Reno Omokri Challenges Report on Nigeria's Debt Profile Before Tinubu's Inauguration
Ambassador-designate Reno Omokri, a former presidential aide, has publicly disputed a fact-check report regarding Nigeria's debt situation prior to President Bola Ahmed Tinubu's assumption of office. Omokri asserts that the nation's total public debt escalated to $113 billion before Tinubu was inaugurated on May 29, 2023.
Dispute Over Debt Figures and Timing
In a detailed statement, Omokri countered a publication by Daily Trust that cited Nigeria's total public debt as $108.29 billion as of March 31, 2023. He emphasized that this figure, derived from quarterly data released by the Debt Management Office, does not accurately represent the debt inherited by President Tinubu. According to Omokri, the March 2023 data is incomplete because Tinubu took office nearly two months later, and it excludes loans acquired by the Buhari administration during the second quarter of 2023.
Omokri further argued that the reported debt figure failed to account for the "ways and means" debt, which was reportedly uncovered after former President Muhammadu Buhari handed over power. He claimed that by June 2023, Nigeria's debt had surged to $113 billion, citing a report from Dubawa, a fact-checking initiative of the Centre for Journalism Innovation and Development, to substantiate his position.
Detailed Breakdown of Debt Claims
Quoting the Dubawa report, Omokri provided a comprehensive breakdown of the debt figures. He stated, "In the second quarter, which marks the beginning of President Bola Tinubu's administration, the total debt was ₦87 trillion ($113 billion). The total external debt stock was ₦33 trillion ($43 billion). The federal government's external debt was ₦29 trillion ($38 billion), while the external debt stock of states and FCT totalled ₦3 trillion ($4 billion)." This detailed analysis underscores his argument that the debt profile was significantly higher than previously reported.
Call for Verification and Retraction
Omokri urged Daily Trust to verify these figures and retract what he described as a misleading headline. In his statement, he remarked, "I do note your anti-Tinubu stance; however, please verify this and take down this misleading and dishonest headline." This call highlights the ongoing political tensions and debates surrounding Nigeria's economic management and transparency in public debt reporting.
The controversy raises important questions about the accuracy of financial data and the implications for Nigeria's economic policy under the current administration. As discussions continue, stakeholders are closely monitoring how such disputes might influence public perception and governmental accountability in matters of national debt.
