Atiku: Foreign Capital Flight Exposes Crisis of Confidence in Tinubu’s Economy - THISDAYLIVE
Atiku: Foreign Capital Flight Exposes Crisis of Confidence in Tinubu’s Economy - THISDAYLIVE
Source: THISDAYLIVE
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DW NOTE
Atiku is pointing at capital outflows under Tinubu, and he's not wrong to look there — but the mechanism matters. Nigeria isn't losing foreign capital because investors woke up sceptical. It's losing it because the naira has been devalued four times since 2020, each time eroding the dollar value of local holdings, and because fuel subsidy removal drove headline inflation past 30% while real wages collapsed. The capital flight isn't a crisis of confidence. It's rational actors pricing in state capacity failure and getting out before the next forced devaluation. Calling it a "confidence" problem implies the fundamentals are sound and the messaging is bad. The fundamentals are not sound.