Nigerian PhD holders would need 85 years of savings to afford Lawmakers’ N160 Million SUVs — Peter Obi

Labour Party’s presidential candidate in the last general election, Peter Obi, has expressed deep concern over the exorbitant cost of governance in Nigeria, highlighting that an average PhD holder would have to save for years to afford the N160 million SUVs driven by lawmakers. 

Obi, in a series of X’s post on Friday, said the reckless spending in the government is responsible decline in the standards of our university education.  

He lamented that while a Grade 2 lecturer might earn just N150,000 per month, an average lawmaker takes home about N21 million monthly, revealing a stark disparity between the government’s prioritization of education and its own extravagant expenses. 

“A recent news story attributed to the Executive Secretary of the National Universities Commission (NUC) regarding the decline in the standards of our university education has highlighted the significant challenges facing our education system. 

“According to the Executive Secretary, the situation requires the production of more PhD holders to address these issues. However, the Executive Secretary’s solution overlooks several obstacles, such as the unnecessarily prolonged time it takes to obtain a PhD in Nigeria and the frustrating disparity between wages and the level of academic attainment in the country.  

“If fortunate, one might be employed as a Lecturer Grade 2 with a monthly salary of around N150,000, often paid irregularly, totaling N1.8 million annually.  

“In stark contrast, our legislators, whose required educational qualification is merely a secondary school certificate receive a monthly salary of 21 million, which is more than 10 years salary of a PhD holder.  

“This disparity is the root of the problem. Additionally, legislators are provided with SUVs worth N160 million from the public purse. For a PhD holder to afford such a vehicle, it would take over 85 years of saving every kobo earned,” he said. 

Government should invest in Education

In addition, Obi said the government needs to prioritize investment in education as opposed to spending on its own expenses.  

According to him, such investment will promote a culture of knowledge, expertise and rather than political positions and influence.  

He mentioned that this shift in system is required to restore Nigeria’s prestige in the education global ranking across the world.  

 “The solution lies in shifting our society from a consumption-driven mindset to a production-oriented approach, where hard work, innovation, and talent are valued and rewarded. 

“By prioritizing investment in education and innovation, we can create a system that celebrates knowledge, expertise, and dedication, rather than political positions and influence. 

“This transformation is essential to restoring Nigeria’s former prestige in global education rankings and elevating the quality of our higher education system,” Obi added.  

What you should know

There has been an ongoing campaign by the public to reduce the cost of governance.  

Public outcry has intensified, particularly regarding the President’s expenditure on foreign trips. For instance, Nairametrics reported that President Tinubu spent billions on foreign travel, despite the country’s rising inflation and high cost of living.  

In response to these concerns, the President approved the much-debated Oronsaye Report, which aims to reduce the number of government agencies and cut the cost of governance.  

However, the implementation of these measures remains uncertain.