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 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.
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