Atiku: Foreign Capital Flight Exposes Crisis of Confidence in Tinubu’s Economy
• Claims N266bn net outflow signals investors’ loss of confidence •Accuses FG of crowding out private sector as domestic borrowing rises Emmanuel Addeh in Abuja Former Vice President, Atiku Abubakar,
Former Vice President Atiku Abubakar has criticized the N266.07 billion net outflow of foreign portfolio investment from Nigeria's equities market, alleging a crisis of confidence in President Bola Tinubu's economic management. In a statement, Atiku pointed to figures from the Nigerian Exchange (NGX) showing that foreign investors withdrew N779.43 billion, while bringing in only N513.36 billion, resulting in a net outflow nearly 12 times larger than the same period in 2023.
Atiku blamed the Tinubu administration for driving foreign investors away while limiting local businesses' access to credit as the government's debt surged 90.5% to N24.7 trillion over eight months. He argued that the economy's struggles with affordable credit, rising costs, and declining purchasing power were preventing investors from returning.
Atiku called for economic policies focusing on private sector growth and household affordability instead of excessive government borrowing.
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