaurant, popularly known as ‘mama put’, one dollar could not purchase anything substantial in the United States.
“In Nigeria, N2,000 can get you something from mama put, but $1-something cannot buy you anything in the US,” he said.
The statement, circulated on Wednesday, November 5, by Channels Television journalist Seun Okinbaloye, has generated considerable debate on social media, with several Nigerians challenging the senator’s comparison against the backdrop of rising food prices, declining household purchasing power and the increasing difficulty of meeting basic needs.
The remarks come amid continuing public debate over the consequences of Tinubu’s economic policies, particularly the removal of petrol subsidy and the unification of the foreign exchange market, which have contributed to significant adjustments in the prices of goods and services.
While the Federal government has consistently defended the reforms as necessary to address structural weaknesses in the economy, improve government revenue and attract investment, many Nigerians continue to complain about the pressure of rising living costs.
Financial analyst Kalu Aja challenged the senator’s assertion, pointing to the existence of low-cost retail outlets in the United States where goods are sold for around $1.25.
“There are literally $1.25 stores in America,” Aja wrote in reaction to the statement.
His response questioned the suggestion that one dollar had no purchasing power in the United States.
Another commentator, Akuabatala, questioned the basis of comparing the two currencies without considering their relative values.
“When your N1 suppose to be $1 equivalent, why don’t you use N1.00 instead of your highest denomination?” the commentator asked.
Myke expressed disbelief at Oshiomhole’s remarks, writing: “Never believe Oshiomhole would degenerate to this level of lunacy.”
Similarly, another user, SG1, questioned the senator’s position, asking: “What happened to this man?”
The commentator added that Oshiomhole’s political evolution appeared to be moving backwards.
Kenary also questioned the former labour leader’s political transformation, accusing him of abandoning the interests of ordinary Nigerians after entering government.
“His manners after he got money from the government show everything; he never cared,” the commentator wrote, also drawing comparisons with the political journeys of other prominent figures.
Another user, Segunowo, challenged the senator’s argument, asking: “Oshi-omole, what will N1 buy us in Nigeria?”
OccupyNigeria also dismissed the comparison, asking: “Which kin foolishness be this?”
Several reactions focused on the disparity between workers’ earnings and the cost of basic necessities in Nigeria and the United States.
One commentator argued that workers in parts of the United States earning about $10 per hour could earn approximately N15,000 in an hour, depending on the exchange rate, while Nigerian workers earning the national minimum wage of N70,000 had to depend on the monthly amount to meet their basic needs.
The commentator questioned the logic of comparing the price of a meal in Nigeria with the purchasing power of a dollar in America without considering how much workers earn and the time required to afford basic necessities.
“If person work for one month to get 2k, if he go chop once a day for 30 days, then na 60k gone. So only 10k go dey available for transport, rent, medicine, how that one make sense?” the user wrote.
Another commentator, Steve, accused the senator of overlooking fundamental differences in governance and public infrastructure between Nigeria and the United States.
“See gaslighting! America has good governance, basic infrastructure, relatively steady electricity and institutions that hold public officials accountable,” Steve wrote.
The commentator further accused the government of assuming that Nigerians would accept such comparisons without questioning the economic realities confronting them.
The reactions reflect wider concerns over the relationship between nominal prices, workers’ earnings and actual living standards, particularly as households struggle to cope with the rising costs of food, transportation, accommodation and healthcare.