$10 Can’t Buy Lunch in the U.S., But $1 Gets You a Full Meal in Nigeria – Tinubu’s Adviser Explains

 By: Manoah kikekon 

Dr. Tope Fasua

Dr. Tope Fasua, Special Adviser to President Bola Tinubu on Economic Affairs, has defended the naira’s purchasing power, arguing that global poverty metrics often overlook Nigeria’s cost of living advantages.

Speaking on MicOnPodcast with Seun Okinbaloye, Fasua clarified misconceptions about multi-dimensional poverty, stating that it extends beyond hunger to include access to education and healthcare.  

"Multi-dimensional poverty doesn’t just mean food scarcity—it could mean your child’s school is far away or healthcare is inaccessible," he explained.  

Despite the naira’s exchange rate slump (N1,500/$1), Fasua emphasized that Nigerians still enjoy lower living costs compared to the U.S.  

"$10 won’t even buy lunch in America—sometimes you need $20 (N30,000). But in Nigeria, $1 (N1,500) can get you a decent meal," he said.  

Citing street food options like grilled plantain (Boli) and fish in Abuja’s Gwarinpa area, Fasua illustrated how Nigerians spend far less on meals than foreigners.  

"With just N7,500 ($5), you can eat well if you know where to go—unlike abroad where that amount barely covers a snack."*  

His remarks highlight the gap between currency valuations and real-life affordability, urging a rethink of how poverty is measured.