Experts Differ as Presidency Projects Single-Digit Inflation

By Diafa Doubra,

The Presidency has expressed optimism that Nigeria’s inflation rate will soon drop to single digits, but economic experts have cast doubts over the projection, citing current realities.

According to the government, ongoing reforms in the fiscal and monetary sectors are beginning to yield results, with expectations that prices of goods and services will stabilize in the coming months. Officials argue that measures such as food security interventions, fuel subsidy removal adjustments, and tighter monetary policies will drive inflation down significantly.

However, some economists disagree, warning that without tangible improvements in local production, energy supply, and exchange rate stability, inflationary pressures may persist. They noted that the cost of living remains high, with food inflation particularly weighing on households.

While the Presidency insists its reforms are on track, experts are urging the government to match optimism with practical strategies that directly address economic challenges faced by Nigerians.