The African Democratic Congress (ADC) has accused President Bola Tinubu of deepening Nigeria’s debt crisis with the fresh N1.15 trillion domestic borrowing approval by the National Assembly.
The party in a statement by the National Publicity Secretary Mallam Bolaji Abdullahi, accused President Tinubu of policy inconsistency and fiscal recklessness, despite his public claim that Nigeria had met its nonoil revenue targets of N20.59 trillion by August 2025.
ADC warned that Nigeria’s total public debt could rise to N193 trillion if all of Tinubu’s 2025 loan requests were approved, noting that the All Progressives Congress (APC) government was “borrowing against its own words” and failing to deliver meaningful relief to Nigerians who the party said, are stilled burdened by inflation and rising living costs.
According to the party, the N1.15 trillion fresh domestic borrowing exposed the contradictions and dangerous fiscal trajectory of President Tinubu’s administration.
ADC further accused the Federal Government of mortgaging the nation’s future, despite promising Nigerians that domestic borrowing would be phased out. “Yet here we are again, watching this government take a contradictory and irresponsible detour from its own stated policy direction.
“As recently reported, if all of President Tinubu’s loan requests for 2025 are approved and disbursed, Nigeria’s 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. “Let it be clearly stated: this is reckless debt accumulation wrapped in propaganda,” the party stated.
According to the ADC, a government that claims to have hit record-breaking revenue should not be borrowing, adding, “a government that promised an end to domestic loans should not be submitting back-to-back loan requests totalling trillions of naira.”
The party stated that 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.”
