Senator Adeola Clarifies Misquote on $400 Billion Debt Under Buhari
Senator Solomon Adeola (APC, Ogun West), Chairman of the Senate Committee on Appropriations, has denied reports claiming he accused former President Muhammadu Buhari’s administration of borrowing $400 billion to stabilize the naira.
The clarification came after several newspapers and online blogs on Saturday, April 26, 2025, misquoted the senator’s remarks during a Town Hall Meeting and Mega Empowerment Programme in Ayetoro, Ogun State. Speaking mostly in Yoruba, Adeola defended President Bola Tinubu’s removal of fuel subsidy and the floating of the exchange rate, stating that without these policies, Nigeria’s economy would have collapsed.
He emphasized that past governments spent trillions of naira on fuel subsidies and defending the naira, benefiting only a few while increasing the national debt. However, his office clarified that he never specifically mentioned Buhari or cited a $400 billion debt, attributing the error to a mistranslation from Yoruba to English, possibly confusing “40” with “400.”
Adeola’s media adviser, Chief Kayode Odunaro, noted that many reporters relied on secondary sources rather than attending the event. The senator reiterated his respect for Buhari, acknowledging his efforts in managing Nigeria’s economy during his tenure.
