Yesterday, during his Democracy Day address, Peter Obi, ever the manipulator, used the Naira equivalent of our total public debt to deceive Nigerians and make it seem as though President Bola Tinubu had increased our debt. Actually, Peter Obi lied, and when he lies, he speaks his native language.
Yes, in Naira terms, our total public debt looks as if it has increased. That is because the flotation of the Naira by President Bola Tinubu and the withdrawal of the $1.5 billion used to subsidise the Naira monthly by the Buhari regime made the Naira drop from between ₦450 to ₦550 to $1, to about ₦1565 today.
However, when you quantify our total national debt in U.S. Dollars, which you can easily access on the website of the Debt Management Office, you will find that our debt has actually reduced from $108.2 billion on May 29, 2023, to $94.2 billion today. In Nigeria’s history, only two civilian governments have been able to reduce the nation’s indebtedness: the Obasanjo administration and now the Tinubu government.
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Peter Obi knows this. But he is a liar and manipulator, who counts on your ignorance of the fact to play Yahoo Plus on you.
The statement by Peter Obi that ‘this government has, within two years, borrowed far more money than the administrations of President Umaru Yar’Adua, President Goodluck Jonathan, and President Muhammadu Buhari combined’ is a lie in a long string of falsehoods attached to the name Peter Obi.
Reno Omokri
