Nigeria's reserves bleeding despite huge oil windfall - Atiku raises alarm

Former Vice President Atiku Abubakar raised concerns about the continued decline of Nigeria's external reserves, which stood at $48.37 billion as of April 29, 2026, despite a N5 trillion oil windfall. He criticized President Bola Tinubu's administration for economic mismanagement, urging careful use of these funds to support vulnerable Nigerians and invest in long-term infrastructure. Atiku warned that external reserves should not be treated as a political war chest and called for a focus on strong economic fundamentals.