Allen Onyema, Airpeace Chief Executive Officer (CEO), has stirred a debate on social media after stating that with a two hundred thousand Naira (N200,000) monthly salary, one can afford at least a maid, and driver.
He made this claim when he appeared on a program on TVC (a Nigerian local TV station) as a guest on Thursday, March 28, 2024.
Maintaining that anyone earning an N200,000 salary in Nigeria is better when compared to those earning two thousand pounds (£2,000), (which is equivalent to three million, founded and seventy-four thousand naira) in the UK, Allen Onyema said the former would live like a king in his home country.
According to Allen Onyema, those who earn £2,000 in the UK live like peppers while those who earn two hundred thousand Naira live like a king.
In the interview, he stated in agreement with the Governor of the Central Bank Of Nigeria, Yemi Cardoso in a claim that the Naira has more value than its been projected in dollars.
“What I am trying to say is, we should stop stigmatising our country, we must love our country, we must fight for it and must support private investments.”
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Is N200,000 Monthly Salary In Nigeria Greater Than £2,000 In The UK?
The UK has a national minimum wage with variations based on age. As of March 2024, someone over 25 earns around £9.50 ($10.50) per hour mum-wage-rates. In Nigeria, the national minimum wage is currently around ₦30,000 ($22) per month.
The minimum wage in both countries reflects their economic realities. Someone earning minimum wage in the UK might struggle to afford luxuries, but they can likely cover basic needs. In Nigeria, minimum wage earners might face challenges affording even basic necessities.
With the minimum wage in the UK as opposed to the minimum wage in Nigeria, the reality of Allen Onyema‘s statement looks vague.
His statement sparked a lot of reactions on social media and it seems Nigerians think the CEO of Air Peace has lost touch with the reality of today’s market and the impact of the economic crisis on average Nigerians.
Although, two hundred thousand Naira may appear substantial within the context of Nigeria’s economic landscape.
However, this value has been significantly diminished due to the relentless and rapid rise of inflation rates and the subsequent depreciation of the national currency, the naira.
As a result, what may have been considered a substantial sum previously has now been considerably reduced in its purchasing power and overall economic impact.
Below are some of the reactions of Nigerians to Allen Onyema‘s claim;
“On top of 200k, you will have a maid and a driver? Wealthy people are very disconnected from the realities on the ground.”
“Only a few will understand him, unfortunately. This is not for the person who hasn’t left Nigeria.”
“Then make your flight tickets 25k again I will believe you.”
Another said;
“You can employ a maid and driver but they most likely will kidnap your kids if it’s inside the 200k you’re paying them😭”
“Toyota Corolla 2006 is about 8m Naira.
How long will it take for someone earning minimum wage or even 200k to purchase a car?
Keep lying and deceiving your audience.
Japa if you have the funds o
Your children go drag you for the future if they don’t have dual citizenship.
Nigeria is not gonna get any better.
I pity you wey dey get hope for that nation😂”
While some inquired about the validity of the statement, others disagreed with the statement citing the difference in the standard of living in both countries.
During the interview, Allen Onyema spoke further on how government support for airlines should be improved. He said airlines need unconstrained access to dollars and the Nigerian government needs to do more.
“We need government support for Nigerian airlines. Everything about aviation is dollars. If you don’t have access to dollars, you cannot move forward. Remember, these airlines were competing with abroad, they access loans in their countries at 3 per cent. In Nigeria, I am getting my loan at 30 per cent,” he said.
“At the same time, the Nigerian airline is dead on arrival when it comes to insurance. They stigmatise my country because insurance is done abroad. So what we use in ensuring one aircraft is what those bigger airlines all over the world will use to ensure about eight aircraft.
“Another way of supporting the airlines is the removal of the city hopping we’re doing in this country. We’re putting a strain on the naira. President Tinubu knows that the multi-city hopping of foreign airlines into his country is creating problems for him.
