Buhari’s bad economic policies killed Atiku’s investment in Intels – PDP

Buhari’s bad economic policies killed Atiku’s investment in Intels – PDP

– A recent business decision by Alhaji Atiku Abubakar is still generating reactions

– The former vice president recently sold his shares in Nigeria’s largest logistics company

– While some say the decision was a strictly business affair, others say it has a lot to do with politics

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The national publicity secretary of the Peoples Democratic Party (PDP), Kola Ologbondiyan, has declared that President Muhammadu Buhari’s policies were killing investment and Nigeria’s economy.

Ologbodiyan stated this in an interview with Daily Trust published on Tuesday, January 5.

The opposition party’s spokesman made the comment while reacting to former vice president Atiku Abubakar selling off his shares in Nigeria’s logistics company – INTELS.

Buhari's economic policies killed Atiku's investment in Intels, says Ologbodiyan

Atiku was reputed to be a successful businessman before venturing into politics.
Photo credit: @atiku
Source: Twitter

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The company has been at loggerheads with the Nigeria Ports Authority in recent times, a feud Atiku insists is politically-motivated.

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Ologbodiyan said:

“Under President Buhari, all security, economic, and social indicators have gone negative.

“The Buhari administration has not encouraged direct foreign investment and it has wrecked our economy.

“So, if it comes to a point that people are now selling their investments, it is because of the poor economic policies of this administration.

“The Buhari administration is killing investment and this is having a very negative implication on the nation’s economy.”

When contacted, the NPA said it was not bothered by the exit of Atiku from INTELS.

A spokesman for the NPA, Ibrahim Nasiru, said officials of the agency only read of Atiku’s exit from INTELS in the news.

Atiku had earlier confirmed selling his shares in the company and redirecting his businesses through reinvestments.

He confirmed this in a statement released by his media aide, Paul Ibe, on Monday, January 4.

He explained that he had sold his shares and redirected his investment to other sectors of the economy for returns and the creation of jobs, contrary to the speculations that he made the move in preparation for the 2023 elections.

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Despite his explanation, some political analysts say Atiku is actually still interested in the presidency and the divestment from INTELS is an indication.

Such analysts say with that amount of cash, Atiku may be ready for another presidential bid despite the recent denial.

With his deep pocket and a likely final push for the presidency in 2023, Atiku is seen one of the favourites to clinch the presidential ticket of the PDP.

Already, there are insinuations that the current leadership of the party favours handing their ticket to the Adamawa-born politician in the 2023 polls.

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