Economic Group Slams Atiku Over “Political Theatre” Comments on National Reserves

Former Vice President Atiku Abubakar is facing sharp criticism from the economic think-tank, Advocates for Economic and Political Advancement, following his claims of poor economic management under the current administration. Atiku recently cited a drop in external reserves despite high oil earnings as evidence of failure. However, the group’s spokesperson, Dr. Opialu Fabian, dismissed these remarks as propaganda driven by political bitterness rather than genuine analysis, noting that reserves are projected to rise above $51 billion later this year.

The think-tank argued that using isolated figures to attack the government ignores the complex realities of exchange rate management and capital flows. They characterized the former Vice President’s approach as a calculated attempt to mislead the public, stating, “Select a number. Strip it of context. Amplify it for political effect. That is not economic analysis. That is political theatre.” The group highlighted that under the Renewed Hope Agenda, inflation has already seen a sharp decline from 34 percent to 14.5 percent.

The Advocates further defended the administration’s appointment of Taiwo Oyedele as Minister of Finance, asserting that his leadership has introduced vital policy coherence and tax reforms. They noted that reforms are currently targeting $20 billion in idle funds within the banking system and trillions in underutilized public assets. These structural changes, including the removal of fuel subsidies and the unification of foreign exchange, are described as necessary steps that are now yielding a balance of payments surplus.

The group concluded by urging Nigerian political actors to prioritize factual engagement over short-term fluctuations that occur during this transition phase. They maintained that the bold decisions taken by President Tinubu are already resulting in increased disbursements to states for critical development projects. By focusing on the broader structural progress, the think-tank insists that the administration is successfully restoring investor confidence and stabilizing the national economy for long-term growth.