Tofe Fasua, a Special Adviser to President Bola Tinubu, has assured Nigerians that current inflationary pressures will drop like a rock.
Naija News reports that this comes when Nigeria is facing its highest inflation rate in 28 years, with the annual inflation rate soaring to 33.2% in March 2024.
The price surge has been attributed to a sharp fall in the Naira and the removal of fuel subsidy, which led to about a 40% increase in food inflation.
In an interview with Daily Trust, Fasua assured that Nigerians will soon begin to experience the positive impact of President Tinubu’s policies.
According to Fausa, compared to events in other parts of the world, Nigerians needed to be more patient as things gradually stabilised.
He said, “Unfortunately, we are now totally exposed. We have seen what’s happening on the other side of the world. We are not eager to wait for our country to get to that point. We are ready to say ‘You know what? Let’s bring it all down even before it gets an opportunity.’
“I can also assure you that in a very short period of time, we are going to see the positive impact. When inflation begins to drop in Nigeria, it’s going to drop like a rock; I predict.
“You can see it all around us now, all the prices are going down. Now what is inflation? Inflation is the marginal increase in prices. We will come to a point where you will find it difficult to see any marginal increase in prices.”
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