The African Democratic Congress (ADC) has lashed out on the administration of President Bola Tinubu over its recent N1.15 trillion home borrowing approval, accusing it of reckless debt accumulation wrapped in propaganda.
This was contained in a press release by the occasion’s Nationwide Publicity Secretary, Bolaji Abdullahi, on Thursday in Abuja.
The event comes barely 24 hours after the Senate accredited Tinubu’s request to lift the fund from the home market to finance the remaining shortfall within the 2025 nationwide funds.
In line with the opposition, the borrowing contradicts Tinubu’s personal claims that Nigeria had met and surpassed its non-oil income targets, reportedly producing N20.59 trillion within the first eight months of 2025.
“The most recent approval by the Nationwide Meeting of N1.15 trillion in recent home borrowing by the APC-led Federal Authorities exposes the contradictions and harmful fiscal trajectory of President Bola Ahmed Tinubu’s administration.
“Only some months in the past, the President himself declared that Nigeria had met and surpassed its non-oil income targets. But right here we’re once more, watching this authorities take a contradictory and irresponsible detour from its personal acknowledged coverage path,” the assertion mentioned.
It cautioned that if all of Tinubu’s mortgage requests for 2025 have been accredited, Nigeria’s complete public debt may rise by N40.61 trillion to a staggering N193 trillion, citing verified figures from the Debt Administration Workplace.
The ADC additionally blasted the ruling occasion for deepening the debt disaster at a time when many Nigerians are fighting inflation and rising dwelling prices.
