Outrage as Tinubu’s Aide Insists $1 Can Buy a Meal in Nigeria, Unlike in US

• Dr. Tope Fasua, special adviser on economic affairs to President Bola Tinubu, has gotten many talking in the polity as he spoke about the strength of 'a dollar' in Nigeria
• During a chat with Seun Okinbaloye, host of the Mic On Podcast, Tinubu's aide defended the purchasing power of the naira despite its exchange rate exceeding N1,500 to $1
• Fasua explained that in the Nigerian context, even small amounts of foreign currency translate to substantial value, stating that meals can still be purchased for as low as N1,500

Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements

Dr Tope Fasua, the special adviser on economic affairs to President Bola Ahmed Tinubu, has defended the value of the naira locally despite its weakness against the dollar.

He noted that $1, equivalent to over N1,500, can still buy a meal in Nigeria.

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Fasua spoke when he appeared as a guest on the Mic On Podcast hosted by Seun Okinbaloye on Saturday, April 5.

The presidential aide also clarified misconceptions about “multi-dimensional poverty,” explaining that it includes access to services like education and healthcare, not just income or food scarcity.

Speaking further, he argued that while the naira may appear weak when compared to the dollar, its purchasing power remains strong in local contexts.

“$1 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,” Fasua stated.

Fasua, offering examples from everyday life, added:

“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.”

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Nigerians criticise Tinubu's aide over dollar statement

Legit.ng compiled a few reactions from the comment section on YouTube below:

@sindialbert7628 said:

"Who told you 10$ can’t buy lunch ?Na Wao for our former contestant. make we dey speak truth to power o."

@magnusizedomwen8973 stated:

"Tope Fasua was the most critic of Jonathan Goodluck."

@thegeniuschannel3468 wrote:

"Opposition obviously isn't the voice of the people but we need opposition. Tinubu must not kill opposition."

@DanielIdoko-xp7zk said:

"Dr Fasua talk about more money going to the state governments but it's not reflecting in the standard of life of the people."

Watch Fasua's full interview below:

Naira experiences biggest fall in 2025

Legit.ng earlier reported that the Nigerian naira hit its lowest in 30 days on Thursday, April 3, 2025, in the official Nigerian Foreign Exchange Market (NFEM).

CBN data shows that the naira depreciated to N1,569 per dollar from N1,534 the previous day.

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The depreciation is the lowest the local currency has gone in over 30 days as analysts fear it might fall off the N1,500 ceiling against the dollar.

Proofreading by Nkem Ikeke, copy editor at Legit.ng.

Source: Legit.ng