The African Democratic Congress (ADC) has criticized the recent proposal for N1.15 trillion in domestic borrowing, accusing President Bola Tinubu of inconsistent policies and fiscal irresponsibility.
The party’s National Publicity Secretary, Bolaji Abdullahi, stated that despite Tinubu’s assertion that Nigeria had achieved its non-oil revenue targets—estimated at N20.59 trillion by August 2025—the administration continues to exacerbate the nation’s debt crisis.
The ADC referenced a report indicating that Nigeria’s total public debt could reach N193 trillion if all of Tinubu’s loan requests for 2025 are approved, claiming the government is “borrowing against its own statements” and failing to provide meaningful relief to Nigerians struggling with inflation and rising living costs.
The party expressed concern over the Tinubu administration’s growing reliance on loans, noting that there has been little to show for the funds already borrowed.
The ADC in a statement released on Friday, said the recent approval by the National Assembly for N1.15 trillion in new domestic borrowing by the faederal government reveals the contradictions and perilous fiscal path of the Tinubu administration.
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Also, the party pointed out that “just a few months ago, the president declared that Nigeria had met and exceeded its non-oil revenue targets, generating N20.59 trillion in the first eight months of 2025, a figure his media team and cabinet members touted as evidence of effective economic management.
“Not long before that, the administration assured Nigerians that domestic borrowing would be reduced, and that revenue growth would lessen the need to compromise the nation’s future.
“Yet, here we are again, witnessing this government take a contradictory and irresponsible turn away from its own declared 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 rise by N40.61 trillion, bringing the national debt to an alarming N193 trillion.
“This projection, based on verified data from the Debt Management Office, indicates that as of June 30, 2025, Nigeria’s debt already stood at N152.4 trillion, comprising N80.55 trillion in domestic debt and N71.85 trillion in external liabilities.
“It must be made clear: this is reckless debt accumulation disguised as propaganda.”
The ADC questioned why a government that claims to have achieved record revenue continues to borrow.
“A government that promised to end domestic loans should not be making consecutive loan requests totaling trillions of naira.
“The APC-led government is experiencing a severe case of economic policy inconsistency, where one hand borrows indiscriminately while the other hand issues statements about ‘fiscal prudence.’
“To make matters worse, these loans are being pushed.”
