ADC Accuses President Tinubu of Debt Addiction, Labels ₦1.15 Trillion Loan “Reckless Borrowing”

The African Democratic Congress (ADC) has accused President Bola Ahmed Tinubu of what it described as an “addiction to debt,” following the Federal Government’s fresh approval of ₦1.15 trillion in domestic borrowing.

In a statement issued on Thursday and signed by its National Publicity Secretary, Bolaji Abdullahi, the opposition party condemned the new loan, describing it as another example of the government’s “policy inconsistency and fiscal recklessness.”

The ADC noted that despite President Tinubu’s public claims that Nigeria had met and even surpassed its non-oil revenue targets—reportedly generating ₦20.59 trillion by August 2025—the administration continues to plunge the country deeper into debt.

Citing data from the Debt Management Office (DMO), the party warned that Nigeria’s total public debt could rise to ₦193 trillion if all of the President’s 2025 loan requests are approved and disbursed.

“The latest approval of ₦1.15 trillion in fresh domestic borrowing exposes the contradictions and dangerous fiscal trajectory of President Tinubu’s administration,” the statement read.

The party accused the government of “borrowing against its own words,” stressing that the President’s team had earlier promised to reduce domestic borrowing and rely on improved revenue performance.

“Yet here we are again,” the ADC stated, “watching this government take a contradictory and irresponsible detour from its own stated policy direction.”

According to the statement, Nigeria’s debt stood at ₦152.4 trillion as of June 30, 2025—comprising ₦80.55 trillion in domestic debt and ₦71.85 trillion in external liabilities.

“This is reckless debt accumulation wrapped in propaganda,” the ADC declared. “A government that claims record-breaking revenue should not be borrowing. You cannot preach fiscal prudence while your actions show economic recklessness.”

The party also faulted claims that inflation had dropped to 18.02 percent (headline) and 16.87 percent (food inflation), arguing that Nigerians were not feeling any relief at the market.

“Make no mistake, Nigerians are not experiencing statistical relief — they are experiencing economic suffocation,” the ADC said.

Calling for transparency and restraint, the party urged President Tinubu to:

1. Freeze all non-critical new loans immediately.

2. Publish all 2025 revenue inflows and debt disbursements.

3. Allow an independent verification of the government’s revenue claims.

4. Set a legally binding debt ceiling to prevent what it called “abuse of the national purse.”

The statement concluded with a warning:

“Nigerians are watching as our collective future is being mortgaged. Mr. President must be reminded — we cannot borrow our way out of a crisis caused by economic incompetence.”