The Special Adviser to President Bola Tinubu on Economic Affairs, Tope Fasua has urged Nigerians to adjust their spending patterns to match their income, insisting that households must \u201ccut their coat according to their size\u201d amid rising economic pressure.\n<\/p>\n
Fasua made the comment while responding to questions at a members-only Coffee Hangout organised by Kay Hikers Club in Abuja.\n<\/p>\n
A video of the exchange, posted on the group\u2019s official Instagram handle on Thursday, showed a heated discussion between Fasua and a female attendee who criticised the worsening cost of living, insecurity, and declining purchasing power.\n<\/p>\n
The woman had questioned the affordability of basic needs, arguing that food items had become out of reach for many Nigerians.<\/p>\n
\u201cAre you aware that you can no longer buy tomato \u20a6500 from the market as you used to 10, 15 years ago? Are you also aware that the basic thing, as basic as food is now something you have to beg for?\u201d she asked.\n<\/p>\n
She also raised concerns about safety and rising street crime, linking it to economic hardship and poor wages for low-income workers.\n<\/p>\n
Fasua, however, pushed back on some of the concerns, arguing that the situation in Nigeria was not as severe as portrayed and that citizens should manage resources more carefully.<\/p>\n
He insisted that Nigerians should avoid exaggerating the country\u2019s challenges.\n<\/p>\n
On the cost of living, Fasua acknowledged that prices had risen but maintained that households could still manage their resources effectively.\n<\/p>\n
\u201cA modest family will feed for several days with \u20a610,000,\u201d he said. <\/p>\n
He then urged Nigerians to adopt more disciplined spending habits.\n<\/p>\n
\u201cYou will know how to cut your coat according to your cloth. You can go to the market, I go to the market too. I have customers in Utako market, in Wuse market. I like shopping. I like going to the market. I test things. You can buy foodstuff which you cook at home,\u201d he added.\n<\/p>\n
Fasua also argued that government could not meet every expectation and that citizens needed to adjust to economic realities.\n<\/p>\n
\u201cI know things are expensive, more expensive than they were before. But if we want sensation, government will never win,\u201d he said.<\/p>\n
He further dismissed dollar-based comparisons of living standards, saying local realities should be the benchmark.\n<\/p>\n
\u201cWe are not in the US. Everybody has to deal with his own currency. That\u2019s what is called purchasing power parity. $10 will go so far in this country but in the US you can do very little with it.\u201d\n<\/p>\n
Another attendee at the event challenged Fasua\u2019s framing, accusing him of oversimplifying structural issues.\n<\/p>\n
\u201cI feel like you are now beginning to spiritualise the issues in Nigeria when you say mindset, because it\u2019s not actually supposed to be a mindset, it\u2019s a reality,\u201d the attendee said.\n<\/p>\n
Fasua responded that policy realities, not mindset alone, shaped outcomes, while maintaining that individuals still had room to adjust their survival strategies.\n<\/p>\n
He added that citizens could still improve their personal economic resilience despite broader national challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"The Special Adviser to President Bola Tinubu on Economic Affairs, Tope Fasua has urged Nigerians to adjust their…\n","protected":false},"author":2,"featured_media":141636,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[26272,81164,84,3363,28536,145366,1294,7012,196384,146133,91157,23170,196385,56,54,55],"class_list":["post-574409","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-abuja","tag-bola-tinubu","tag-business","tag-cost-of-living","tag-economic-affairs","tag-economic-hardship","tag-economy","tag-government-policy","tag-inflation-nigeria","tag-nigerian-economy","tag-purchasing-power","tag-spending-habits","tag-tope-fasua","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/574409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=574409"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/574409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/141636"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=574409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=574409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=574409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}