Peter Obi, the Labour Party (LP) presidential candidate in the 2023 general election has emphasised the necessity of reversing the nation’s negative trend in order to reconstruct a workable society.
Obi who made this remark in a statement issued on his verified X claimed that in order to create a functional society where people’s abilities, sacrifices, and efforts are matched with their possibilities in life, the current criminal justice system must be destroyed.
Obi made this statement in the context of his Wednesday encounter in Nsukka, Enugu State, with an old friend and fellow University of Nigeria student.
The former presidential candidate bemoaned the situation of his friend, a university professor, who thought that he had squandered all of his years lecturing, and regarded the meeting as meaningful and poignant.
“While in Nsukka, I met one of those brilliant fellows I knew while I was a student at the University of Nigeria, Nsukka, in the 80s.
“The fellow graduated with a first class and became a lecturer in the institution. When I later visited the University as the then Governor of Anambra State, he proudly announced to me that he was already a professor and I rejoiced with him.
“I met him again in Nsukka on Wednesday, but our exchange of pleasantries resulted in very pathetic tales about his general welfare. I noticed in his look and mien that all his happiness of being a professor had vanished.
“He began his story by telling me that he felt like he wasted all his years lecturing. He dragged his pitiful story into his current remuneration as a professor. According to him, his salary as of January 31, 2010, which is 14 years ago, remains the same to date, having reached the pinnacle of his career. The only significant difference is that while the money was worth something in 2010, today the same amount is worth nothing.
“The Professor recalled how he was able to buy a Toyota Corolla from his savings, something that is not possible again today. I asked for his salary today, he said about N400,000.
He broke my heart when he requested that I put in words for him so that Hon Dennis Agbo can appoint him as Special Adviser when he wins.
“The reason for the bizarre request that shocked me was that he would earn more and receive more perks as an SA than as a Professor. Touched by this and applying my finance background I decided to do some comparative analysis.”
“By January 31, 2010, the salary of a Nigerian University Professor was about N400,000. With the then prevalent exchange rate of N150.10 per dollar, the salary amounted to about $2665.
“Fourteen years later, on January 31, 2024, the salary of a University Professor remains about N400,000. With the prevailing exchange rate of N1,510 per dollar, the same salary now amounts to about $265.
“So after putting in 14 years of hard work, having attained the zenith of his academic career, a Nigerian University Professor now earns 10% of what he earned 14 years ago this is only possible in Nigeria.”