The Debt Management Office (DMO) has refuted recent media reports claiming that Nigeria’s public debt rose to N142 trillion under President Bola Ahmed Tinubu.
In a statement issued on Monday, the DMO clarified that the actual total public debt as of June 30, 2023, when Tinubu assumed office, stood at N87.38 trillion.
The agency emphasized that the N142 trillion figure was inaccurate and misleading. This clarification aims to provide transparency regarding Nigeria’s debt profile and address public concerns over the country’s fiscal health.
The DMO’s statement underscores the need for accurate reporting on critical economic data.
In the statement tagged: “Press rejoinder: Clarification of inaccurate headline ‘How Nigeria’s Debt rose from N21 trillion to N142 trillion under Tinubu’, the DMO described the story as in accurate.
The agency said: “The Debt Management Office (DMO) wishes to notify the general public that the news headline circulating in the media titled, “How Nigeria’s Debt Rose from N21 trillion to 142 trillion under Tinubu” is inaccurate.