The African Democratic Congress (ADC) has lashed out on the administration of President Bola Tinubu over its recent N1.15 trillion domestic borrowing approval, accusing it of reckless debt accumulation wrapped in propaganda.
This was contained in an announcement by the social gathering’s Nationwide Publicity Secretary, Bolaji Abdullahi, on Thursday in Abuja.
The event comes barely 24 hours after the Senate accepted Tinubu’s request to lift the fund from the domestic market to finance the remaining shortfall within the 2025 nationwide finances.
Based on the opposition, the borrowing contradicts Tinubu’s personal claims that Nigeria had met and surpassed its non-oil income targets, reportedly producing N20.59 trillion within the first eight months of 2025.
“The newest approval by the Nationwide Meeting of N1.15 trillion in recent domestic borrowing by the APC-led Federal Authorities exposes the contradictions and harmful fiscal trajectory of President Bola Ahmed Tinubu’s administration.
“Only some months in the past, the President himself declared that Nigeria had met and surpassed its non-oil income targets. But right here we’re once more, watching this authorities take a contradictory and irresponsible detour from its personal said coverage route,” the assertion stated.
It cautioned that if all of Tinubu’s loan requests for 2025 had been accepted, Nigeria’s complete public debt might rise by N40.61 trillion to a staggering N193 trillion, citing verified figures from the Debt Administration Workplace.
The ADC additionally blasted the ruling social gathering for deepening the debt disaster at a time when many Nigerians are scuffling with inflation and rising dwelling prices.
