N266bn net outflow exposes confidence crisis as Nigeria’s economy bleeds under Tinubu – Atiku

Former Vice President Atiku Abubakar has labeled the significant withdrawal of foreign portfolio investments from Nigeria as a clear sign of lack of confidence in President Bola Tinubu's economic administration. In a recent statement, Atiku highlighted that the N266 billion net outflow demonstrates a crisis of confidence within Nigeria's economy under Tinubu's leadership.

According to Atiku, the recent data from the Nigerian Exchange indicates that despite foreign investors injecting N13.36 billion into the Nigerian equities market in July 2026, they simultaneously withdrew N779.43 billion, resulting in a substantial net outflow of N266.07 billion. He emphasized that foreign outflows exceeded inflows in every month of the period, marking a net outflow amounting to 11.7 times the N22.68 billion recorded during the same period in 2023.

Atiku pointed out that this issue transcends being merely an investment statistic; it is a verdict of confidence on Tinubu's economic management. He painted a vivid picture of the economic landscape, likening it to a market with shop owners who are broke, customers without money, and landlords constantly borrowing from one another, while a few outsiders quietly withdraw their capital. Atiku remarked that for a landlord to claim prosperity in such circumstances would be foolish.

Furthermore, Atiku highlighted that just recently, the Nigerian government increased its domestic borrowing by 90.5 percent, reaching N24.7 trillion within only eight months. Additionally, credit to the government grew more than four times faster than credit to the private sector. Atiku concluded by stating that the N266 billion net outflow vividly illustrates the crisis of confidence plaguing Nigeria's economy under Tinubu's governance.