…Says debt figures inflated by exchange rate revaluation, Ways and Means securitisation
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The Federal Government on Monday dismissed claims that the President Bola Tinubu administration had borrowed about N80 trillion in the last three years, insisting that Nigeria’s current debt figures have been widely misrepresented due to accounting adjustments and exchange rate movements rather than fresh borrowing.
Taiwo Oyedele, the minister of finance and coordinating minister of the economy, made the clarification while briefing the Senate Committee on Finance on the state of the nation’s economy.
Responding to concerns raised by Adamu Aliero (Kebbi Central) over reports that the Tinubu administration had added about N80 trillion to the country’s debt stock on top of the N75 trillion it inherited, Oyedele said the figures being circulated were misleading.
