Former Vice President, Atiku Abubakar, has described the massive flight of foreign portfolio investment from Nigeria as yet another damning vote of no confidence in the economic management of President Bola Tinubu.
In a statement by his media team on Tuesday, Atiku said the N266 billion net outflow exposed a confidence crisis in Nigeria’s economy under Tinubu.
According to Atiku, the latest Nigerian Exchange data should trouble every Nigerian because capital does not listen to government propaganda about economic performance.
Citing the latest data from the National Bureau of Statistics, Atiku said that in July 2026 alone, foreign investors brought N13.36 billion into the Nigerian equities market but pulled out N779.43 billion, leaving a staggering net outflow of N266.07 billion.
“Foreign outflows exceeded inflows in every single month during the period. The net outflow is about 11.7 times the N22.68 billion recorded in the corresponding period of 2023.
“This is not merely an investment statistic. It is a confidence verdict on the Tinubu economy.
“Imagine a market where the shop owners are broke, customers have no money, the landlord keeps borrowing from everybody, and the few outsiders who brought capital are quietly carrying their money away. Only a foolish landlord would stand at the gate and call that prosperity. That is Tinubu’s economy.
“Only yesterday, Nigerians learnt that the Federal Government had increased its domestic borrowing by 90.5 per cent to N24.7 trillion in just eight months, while credit to government grew more than four times faster than credit to the private sector,” he stated.
