$1 is N1,500. Earning $1 per day, that is a lot of money for many Nigerians,”- Tinubu’s Aide

• He pointed out that although $1 is now more than N1,500, it can still afford a meal in Nigeria.

Dr. Tope Fasua, the Special Adviser on Economic Affairs to President Bola Ahmed Tinubu, has advocated for the naira’s worth within Nigeria, despite its depreciation against the dollar.

He noted that even with $1 being over N1,500, it remains sufficient to purchase a meal in the country.

This statement was made during a recent episode of the Mic On Podcast.

“$1 is N1,500. Earning $1 per day, that is a lot of money for many Nigerians,” Fasua declared confidently as he attempted to downplay growing concerns over the country’s worsening economic crisis under President Tinubu’s leadership.

He continued: “That takes us to purchasing power parity, and that is what we should look at. $10 won’t buy you lunch anywhere in the US. You need at least $20. That is about N30,000. But I can tell you what you can do with $5, that is N7,500 in Nigeria.”

“If you are not going to eat at eateries or high-brow places, there is a lot it can do,” he claimed.

“In Gwarinpa, there are people that sell, just like in Port Harcourt, Boli (roasted plantain) and fish on the roadside. You will eat for N1,500, if you know where you are coming from.”

He then turned to global comparisons, apparently attempting to justify Nigeria’s poverty level.

“There is nowhere in the world where people don’t suffer. There is no economy that you will not find people that are suffering,” he said.

Fasua went further to suggest that Nigeria’s social structure makes poverty more bearable.

“In fact, in Nigeria, because of what we call social capital… Here is a place where you could go and stay with your brother or your sister, get something to eat and so on. You could even stay with them for a few months,” he said.

“Abroad, when you are down on a house, you miss your rent, and you don’t have a job, and they kick you out.”

“We are not going to take every statistic like the one that says Nigerians must earn $2 per day and that is when to determine who is poor,” Fasua said.

“In villages of Nigeria, you don’t even need one dollar to survive a day when you have your farm, and you can actually eat something, and you are okay.”