Former presidential aide Reno Omokri has strongly criticized Labour Party figure Peter Obi over recent remarks concerning Nigeria’s debt profile under President Bola Tinubu’s administration.
In a post on his verified X account, Omokri challenged Obi’s claim that President Tinubu has borrowed more than all previous Nigerian presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, and Muhammadu Buhari combined.
He described Obi as a “manipulative trader,” arguing that such claims undermine Obi’s credibility as a potential leader.
Omokri maintained that, contrary to Obi’s statements, Nigeria’s total debt has actually decreased from $108.2 billion in May 2023, when President Tinubu assumed office, to $94.2 billion at present.
He explained that Obi’s figures were based on converting the national debt into Naira using the current exchange rate of ₦1,560 to $1, which, according to Omokri, distorts the reality of the debt situation.
“In Naira terms, total debt rose from ₦49.85 trillion to ₦144.67 trillion by the end of 2024, but this is largely due to currency devaluation, not excessive borrowing,” Omokri stated.
“Measured in dollars, Nigeria’s debt has actually declined by more than $14 billion.”
Omokri announced his intention to appear on live television with data from the Debt Management Office (DMO) to support his position and challenge Obi’s assertions directly.
He also expressed concern that such statements could have serious economic consequences, particularly for investor confidence.
“Peter Obi’s misleading remarks could discourage investment, prompt capital flight, and negatively impact ordinary Nigerians,” Omokri said.
“His pursuit of the presidency should not come at the expense of economic stability.”
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