The Nigerian presidency has addressed recent concerns regarding the country’s debt situation under President Bola Tinubu. Contrary to reports suggesting an increase in Nigeria’s debt, the presidency revealed that the nation’s debt stock actually fell by 15% in dollar terms during the first quarter of 2024.....KINDLY READ THE FULL STORY HERE▶
This clarification was provided by Dada Olusegun, Special Assistant to President Tinubu on Social Media, in response to a report by StatiSense comparing Nigeria’s debt profile across various administrations.
Olusegun emphasized that the perceived rise in public debt is primarily due to economic factors rather than an increase in new borrowing. He assured that the Tinubu administration is dedicated to reducing the nation’s debt and is committed to transparency and responsible economic management.
Key points from Olusegun’s statement on his X account, titled “Clearing Up Nigeria’s Debt Situation Under President Bola Tinubu,” include:
The presidency highlighted that understanding the full scope of Nigeria’s external debt offers crucial context and underscores the factors contributing to the rise in public debt while reaffirming the government’s commitment to effective debt management and transparency.
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