Tinubu Administration Reduces Nigeria's Debt by $16bn - Omokri Claims

Former presidential aide Reno Omokri claimed that under President Bola Tinubu's administration, Nigeria's total debt decreased by $16 billion. Omokri stated that the nation's total indebtedness stood at $113 billion when Tinubu took office and was reduced to $97 billion.

This reduction was attributed to data from the Debt Management Office (DMO). Omokri compared this to previous administrations, highlighting that Tinubu is the first civilian leader to achieve such a significant debt reduction.

He also criticized the media for allegedly misleading the public on Nigeria's debt profile. Despite fluctuations due to new borrowing and currency devaluation, recent DMO reports indicate Nigeria's public debt stood at approximately $113 billion in the second quarter of 2023 under Tinubu's administration.