The Special Adviser to the President on Economic Matters, Tope Fasua, has expressed optimism that Nigeria’s inflation rate will soon drop to a single digit, easing the burden on citizens.
Fasua gave the assurance on Tuesday during an appearance on Channels Television’s The Morning Brief, where he noted that food prices were already showing signs of stability.
His comments follow the latest report from the National Bureau of Statistics (NBS), which showed headline inflation at 20.12% in August 2025, down from 21.88% in July. On a yearly basis, the August figure was 12.03% lower than the 32.15% recorded in August 2024.
“A 20.12 inflation is still high, but what it says is that prices are increasing at a slower pace. It is rebasing, and our concern should be that our data is more timely and accurate,” Fasua said.
Reacting to criticism from former Vice President Atiku Abubakar, who said Nigerians were “dying from hunger daily,” Fasua dismissed the claim as political. “He doesn’t have to commend the current government, but the rest of us just need to stick with the black and white,” he added.
Fasua cited global examples, including Ghana and Pakistan, to argue that inflation does not rise indefinitely. “Nigeria’s inflation will certainly get to a single digit. It’s a matter of time,” he stressed.
He also pointed to other positive economic indicators, including a stronger naira and improved oil prices. “Yesterday, the naira traded at N1,497 to the dollar, entering the N1,400 region for the first time in eight months,” he said.
On food stability, Fasua noted improvements in agriculture, adding: “For the first time in 26 years, we did not see the usual surge in tomato prices. Farmers even say the government’s efforts are keeping prices down, which benefits consumers.”
