The Debt Management Office (DMO) has declared that the real public debt as of June 30, 2023 after President Bola Ahmed Tinubu assumed the position in N87.38 billion.
The DMO discredited the reports of the recent media claimed that President Tinubu inherited N21 billion in public debt that has increased to N142 billion.
In a statement issued by DMO on Monday, the agency said that the real public debt as of June 30, 2023 after President Tinubu assumed the position in N87.38 billion.
In the declaration labeled: “Press replica: clarification of the inaccurate holder 'How Nigeria's debt increased from N21 billion to N142 billion under Tinubu', the DMO described the story as precise.
The agency said: “The Debt Management Office (DMO) wants inaccurate.
“In fact, the actions of the total public debt as of June 30, 2023, which was the first debt data published after President Bola Ahmed Tinubu assumed the position (on May 29, 2023); It was N87.38 billion, and not n21 billion as reported in the media.
“In addition, it should be taken into account that the total public debt published by the DMO includes the external and internal debt, not only of the Federal Government of Nigeria (FGG), but also of the thirty -six (36) Federal Capital and the Federal Capital Territory”.
This infers that President Tinubu inherited N87.38 billion debt, not n21 billion as reported in some media.