Former presidential aide Reno Omokri has taken a swipe at Labour Party chieftain and opposition coalition figure, Peter Obi, accusing him of spreading false information about Nigeria’s debt profile under President Bola Tinubu’s administration.
In a post shared on X (formerly Twitter), Omokri refuted Obi’s recent statement that President Tinubu has borrowed more than all former Presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari combined.
Describing Obi as a “manipulative trader whose lies can never make him a transformative leader,” Omokri asserted that Nigeria’s total debt has in fact declined since President Tinubu took office on May 29, 2023.
“On the issue of debt, Peter Obi blatantly lied,” Omokri wrote. “Nigeria’s debt has actually reduced from $108.2 billion on May 29, 2023, to $94.2 billion today.”
He explained that Obi used the current exchange rate of over N1500 to the dollar to convert the dollar-denominated debt into naira, creating the false impression of a sharp increase in the debt burden. Omokri added that while the naira value of the debt may appear to have grown — from N49.85 trillion in May 2023 to N144.67 trillion by the end of 2024 — this was due to exchange rate adjustments and not actual new borrowing.
“When you quantify our debt in dollars rather than naira, our total debt has actually reduced by over $14 billion,” he emphasized.
Omokri also warned that such misinformation could deter foreign investors and trigger panic among those already operating in Nigeria.
“Peter Obi’s lies have consequences that will affect the economy and your pocket,” he said. “His desperation to be President of Nigeria has made him careless with his words.”
He promised to appear on live television with what he called “irrefutable evidence” from the Debt Management Office to support his claims.
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