The Debt Management Office (DMO) has offered clarification that President Bola Tinubu inherited a total of N87.38 trillion in public debt upon assuming office on May 29, 2023.
This clarification is in contrast to media claims that he inherited N21 trillion, which then supposedly increased to N142 trillion.
In a statement issued in Abuja, the DMO said that as of June 30, 2023, the actual total public debt stood at N87.38 trillion.
This figure according to the Statement includes both external and domestic debts, covering the Federal Government of Nigeria (FGN), the 36 states, and the Federal Capital Territory (FCT).
The statement stressed that the reported N21 trillion figure was misleading, urging the public to rely on verified data from official sources to avoid spreading misinformation, particularly on crucial topics like public debt.
It highlighted that the total public debt, published by the DMO, encompasses the combined debts of the federal government and subnational governments, not just the federal government’s debt alone.
