₦airaland Forum

Fact-Check: How @Daily_Trust Lied About Nigeria's Debt Profile Under Tinubu

Dear Daily Trust,

Thank you for your feedback. However, your fact-check is not based on facts. Although I am still grateful that you admit that Nigeria's debt has reduced under President Tinubu from what was inherited from General Buhari:

The figure of $108.29 billion, which you quoted as the total debt figure inherited from General Buhari by President Tinubu was accurate only up to March 31, 2023, because the debt data is reported quarterly by the DMO. The $108.29 billion was NOT what President Tinubu inherited from General Buhari.

Those figures did not take into account loans borrowed by the Buhari administration in the second quarter of 2023, which ended in June, which included the Ways and Means debt that was not discovered until after General Buhari handed over to President Tinubu.

As of June 2023, the total debt figure inherited from the Buhari administration had climbed to $113 billion.

You may want to read a more accurate fact-checking from Dubawa, an independent verification and fact-checking project published by the Centre for Journalism Innovation and Development (CJID) here dubawa.org/comparative-an…

According to Dubawa, which also quoted from the Debt Management Office:

"In the second quarter, which marks the beginning of President Bola Tinubu’s administration, the total debt was ₦87 trillion ($113 billion). The total external debt stock was ₦33 trillion ($43 billion). The federal government’s external debt was ₦29 trillion ($38 billion), while the external debt stock of States and FCT totalled ₦3 trillion ($4 billion)."

I do note your anti-Tinubu stance; however, please verify this and take down this misleading and dishonest headline. No further steps, legal or otherwise, will be taken.

Thanks again, and may God bless 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.

Source

Daily trust should always Check thier facts when it comes to Reno!!!

Mmmmmmm. Nawaooo. Daily Trust vs Reno! Who wins?

This guy don resume work, una no tell me

Bro got no atom of shame

Amb Reno Omokri, stomach infrastructural development.

i thought this goof is an ambassador

Reno trying to cover Tinubu mess everyday but it’s not working

Reno omokri is really trying to justify his ambassador designate job

Reno should also do well by fact checking his own comments before asking someone to do the same.

In 2020, Omokri claimed that former President Goodluck Jonathan met a total national debt of N7.9 trillion in 2010 and only borrowed N4.7 trillion during his tenure.

Fact-check verdict: False. Official Debt Management Office (DMO) figures showed the debt at the end of 2010 was around N5.23 trillion, not N7.9 trillion. His borrowing figure was also contested.

Lol! Official government spokesperson 😂

So how much the debt con be now , Reno . Tinubu's spokesperson

This guy instead of him to resume in Mexico he wants to drag Bayo Onanuga seat ..so he can be flying around the globe with Mr President. I won't be surprised if the Mexico Government rejects him for his own safety. I don't know when he became a Government spokesman.

President Bola Tinubu’s administration has actively cleared significant legacy debts, including finishing repayment of the $3.4 billion IMF Rapid Financing Instrument by May 2025 and approving the cancellation of ₦5.57 trillion in NNPC legacy debts. The government also paid ₦4.5 trillion in Ways and Means advances in 2024.

Key Debt Repayments and Reductions (2023–2026):

IMF Debt: Nigeria cleared its remaining legacy IMF debt, which was $472 million in July 2024 and fully paid by May 2025.

NNPC Debt: A total of ₦5.57 trillion and $1.42 billion in debts owed by the Nigerian National Petroleum Company Limited (NNPC) to the federation account was canceled/cleared.

Ways and Means: The federal government paid off ₦4.5 trillion of the outstanding Ways and Means loans.

Power Sector Debt: Over ₦501 billion was disbursed in January 2026 to settle arrears owed to gas producers and electricity generation companies (GenCos), according to Instagram post by nationalgridng.

External Debt Reduction: Nigeria's external debt decreased from $113.42 billion in 2023 to $94.22 billion by the end of 2024,

Reno oMockery is a shameless liar.

An example of how-not to be a father.

Wendell Simlin twisting facts as usual.. na in way
.

Someone claimed Tinubu cleared some legacy debt but still collected more loans afterwards!
That's like paying off a debt of 50k and still collecting a loan of 400k!

Reno is such an asset………..

Because his rebuttals are ALWAYS based on FACTS!

joandavidleonha:
Fact-Check: How @Daily_Trust Lied About Nigeria's Debt Profile Under Tinubu




Source

you see the problem with Africans and I said Africans it’s that they love self loathing and by default this gave rise to a glutinous urge , munchies , savage desire for wealth and status it’s inherent in us as blacks that includes me ..you can’t fight fate right? But you can control how this anomaly controls you.. I found the hack hence I can never not even remotely be like some people but be better than them ..

Reno doing what he is being paid for obsfucation of facts

Brai*l*ss Reno.

Did they spend the money in dollar

You people are busy celebrating that Tinubu is giving governors more money in Naira than previous admins, whereas if u convert to dollar, its actually less money.

So you chose the currency that favours your narrative.

Wait ooo is there any difference between Apc under Buhari and Apc under Tulumbu ?

Are they trying to say that Buhari government mismanaged Nigeria money and Tulumbu’s government is rescuing it ?

lol , is it not this same Tulumbu that said before Buhari during one of his campaign

“You’ve done incredibly well and I’ll continue from where you stopped “

More over why try to paint Buhari government bad because he’s dead now….this same Tulumbu said Nigerians should hold him responsible if Apc fails during Buhari campaign…,did Apc not fail during Buhari tenure or not ?

What I expect Apc to be doing is measuring their performance from Buhari tenure till now and not painting Buhari government as bad while Tulumbu government is worse than Buhari’s

Guestmale:
External Debt Reduction: Nigeria's external debt decreased from $113.42 billion in 2023 to $94.22 billion by the end of 2024,

You mean public debt decreased from $113.42 billion in 2023 to $94.22 billion by the end of 2024.

As of late 2025, Nigeria's external debt is approximately $48.5 billion USD, according to CEIC data. This debt, owed to international creditors like the World Bank and IMF, has risen from around $43.2 billion in mid-2023, driven by continued borrowing to fund government deficits.

Key facts about Nigeria's external debt:
Total Amount: The external debt reached a high of $48.5 billion in September 2025.
Total Debt Context: While external debt is significant, it forms part of a larger total public debt (including domestic debt) that exceeds $100 billion.
Composition: Debt is owed to multilateral institutions (World Bank, IMF, AfDB) and bilateral creditors.
Recent Developments: Nigeria recently completed the repayment of a $3.4 billion IMF loan from 2020, but continues to face significant debt servicing costs.

https://www.ceicdata.com/en/indicator/nigeria/external-debt#:~:text=Nigeria%20External%20Debt%20reached%2048.5,USD%20bn%20in%20Mar%202007.

Isn't he an ambassador? What a great ambassador of mathematics. I once wrote a comment about his bad maths before he became an ambassador and it was hidden. I know Reno has an influence on Nairaland but for Seun, you need to make sure they don't use your Nairaland as media space for their campaign.

Dear Nigerians,

Is it just cowardice or that Nigerians are very passive people ?

In a sane clime Reno Omokri should at least be in Jail or be on the row for a firi*g squad.

Imagine someone who is an Identity impersonator, a person who blantantly lied on his social media handle about owning a house and car that were not his.

A two (2) faced hypocrite and also an absentee father to an innocent autistic child.

PBAT will go down in the history books as the greatest leader to magnify criminals and no-do-wells in his Administration giving this "thing" an opportunity to spew anything but sense all over SM.

It's expected from the evil towncrier of tinubu regime. Reno Omockery keep making mockery of himself each time he opens his deceit mouth.....

I wonder how people who employed you feel each time you spill those rubbish

The Cartels should do the needful when the opportunity arises

Wud he be defending the president if he wasn't in its employ. People shudnt take this thing personal for the sake of their mental health. The guy is just doing his dirty and filthy job. Good luck to him

bentenny:
Someone claimed Tinubu cleared some legacy debt but still collected more loans afterwards!
That's like paying off a debt of 50k and still collecting a loan of 400k!

Monthly allocations from the Federation Account Allocation Committee (FAAC) to Nigerian states have increased significantly. Total disbursements surged by approximately 30% in 2025 compared to 2024. States received over ₦6.73 trillion in the first 11 months of 2025, with monthly disbursements frequently exceeding ₦500 billion and rising, with a 7.18% increase noted in early 2026.

Key details regarding the increased allocations include:
Massive Growth: State allocations jumped from ₦3.58 trillion in 2023 to ₦5.81 trillion in 2024, representing a 62% increase, and continued upward in 2025.

2025 Monthly Trend: Monthly allocations to states reached peaks, such as ₦727 billion in September 2025, from lower figures earlier in the year.

2026 Outlook: January 2026 saw a net allocation of ₦703.26 billion to states, driven by higher oil prices and revenue initiatives.
Drivers: The increase is attributed to improved revenue, including higher oil prices, VAT growth, and exchange rate gains, particularly after the removal of fuel subsidies.

By Businessday NG

sulaak:
You mean public debt decreased from $113.42 billion in 2023 to $94.22 billion by the end of 2024.



https://www.ceicdata.com/en/indicator/nigeria/external-debt#:~:text=Nigeria%20External%20Debt%20reached%2048.5,USD%20bn%20in%20Mar%202007.

Monthly allocations from the Federation Account Allocation Committee (FAAC) to Nigerian states have increased significantly. Total disbursements surged by approximately 30% in 2025 compared to 2024. States received over ₦6.73 trillion in the first 11 months of 2025, with monthly disbursements frequently exceeding ₦500 billion and rising, with a 7.18% increase noted in early 2026.

Key details regarding the increased allocations include:
Massive Growth: State allocations jumped from ₦3.58 trillion in 2023 to ₦5.81 trillion in 2024, representing a 62% increase, and continued upward in 2025.

2025 Monthly Trend: Monthly allocations to states reached peaks, such as ₦727 billion in September 2025, from lower figures earlier in the year.

2026 Outlook: January 2026 saw a net allocation of ₦703.26 billion to states, driven by higher oil prices and revenue initiatives.
Drivers: The increase is attributed to improved revenue, including higher oil prices, VAT growth, and exchange rate gains, particularly after the removal of fuel subsidies.

By Businessday NG

reno is a spine master and a fraud.

Eddc is more stable than reno.