Sele Media Africa
www.selemedia.org
Reported by Amos Dachung – Sele Media Africa Reporter
September 17, 2025
Experts Disagree as Presidency Says Inflation’ll Drop to Single Digit
The Nigerian Presidency has reassured citizens that inflation is on track to fall into single digits, citing recent economic improvements. However, economists and political critics believe this prediction may be premature and more political optimism than grounded fact.
Presidency’s Position
• Tope Fasua, Special Adviser to the President on Economic Matters, stated on Channels Television that inflation, which dropped from 21.88% in July 2025 to 20.12% in August, is steadily declining and could reach single digits in the near future.[1]
• Fasua cited stabilizing food prices, a stronger naira, and rising crude oil prices as factors driving this projected decline.[2]
• The Presidency’s optimism follows a rebasing of the Consumer Price Index (CPI), which the National Bureau of Statistics (NBS) recently updated.[3]
Experts & Critics Push Back
• The Peoples Democratic Party (PDP) described the claim as a “false promise” meant to win political favor, arguing that substantial structural issues like unemployment, power supply, and foreign exchange volatility must be addressed before such a drop is realistic.[4]
• Dr. Paul Alaje of SPM Professionals cautioned that the drop in inflation figures largely reflects changes in the CPI base year (rebasing), not an actual easing of prices felt by ordinary Nigerians. He warned that essential goods and services remain expensive.[5]
• Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), echoed similar sentiments: while statistical inflation rates have dropped, the rate of increase (how fast prices are going up) is not the same as prices going down. For many households, the cost of living hasn’t eased.[6]
Key Data Points
| Indicator | Value / Change |
|---|---|
| Inflation (Aug 2025) | 20.12% [1] |
| Inflation (Jul 2025) | 21.88% [1] |
| Year‑on‑year drop since August 2024 | From ~32% to ~20% [3] |
Analysis & Outlook
• The rebasing of CPI (changing the base year used for inflation calculations) has made the inflation numbers look somewhat better, but many Nigerians say prices are still very high — especially for food, transport, and energy.[6]
• Experts argue that reaching single-digit inflation will require:
- Sustained stability in the foreign exchange market
- Better power/electricity supply
- Increased agricultural production to reduce food inflation
- Improved infrastructure and policy consistency[4]
Conclusion
While the Presidency’s claims are backed by recent statistical trends, significant doubts remain. Many believe that unless deep structural challenges are addressed, the drop to single-digit inflation will remain an aspiration rather than an imminent reality.
For more in-depth reports on economics, policy, and how inflation affects everyday Nigerians, visit www.selemedia.org.
Citations:
1. The Telegraph Nigeria: telegraph.ng/news/2025/09/16/presidency-projects-single-digit-inflation-amid-economic-recovery/?utm_source=chatgpt.com
2. Vanguard News: www.vanguardngr.com/2025/09/inflation-will-drop-to-single-digit-in-nigeria-presidency/?utm_source=chatgpt.com
3. The Guardian Nigeria: guardian.ng/news/presidency-projects-single-digit-inflation-as-nbs-reports-decline/?utm_source=chatgpt.com
4. Vanguard News: www.vanguardngr.com/2025/09/fgs-inflation-promise-fake-pdp/?utm_source=chatgpt.com
5. TheTimes.com.ng: www.thetimes.com.ng/2025/02/new-inflation-rate-may-boost-investor-confidence-but-wont-ease-cost-of-living-in-nigeria-expert/?utm_source=chatgpt.com
6. KSBC Journal: ksbcjournal.com/2025/02/19/drastic-reduction-in-inflation-figures-not-equal-to-lower-prices-in-nigeria-expert-warns/?utm_source=chatgpt.com
About The Author
Discover more from Sele Media Africa
Subscribe to get the latest posts sent to your email.
