Tope Fasua, the Special Adviser to President Bola Tinubu on Economic Matters, in a recent statement that has sparked both interest and controversy, claimed that while $10 can barely cover the cost of lunch in the United States, just $1 is enough to buy a decent meal in Nigeria.
Fasua made the comparison while addressing issues around Nigeria’s economic realities and the purchasing power of its currency. His comment was meant to highlight the relative affordability of goods and services in Nigeria despite economic challenges, emphasizing that the country still offers low-cost of living, compared to many developed nations.
However, his statement has drawn mixed reactions. Critics argue that comparing economies without considering income levels and inflation may misrepresent the lived experiences of average Nigerians, especially as food prices have surged in recent years. Supporters, on the other hand, see it as a reminder of the country’s underlying economic potential and resilience.
Whether viewed as a motivational insight or an oversimplification, Fasua’s remarks have reignited conversations around cost of living, currency valuation, and the global perception of affordability in developing economies.
Dr. Tope Fasua, in his interview earlier, spoke about how $1 can buy what $10 cannot buy in the U.S. in Nigeria. But is that really the benchmark we want to set? To some, this might seem like an achievement, but it also reflects a deeper issue. While basic things like meals may… pic.twitter.com/Tby5PEQCPI
— iNaijaNow (@iNaijaNow) April 6, 2025
“1500 naira (one sardine money) a day is a lot of money for people in Nigeria” - Tope Fasua
— UptownOfLagos (@Uptownoflagos) April 6, 2025
Wait, you guys said this man is an economic adviser to President Tinubu? pic.twitter.com/l12trBPaZY
#CostOfLiving
#NigeriaEconomy
#TopeFasua
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