The federal government on Monday dismissed claims that the President Bola Tinubu administration has borrowed about ₦80 trillion in the last three years, describing the figure as exaggerated and a product of accounting adjustments and inaccurate public reporting.
Minister of Finance and Coordinating Minister for the Economy, Mr Taiwo Oyedele, made the clarification in his submissions on the state of the nation's economy to the Senate Committee on Finance.
Responding to a question asked by Senator Adamu Aliero (Kebbi Central) on the alleged ₦80 trillion debt profile incurred by the present administration in addition to the ₦75 trillion inherited, the Finance Minister said the President Bola Ahmed Tinubu-led government did not borrow anywhere near the quoted figure.
