The African Democratic Congress (ADC) has slammed President Bola Tinubu’s administration over the recent approval of ₦1.15 trillion in domestic borrowing, accusing the government of reckless debt accumulation and economic hypocrisy.
In a statement signed by National Publicity Secretary Bolaji Abdullahi on Thursday, November 13, the party said the borrowing contradicts Tinubu’s earlier claims that Nigeria had hit record non-oil revenue targets.
“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 Ahmed Tinubu’s administration,” the ADC said.
Abdullahi highlighted the administration’s inconsistency, noting that just months ago the government celebrated generating ₦20.59 trillion in non-oil revenue in the first eight months of 2025 and promised to phase out domestic borrowing.
“Yet here we are again, watching this government take a contradictory and irresponsible detour from its own stated policy direction,” the statement added.
The party warned that if all of Tinubu’s 2025 loan requests are approved, Nigeria’s total debt could surge to ₦193 trillion, a jump from the current ₦152.4 trillion.
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“Let it be clearly stated: this is reckless debt accumulation wrapped in propaganda,” the ADC said.
Pointing to everyday Nigerians, the party said rising inflation shows the government’s claims of relief are misleading.
“These loans are being pushed through by the APC-dominated National Assembly while everyday Nigerians are suffering from the rising cost of living.
“Make no mistake, Nigerians are not experiencing statistical relief — they are experiencing economic suffocation,” Abdullahi stated.
The ADC called on Tinubu to take immediate action, urging: “First, an immediate freeze on non-critical new loan approvals. Second, a full publication of all revenue inflows and debt disbursements for 2025.
“Third, an independent verification of non-oil revenue claims. Fourth, a legally binding debt ceiling to prevent this abuse of the national purse.”
“Nigerians are watching as our collective future is being mortgaged. And the President must be reminded: we cannot borrow our way out of a crisis fuelled by economic incompetence,” the statement concluded.