Nigeria’s inflation rate is expected to fall to a single digit, according to Tope Fasua, the Special Adviser to the Presidency on Economic Matters. Speaking on Channels Television’s “The Morning Brief” on Tuesday, Fasua highlighted the recent drop in inflation as a positive trend. The National Bureau of Statistics (NBS) reported that the inflation rate eased to 20.12 % in August 2025, down from 21.88 % in July 2025, and that food prices are beginning to stabilize.
Fasua attributed the decline to a stabilising exchange rate and higher crude‑oil prices, noting that the naira has appreciated to around N1,400—a significant improvement. The NBS also recorded a month‑on‑month headline inflation rate of 0.74 % for August 2025, with food inflation at 1.65 % on a monthly basis. On a year‑on‑year basis, the headline rate was 12.03 % lower than in August 2024, and overall inflation fell by 1.76 % compared with July 2025.
His comments followed former Vice President Atiku Abubakar’s claim that Nigerians are dying from hunger daily. Fasua dismissed the statement as a political remark, urging focus on facts and data. He pointed out that the recent rebasing of the inflation rate, carried out several months ago, provides a more accurate picture of the economy.
Fasua emphasized that inflation does not rise indefinitely, citing examples such as Ghana and Pakistan where inflation has declined over time. He expects the falling inflation rate to translate into better living conditions for Nigerians. The government, he said, is working to stabilise the economy, improve citizens’ lives, and that the naira’s appreciation and higher crude‑oil prices are positive indicators of economic growth. As inflation continues to decline, Nigerians can anticipate improvements in their standard of living.
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