Atiku Abubakar Critiques FG Over Falling Reserves

Atiku Abubakar, the former Vice President of Nigeria, has criticized the Federal Government for the significant decline in the nation's foreign reserves, which fell to $48.45 billion as of April 24, down from $48.72 billion the previous week. This decline of $1.57 billion since March 11 comes despite Nigeria reportedly earning ₦5 trillion from oil windfalls during the same period.

Atiku, through his Senior Special Assistant on Public Communication, Frank Shaibu, described the situation as indicative of poor economic management, suggesting that the Central Bank of Nigeria's approach to supporting the naira is unsustainable. He emphasized that the oil windfall has not translated into relief for Nigerians facing high fuel prices and inflation.

Atiku called for targeted measures to cushion the impact of rising fuel prices and stabilize food supply chains, criticizing the government's failure to invest the windfall into long-term economic strength and infrastructure.