The presidency says inflation will soon hit single digits as food prices stabilize and the naira strengthens.
The Special Adviser to the President on Economic Matters, Dr. Tope Fasua, has assured Nigerians that inflation will soon drop to a single digit, a development he said would make life easier for citizens.
Speaking on Channels Television’s The Morning Brief on Tuesday, Fasua noted that food prices are already becoming more stable, attributing the decline to recent economic measures.
His remarks followed a National Bureau of Statistics report showing headline inflation fell to 20.12% in August from 21.88% in July, with year-on-year inflation down 12.03% compared to August 2024.
Reacting to former Vice President Atiku Abubakar’s claim that Nigerians are “dying from hunger daily,” Fasua dismissed it as “merely a political statement.” He added, “Inflation does not increase forever, not in any country… Nigeria’s inflation will get to a single digit as well; it’s a matter of time.”
He highlighted recent naira gains and stable food supplies as further signs of economic improvement.