The African Democratic Congress (ADC) has criticised the administration of President Bola Tinubu over its fresh N1.15 trillion domestic borrowing approval, accusing it of reckless debt accumulation wrapped in propaganda.
This was contained in a statement by the party’s National Publicity Secretary, Bolaji Abdullahi, on Thursday in Abuja.
The statement comes barely 24 hours after the Senate approved Tinubu’s request to raise the fund from the domestic market to finance the remaining shortfall in the 2025 national budget.
According to the opposition, the borrowing contradicts Tinubu’s own claims that Nigeria had met and surpassed its non-oil revenue targets, reportedly generating N20.59 trillion in the first eight months of 2025.
“The latest approval by the National Assembly of N1.15 trillion in fresh domestic borrowing by the APC-led Federal Government exposes the contradictions and dangerous fiscal trajectory of President Bola Ahmed Tinubu’s administration.
“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 statement said.
It warned that if all of Tinubu’s loan requests for 2025 were approved, Nigeria’s total public debt could rise by N40.61 trillion to a staggering N193 trillion, citing verified figures from the Debt Management Office.
The ADC also lambasted the ruling party for deepening the debt crisis at a time when many Nigerians are struggling with inflation and rising living costs.
