Table of Contents
Former Vice President Atiku Abubakar has expressed criticism of President Bola Tinubu’s management of the foreign exchange crisis in Nigeria, citing a lack of clear ideas and effective policies.
Atiku conveyed his sentiments on his verified social media platform, where he emphasized that the policies implemented by the current administration have exacerbated economic challenges in the country.
Join our Telegram Channel for Updates
In offering alternative solutions, Atiku proposed the adoption of a managed-floating foreign exchange system and the maintenance of sufficient foreign exchange reserves.
He underscored the importance of eliminating multiple exchange rate windows and advocated for a gradualist approach to foreign exchange management.
The former vice president took issue with Tinubu’s failure to present tangible policy steps to address issues such as currency fluctuation and poverty.
Atiku argued that the government’s flawed policies, including poorly negotiated foreign loans and corruption, have significantly contributed to the economic challenges faced by Nigeria.
Atiku urged the government to be receptive to sound advice, tackle internal corruption, and implement effective policies to stabilize the economy.
He highlighted key aspects such as addressing FX illiquidity, fostering confidence in the Nigerian economy, and adopting a responsible approach to foreign exchange management.
In summary, Atiku’s critique revolves around the need for clear and effective policies to address economic challenges, emphasizing the importance of responsible FX management and a comprehensive strategy to boost confidence in the nation’s economy.
