Atiku raises concern over N266bn foreign investment outflow

Former Vice President Atiku Abubakar has raised concerns over the reported N266.07 billion net outflow of foreign portfolio investment from Nigeria’s equities market in the first seven months of 2026.

Atiku, the presidential candidate of the African Democratic Congress, said the development indicated declining investor confidence in the management of the Nigerian economy under President Bola Tinubu.

According to data from the Nigerian Exchange, foreign investors brought N513.36 billion into the equities market between January and July but withdrew N779.43 billion, resulting in a net outflow of N266.07 billion.

Atiku said the outflow was recorded in every month during the period, describing the trend as a concern for the country’s economy.

He noted that the N266.07 billion figure was significantly higher than the N22.68 billion net outflow recorded during the corresponding period in 2023.

The former vice president linked the development to what he described as growing concerns over the direction of the economy and the government’s fiscal policies.

He also cited the reported increase in the Federal Government’s domestic borrowing to N24.7 trillion within eight months, arguing that rising government borrowing and foreign capital outflows were putting pressure on the private sector.

Atiku accused the Tinubu administration of crowding businesses out of the domestic credit market, while foreign investors were reducing their exposure to Nigerian assets.

He called for greater transparency in the management of the economy and policies that would improve investor confidence and encourage the retention of foreign capital.

However, the foreign investment figures also reflect a broader trend in which domestic investors have accounted for much of the increased trading activity on the Nigerian Exchange, while foreign participation has remained under pressure.