Senator Solomon Adeola, representing Ogun West Senatorial District, has denied reports that he claimed the administration of former President Muhammadu Buhari borrowed $400 billion to stabilize the naira.
Reacting through a statement issued on Monday by his Special Adviser on Media, Kayode Odunaro, Adeola said he was misquoted during a town hall meeting with constituents held on Saturday in Ayetoro, Ogun State.
The senator explained that his remarks, delivered in Yoruba, were incorrectly translated by some media outlets. He emphasized that he did not accuse the Buhari administration of incurring a $400 billion debt.
“The previous administrations had spent trillions of naira on fuel subsidy and on defending the naira against the dollar, benefitting only a small fraction of Nigerians while the nation’s debt burden grew,” Adeola clarified. “At no point did I mention former President Buhari by name or attribute a specific debt figure of $400 billion to his administration.”
The statement noted that the misreporting likely resulted from translation errors, adding that many of the journalists who published the story were not present at the town hall meeting.
Adeola reiterated his respect for former President Buhari, acknowledging his efforts in managing the economy under difficult circumstances. He also affirmed his support for the removal of fuel subsidies and the floating of the exchange rate under President Bola Tinubu, describing them as necessary measures to avert economic collapse.
