Forner Vice President Atiku Abubakar has come under fire over his recent criticism of the President Bola Tinubu administration’s management of the country’s external reserves.

In a recent statement, Atiku accused the Federal Government of poor economic management, citing the drop in external reserves despite rising oil earnings.

However, an economic think-tank, Advocates for Economic and Political Advancement, on Tuesday described Atiku’s comments as “cheap politics dressed up as concern” and pure propaganda.

In a statement signed by Dr Opialu Fabian, the economic think-tank said Atiku’s comments were not rooted in genuine economic analysis but driven by bitterness after multiple unsuccessful attempts to lead the country.

The Advocates for Economic and Political Advancement dismissed Atiku’s reference to Nigeria’s external reserves of about $48.45 billion as evidence of failure.

Opialu noted that the same economic framework projects the reserves to rise above $51 billion within the year, describing the situation as a managed adjustment within an ongoing reform cycle rather than a decline.

He argued that reserves are influenced by several factors, including exchange rate management, capital flows, and liquidity interventions by the Central Bank, and should not be viewed in isolation or used for political effect.

“Select a number. Strip it of context. Amplify it for political effect. That is not economic analysis. That is political theatre,” the think-tank said while highlighting what they described as significant macroeconomic improvements under President Tinubu’s Renewed Hope Agenda.

They pointed to projected economic growth of 4.49 percent, a sharp drop in inflation from over 34 percent to about 14.5 percent — with expectations of further decline to around 12.94 percent — as well as a balance of payments surplus and gradual return of investor confidence.

Advocates for Economic and Political Advancement backed the appointment of Taiwo Oyedele as Minister of Finance and Coordinating Minister of the Economy, saying it signals a new era of policy coherence, structured tax reforms, improved revenue generation, and better utilisation of idle funds and public assets.

It noted that over $20 billion currently sits idle in the banking system under reserve requirements, while many public assets worth tens of trillions of naira remain underutilised, adding that addressing these inefficiencies forms a core part of the ongoing reforms.

While acknowledging that Nigeria is still in a transition phase with attendant challenges, the group maintained that the bold decisions taken by the Tinubu administration, particularly the removal of fuel subsidies and unification of the foreign exchange market, were necessary and are beginning to produce positive results, including increased disbursements to states for development projects.

The Advocates urged Nigerians to focus on the broader picture of structural reforms rather than short-term fluctuations, calling on political actors, especially Atiku Abubakar, to engage honestly with facts instead of recycling talking points that ignore visible progress.

.

Yusuf Datti Baba-Ahmed, the Labour Party presidential running mate with Peter Obi in the 2023 election, has revealed the major problem he has with the former Anambra State governor.

In an interview released on X Monday, Baba-Ahmed told Peter Obi to stay away from the 2027 presidential election if he is not ready to fight.

He faulted Peter Obi’s exit from the Labour Party, noting that he would have remained to address the opposition party’s challenge.

According to him, the north may not rally behind Peter Obi and former Kano Governor Rabiu Kwankwaso’s presidential ticket as being touted by both politicians.

“As much as I dislike what the All Progressives Congress has done against Nigerians, someone who got the Labour Party’s ticket so easily should have stayed to fix the problem of the party no matter how difficult it is.

“My former leader (Peter Obi) saying that wherever there is a quarrel, he will walk away? So there is a quarrel in Nigeria, will he walk away? If you are not ready to fight, stay in your house,” he stated.

Recall that on Sunday, Peter Obi and Kwankwaso dumped the African Democratic Congress for the Nigerian Democratic Congress.

DAILY POST reports that Peter Obi had earlier defected from LP, where he had run for the 2023 presidential election with Baba-Ahmed.