Politics

Reno Omoki Clarifies: President Bola Tinubu Has Not Taken a $20.5 Billion Loan

Published by Tope Fakinlede on July 23rd, 2025.

Reno Omoki Clarifies: President Bola Tinubu Has Not Taken a $20.5 Billion Loan

To all Nigerians,

President Bola Ahmed Tinubu

Despite claims circulating online by the ADC and supporters of the Obidient movement, President Bola Tinubu has neither borrowed $20.5 billion nor received Senate approval to secure a loan of that magnitude.

These groups, along with the political figures and parties backing them, are known for spreading misinformation and twisting facts to create distrust against our government and country.

To clear any confusion: President Tinubu is not planning to borrow $21 billion. The Medium Term Expenditure Framework (MTEF) outlines borrowing limits for both the Federal and State Governments over the next three years.

This means the $20.5 billion figure represents the maximum combined borrowing capacity available to the Federal Government and all 36 states within that timeframe—not the amount they intend to borrow.

This figure is essentially a ceiling, only to be utilized if circumstances demand it. Actual borrowing is expected to be significantly less. For instance, while the MTEF permits large borrowings in 2025, only $1.23 billion will be drawn, shared between the federal and state governments across the country.

The MTEF details possible borrowing limits based on agreements with international creditors and in accordance with the Fiscal Responsibility Act of 2007 and the Debt Management Office Act of 2003.

Each loan under the Borrowing Rolling Plan is tied to specific projects, and actual borrowings are reflected in the Federal and State budget proposals.

Therefore, the alarming headlines and social media rumors about President Tinubu borrowing $20.5 billion are misleading and unfounded.

I encourage Nigerians to review the MTEF document and the 2025 Appropriation Act for accurate information.

President Bola Tinubu is a highly qualified accountant with a strong track record of managing finances efficiently, securing loans at favorable terms, and directing funds toward impactful initiatives.

With such expertise at the helm, Nigerians should anticipate a reduction—not an escalation—of our national debt.

Lastly, many opposition media outlets and influencers exploit the fact that many citizens may not read official documents carefully, making them vulnerable to manipulation through false information.

I urge everyone to seek out verified sources and carefully review official documents before drawing conclusions based on

sensationalized headlines.