Nigeria’s ambassador-designate to Mexico, Reno Omokri, has claimed that Nigeria’s total public debt has significantly dropped under President Bola Ahmed Tinubu’s administration.
Omokri, who said this during an interview with the News Central at the induction course for ambassadors and high commissioners designate at the Ministry of Foreign Affairs on April 27, 2026, further asserted that while the debt stood at $113 billion in June 2023, it has now dropped to $103 billion as of April 2026.
He argued that critics like Peter Obi misled the public by calculating the debt profile in Naira rather than Dollars.
“When this administration came into being on May 29, 2023, Nigeria owed $113 billion, so if you go to DMO, the debt management office, and go to their website, which is dmo.gov.ng, on March 31, 2023, Nigeria’s total debt was $108 billion. And then, because the DMO gives those figures every quarter, the next quarter, which was June 31, 2023, our debts had ballooned to $113 billion. Right now as I speak to you, April 27, 2026, our debt is $103 billion. So you can see that our debt under President Tinubu has reduced by 10 billion dollars. What people like Peter Obi tend to do is they calculate our debt in Naira.”
As of April 28, the post has garnered over 90,000 views, 100 likes and 70 quotes, causing lots of ruckus as financial debates erupted.
Nigeria’s total public debt has been reduced by $10 billion under President Tinubu, moving from $113 billion in June 2023 to...
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