By Ireti Asemota.
The African Democratic Congress (ADC) on Thursday blasted President Bola Tinubu’s administration over its new ₦1.15tn domestic borrowing approval, branding it “reckless debt buildup dressed in propaganda.” #NigeriaDebt #TinubuBorrowing
In a fiery statement from National Publicity Secretary Bolaji Abdullahi, the party fired the shot less than 24 hours after the Senate rubber-stamped Tinubu’s request to plug the final hole in the 2025 budget. #ADCvsAPC #Budget2025
The ADC called the move a slap in the face of Tinubu’s own claim that Nigeria smashed non-oil revenue targets, raking in ₦20.59tn in the first eight months of 2025. #RevenueVsDebt #FiscalHypocrisy
“The National Assembly just greenlit another ₦1.15tn loan while the President brags about record revenue. This is policy schizophrenia on steroids,” the party roared. #EconomicMismanagement #StopTheLoans
Warning that approving all 2025 loan requests could balloon public debt by ₦40.61tn to a jaw-dropping ₦193tn (DMO figures), the ADC demanded an immediate debt ceiling. #DebtTrap #193TrillionNightmare
“Nigerians aren’t feeling ‘statistical relief’—they’re choking on inflation and sky-high living costs,” the statement hammered. #CostOfLivingCrisis #EndEconomicSuffocation
The party urged civil society, global lenders, and citizens to force a freeze on non-essential borrowing, full 2025 revenue transparency, and a legally binding debt cap. #DemandAccountability #SaveThePurse
“Tinubu must stop the doublespeak: you can’t celebrate revenue highs while borrowing more than any government in history,” the ADC concluded. #TinubuComeClean #NoMoreLoans
Wednesday’s Senate nod—led by Senator Wamakko Magatarkada Aliyu’s committee—closed the ₦14.10tn deficit circle after ₦12.95tn was already cleared. Defenders like Senators Sani Musa, Adetokunbo Abiru, and Adams Oshiomhole insisted the cash is vital for stability and projects. #SenateApproval #DeficitFunding
But opposition voices and economists warn Tinubu’s borrowing binge risks pushing Nigeria’s debt to the breaking point. #UnsustainableDebt #EconomicWarning
