Tinubu Addicted to Borrowing, ADC Blasts Fresh N1.15trn Loan

The African Democratic Congress (ADC) has lambasted President Bola Ahmed Tinubu over what it described as his administration’s “addiction to debts” following the National Assembly’s approval of another ₦1.15 trillion domestic loan request.

In a statement on Thursday by its National Publicity Secretary, Bolaji Abdullahi, the opposition party accused the Tinubu-led government of “policy inconsistency and fiscal recklessness,” noting that the new borrowing contradicted the President’s earlier claims of improved revenue performance.

Abdullahi said the fresh loan approval exposed “the contradictions and dangerous fiscal trajectory” of the All Progressives Congress (APC) government.

“Only a few months ago, the President boasted that Nigeria had surpassed its non-oil revenue targets, generating ₦20.59 trillion in the first eight months of 2025. His officials flaunted this as proof of sound economic management. Yet, here we are again with another loan request,” the ADC spokesman said.

The party faulted what it called the government’s “habitual double-speak” on economic policy, adding that the country’s debt burden had become unsustainable under Tinubu.

“This administration promised to phase out domestic borrowing, but it continues to mortgage the nation’s future. What we are witnessing is reckless debt accumulation wrapped in propaganda,” the statement added.

The ADC cited data from the Debt Management Office (DMO), showing that as of June 30, 2025, Nigeria’s total public debt stood at ₦152.4 trillion — ₦80.55 trillion in domestic debt and ₦71.85 trillion in external liabilities. It warned that if all pending loan requests were approved, the figure could soar to ₦193 trillion before the end of 2025.

The party further mocked the government’s claim that inflation had dropped to 18.02 per cent and food inflation to 16.87 per cent, saying Nigerians were yet to feel any relief.

“Nigerians are not experiencing statistical relief; they are experiencing economic suffocation. In the markets, food prices have doubled, transport costs have risen, and small businesses are shutting down. This is the reality on the streets,” the ADC said.

Calling on President Tinubu to “come clean” on the nation’s finances, the party demanded four urgent steps:

1. A freeze on non-critical new loans.

2. Full disclosure of all 2025 revenue inflows and debt disbursements.

3. Independent verification of non-oil revenue claims.

4. A legally binding debt ceiling to prevent fiscal abuse.

“You cannot claim your house is in order while taking loans to stop the roof from collapsing. We cannot borrow our way out of a crisis created by poor economic management,” the ADC declared.

The party urged civil society groups, the international financial community, and Nigerians to hold the government accountable for what it called “a dangerous addiction to debt and deception.”