The Special Adviser to the President on Economic Matters, Dr. Tope Fasua, has stated that Nigerians can expect inflation to fall to a single digit soon, which he believes will make life easier for the people.
Dr. Fasua gave this assurance when he featured a Television programme. He explained that food prices are already beginning to drop as inflation eases.
His statement came shortly after the National Bureau of Statistics reported that headline inflation fell to 20.12% in August 2025, down from 21.88% in July.
The statistics agency explained that while inflation remains, the pace of price increases is slowing compared to previous months.
Reacting to claims by former Vice President Atiku Abubakar that Nigerians were “dying from hunger daily,” Dr. Fasua said, “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, and I don’t comment on political things.
“He doesn’t have to commend the current government for the achievement, but the rest of us just need to stick with the black and white.”
Fasua admitted that 20.12% is still high but stressed that the figures now reflect a long overdue rebasing.
He stated, “A 20.12 inflation is still large in many quarters because what it says is that prices are still increasing in some quarters, but not as they used to be. It is rebasing. The rebasing came in about six years after it ought to have been done. Our concern should be that our statistics and data should be much more on point and frequent.
He added that inflation never rises forever and pointed to other countries as examples.
Punch/Toyosi Eniola
