Gladness Gideon
President Bola Tinubu’s Special Adviser on Economic Affairs, Dr. Tope Fasua, has offered clarifications following widespread public reaction to his recent comments concerning the value of the naira and poverty in Nigeria.
Speaking during an interview on Arise Television on Tuesday, Fasua stated that his earlier remarks were misrepresented and misunderstood. He reiterated that while poverty undeniably exists across the country, he maintained that, in some regions, as little as N1,500—approximately one US dollar—could still purchase a meal.
“As against those that have been misquoting and sensationalizing, nobody is saying that there’s no poverty in Nigeria,” Fasua said. “In fact, luckily for me, I got people sending videos from Lagos to Maiduguri, showing that they actually ate for 1,500 yesterday.”
He further explained that his intention was not to downplay economic hardship but to highlight the harsh realities faced by many Nigerians. “If you’re earning minimum wage and you’re struggling in life, you have to make choices like that,” he said, emphasizing that his point was rooted in practical observation rather than insensitivity.
Offering a personal example, Fasua recounted a recent visit to a restaurant in Lekki, Lagos, where he observed that N2,500 could still buy a decent meal. “I was somewhere in Lekki yesterday, precisely Black Bell. I saw that someone could eat for N2,500… even in Lekki Phase 1,” he stated, describing the experience as eye-opening.
Responding to criticisms that his comments were dismissive of those living in poverty, Fasua said his words were meant to reflect the depth of economic inequality in the country—not to ridicule the poor. “Saying N1,500 is a lot of money is not a mockery of those who see that as a lot. I’m saying that a lot of Nigerians are in that category,” he clarified.
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He added that even a small amount, such as N1,000, can still provide relief to many Nigerians. “If you are leaving this place now and you gave the security guy 1,000, he will appreciate you. He will have a meal on that,” he said.
Fasua used the opportunity to call for urgent reforms, both in government and the private sector, to address growing income disparity. He also highlighted the lingering economic impact of the COVID-19 pandemic, warning that full recovery may take decades.
“When something as cataclysmic as COVID happens, sometimes it takes 10, 20 years for you to come back to. We can’t rest on our oars,” he cautioned, before making a passing remark about the broader global context, saying, “We’re hoping that President Trump’s experimental governance this time around will not set us back even further.”
Fasua’s comments underscore the complexities of Nigeria’s economic realities, reflecting both the persistent hardship faced by many citizens and the urgent need for responsive policymaking.