The Debt Management Office (DMO) has clarified that President Bola Tinubu inherited a total public debt of N87.38 trillion, not N21 trillion as recently reported.

In a statement issued on January 28, 2025, the DMO sought to correct misinformation regarding Nigeria's debt following Tinubu’s assumption of office on May 29, 2023. The official debt figure as of June 30, 2023, stood at N87.38 trillion, which includes both external and domestic debt from the Federal Government of Nigeria (FGN), the 36 states, and the Federal Capital Territory (FCT).

The DMO refuted claims that the public debt figure had risen from N21 trillion to N142 trillion under the current administration. It emphasized the importance of relying on verified official data to avoid the spread of misinformation, especially on critical topics like public debt.

"The Total Public Debt Stock as of June 30, 2023, was N87.38 trillion, and not N21 trillion, as erroneously reported in the media," the statement read.

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