Reno Omokri Counters Statisense On Tinubu/buhari Debt

 Reno Omokri Counters Statisense On Tinubu/buhari Debt

Dear @StatiSense,

Thank you for your comment. Actually, this is deceptive and manipulative. The Naira's value under General Buhari is not the same as the Naira's value under President Tinubu, and quantifying Nigeria's total debt only in Naira, without context, of which much of that debt is external loans taken out in dollars, is to paint a false picture of financial profligacy.

Here are the facts that you failed to tell Nigerians. When President Jonathan handed over to General Buhari on May 29, 2015, Nigeria's total public debt was $63.8 billion, equivalent to ₦12.1 trillion.

From $63.8 billion, Nigeria's total public debt rose to $108.2 billion on May 29, 2023, when General Buhari handed over to President Jonathan. I have attached official figures from the Debt Management Office for your information. Please note that this is directly from the DMO and has not been altered by me. You may want to visit dmo.gov.ng to verify this data.

When you add 'illegal' debts taken but not declared by that administration, the figure rises to $113 billion. Some of that debt is why the immediate past Governor of the Central Bank of Nigeria is on trial.

As of today, Nigeria's total public debt is $103.9 billion. It has actually reduced!

However, due to the change in the Naira's value resulting from the flotation of our currency under the Tinubu administration, quantifying our total public debt in Naira gives the false impression that it has risen.

Can you please tell Nigerians the dollar amount of their total public debt on May 29, 2023, versus the dollar amount today, rather than give them Naira figures without context?

I hope you will use your good offices to correct the wrong impression you have given. Thank you.

Reno Omokri

Ambassador Designate to Mexico. Gospeller. Deep Thinker. #TableShaker. #1 Bestselling author of Facts Versus Fiction: The True Story of the Jonathan Years. Hodophile. Hollywood Magazine Humanitarian of the Year, 2019. Business Insider Influencer of the Year, 2022. 21st Most Talked About Person in Africa, 2024.