ABUJA, NIGERIA — Amidst mounting economic pressure on Nigerian households, Dr. Tope Fasua, the Special Adviser to the President on Economic Affairs, has sparked a heated national debate by claiming that a “modest” family can still feed for several days with just ₦10,000.
Fasua made these remarks during a “Coffee Hangout” in Abuja, where he addressed concerns regarding the skyrocketing cost of staples and the overall cost of living.
The “Market Reality” Argument
During an exchange with participants who lamented the collapse of purchasing power, Fasua urged Nigerians to embrace more disciplined spending habits. He insisted that while prices have risen, prudent spending remains the key to navigating the current hardship.
“A modest family will feed for several days with ₦10,000,” Fasua said. He encouraged citizens to shop directly at local hubs like the Utako and Wuse markets to get better value for their money. “You will know how to cut your goat according to your cloth. You can go to the market, I go to the market too. I like shopping. I test things. You can buy foodstuff which you cook at home,” he added.
Rising Public Skepticism
The presidential aide’s comments were met with immediate backlash from critics who argue the figures do not align with current market realities. With the price of a single bag of local rice exceeding ₦100,000 and the cost of basic ingredients like onions, peppers, and protein doubling in the last quarter, many families find the ₦10,000 estimate “disconnected” from the average Nigerian’s struggle.
Economic analysts have noted that for a family of four or five, ₦10,000 often barely covers the cost of two decent meals when factoring in the current prices of cooking gas, palm oil, and grains.
Focus on Internal Discipline
Fasua’s defense of the local economy comes at a time when the administration is pushing for a shift in consumer behavior. He argued that Nigerians must adjust to “global realities” and prioritize home-cooked meals over more expensive alternatives.
While Fasua maintains that he is a regular at the markets and understands the price fluctuations, the “several days” claim has become a lightning rod for citizens who are currently spending up to 70% of their income on food alone.
The presidency has not issued a follow-up statement to clarify the specific breakdown of the ₦10,000 budget suggested by the adviser.
