…Demands jobs, power, stable Naira
By Luminous Jannamike
ABUJA – The Peoples Democratic Party (PDP) has dismissed the Federal Government’s claim that inflation will soon drop to a single digit, describing it as a false promise aimed at deceiving Nigerians ahead of the next general elections.
This reaction followed remarks by Tope Fasua, Special Adviser to the President on Economic Matters, who recently expressed optimism on Channels Television that Nigeria’s inflation rate would soon fall to a single digit.
Fasua cited a slight drop in headline inflation from 21.88% in July to 20.12% in August 2025, as reported by the National Bureau of Statistics (NBS), and pointed to factors such as a stronger naira, rising oil prices, and stable food costs as signs of improvement.
However, the PDP Deputy National Youth Leader, Timothy Osadolor, told Vanguard in Abuja on Tuesday that Fasua’s position was unrealistic and misleading, given Nigeria’s current economic realities.
He insisted there was no pathway to reducing inflation without addressing fundamental issues such as unreliable power supply, mass unemployment, and the volatile exchange rate.
According to Osadolor, the ruling All Progressives Congress (APC) administration has failed to create the basic conditions needed for growth and stability.
He argued that without steady power to run industries, jobs to reduce poverty, and a stable naira to boost investor confidence, any talk of single-digit inflation was nothing more than empty political propaganda.
“When senior figures and representatives of the government of President Obama and Netanyahu talk to us, I wonder if they went through a school where basic economics were taught and where understanding of mathematics and economic data analysis were discussed.
“When they make statements like this, to me, it is either to insult the sensibilities of Nigerians or to just tell Nigerians that this government has no intention to better their lives or make their lives comfortable in any way,” Osadolor said.
He said core indicators of economic strength under the APC government were weak and incapable of delivering growth.
“Common sense tells us that for an economy to grow, there must be production. Common sense tells us that for an economy to grow, there must be power to power the industries. Common sense tells us that for an economy to grow, for inflation rates to go down, there must be job creation. Common sense tells us that for an economy or a nation to grow, there must be job security and there must be net stability,” he explained.
Osadolor criticised the government’s performance on power generation, pointing out that Kainji Dam and other facilities have repeatedly collapsed, leaving Nigeria unable to consistently generate even 5,000 megawatts (MW).
He compared this to the minimum of 40,000 to 50,000 MW required for an industrialised nation like Nigeria.
“Kainji Dam is yet to reach 5,000 MW national capacity on the national grid. For an industrial nation, the minimum we should be talking about should be like 40,000 or 50,000 MW to put electricity in the 700s of the four local grids of Nigeria.
“Now, this government cannot even sustain the all-time high of 6,000 and 7,000 MW under Jonathan and even under Buhari. We learned that at 5,000 MW, this government has never peaked. So, where are the industries and where are the jobs that they have created that will bring down inflation rates?” he asked.
The PDP youth leader also said the naira’s instability remains a clear sign of economic mismanagement, pointing to its unpredictable movement in the black market.
“We have seen the dollar fluctuating between 1,005 to 1,600. Today, tomorrow, the dollar has gained on the black market. The dollar has increased. Naira has fallen. Naira has increased. There is no certainty as to what the price of the dollar-to-naira ratio will be at any given time,” he said.
Osadolor further accused the government of failing to create jobs while industries continue to shut down or relocate to neighbouring African countries.
“Power is not being created or generated. Our steel industry in Ajaokuta and across the country, there is nothing to write home about. So, what are the indicators? These statements they are making are from the confines of their offices and their bedrooms, where they feed and live on taxpayers’ money and do not know the condition of the taxpayers across the length and breadth of the country,” he stated.
Challenging APC leaders to speak directly to Nigerians, Osadolor urged them to hold open town hall meetings without heavy security presence and defend their claims before ordinary citizens.
“I wish these statements they have made, they can call a town hall meeting in Benin or a town hall meeting in Warri or a town hall meeting in Damaturu and face the Nigerian people without security agencies. You will see that they will not make these kinds of bogus claims that they are making now,” he added.
He reiterated that lasting economic progress cannot come from statistics alone but from bold policy actions focused on reliable power supply, job creation, and stabilising the naira, areas he said the APC government has failed to address.
The post FG’s inflation promise, fake – PDP appeared first on Vanguard News.
