Atiku Abubakar Raises Alarm Over Nigeria's Economic Decline

Former Vice President Atiku Abubakar raised concerns regarding Nigeria's economic state under President Bola Ahmed Tinubu, highlighting a significant net outflow of foreign portfolio investment amounting to ₦266.07 billion between January and July 2026. This figure emerged from data provided by the Nigerian Exchange, which indicated that foreign investors injected ₦513.36 billion into the Nigerian equities market but withdrew ₦779.43 billion during the same period.

Atiku's statement, delivered by his Senior Special Assistant on Public Communication, Phrank Shaibu, noted that outflows surpassed inflows each month and were approximately 11.7 times greater than the ₦22.68 billion outflow recorded in the corresponding period of 2023. Additionally, the Federal Government's domestic borrowing increased by 90.5% to ₦24.7 trillion within the first eight months of 2026, making it harder for local businesses to access credit.

Atiku urged the administration to implement consistent policies that would lower business costs and enhance investor confidence.