₦airaland Forum

The President Bola Tinubu-led government on Tuesday blamed Nigeria’s debt on naira depreciation, dismissing criticisms that it is piling up debt for the country through reckless borrowings.

In a statement on Tuesday, Mr Tinubu’s spokesperson, Sunday Dare, said Nigeria’s debt had remained the same since March.

“Nigeria’s total public debt stood at ₦149.39 trillion as of March 31, 2025, according to the Debt Management Office,” Mr Dare said.

“The jump from last year is not the result of reckless borrowing but largely the arithmetic of naira depreciation,” he added.

The presidential spokesperson explained that “When the currency adjusts, the naira value of existing external debt rises—whether or not new loans are taken.”

In comparison, Mr Dare argued that “Nigeria’s debt-to-GDP ratio remains a moderate 40–45 per cent, well below South Africa’s 70 per cent or Ghana’s 90 per cent plus. The real challenge lies in revenue mobilisation, not runaway borrowing. Encouragingly, revenues are improving, strengthening our capacity to service obligations.

For Mr Dare, “Borrowing is a legitimate tool for financing growth and reforms.”

Mr Dare’s statement drew responses from some netizens who disagreed with his stance on Nigeria’s debt under Mr Tinubu’s watch.

An X user, @Iam_arizona, said, “Which regime caused naira depreciation. How much has the current regime borrowed? Defending Tinubu, you must sound stupid.”

Another user, @Orewae, said, “Your government is unpopular and in the minority. Your principal’s mode of governance is extremely irritating to the majority of Nigerians. Who depreciated the naira?”

“Naira has appreciated in the larger part of this year; the debt should reduce. Govt claims it has made so much money this year, the debt should either stagnate or reduce,” @udoetuknyanah said.

Also, @luvfemi2015 said, “A govt with wicked and heartless policies. It’s only the sycophants that are praising this government. 99.9 per cent of Nigerians detest this wicked government.”

https://gazettengr.com/tinubu-govt-blames-rising-nigerias-debt-on-naira-collapse/

Gazette fake news, the darling fake blog of wailers

Who didn’t know Tinubu floated the naira?

All these opposition no just sabi at all..

ogododo:
The President Bola Tinubu-led government on Tuesday blamed Nigeria’s debt on naira depreciation, dismissing criticisms that it is piling up debt for the country through reckless borrowings.

In a statement on Tuesday, Mr Tinubu’s spokesperson, Sunday Dare, said Nigeria’s debt had remained the same since March.

“Nigeria’s total public debt stood at ₦149.39 trillion as of March 31, 2025, according to the Debt Management Office,” Mr Dare said.

“The jump from last year is not the result of reckless borrowing but largely the arithmetic of naira depreciation,” he added.

The presidential spokesperson explained that “When the currency adjusts, the naira value of existing external debt rises—whether or not new loans are taken.”

In comparison, Mr Dare argued that “Nigeria’s debt-to-GDP ratio remains a moderate 40–45 per cent, well below South Africa’s 70 per cent or Ghana’s 90 per cent plus. The real challenge lies in revenue mobilisation, not runaway borrowing. Encouragingly, revenues are improving, strengthening our capacity to service obligations.

For Mr Dare, “Borrowing is a legitimate tool for financing growth and reforms.”

Mr Dare’s statement drew responses from some netizens who disagreed with his stance on Nigeria’s debt under Mr Tinubu’s watch.

An X user, @Iam_arizona, said, “Which regime caused naira depreciation. How much has the current regime borrowed? Defending Tinubu, you must sound stupid.”

Another user, @Orewae, said, “Your government is unpopular and in the minority. Your principal’s mode of governance is extremely irritating to the majority of Nigerians. Who depreciated the naira?”

“Naira has appreciated in the larger part of this year; the debt should reduce. Govt claims it has made so much money this year, the debt should either stagnate or reduce,” @udoetuknyanah said.

Also, @luvfemi2015 said, “A govt with wicked and heartless policies. It’s only the sycophants that are praising this government. 99.9 per cent of Nigerians detest this wicked government.”

https://gazettengr.com/tinubu-govt-blames-rising-nigerias-debt-on-naira-collapse/

shameless people you destroy your currency yourself and is has severe disastrous effect on doubling your debts profile now blaming what you did yourself

Who collapse the Naira if not Tinubu and his shortsighted self centered bad policies ...the day he stood on the podium in Eagle Square and shouted subsidy is over prematurely is the day his govt policies was doomed to fail

SarkinYarki:
Who collapse the Naira if not Tinubu and his shortsighted self centered bad policies ...the day he stood on the podium in Eagle Square and shouted subsidy is over prematurely is the day his govt policies was doomed to fail

He followed up by increasing prices of all available government products in the name of subsidy removal, from Petroleum products to forex to custom duties to electricity tariffs, to passport procurement, to hike in school fees, while paying pittance as wages
It is clearing the man is a rookie in modern leadership, although he excel in agbero leadership, but as a leader in modern society he is a misnomer

Were his louts not telling us he took a bold step, no President has taken. Many middle class are now poorer, but funny thing most of them still defend them.

Tinubu you have nothing to offer. Retire to your home by 2027 or Nigerians will disgrace you out of office. You're a disaster that will never happen again

Putindbutt:
Gazette fake news, the darling fake blog of wailers

for reporting that the father of all liars lied

..tilumbu..

..you collapse the Naira..due to your own self made policies..& still have to dwell on your own cluelessness blaming your own destructive policues that collapsed the naira..

..typical of fake guru strategists..