He disclosed this in a briefing with journalists after meeting with President Bola Ahmed Tinubu at the presidential villa on Wednesday.
He commended the reforms under the president, stressing that businesses no longer rely on the Central Bank of Nigeria for foreign exchange, suggesting FX stability.
On the aspect of food and commodity prices, he stated that prices have significantly moderated in 2025 compared to last year.
“I expect that the rate should come down to maybe N1,300 or N1,400 before the end of the year. And this is something that we should all celebrate,” he said.
“If you look at the prices of food items last year and what we have today, you’ll see that there is a significant reduction in all commodities and prices of food items,” he said.
The National Bureau of Statistics inflation data for August 2025 showed that headline and food inflation dropped to 21.12 per cent and 21.87 per cent, respectively.
On Wednesday, the Naira strengthened to N1,490 per dollar at the black market, while the official market stood at N1,488.56.
Dailypost.
We keep hoping and working to have a greater nation where the young and old dream and prayer point will not be to japa
ReplyDeleteHopefully amen 🙏
ReplyDelete🤣🤣🤣 When a capitalist is making economical projections like we have finally reach El dorado....I take it with a pinch of salt....Take it back to $1 = 350 naira first....Let it reflect on people's real life experiences....
ReplyDeleteGirl!!!!!
DeleteGirl !!!!
Im hollering !!
DeleteThe official rate was N450/$1 only to the economic illiterate, what was the black-market rate? How many people were getting it at that rate?.
DeleteGovernment was spending $1.5billion monthly to sustain that fake rate under Buhari and Emefiele, which is what allowed all the FX theft that happened., Nobody is subsidizing forex or petrol now, our economy might not be perfect or there yet but if you are honest you certainly cannot compare where we are now to where we were at June 2023.
Which economy that was in the state our economy was could achieve true and complete turnaround in 2 years, any candidate can lie that he can do it but na lamba.
It can only be gradual
Compare the cost of living and the standard living now to what it was in the past 5 years. Keep defending!
DeleteThe only way for you to escape poverty is capitalism. It is what has given you this blog, your phone, wherever you live and it is what feeds those helping you financially. It is a godly system responsible for the greatest growth, equality, longevity freedom, human rights.
DeleteIf you have any other financial system that has ever been better in results and advancement than capitalism, list it.
Don't waste time with Scandinavian countries after a quick Google search. It is easier to do business there than most blue states in the USA. Some Countries in Europe reduce your percentage of income taxes as your income rises to keep you motivated and investing locally and they have better tax compliance as a result: bigger earnings, more PAYE enrolments, more VAT etc their utilities are privatize and a sovereign wealth fund can only work when people pay tangible taxes and it is sensibly invested over decades, , not when the monies collected are again wasted in subsidizing fuel, Ankara, guinea brocades, velvet, biscuits etc, taking away jobs you can be trained to do and passing on debt of 1.5 billion dollars monthly into your grandchildren.
Take your eyes off others' money and make your own. If he had echoed your defeatist mentality, you would have retweeted and quoted him spuriously. Now that he has subtly adjudged the recipients of palliatives, subsidies, welfare and all sorts of benefits for decades as unprofitable investments, "see-fear pains" entered the chat.
Nigeria paid for most of your education but to even utilise the certificate it bought with your name on it, PROBLEM!
14:18, you are absolutely right. This is the problem with chronic welfarism: a beneficiary class that is unproductive, entitled, ungrateful and lacking in vision.
DeleteLook at them actually complaining that they can no longer pass on the cost of their consumerism and predation on their own generations yet unborn.
Even with the increase in minimum wage, regulation in prices and drop/crash of cost for some food items, they are biologically unable to see anything good. I wonder if middlemen made a single cent from beans this year.
The long epistle commenter is here....your postulations are so wrong that capitalism is the solution to escape poverty is like saying swimming in a river is the solutions from getting drowned....A country like Nigeria needs socialism when you barely have nasic social amenities...So save me from all these defense you are putting up...Which country is doing well premised on capitalism only....Reason why economists can't define what we are doing...We claim to be a mixed economy while riding heavy on capitalism...
DeleteSo there eat your heart out..
I hope so. It should happen with evidence too.
ReplyDeleteI pray so 🙏
ReplyDeleteHopefully.....It will be so by God's grace.
ReplyDeleteWe are hopeful
ReplyDeleteMy God, you commenters should go and hide your faces. Hailing 1300-1400 naira to a dollar is sickening and pathetic. Why can't they work towards 50 naira to a dollar. May illiteracy and ignorance not kill Nigerians.
ReplyDeleteGovernment's own is to do the math(seen), continue these reforms to enable actual and serious producers (ongoing with good prospects in 2 years, not those just using non essential containers to destroy jobs and opportunities) then pump oil. They have been beating the OPEC quota since Bulaba's getting into office by about 10% and thus, beating budget demands by Q3, repaying loans used to sustain you and making the country more attractive for zero or low interest loans for specific projects instead of running costs.
DeleteWhat are you producing with your life? China actually rigs the exchange rate to weaken it's currency in order to make it's exports competitive. Go and produce- it's not just an anthem for those importing salad condiments and ketchup. It's actually hard work which you are not ready to do, as most citizens have been spoonfed by government all their lives.
The only reason this would bother you is because you no longer have cheap dollars to import the goods that wrecked the economy to this stage. People exporting goods and services or solving problems at home are smiling. Farmers are cashing out and many more are becoming loan worthy. Real estate has surpassed oil and gas as a revenue source. Even in healthcare, more and more luxury specialties are emerging in commercial centre but you want "hand to mouth", "container economy" and "ebi n pa yin" to take us back to the same death spiral of the last 50 years.
If government should go all the way and remove the subsidy on electricity so that as NEPA was buried for MTN, Glo and others to become billion dollar businesses, we may also have serious investors and serious users and transparency in the system, what would you then say? The same people who were screaming subsidy removal as an agenda without even googling what it means. . This is how you were insulting Obasanjo for privatisation drive and removing subsidies on kerosene and diesel, even devolving NITEL and mushroom banks at the time. Because he now backs Obi to remain relevant knowing that by the indices he gave Ali Baba to publish, the guy could never have won the 2923 polls, you praise his tenure and abuse those who are taking those reforms further. Everyone wants development, it's the wise that know it has to be paid for and in every system, those with least means pay most as they would also be the biggest beneficiaries in terms of bulk costs.
Side eyes
ReplyDelete