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Reno Omokri, Nigeria’s ambassador-designate to Mexico and author, has stated that the country’s total public debt rose to $113 billion before the inauguration of President Bola Tinubu on May 29, 2023.
In a statement to DAILY POST addressing the ongoing debate over Nigeria’s debt profile, Omokri challenged a recent fact-check report on the figures inherited from former President Muhammadu Buhari.
He explained that the $108.29 billion figure referenced in the report reflected Nigeria’s total public debt as of March 31, 2023, based on data released quarterly by the Debt Management Office (DMO).
According to him, the March 2023 data does not accurately represent the debt level inherited by Tinubu, as the president assumed office nearly two months later.
Omokri noted that the figures excluded loans obtained by the Buhari administration in the second quarter of 2023. He added that the data also did not capture the “ways and means” debt reportedly identified after the transition.
He maintained that Nigeria’s total debt had risen to $113 billion by June 2023, citing a report by Dubawa, a fact-checking project of the Centre for Journalism Innovation and Development (CJID).
Quoting the report, Omokri said: “In the second quarter, which marks the beginning of President Bola Tinubu’s administration, the total debt was N87 trillion ($113 billion).
“The total external debt stock was N33 trillion ($43 billion). The federal government’s external debt was N29 trillion ($38 billion), while the external debt stock of states and FCT totaled N3 trillion ($4 billion).”
Omokri urged media organizations to verify the figures and correct what he described as a misleading narrative.
“I do note your anti-Tinubu stance; however, please verify this and take down this misleading and dishonest headline,” he said.
Nigeria’s debt hit $113bn before Tinubu took Office — Reno Omokri claims
