ADC Warns National Assembly Against Rubber-Stamping Tinubu’s Loan Requests

The African Democratic Congress Presidential Campaign Council (ADC-PCC) has urged the National Assembly to stop what it described as the indiscriminate approval of loan requests by President Bola Tinubu’s administration, warning that unchecked borrowing could plunge Nigeria into an unsustainable debt crisis.

The opposition campaign council called on federal lawmakers to exercise their constitutional oversight powers by thoroughly scrutinising the purposes, conditions and expected benefits of every loan request presented by the executive arm of government.

The Director of Media and Publicity of ADC-PCC, Kola Ologbondiyan, made the appeal in a statement issued in Abuja on Friday, expressing concern over the country’s rising debt profile and what the council described as the absence of corresponding development achievements.

The council also appealed to international donors, development partners and financial institutions to insist on transparency and accountability before extending further credit facilities to Nigeria.

The ADC-PCC’s position followed recent comments by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, who defended the Tinubu administration’s borrowing record, arguing that attention should be focused on what the government had achieved with borrowed funds rather than the volume of loans obtained.

However, the opposition council dismissed the presidential aide’s argument, describing it as an insult to Nigerians who, according to it, have yet to experience meaningful improvements in their living conditions despite the government’s borrowing activities.

It challenged President Tinubu to identify tangible projects delivered with the trillions of naira reportedly borrowed by his administration, beyond the solar farm at the Presidential Villa.

“Let President Tinubu show Nigerians one tangible project his administration has delivered with its trillions of naira in loans, beyond the solar farm in the Presidential Villa.

“History will not forgive the 10th National Assembly if it stands by while the country is plunged deeper into a cycle of unsustainable indebtedness,” the statement said.

The ADC-PCC further accused the Federal Government of relying heavily on publicity, announcements and propaganda to project an image of infrastructural development while several major projects remained incomplete or had recorded what it considered unsatisfactory progress.

The council specifically questioned the implementation of the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway and Trans-Sahara Superhighway, alleging that the projects had featured more prominently in government announcements than in visible development outcomes.

“Under Tinubu, virtually every project exists in a press statement,” it added.

It also criticised the pace of construction on the Abuja-Kaduna-Kano Highway, arguing that the prolonged execution of the project raised questions about the government’s capacity to deliver critical infrastructure within reasonable timelines.

The opposition campaign council equally cautioned against presenting projects initiated under the administration of former President Muhammadu Buhari as fresh achievements of the Tinubu government.

Beyond infrastructure, the ADC-PCC accused the Federal Government of failing to adequately address the economic difficulties confronting ordinary Nigerians, citing hunger, insecurity, poverty and widespread deprivation.

“Citizens are hungry and enduring excruciating hardship. People are dying from hunger, insecurity and deprivation, while the government remains preoccupied with propaganda and self-congratulatory statements,” the statement added.

While acknowledging that borrowing could be justified when it translates into productive investments, improved infrastructure, employment opportunities and better living conditions, the council insisted that public debt must be matched with measurable economic benefits.

It warned that continued borrowing without transparent utilisation and verifiable development outcomes could impose an unjustifiable financial burden on future generations.

The ADC-PCC therefore called on the National Assembly to subject government borrowing proposals to rigorous legislative scrutiny rather than granting automatic approval, stressing that Nigerians deserve accountability over public funds and the country’s growing debt obligations.