By Our Correspondent <\/p>\n
The African Democratic Congress (ADC) has condemned the Federal Government\u2019s fresh approval of N1.15 trillion in domestic borrowing, accusing President Bola Ahmed Tinubu of policy inconsistency and fiscal recklessness. In a statement signed by the party\u2019s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC noted that despite Tinubu\u2019s public claim that Nigeria had met its non-oil revenue targets\u2014reportedly N20.59 trillion by August 2025\u2014the administration continues to deepen the country\u2019s debt crisis. <\/p>\n
Citing a report that Nigeria\u2019s total public debt could rise to N193 trillion if all of Tinubu\u2019s 2025 loan requests are approved, the party said the government was \u201cborrowing against its own words\u201d and failing to deliver meaningful relief to Nigerians still burdened by inflation and rising living costs.<\/p>\n
The full statement read:<\/p>\n
“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\u2019s administration.<\/p>\n
“Only a few months ago, the President himself declared that Nigeria had met and surpassed its non-oil revenue targets, generating N20.59 trillion in just the first eight months of 2025, a figure his media handlers and cabinet officials paraded as proof of sound economic management. Not long before that, the administration also promised Nigerians that domestic borrowing would be phased out, and that revenue growth would reduce the need to mortgage the nation\u2019s future.<\/p>\n
“Yet here we are again, watching this government take a contradictory and irresponsible detour from its own stated policy direction.<\/p>\n
“As recently reported, if all of President Tinubu\u2019s loan requests for 2025 are approved and disbursed, Nigeria\u2019s total public debt could increase by N40.61 trillion, bringing the national debt stock to a staggering N193 trillion. This projection, based on verified figures from the Debt Management Office, reveals that as of June 30, 2025, Nigeria’s debt already stood at N152.4 trillion, with N80.55 trillion in domestic debt and N71.85 trillion in external liabilities.
\nLet it be clearly stated: this is reckless debt accumulation wrapped in propaganda.”<\/p>\n
“A government that claims to have hit record-breaking revenue should not be borrowing. A government that promised an end to domestic loans should not be submitting back-to-back loan requests totaling trillions of naira. The APC-led government is suffering from a worsening case of economic policy schizophrenia, where the left hand borrows blindly while the right hand issues press statements about \u201cfiscal prudence.\u201d<\/p>\n
Continuing the party said,”To add insult to injury, these loans are being pushed through by the APC-dominated National Assembly while everyday Nigerians are suffering from the rising cost of living. The Tinubu administration claims that headline inflation has dropped to 18.02 percent, and food inflation to 16.87 percent as of September 2025. Yet, in the open markets across the country, everything has become more expensive since Tinubu came into office. Make no mistake, Nigerians are not experiencing statistical relief \u2014 they are experiencing economic suffocation.<\/p>\n
“President Tinubu must come clean to the Nigerian people. You cannot claim that your house is in order while taking new loans to stop the roof from collapsing. You cannot say revenue has improved and still insist on borrowing more than any administration in Nigeria\u2019s history.<\/p>\n
“As a responsible party, the African Democratic Congress (ADC) therefore calls on civil society organisations, the international financial community, and the Nigerian people to demand the following from President Tinubu:<\/p>\n
“First, an immediate freeze on non-critical new loan approvals. Second, a full publication of all revenue inflows and debt disbursements for 2025.\u2028Third, an independent verification of non-oil revenue claims. Fourth, a legally binding debt ceiling to prevent this abuse of the national purse.<\/p>\n
“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 that is fuelled by economic incompetence.”<\/p>\n","protected":false},"excerpt":{"rendered":"
By Our Correspondent The African Democratic Congress (ADC) has condemned the Federal Government\u2019s fresh approval of N1.15 trillion in domestic borrowing, accusing President Bola Ahmed Tinubu of policy inconsistency and fiscal recklessness. In a statement signed by the party\u2019s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC noted that despite Tinubu\u2019s public claim that Nigeria […]<\/p>\n","protected":false},"author":2,"featured_media":7277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[2060,1475,5369,4874],"class_list":["post-8692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","tag-approved","tag-collective","tag-request","tag-watching"],"_links":{"self":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/8692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/comments?post=8692"}],"version-history":[{"count":1,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/8692\/revisions"}],"predecessor-version":[{"id":8693,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/8692\/revisions\/8693"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media\/7277"}],"wp:attachment":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media?parent=8692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/categories?post=8692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/tags?post=8692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}