Experts, such as Biyi Adesuyi, CEO of Wealthgate Advisors, and Dr. Paul Alaje, Chief Economist at SPM Professionals, point to the nation's high inflation rate, substantial debt profile, and declining currency value as evidence that the economy is not yet on the right track.
Adesuyi emphasized that the stability achieved in the exchange rate and inflation rate is not sufficient to celebrate, given the significant decline in the purchasing power of the average Nigerian. Alaje cautioned that the government's claim of meeting its revenue target should be interpreted carefully, as it does not necessarily indicate that the economy is growing.
The stakeholders urged the government to focus on creating jobs, enhancing the lives of citizens, and strengthening the naira to alleviate the economic woes of Nigerians. They also advised the government to slow down on debt accumulation, as the nation's debt profile continues to rise.
Citizens, like Kuteyi Ajayi, who has experienced financial hardship due to the reforms, echoed the experts' sentiments, stating that they would only celebrate when their personal finances and those of their family members begin to stabilize.