Official Rejection of Debt Allegations
The Nigerian government has formally addressed and dismissed circulating reports alleging that the administration of President Bola Ahmed Tinubu accumulated a debt of ₦120 trillion within its first three years. The Presidency described these claims as entirely false and a deliberate attempt to misinform the public regarding the nation's fiscal management.
Clarifying Fiscal Responsibility
In a statement issued to clarify the administration's economic standing, government officials emphasized that the figures being circulated on social media platforms do not align with official records from the Debt Management Office (DMO). The Presidency reiterated its commitment to transparency and fiscal discipline, noting that:
- All government borrowing is conducted in accordance with the Fiscal Responsibility Act.
- Debt figures are subject to rigorous oversight by the National Assembly.
- Official debt data is regularly published by the Debt Management Office for public scrutiny.
Context of the Viral Claims
The viral narrative, which gained traction across various digital platforms, suggested an unprecedented surge in national debt under the current administration. However, economic analysts and government spokespersons have pointed out that such a massive increase is not supported by the country's budgetary frameworks or the actual borrowing plans approved by the legislature. The Presidency has urged citizens to rely on verified data from official government channels rather than unverified social media reports.
Conclusion
The Nigerian Presidency continues to maintain that its economic policies are focused on sustainable growth and the stabilization of the national economy. By debunking these claims, the administration aims to curb the spread of misinformation and ensure that public discourse regarding the nation's finances remains grounded in factual, verifiable data.
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