Tope Fasua, the Special Adviser on Economic Affairs, defends his statement about the naira's value, clarifying that N1,500 can still afford meals in certain parts of Nigeria. Despite acknowledging poverty, Fasua emphasizes that many Nigerians can manage daily expenses, urging action against economic inequality.
Tope Fasua, Special Adviser on Economic Affairs, has clarified his recent remarks about Nigeria's currency, defending the naira’s value amid concerns over economic hardship. Speaking after his weekend interview, Fasua emphasized that despite the naira’s apparent weakness against the dollar, N1,500 can still afford meals in various parts of the country.
He acknowledged Nigeria's struggles, particularly for those earning the minimum wage, but pointed out that even in urban centers like Lagos, a meal could be obtained for as low as N2,500. He shared his experience of visiting an eatery in Lekki, where food was priced reasonably, highlighting that many Nigerians can still afford necessities despite widespread poverty.
While stressing that his comments were not intended to mock the hardships many face, Fasua urged both public and private sectors to take active measures to combat growing economic inequality. He called on leaders to address the imbalance that leaves a large portion of the population struggling to meet basic needs.
Fasua’s remarks come amid increasing concerns about the depreciation of the naira, rising poverty levels, and the economic challenges facing Nigerians. His call for action underlines the importance of tackling systemic issues to ensure a more equitable economic environment.
