The Debt Management Office (DMO) has clarified that President Bola Tinubu inherited a total public debt of N87.38 trillion upon assuming office on May 29, 2023. The statement was issued by the DMO on Monday to address recent media reports claiming that the debt stood at N21 trillion and had risen to N142 trillion.
The DMO explained that the N87.38 trillion figure, as of June 30, 2023, includes both external and domestic debt of the Federal Government, the 36 states, and the Federal Capital Territory (FCT). This clarification comes amid growing confusion surrounding the actual state of the nation’s debt.
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The agency urged the public and media to rely on verified data from official sources to prevent the spread of misinformation, particularly on sensitive issues such as national debt.
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