A former presidential aide, Reno Omokri, has claimed that Nigeria’s total debt has decreased by $16 billion under the administration of President Bola Tinubu.

In a post on X, formerly Twitter, Omokri stated that the nation’s total indebtedness, which stood at $113 billion when President Tinubu took office, has now been reduced to $97 billion.

He attributed this data to the Debt Management Office (DMO).

“President Jonathan handed over a total debt of $63 billion to General Buhari. General Buhari handed over $113 billion in debt to President Tinubu.

“President Bola Tinubu has reduced Buhari’s $113 billion debt to $97 billion. Only two civilian administrations have ever reduced Nigeria’s debt: the Obasanjo government and the Tinubu administration,” Omokri wrote.

Omokri went on to accuse opposition-linked media of misleading the public about Nigeria’s debt profile and urged Nigerians to “focus on the truth.”

Information from the Debt Management Office (DMO) indicates that as of the second quarter of 2023, which marked the beginning of President Tinubu’s administration, Nigeria’s public debt stood at N87.38 trillion, equivalent to approximately $113 billion at the time.

The DMO’s most recent reports indicate that the total public debt has since fluctuated due to a combination of new borrowings and the devaluation of the naira against the dollar.

However, a significant increase in the debt stock in naira terms was recorded in the first quarter of 2024, reaching N121.67 trillion, which in dollar terms was about $91.46 billion due to the naira’s depreciation.

Other sources suggest that as of September 2024, the public debt had risen to N142.3 trillion.