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₦80 Trillion Tinubu Borrowing Is Not Nominal, But a Result of Naira Devaluation - Alaje

The naira has always been susceptible to devaluation. The Tinubu administration has taken on new borrowings, albeit not up to the quoted ₦80 trillion. However, it is important to state that unlike accountants who look at book value, economists consider both implicit and explicit value. When adjustments for the exchange rate are factored in, Nigeria’s borrowing reaches the quoted amount, even though it does not in nominal terms.

Paul Alaje, Chief Economist, SPM Professionals

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