Nigeria’s reserves bleeding despite huge oil windfall – Atiku raises alarm

Former Vice President Atiku Abubakar has raised the alarm implicit the continued diminution successful Nigeria’s outer reserves contempt a immense crude lipid windfall owed to the Middle East crisis.

Atiku spoke successful a connection by his spokesperson, Phrank Shaibu, connected Sunday.

DAILY POST reports that Nigeria’s overseas reserves dropped to $48.37 cardinal arsenic of 29th April 2026, according to Central Bank of Nigeria, CBN, data.

This comes contempt a immense N5 trillion lipid windfall wrong this period.

Reacting, Atiku said the improvement is simply a contradiction begging for answers from President Bola Tinubu’s administration.

According to him, the contradiction exposed a unsafe signifier of economical mismanagement nether Tinubu’s administration.

“This is not stability—it is simply a fragile illusion sustained by burning done nationalist savings. A federation cannot devour its buffers to disguise argumentation failures portion ignoring the structural weaknesses undermining its currency. Defending the naira without fixing productivity, exports, and capitalist assurance is akin to pouring h2o into a basket,” the connection said.

Atiku issued 2 wide warnings: “First, this windfall indispensable not beryllium squandered connected recurrent expenditure oregon governmental patronage. It indispensable beryllium deployed deliberately to supply targeted alleviation to Nigerians—through structured interventions that cushion the interaction of substance terms increases, stabiliz...