1 month ago
25
Special Adviser to President Bola Tinubu connected Economic Affairs (Office of the Vice President), Tope Fasua, has defended the national government’s handling of the system and dismissed criticisms from erstwhile Vice President Atiku Abubakar pursuing the latest ostentation study by the National Bureau of Statistics (NBS).
He said Atiku’s involution was specified authorities arsenic ostentation complaint does not spell up for ever.
Speaking connected Channels Television’s meal show, ‘Morning Brief’, connected Tuesday, Fasua reacted to Atiku’s remarks that Nigerians were “dying of hunger contempt the rebasing” of the economy.
Atiku had argued that adjacent those inactive live were “finding it truly tough,” insisting that the government’s figures bash not bespeak the harsh realities citizens were facing.
But, Fasua countered by describing Atiku’s connection arsenic politically motivated.
“Former Vice President Atiku Abubakar has lone made a governmental statement, and that is expected successful this play due to the fact that helium is trying to spot however helium tin wangle his mode backmost to the presidency,” Fasua said.
“I don’t remark truthful overmuch connected governmental things, but it is what it is. He doesn’t person to commend the contiguous authorities for its achievement, but we request to instrumentality to the achromatic and white, to the empirical grounds connected ground.”
The statesmanlike adjutant explained that Nigeria’s header inflation, which slowed to 20.12 per cent successful August 2025, from 21.88 per cent successful July, remains precocious but represents progress.
“Twenty-point-twelve per cent ostentation is inactive ample successful galore quarters due to the fact that what it is saying is that prices are inactive increasing, but it’s not astatine the complaint they were expanding before. It’s conscionable a substance of rebasing, and the rebasing came successful six years aft it ought to person been done,” helium said.
Fasua stressed that the rebasing workout has fixed a truer reflection of the economy.
He said, “Our interest should beryllium that our statistic and information should beryllium overmuch much connected constituent and overmuch much frequent. The rebasing gave america a existent representation of wherever we were. So, for immoderate affectional reason, if idiosyncratic believes that we should beryllium astir 30 per cent ostentation oregon thereabout, past it’s their ain cupful of tea. The baseline should beryllium that a rebasing was done respective months back, and what we person seen since past is accordant driblet successful inflation.”
He further noted that inflationary pressures bash not proceed indefinitely, citing planetary examples to backmost his optimism.
“I archer anybody that cares to perceive that ostentation does not summation forever, not successful immoderate country. Look astatine Ghana adjacent to america present — Ghana had ostentation up to 40 per cent, 42 per cent, and contiguous that ostentation is trimming down to azygous digits. Nigeria’s ostentation volition spell down to azygous digits arsenic well; it’s conscionable a substance of time.”
Comparing Nigeria to different economies, Fasua pointed retired that the concern was not unique.
“Pakistan’s economy, which really mirrors Nigeria’s system a lot, got ostentation up to 40 per cent astir 2 years ago. Today, they are battling with deflation, which is adjacent a bigger contented due to the fact that there’s nary inducement for radical to nutrient much goods and propulsion themselves, truthful everything goes down south.”
Fasua insisted that “empirical evidence” proved that the government’s economical reforms were opening to work, and that successful time, Nigeria volition travel the planetary inclination of ostentation easing toward azygous digits.
English (US) ·