₦airaland Forum

Former presidential aide and Nigeria’s Ambassador-designate to Mexico, Reno Omokri, has claimed that President Bola Tinubu inherited a debt of $113bn from former President Muhammadu Buhari and has since reduced it to $103.9bn.

Omokri made the claim in a post on his X (formerly Twitter) handle on Thursday. As of the time of this verification, the post had garnered 27,200 views, 628 reposts, 348 likes, and five quote posts.



“The truth is that President Tinubu inherited a huge debt burden of $113bn from President Buhari and has reduced the total public debt he inherited to $103.9bn, which may be why The Economist reported last month that Nigeria’s ‘golden years’ are likely to return due to President Tinubu’s reforms,” he wrote.




Omokri made the statement in response to criticism from Senator Dino Melaye, who had earlier posted on his X handle that “Buhari with subsidy borrowed N83 trillion in eight years, while Tinubu without subsidy borrowed N158 trillion in three years. We have become a chartered borrowing nation. Where is the borrowed money?”

While Melaye did not cite any source for his figures, Omokri referenced the Debt Management Office (DMO), stating: “You may want to consult the Debt Management Office’s website for the accurate figure of Nigeria’s total debt.”

The justification for fact-checking Omokri’s claim over Melaye’s is the former’s reliance on official data and direct assertions supporting his position.

Nigeria’s public debt has risen significantly over successive administrations. Data from the Debt Management Office (DMO) shows that as of 2012, Nigeria’s total public debt stood at $48.49bn (N7.55trn). By September 30, 2025, the debt had increased to $55.47bn, equivalent to N81.81trn at an exchange rate of N1,474.85/$.



A review of data on the DMO website shows that Nigeria’s total public debt stood at $108.29bn (N49.85trn) as of March 31, 2023, just before President Tinubu assumed office on May 29, 2023. This figure was calculated using an exchange rate of N460.85/$.

By September 30, 2025, the total public debt had declined to $103.93bn but increased in naira terms to N153.29trn, reflecting the impact of currency depreciation at an exchange rate of N1,474.85/$.

For context, former President Buhari inherited a total public debt of $63.50bn (N12.06trn) as of March 31, 2015, the last available figure before he assumed office, based on DMO data.

The apparent reduction in dollar terms under Tinubu contrasts with a sharp rise in the naira value of the debt. Analysts attribute this divergence largely to the devaluation of the naira rather than a significant reduction in



Omokri’s claim that President Bola Tinubu inherited $113bn in debt from Buhari and reduced it to $103.9bn is misleading.

Official data shows that the inherited debt stood at $108.29bn, not $113bn. While the current debt figure of approximately $103.93bn is accurate in dollar terms, the naira value has increased substantially.

Overall, both Omokri’s and Melaye’s claims are inconsistent with verified data from the Debt Management Office.


https://dailytrust.com/fact-check-tinubu-did-not-inherit-113bn-debt-as-reno-claimed/

When you hear this double-mouth return-to-vomit asslicker saying go fact-check, then know that he is telling another lie.

Racoon:
When you hear this double-mouth return-to-vomit asslicker saying go fact-check, then know that he is telling another lie.

My take too
Reno is a mumuman

From my review of the 3 analyses on Nigeria’s debt, it appears the current administration has not significantly increased borrowing since assuming office in 2023.

What Dino Melaye and his ever-eager band of unintelligent clowns keep parroting is merely a rehash of the existing debt stock, inflated in naira terms due to the currency float rather than any substantive new borrowing.

Richtaiwo:
Omokri made the claim in a post on his X (formerly Twitter) handle on Thursday. As of the time of this verification, the post had garnered 27,200 views, 628 reposts, 348 likes, and five quote posts.

Hehehe 🤭 see data boi no know wetin to post to take and defend his useless tilumbu sooteey him dey copy paste the news 📰

Una go cry, wait first make campaign season begin 😏

Reno Omokiri is just an empty rabble rouser. Tinubu has become the S.I. unit of failure in governance and administration.

How Nigeria got here is unexplainable. Today and tomorrow in Abuja, more resources will be wasted.

Nlfpmod, daily trust provided facts.

With all the subsidy money is he not supposed to have paid off all debts in 3yrs plus?

If you want to counter, it's also good to do it with integrity.

Here is what Reno said on the subject:

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.

Which is what you are talking about. It was after he had stated that, he then wen ahead to tell us why he believes the true amount should be $113

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.

iwaeda:
Former presidential aide and Nigeria’s Ambassador-designate to Mexico, Reno Omokri, has claimed that President Bola Tinubu inherited a debt of $113bn from former President Muhammadu Buhari and has since reduced it to $103.9bn.

Omokri made the claim in a post on his X (formerly Twitter) handle on Thursday. As of the time of this verification, the post had garnered 27,200 views, 628 reposts, 348 likes, and five quote posts.



“The truth is that President Tinubu inherited a huge debt burden of $113bn from President Buhari and has reduced the total public debt he inherited to $103.9bn, which may be why The Economist reported last month that Nigeria’s ‘golden years’ are likely to return due to President Tinubu’s reforms,” he wrote.




Omokri made the statement in response to criticism from Senator Dino Melaye, who had earlier posted on his X handle that “Buhari with subsidy borrowed N83 trillion in eight years, while Tinubu without subsidy borrowed N158 trillion in three years. We have become a chartered borrowing nation. Where is the borrowed money?”

While Melaye did not cite any source for his figures, Omokri referenced the Debt Management Office (DMO), stating: “You may want to consult the Debt Management Office’s website for the accurate figure of Nigeria’s total debt.”

The justification for fact-checking Omokri’s claim over Melaye’s is the former’s reliance on official data and direct assertions supporting his position.

Nigeria’s public debt has risen significantly over successive administrations. Data from the Debt Management Office (DMO) shows that as of 2012, Nigeria’s total public debt stood at $48.49bn (N7.55trn). By September 30, 2025, the debt had increased to $55.47bn, equivalent to N81.81trn at an exchange rate of N1,474.85/$.



A review of data on the DMO website shows that Nigeria’s total public debt stood at $108.29bn (N49.85trn) as of March 31, 2023, just before President Tinubu assumed office on May 29, 2023. This figure was calculated using an exchange rate of N460.85/$.

By September 30, 2025, the total public debt had declined to $103.93bn but increased in naira terms to N153.29trn, reflecting the impact of currency depreciation at an exchange rate of N1,474.85/$.

For context, former President Buhari inherited a total public debt of $63.50bn (N12.06trn) as of March 31, 2015, the last available figure before he assumed office, based on DMO data.

The apparent reduction in dollar terms under Tinubu contrasts with a sharp rise in the naira value of the debt. Analysts attribute this divergence largely to the devaluation of the naira rather than a significant reduction in



Omokri’s claim that President Bola Tinubu inherited $113bn in debt from Buhari and reduced it to $103.9bn is misleading.

Official data shows that the inherited debt stood at $108.29bn, not $113bn. While the current debt figure of approximately $103.93bn is accurate in dollar terms, the naira value has increased substantially.

Overall, both Omokri’s and Melaye’s claims are inconsistent with verified data from the Debt Management Office.


https://dailytrust.com/fact-check-tinubu-did-not-inherit-113bn-debt-as-reno-claimed/

So government is taking illegal loans, according to Reno. Someone should add it. Wonderfulment.

Richtaiwo:
What Dino Melaye and his ever-eager band of unintelligent clowns keep parroting is merely a rehash of the existing debt stock, inflated in naira terms due to the currency float rather than any substantive new borrowing.

You appear not to know the own goal you scored here ⚽

You are very intelligent.

mightyhaze:
With all the subsidy money is he not supposed to have paid off all debts in 3yrs plus?

Do you even know that under Buhari, there was a time the government was taken loans to pay for subsidy?

We were spending over 90% of our revenue on servicing debt too

If not for people like Reno, charlatan like obi would have deceived Nigerians ! Thank God for people like him in Nigeria !

The same Daily trust that lied. Why should we believe them

chukwutee:
If not for people like Reno, charlatan like obi would have deceived Nigerians ! Thank God for people like him in Nigeria !

Nor be you be Chuks13?

Hehehe 🤣😂 Yoruba man claiming igbo

Has Mexico accepted Reno?

iwaeda:
Has Mexico accepted Reno?

. Accept who? He no dey fear cartel? El chapo men mount. 😎😀😁

Reno is a man without honour, just mynding my business.