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Nigeria’s Debt Crisis: ADC to Speaker Abbas: Don’t Deny the Truth

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By Our Correspondent

The African Democratic Congress (ADC) has reacted to the recent remarks and subsequent retraction by the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, over Nigeria’s rising debt profile, describing his backpedalling as a missed opportunity for courageous leadership.

In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party said the Speaker’s initial admission that the country’s debt has crossed critical levels was a rare moment of honesty from within the ruling party, but lamented that his quick withdrawal reflects the growing culture of political cowardice and legislative complicity.

The ADC warned that, with unchecked borrowing and a National Assembly it called “the most compliant in recent history,” Nigeria’s future is being dangerously mortgaged with the full complicity of this National Assembly.

The full statement read:”The African Democratic Congress (ADC) had received with cautious optimism the recent remarks credited to the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, regarding Nigeria’s ballooning debt. The Speaker’s admission that the country’s debt-to-GDP ratio has not only crossed the statutory threshold, but now stands at a staggering 52 percent, was not only a rare moment of honesty but a validation of what the ADC and many patriotic Nigerians have long warned against: this government is mortgaging our future.

“However, our optimism was short-lived by the Speaker’s sudden recant of a rare demonstration of candour by a leader of the ruling party. Like a flame in the wind, the Speaker’s statement offered a momentary flicker of the truth, only to be quickly doused by political expediency. Rather than standing by his remarks and on the side of the people, the lawmaker chose to play safe and be politically correct. This, to us, is not only disappointing but troubling. If those in power cannot summon the courage to stand by the truth, even when it screams all around them, how can we expect them to act in the interest of the people?

“Before proceeding on his vacation to Europe, President Bola Tinubu, just days ago, assured Nigerians that the era of borrowing was over. He claimed that revenue projections had been met and the nation would henceforth live within its means. But, in less than a week, this same government announced a fresh plan to borrow 1.75 billion dollars from the World Bank. It is against this backdrop of contradictions that the Speaker’s initial statement carried weight, and it is why his withdrawal rings louder than his words.

“What has stood out in the entire saga of unprecedented debt accumulation is the complicity of the 10th National Assembly, which, by every indication, has become the most compliant legislature in our recent history. The principle of checks and balances was not included in our Constitution for decoration, it exists to protect Nigerians from precisely this kind of unrestrained executive overreach. Yet today, what we witness is not legislative oversight, but legislative complicity. The National Assembly, instead of being a bulwark against excess, has become a conveyor belt for executive wishes.”

The party further added,”We wish to remind the Speaker and the APC-led administration that Nigeria’s debt crisis is not an abstract economic theory. It is a lived reality. Every naira borrowed without accountability translates into a child out of school and a hospital patient without care. The Speaker was right the first time — our debt is out of control, and our children’s future is being written in red ink.

“The ADC believes that Nigeria must return to a path of fiscal discipline, transparency, and responsible governance. Our party will continue to demand full public disclosure and parliamentary debate before any new borrowing is undertaken, measurable benchmarks for how loans are spent, and a long-term plan to reduce debt dependency through domestic resource mobilization and job creation.

“Let the record reflect that, when the opportunity came to speak truth to power, some chose silence, some chose survival, but the ADC chose to stand with the Nigerian people.”

Politics

APC withdraws petition challenging Gov.Adeleke’s Victory

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Gov Ademola Adeleke of Osun state

By Our Correspondent

In dramatic twice the All Progressives Congress (APC) has filed an application seeking to withdraw the petition challenging the victory of Governor Ademola Adeleke.

The withdrawal came amid conflicting positions within the party’s legal team over whether the
APC had authorised the petition challenging the outcome of the August 15 governorship election.

Daily Champion reports that the APC, and the Peoples Democratic Party, PDP, challenged the outcome of the August 15, 2026, Osun Gubernatorial elections.

The APC’s petition, marked EPT/OS/GOV/01/2026, which was filed by its governorship candidate, Bola Oyebamiji, listed Adeleke, the Accord, and the Independent National Electoral Commission, INEC, as respondents in the petition challenging the election outcome.

Meanwhile, a Notice of Motion to Withdraw Petition dated September 8, 2026, filed by a counsel for APC, Barrister Oluseyi Oyagbile, before the Osun State Governorship Election Petition Tribunal, indicated the petitioners’ decision to discontinue the case.

The document seeks an order of the tribunal permitting the petitioners to withdraw the election petition.

However, an APC legal team led by Abiodun Layonu, SAN, had earlier disowned the petition, insisting that the party and its candidate had decided not to challenge Adeleke’s victory at the tribunal.

Also, the APC campaign council distanced itself from reports claiming that its governorship candidate, Oyebamiji (AMBO), filed a petition challenging the outcome of the August 15, 2026 governorship election at the Election Petition Tribunal.

A statement made available by the campaign spokesperson, said, “We state categorically that neither the All Progressives Congress ( APC) nor its governorship candidate, Asiwaju Munirudeen Bola Oyebamiji (AMBO) filed any petition at the tribunal challenging the outcome of the August 15 governorship election.

“The purported claim is therefore completely untrue and should be regarded as nothing more than a rumour being circulated by individuals seeking to mislead members of the public and create unnecessary tension.

“We urge members of the public, supporters of our great party and the media to discountenance the claim and refrain from giving credibility to unverified information designed to cause confusion.

“The APC and Asiwaju Munirudeen Bola Oyebamiji remain committed to lawful and democratic processes and will continue to act responsibly in the interest of peace, stability and the good people of Osun State.

“We urge the public to rely only on official statements from the APC and the Campaign Council on matters concerning the party, its candidate and the outcome of the August 15 governorship election.”

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APC chieftain demands probe, prosecution of Atiku over $40M, SIEMENS, SPV allegations

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By Our Correspondent

A chieftain of the All Progressives Congress (APC), Ntufam Hilliard Eta, has called on the nation’s anti-corruption agencies to fully investigate allegations and petitions against former Vice-President Atiku Abubakar and prosecute him if evidence establishes any criminal offence.
Addressing journalists in Abuja on Tuesday at the APC National Secretariat, Eta said the call was driven by the principle of accountability, not political considerations.
He stressed that public office must never become a shield against scrutiny and that political ambition should not stop institutions from acting on credible allegations.
The APC chieftain said he was not asking for a conviction in the court of public opinion, but that the evidence be subjected to the process of court of law. “That distinction is fundamental,” he stated.
Eta referenced a petition reportedly received by the EFCC on September 1, 2026, calling for the reopening of financial-crime allegations against Atiku dating back to investigations conducted around 2005-2006.
He also cited renewed discussions around a 2010 United States Senate report on suspicious financial transactions.
Eta noted that while the report was not a criminal conviction, the allegations contained in it were serious enough to warrant examination by Nigerian authorities.
According to him, the first set of allegations concern the movement of more than US$40 million in suspect funds into the United States between 2000 and 2008 through offshore corporations linked to Jennifer Douglas, Atiku’s wife. The Senate report said about US$25 million was transferred into U.S. accounts opened by Douglas.
The second allegation concerns payments connected to Siemens AG. Eta said the Senate report stated that Douglas received at least US$1.7 million in alleged bribe payments, while an SEC civil complaint alleged US$2.8 million in bribe payments from Siemens.
He stressed that these were allegations contained in historical records, not convictions.
Third, Eta mentioned questions over approximately US$14 million transferred by offshore corporations to American University for consulting services related to the university’s establishment in Nigeria, as examined in the Senate report.
He also listed allegations of the use of Special Purpose Vehicles, SPVs, to divert public funds during Atiku’s tenure as Vice-President from 1999 to 2007. These resurfaced in 2023 following claims by Michael Achimugu and a petition by Festus Keyamo to the EFCC, ICPC and CCB.
Other allegations, he said, border on money laundering, criminal breach of trust, criminal misappropriation, conspiracy and possible violations of the Code of Conduct, as well as questions concerning accounts associated with Marine Float and other companies.
Eta argued that allowing allegations of this magnitude to become mere political ammunition during an election season is dangerous and he said the same standard of accountability must apply to government and opposition figures alike.
He therefore called on the EFCC and other competent authorities to examine every credible petition, obtain relevant records, invite appropriate persons and “follow the money” without fear or favour.
“A serious democracy asks: Was a crime committed? Is there admissible evidence? If yes, prosecution should follow. If no, the matter should be closed,” Eta said, adding, “No sacred cows. No political immunity. No selective justice. Just evidence, due process and the law.”

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Nigerian Politics Becoming Less Violent, Says Gov Diri As CBM Holds Bayelsa Retreat

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By David Owei

Governor of Bayelsa State, Senator Douye Diri, has observed that the political arena in Nigeria was shifting from violence and intimidation to knowledge-based politics.

Speaking during the State Working Committee Retreat of the City Boy Movement (CBM) in Yenagoa, Governor Diri lauded the socio-political group for leading the paradigm shift, insisting that politics should never be about violence.

He noted that while the CBM had been vocal about the re-election of President Bola Tinubu in next year’s election, he urged its members to work with the structures of the All Progressives Congress (APC) in the state and at the national level.

The Bayelsa governor described the movement as strategic and advised it to go beyond social media advocacy to grassroots mobilisation.

Explaining why he pitched tents with the APC, Diri recalled how President Tinubu supported the state’s development by approving the construction of the second phase of the Nembe-Brass road and that he also granted waivers for the state’s imported gas turbines, stressing that the President deserved the support of the people of Bayelsa.

He also restated his position on a restructured Nigeria, saying democracy thrives only when there was justice and fairness, and that given his antecedence, Tinubu was the right man to restructure Nigeria.

His words: “The use of guns and intimidation is giving way to knowledge-based electoral process and I commend the City Boy Movement for this. We are not animals and we do not need to be flogged before we move. I am happy that gradually our politics is changing for the better.

“All of the various support groups must know that the party structure is the number one structure and I am happy that the City Boy Movement is working with the party.

“In this state, APC is a no-go area. Our chances of winning the 2027 election is very high.

“This is one good thing I have seen that a youth group coming together to strategise for an election. We all want our President to come back but it wild not happen by chance. We all have to play our roles not just on social media but at the grassroots. It is our duty to go from door to door.

“President Tinubu has supported the development of Bayelsa State and deserves the support of the people. He responded swiftly to the request for the second phase of the Nembe-Brass road and also gave us waivers for the gas turbines.

“I am an advocate of restructuring and President Tinubu is doing things that people had not succeeded in doing such as state policing. For us in Bayelsa, we want to control our resources and pay tax to the centre and I believe that if we must acheive that, this President is one we must follow. We have seen a President who is stable and capable. Let us allow him to complete his second term.”

In his remarks, Bayelsa State APC chairman, Hon. Warman Ogoriba, thanked Governor Diri for his support to the party, saying the APC decided to be strategic rather than joining issues with people or other parties.

Ogoriba said the APC parades the best candidates and that the party will mobilise to ensure victory for them in the 2027 elections.

In a welcome address, Bayelsa State Director of the City Boy Movement, High Chief Osomkime Blankson, said the retreat was to strategise for the re-election of President Tinubu as he deserved a second term by reason of his performance and achievements.

He expressed appreciation to the governor for his supportive leadership and commitment to peace and development of the state.

Also, the Director-General of the City Boy Movement, Mr. Francis Shoga, described Tinubu as a courageous leader who has taken painful but beneficial decisions and that the movement would take the achievements of his administration to the grassroots.

He thanked the people of Bayelsa for their support, expressing optimism that the state would contribute significantly to the potential 10 million youth votes of the movement for Tinubu.

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