The African Democratic Congress (ADC) has accused President Bola Tinubu’s administration of reckless borrowing following the National Assembly’s approval of ₦1.15 trillion in fresh domestic debt to fund part of the 2025 budget deficit.
In a statement issued by the party’s National Publicity Secretary, Bolaji Abdullahi, the ADC said the move exposes “the contradictions and dangerous fiscal trajectory of President Bola Ahmed Tinubu’s administration.”
“The latest approval by the National Assembly of ₦1.15 trillion in fresh domestic borrowing by the APC-led Federal Government exposes the contradictions and dangerous fiscal trajectory of President Bola Tinubu’s administration,” the statement read.
Abdullahi reminded the public that “only a few months ago, the President himself declared that Nigeria had met and surpassed its non-oil revenue targets. Yet here we are again, watching this government take a contradictory and irresponsible detour from its own stated policy direction.”
The opposition party warned that if all of Tinubu’s borrowing requests for 2025 were approved, Nigeria’s total public debt could rise by ₦40.61 trillion to ₦193 trillion, citing verified figures from the Debt Management Office.
“A government that claims to have hit record-breaking revenue should not be borrowing. The APC-led government is suffering from a worsening case of economic policy schizophrenia, where the left hand borrows blindly while the right hand issues press statements about fiscal prudence,” the statement added.
The ADC also criticised the ruling party for worsening the debt crisis amid widespread hardship and inflation. “Make no mistake, Nigerians are not experiencing statistical relief — they are experiencing economic suffocation,” it said.
The party called for urgent fiscal discipline and transparency in public finance management. It urged civil society organisations, the international financial community, and citizens to demand a freeze on non-critical loans, full publication of all 2025 revenue inflows and disbursements, and the establishment of a legally binding debt ceiling to prevent further abuse of the national purse.
“President Tinubu must come clean to the Nigerian people. You cannot say revenue has improved and still insist on borrowing more than any administration in Nigeria’s history,” the statement concluded.
The Senate had on Wednesday approved Tinubu’s request to raise ₦1.15 trillion in domestic debt, completing the government’s deficit-financing plan for the 2025 fiscal year.
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