Tinubu’s Aide Predicts Dramatic Drop in Inflation Rate

Tofe Fasua, Special Adviser to President Bola Ahmed Tinubu (Office of the Vice President), has expressed optimism about the future of Nigeria’s inflation rate, predicting a significant decrease in the coming months.

This comes at a time when Nigeria is facing its highest inflation rate in 28 years, with the annual inflation rate reaching 33.2% in March 2024.

Fasua discussed the current economic situation in the country during an interview on Trust TV’s Daily Politics.

He attributed the surge in prices to a sharp fall in the local currency and the removal of fuel subsidy, which has led to a 40% increase in food inflation.

Despite these challenges, Fasua highlighted the federal government’s efforts to stabilize the economy and bring down the inflationary curve.

The Special Adviser acknowledged the global economic context and urged Nigerians to remain patient as the government works to address the situation.

He emphasized that the government is taking proactive measures to ensure the country does not face the same economic challenges as other parts of the world.

Fasua expressed confidence in the government’s approach, stating that inflation in Nigeria would soon “drop like a rock.”

He predicted that prices would stabilize and decrease, making it difficult to see any marginal increase in the near future.

As Nigeria grapples with its current economic challenges, the government’s commitment to implementing effective policies and measures to address inflation and stabilize the economy remains a priority.

The coming months will be crucial in determining the success of these efforts and the impact they will have on the lives of Nigerians.