AERE: Economy stabilising, but Nigerians limping, wailing
The Alliance for Economic Research and Ethics (AERE) has said Nigeria’s economy is beginning to stabilise after years of major economic distortions, but warned that the real test for the Federal Government is whether the improvement will translate into better living conditions for Nigerians.
In a policy statement titled “The Economy is Stabilising: Now Let the People Feel It,” the Chairman of AERE, Dr Dele Kelvin-Oye, said recent improvements in key economic indicators should be seen as the beginning of recovery and not the end of the journey.
“Stability is a floor, not a finished house,” Kelvin-Oye said, arguing that the government must now move beyond improving economic figures to making everyday life easier for households and businesses.
He said an economy should not only be attractive to investors but should also work for ordinary families.
According to him, Nigerians should acknowledge areas where progress has been made, while also recognising that the gains have not yet translated into broad prosperity.
Kelvin-Oye credited the administration of President Bola Tinubu with pushing through difficult reforms that previous governments had avoided, including the removal of petrol subsidy, changes to the foreign exchange system, tighter monetary policy and efforts to strengthen Nigeria’s external reserves.