Abuja, Nigeria | September 9, 2025 — Former presidential aide and socio-political commentator, Reno Omokri, has stated that President Bola Ahmed Tinubu’s administration has successfully reduced Nigeria’s debt profile by $16 billion within its first year in office.
Omokri, who made the claim on Tuesday via his official social media handle, argued that the reduction reflects Tinubu’s commitment to fiscal discipline and economic restructuring despite mounting criticisms of his administration. According to him, the debt cut marks a sharp departure from what he described as years of unsustainable borrowing under past governments.
The outspoken commentator noted that while inflation and the cost of living remain pressing challenges, the reduction in external debt signals a positive outlook for Nigeria’s financial stability. He urged Nigerians to acknowledge the progress, stressing that debt sustainability is key to restoring investor confidence and strengthening the naira.
However, financial analysts have called for caution, pointing out that the country still faces huge fiscal pressures, including dwindling oil revenues, subsidy removal shocks, and rising unemployment. They argue that while a $16 billion debt reduction is commendable, it must be matched with improved domestic revenue generation, economic diversification, and accountability in public spending.
The Debt Management Office (DMO) has yet to officially confirm Omokri’s claim, though recent figures released earlier this year showed Nigeria’s total public debt standing at over $111 billion.