Mutfwang says Nigeria’s reserves exceed $50 billion
By the AFREEQUE newsroom, based on Daily Trust
Plateau State Governor Caleb Mutfwang says Bola Tinubu inherited a Nigeria in 2023 that could not service its external debt, with foreign reserves of just over $3 billion. At an APC rally in Jos, he said reserves now exceeded $50 billion and fuel was available, according to the Daily Trust.
The governor of Nigeria’s Plateau State, Caleb Mutfwang, says Nigeria’s foreign reserves now exceed $50 billion. He made the statement on Monday in Jos at the inauguration of the All Progressives Congress (APC) campaign council, according to the Daily Trust.
Mutfwang compared this figure with the reserves of just over $3 billion that he says were in place when President Bola Tinubu took office in 2023, against more than $40 billion accumulated over previous decades. He also argued that the country could not then service its external debt and that some international airlines had suspended flights because they could not repatriate their dollar revenues.
The governor defended the current availability of fuel, while acknowledging that it was not cheap. He also accused former President Muhammadu Buhari’s administration of having sold crude oil in advance, a debt that Nigeria is repaying today. Mutfwang called on APC supporters to mobilise their communities ahead of the 2027 elections.
At the same rally, Mutfwang predicted a Tinubu victory in the presidential election on 16 January 2027 and called on Plateau residents to renew his team’s mandate in the state two weeks later. He attributed the increase in reserves to the current administration’s actions, without detailing the data needed to distinguish the factors involved.
