Fact Check: Tinubu Inherited $108.3bn, Not $113bn, and Debt Drop Reflects Currency Shift
Former presidential aide Reno Omokri claimed that President Tinubu inherited a $113 billion debt from Buhari and reduced it to $103.9 billion. He cited official data on his social media post. A review of Debt Management Office figures shows Nigeria’s public debt stood at $108.29 billion when Tinubu took office, not $113 billion. By September 2025, the debt fell to about $103.93 billion in dollar terms but rose sharply in naira value due to currency depreciation. Both Omokri’s and Senator Dino Melaye’s borrowing figures diverge from the verified data. The apparent decline in dollar terms reflects exchange-rate movements rather than a substantive cut in the debt stock.
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