Oshiomhole: N2,000 can still buy food in Nigeria, unlike $1 in US

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Senator representing Edo North, Adams Oshiomhole, has defended President Bola Tinubu’s economic reforms, arguing that the cost of living in Nigeria remains relatively lower than in the United States despite the economic difficulties facing citizens.

Oshiomhole made the remarks on Thursday during an interview on Channels Television’s Politics Today, where he dismissed opposition claims that Tinubu’s policies had made Nigerians poorer.

The former Edo State governor argued that while Nigerians were struggling with rising living costs, the purchasing power of small amounts of money in the country remained different from what was obtainable in the United States.

According to him, N2,000 could still purchase a meal at a local Nigerian restaurant popularly known as mama put, whereas one dollar would hardly buy anything 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 senator maintained that the economic reforms introduced by Tinubu, particularly the removal of the petrol subsidy and the unification of the foreign exchange market, were difficult but necessary decisions aimed at preventing the economy from collapsing.

He argued that before Tinubu assumed office, a significant portion of the country’s revenue was being spent on petrol subsidy payments and debt servicing, leaving limited resources for critical development projects.

Oshiomhole said the President’s decision to remove the subsidy on his first day in office was intended to free up funds for investment in infrastructure, education, healthcare and the student loan scheme.

He urged Nigerians to remain patient with the administration, expressing confidence that the benefits of the reforms would become more evident over time.

His comments come amid continued public debate over the impact of the Tinubu administration’s economic policies on household incomes, food prices and the general cost of living.