Former Vice President and ADC presidential candidate Atiku Abubakar has intensified his criticism of President Bola Tinubu’s economic policies, pointing to a reported net outflow of foreign investment from Nigeria’s equities market as evidence of declining investor confidence.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku cited Nigerian Exchange data showing that foreign investors brought N513.36 billion into the equities market between January and July 2026 but withdrew N779.43 billion during the same period.
The figures resulted in a reported net outflow of N266.07 billion, with Atiku arguing that foreign investment outflows exceeded inflows in every month of the seven-month period. He described the trend as a warning sign for the government’s economic management.
Atiku also linked the investment figures to the Federal Government’s rising domestic borrowing. He argued that increased government borrowing could make it harder for private businesses to access credit and stimulate production.
The ADC candidate said Nigeria needs economic policies that restore investor confidence, reduce the cost of doing business and make energy and transportation more affordable. He contrasted his proposed approach with what he described as an economy driven excessively by government borrowing and consumption.
While Atiku continued his criticism of the administration, the All Progressives Congress (APC) responded by calling for investigations into allegations involving the former vice president.
APC former National Vice Chairman (South-South), Hilliard Eta, urged the Economic and Financial Crimes Commission and other relevant agencies to examine petitions and historical records concerning Atiku. Eta stressed that his demand was for evidence to be assessed through due process rather than for the former vice president to be convicted in the media.
Eta referred to issues raised in a 2010 United States Senate report, including financial transfers involving offshore entities and accounts associated with Jennifer Douglas, Atiku’s former wife. He also cited matters involving alleged payments connected to Siemens and financial transactions linked to American University of Nigeria.
Atiku has previously demanded scrutiny of issues surrounding President Tinubu, particularly records connected to a decades-old investigation in the United States. Eta argued that the same standard of scrutiny should apply to Atiku, insisting that there should be no political immunity or selective justice.
The political battle has widened beyond Atiku and Tinubu. Oyo State APC Chairman Kayode Babayomi has separately called on the EFCC and ICPC to investigate what he described as alleged misuse of Oyo State resources for Governor Seyi Makinde’s political activities. Makinde and his administration have not been established to have committed any wrongdoing by the allegations cited.
Meanwhile, President Tinubu’s Special Adviser on Policy Communication, Daniel Bwala, criticised Labour-linked presidential hopeful Peter Obi over his attendance at the launch of Seyi Makinde’s campaign office in Abuja. Bwala questioned Obi’s decision to appear at an event linked to another presidential candidate while campaigning under his own political platform.
Fresh challenges have also emerged within the ADC coalition as the party works towards building its 2027 presidential campaign structure. Internal discussions reportedly include demands from a faction of the PDP led by Saminu Turaki for prominent positions in the proposed campaign council.
The negotiations have reportedly raised concerns over internal disagreements, campaign costs and the timing of establishing a structure that could operate for several months. The ADC is also considering how to accommodate different political interests within the coalition ahead of the 2027 presidential election.
