Experts Question Presidency’s Claim That Nigeria’s Inflation Will Drop to Single Digit Amid Economic Hardships
The Presidency has assured Nigerians that the nation’s inflation rate is on track to fall into single digits, a development it says will improve living standards and ease pressure on household budgets. Special Adviser to the President on Economic Matters, Tope Fasua, made the statement on Channels Television’s The Morning Brief, citing National Bureau of Statistics (NBS) data showing headline inflation eased to 20.12 percent in August 2025 from 21.88 percent in July. Fasua added that food prices are already showing signs of moderation, crediting rebased statistics for giving “a true picture” of the economy.
Opposition voices immediately rejected the government’s optimism. The Peoples Democratic Party (PDP) dismissed the single-digit inflation pledge as “false and misleading,” alleging it was timed to influence upcoming elections. PDP Deputy National Youth Leader Timothy Osadolor argued that without steady power supply, job creation, and exchange-rate stability, no administration could sustainably cut inflation. He criticised Nigeria’s electricity output, noting the grid has struggled to reach even 5,000 megawatts compared to industrial nations producing up to 50,000 MW.
Several economists and policy analysts also questioned the feasibility of reaching single-digit inflation soon. Eze Onyekpere, Executive Director of the Centre for Social Justice, warned that such a target is “unrealistic unless figures are manipulated,” pointing to past controversies over unemployment data. Professor Ndubisi Nwokoma of the University of Lagos said the claim ignores underlying drivers such as supply chain disruptions, cost-push factors and monetary instability, while Dr Muda Yusuf of the Centre for the Promotion of Private Enterprise described the aspiration as “a tall order.”
While some experts doubted the target, others stressed the importance of policy execution. Chief Daniel Okafor, President of the Potato Farmers Association of Nigeria, maintained that with rigorous implementation of existing policies, inflation could be tamed. He lamented, however, that “implementation remains the key to success” in Nigeria. Analyst David Adonri of Highcap Securities added that the word “soon” is subjective and warned that insecurity in rural areas and rising input costs continue to fuel inflationary pressures.
Beyond the statistics, ordinary Nigerians continue to feel the pain of soaring prices. Ifeoluwa, a sole survivor of an accident, saving up for a prosthetic leg, told reporters her savings are shrinking daily due to inflation. Her story underscores the wider hardship facing households as food, transportation, and medical costs rise faster than incomes. Analysts say without concrete improvements in production, energy supply, and security, government assurances risk sounding like empty promises to citizens struggling with real-life consequences.
source: vanguard