The Presidency has assured Nigerians that inflation will soon drop to a single digit, raising hopes of economic relief for citizens struggling with rising costs of living.
Speaking on Channels Television’s The Morning Brief on Tuesday, the Special Adviser to the President on Economic Affairs, Tope Fasua, said recent data from the National Bureau of Statistics showed inflation was already easing.
According to the NBS, headline inflation fell to 20.12% in August 2025 from 21.88% in July, marking a 1.76% decline.
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On a yearly basis, inflation was 12.03% lower than the 32.15% recorded in August 2024. Fasua noted that food prices are also stabilising, which he described as a positive sign for the economy.
He explained, “Nigeria’s inflation will certainly go to a single digit. It’s a matter of time. Inflation does not increase forever, not in any country.
“We have Ghana next to us, with inflation up to 40 per cent. Today, their inflation is trending down to a single digit. Nigeria’s inflation will get there as well.”
Responding to criticism by former Vice President Atiku Abubakar, who claimed Nigerians were “dying from hunger daily,” Fasua dismissed the remark as political.
“Former vice president, Atiku Abubakar, merely made a political statement which is expected at this time, because he’s trying to see how he can wangle himself back into the presidency,” he said.
Fasua added that the naira’s recent strengthening to the N1,400/$1 region, coupled with stable crude oil prices, were contributing factors to the downward trend.
He also pointed to agricultural improvements, noting, “Nigerians are enjoying the drop in food prices because they are much more stable this year.”
