Naira still strong, you can get a meal for N2,500 in Lekki – Tinubu’s aide
Tope Fasua, special adviser on economic affairs in the office of the vice president, has addressed the concerns about the naira’s value and poverty in Nigeria, asserting that these issues are often misunderstood.
Fasua was clarifying an earlier statement made during a weekend interview, where he remarked that the naira might appear weak when compared to the dollar.
“A dollar is N1,500 – it’s a lot of money for many people in Nigeria. $10 won’t buy you lunch anywhere in the US, sometimes you need at least $20, that is N30,000 in Nigeria,” he explained.
He also pointed out how small amounts of money can still go a long way in some areas: “I will tell you what you can do with $5 – that is N7,500 – if you are not going to eat in some highbrow places.”
“In Gwarinpa, there are some people that sell Boli and fish and you will eat for N1,500. If you know where you are coming from,” he added.
However, during a separate interview on Arise TV on Tuesday, Fasua emphasized that he wasn’t minimizing the issue of hardship but wanted to highlight that N1,500 can still provide meals in certain parts of Nigeria.
“As against those that have been misquoting and sensationalizing, nobody is saying that there’s no poverty in Nigeria,” he 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 continued, “If you’re earning minimum wage and you’re struggling in life, you know, you have to make choices like that.”
Fasua also shared his experience visiting an eatery in Lekki, Lagos, where he discovered that meals were priced at N2,500.
“I was somewhere in Lekki yesterday, precisely Black Bell. I saw that someone could eat for N2,500 even in Lekki Phase 1,” he said.
“I mean, I didn’t know where to go. Someone just took me there because I had another interview.”
Acknowledging that not everyone could afford such meals, Fasua reiterated, “So, yes, people can’t afford that, I agree. But I think that empirically speaking, my statement was correct. I said something, I said N1,500 is a lot of money to a lot of Nigerians.”
He further clarified, “And that’s because I acknowledge the fact that a lot of people are down on their luck and poor. So, saying N1,500 is a lot of money is not a mockery of those who see that as a lot.”
Fasua continued, “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. I’m saying that a lot of Nigerians are in that category.”
Highlighting the nation’s economic disparities, Fasua urged both the private and public sectors to take action to address the increasing inequality in the country.
