Political commentator and former presidential aide, Reno Omokri, has criticised remarks made by the Labour Party’s 2023 presidential candidate, Peter Obi, concerning Nigeria’s debt profile, describing them as “dangerous” and capable of undermining investor confidence in the country.

Speaking during an interview on Channels Television, Omokri accused Obi of spreading misinformation by manipulating debt figures in a way that could mislead the public and alarm foreign investors.

“Peter Obi came here and lied,” Omokri said. “He told Nigerians that President Tinubu has borrowed more than all past administrations combined, which is completely false. That kind of misinformation is dangerous, especially on a platform watched by foreign investors.”

He said Obi’s reference to the naira’s current exchange rate in calculating the country’s total debt was misleading, especially in relation to external loans that were originally secured in foreign currencies.

“Nigeria’s external debts were contracted in dollars, eurobonds, and from foreign governments. You can’t simply convert those debts using today’s exchange rate of N1,531 to the dollar to make them appear worse than they are,” Omokri stated.

Presenting documents from the Debt Management Office (DMO), Omokri said Nigeria’s external debt stood at $63 billion in 2015 when President Muhammadu Buhari assumed office. He added that by 2023, when Buhari left office, the debt had risen to \$113 billion, but has since dropped to $97 billion under President Bola Tinubu.

“This is a fact. Anyone can visit the DMO website and verify it. Tinubu has reduced our external debt. Instead of acknowledging this, Peter Obi distorted the numbers for political gain,” he said.

Obi, in a recent interview, had raised concerns about what he described as a worsening debt crisis under the Tinubu administration, alleging that Nigeria’s total public debt—foreign and domestic—has risen to over N162 trillion. But Omokri dismissed the claim as a misrepresentation.

“You cannot lump together local and external debts and convert everything to naira at today’s rates without context,” he said. “That’s either economic illiteracy or deliberate manipulation.”

Omokri, who holds a master’s degree in International Banking and Finance from a UK university, warned that such “alarmist” statements from a former governor and presidential hopeful could damage Nigeria’s economic reputation.

“There are people abroad watching. These are investors who make real-time decisions based on what political leaders say. If they’re convinced that Nigeria’s economy is collapsing, they’ll simply take their capital elsewhere,” he warned.

He added that although the economy still faces major challenges, some progress is being made under the Tinubu administration, citing reduced crude oil theft, agricultural sector growth, and the signing of new tax reform bills.

“This government has done more in two years to clean up our fiscal system than some past administrations. You may not like Tinubu politically, but let’s be honest some things are working,” he said.

Omokri’s remarks come amid mounting political tension ahead of the 2027 general elections. Peter Obi has recently been named as part of a new opposition coalition, alongside Atiku Abubakar, David Mark, Nasir El-Rufai, and Rauf Aregbesola under the African Democratic Congress (ADC).

Omokri alleged that the coalition’s early activities may be part of a coordinated effort to discredit the Tinubu-led government. He, however, cautioned against sacrificing facts on the altar of political ambition.

“It’s one thing to criticise policy. It’s another thing entirely to mislead the country for electoral gain,” he said. “We must protect the integrity of public discourse, especially when the world is listening.”