Sh*cking Revelation: Buhari’s ₦28 Trillion Borrowing Spree Was To Artificially Boost Naira – Omokri

Omokri argued that President Bola Tinubu has begun reversing the economic “illusion” left behind by Buhari and is steering the country towards a more sustainable future.....KINDLY READ THE FULL STORY HERE▶

Speaking on Channels Television, Omokri said, “We were living in a fool’s paradise. Tinubu has dismantled that illusion, and we are now living within our financial reality.”

He criticized the Buhari administration’s borrowing practices, questioning the rationale behind taking on massive debt to sustain what he called an “artificial lifestyle” for citizens.

“Why continue borrowing just to maintain a false sense of prosperity? Under Buhari, loans were excessive,” he said.

Omokri alleged that former Central Bank Governor Godwin Emefiele, who is currently under trial, secured ₦28 trillion in loans without approval from the National Assembly — funds allegedly used to prop up the naira artificially.

“We can’t keep borrowing just to provide food. We must focus on production. That’s what’s happening now — exports are rising while imports decline,” he added.

Addressing concerns about declining living standards, Omokri acknowledged the current hardships but emphasized that the shift from debt-driven economics is a necessary reform.

“Many feel things are worse, but we must understand that everything Tinubu is doing now aligns with the policies both Peter Obi and Atiku Abubakar proposed,” he noted.

On Nigeria’s debt profile, Omokri claimed there has been tangible progress under the Tinubu administration.

“In 2015, Nigeria’s debt stood at $63 billion. When Buhari left office, it had ballooned to $113 billion. Now under Tinubu, it has dropped to $97 billion — that’s a $14 billion reduction. This deserves acknowledgment,” he concluded.