The African Democratic Congress (ADC) has accused President Bola Ahmed Tinubu’s administration of fiscal recklessness and policy inconsistency following the National Assembly’s approval of N1.15 trillion in new domestic borrowing.
In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC argued that the government’s continued borrowing contradicts Tinubu’s earlier claim that Nigeria had surpassed its non-oil revenue target, generating N20.59 trillion by August 2025.
The party warned that if all 2025 loan requests are approved, Nigeria’s total debt could rise to N193 trillion, citing data from the Debt Management Office (DMO) showing that as of June 30, 2025, the country’s debt stood at N152.4 trillion (N80.55 trillion domestic, N71.85 trillion external).
ADC described this trend as “reckless debt accumulation wrapped in propaganda,” criticizing the government for “borrowing against its own words.” The party further dismissed the administration’s claim that inflation had dropped to 18.02% (headline) and 16.87% (food), insisting that “Nigerians are not experiencing statistical relief — they are experiencing economic suffocation.”
ADC’s Demands:
The party called for:
- A freeze on non-critical loan approvals
- Publication of all 2025 revenue inflows and debt disbursements
- Independent verification of non-oil revenue claims
- A legally binding debt ceiling to curb excessive borrowing
Quote:
You cannot claim that your house is in order while taking new loans to stop the roof from collapsing,” the statement reads.
Context:
This marks the latest in a series of opposition criticisms aimed at the Tinubu administration’s economic policies, especially its handling of debt, inflation, and revenue claims.
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