The Federal Government has dismissed claims that the President Bola Tinubu administration borrowed about ₦80 trillion in three years, describing the figures as exaggerated and based on accounting adjustments rather than fresh loans.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made the clarification while briefing the Senate Committee on Finance on the state of the nation’s economy.
Responding to concerns raised by lawmakers, Oyedele said reports suggesting the administration borrowed ₦80 trillion in addition to the ₦75 trillion debt it inherited do not accurately reflect the actual level of new borrowing, stressing that the figures circulating in some sections of the media are misleading.
