Former presidential aide, Reno Omokri, has said that Nigeria’s total public debt rose to $113 billion before the inauguration of Bola Ahmed Tinubu on 29 May 2023.

In a statement, Omokri disputed a fact-check published by Daily Trust on the debt profile inherited by Tinubu from former president Muhammadu Buhari.

He said the $108.29 billion figure cited in the report represented Nigeria’s total public debt as of 31 March 2023.

According to him, the figure was based on quarterly data released by the Debt Management Office.

Omokri argued that the March 2023 data could not accurately reflect the debt inherited by Tinubu, as the president assumed office nearly two months later.

He added that the figures did not include loans obtained by the Buhari administration in the second quarter of 2023.

Omokri also stated that the data excluded the “ways and means” debt that was reportedly discovered after Buhari handed over power.

According to him, Nigeria’s debt had climbed to $113 billion by June 2023.

He cited a report by Dubawa, a fact-checking project of the Centre for Journalism Innovation and Development, to support his claim.
Quoting the report, Omokri said: “In the second quarter, which marks the beginning of President Bola Tinubu’s administration, the total debt was ₦87 trillion ($113 billion).

“The total external debt stock was ₦33 trillion ($43 billion). The federal government’s external debt was ₦29 trillion ($38 billion), while the external debt stock of states and FCT totalled ₦3 trillion ($4 billion).”

Omokri urged the newspaper to verify the figures and withdraw what he described as a misleading headline.

“I do note your anti-Tinubu stance; however, please verify this and take down this misleading and dishonest headline,” he said.