The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has called for economic policies aimed at restoring investor confidence, reducing the cost of doing business and making energy and transportation more affordable in Nigeria.
Atiku made the call in a statement issued on Tuesday by his Senior Special Assistant on Public Communication, Phrank Shaibu, while commenting on the country’s investment climate and the challenges facing businesses.
The former vice-president said the private sector should play a greater role in driving economic growth, rather than being crowded out by increased government borrowing.
He cited data from the Nigerian Exchange, which showed that foreign investors brought ₦513.36 billion into the Nigerian equities market between January and July 2026 but withdrew ₦779.43 billion within the same period.
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The figures, according to Atiku, resulted in a net capital outflow of ₦266.07 billion.
He said foreign investors recorded higher outflows than inflows in every month during the period, adding that the net outflow was about 11.7 times the ₦22.68 billion recorded during the corresponding period in 2023.
“This is not merely an investment statistic. It is a confidence verdict on the Tinubu economy,” he said.
Government Borrowing and Private Sector
Atiku also linked the situation to increased domestic borrowing by the Federal Government, which he said had risen by 90.5 percent to ₦24.7 trillion in eight months.
He further claimed that credit to government had grown more than four times faster than credit available to the private sector.
“So, the picture is now painfully clear: Tinubu’s government is crowding Nigerian businesses out of the domestic credit market while foreign investors are taking their money and heading for the exit,” he said.
Businesses Facing Rising Costs
Atiku stressed that Nigerian businesses are struggling with rising operating costs, while households are also facing higher food and transportation expenses.
“Local businesses are suffocating. Foreign capital is fleeing. Government borrowing is exploding. Food prices have skyrocketed. Transportation costs are crushing families,” he said.
The ADC candidate said Nigeria could not be considered to be experiencing an economic recovery when entrepreneurs were unable to access affordable credit, manufacturers were struggling with operating costs, households were losing purchasing power and investors were reluctant to keep their money in the country.
He said investors were increasingly focused on policy consistency, inflation, purchasing power, regulatory certainty and the ability to earn sustainable returns.
Atiku also called for policies that would encourage production and lower the cost of energy and transportation, stressing that the private sector should be at the centre of economic growth.
“That is the fundamental difference between Tinubu’s economics of government consumption and Atiku’s economics of private-sector production and household affordability,” he said.
“You cannot borrow the private sector dry, impoverish consumers and then advertise yourself to the world as an investment destination. The investors are already answering the propaganda. They are leaving,” he said.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.