The African Democratic Congress (ADC) has stated that Bola Tinubu has turned Nigeria into a borrowing country.
ADC in a post on their official X handle lamented that under two years of Tinubu’s government, the debt level of Nigeria has tripled to a staggering sum of N99.5 trillion naira.
They emphasized that the Tinubu-led government has mortgaged Nigeria’s future, burdening the next generation with massive debt with no clear repayment strategy.
The post reads,”President Tinubu has turned Nigeria into a borrowing nation.
“In just 2 years, Nigeria’s total public debt TRIPLED under this administration. This is a staggering increase of ₦99.5 trillion, pushing the country deeper into a debt trap.
READ MORE:Nigeria’s Public Debt Hits N142 Trillion as Tinubu, Governors’ Continue Borrowing Spree
“Domestic debt more than doubled, with the Federal Government alone accounting for nearly ₦75 trillion. This massive borrowing spree is occurring without visible infrastructure growth or significant improvements in service delivery.
“External debt grew by over 260%, increasing Nigeria’s exposure to currency risks and global financial shocks, especially in a time of exchange rate volatility and naira depreciation.
“Since coming to power in 2023, this administration has turned Nigeria into a borrowing nation without a clear repayment strategy. Despite this astronomical debt increase, inflation is out of control, the naira has crashed, infrastructure remains inadequate, poverty and unemployment are rising.
“This government has mortgaged Nigeria’s future, burdening the next generation with massive debt for consumption-driven expenditures and questionable projects.
“We call on Nigerians to ask hard questions:Why are citizens not feeling the impact of this massive borrowing?Where is this money going?What is the debt repayment plan?
“This government’s economic management is clearly failing. Nigeria cannot borrow its way into prosperity without vision, strategy, and accountability.”
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