The African Democratic Congress (ADC) has condemned the Federal Government’s approval of a fresh ₦1.15 trillion domestic borrowing, accusing Bola Ahmed Tinubu of fiscal recklessness and policy inconsistency.
In a statement signed by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC said, “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 Bola Ahmed Tinubu’s administration.
“Only a few months ago, the President himself declared that Nigeria had met and surpassed its non-oil revenue targets, generating ₦20.59 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’s future.
“Yet here we are again, watching this government take a contradictory and irresponsible detour from its own stated policy direction.”
The party highlighted that if all of Tinubu’s loan requests for 2025 are approved, Nigeria’s total public debt could rise by ₦40.61 trillion, bringing the national debt stock to ₦193 trillion, with domestic debt already at ₦80.55 trillion and external liabilities at ₦71.85 trillion as of June 30, 2025.
“Let it be clearly stated: this is reckless debt accumulation wrapped in propaganda. 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 ‘fiscal prudence,’” the statement added.
Abdullahi further criticised the administration for its handling of rising living costs, saying, “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, they are experiencing economic suffocation.”
The ADC called on the President to be transparent with Nigerians, insisting, “You cannot say revenue has improved and still insist on borrowing more than any administration in Nigeria’s history.
“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.”
The party also demanded immediate action, stating, “There must be an immediate freeze on non-critical new loan approvals. There should be a full publication of all revenue inflows and debt disbursements for 2025.
“An independent verification of non-oil revenue claims must be conducted, and a legally binding debt ceiling instituted to prevent this abuse of the national purse.”
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