ADC Slams Tinubu’s N1.15tn Borrowing, Warns of Rising Debt Crisis

The African Democratic Congress (ADC) on Thursday condemned President Bola Ahmed Tinubu’s administration over its newly approved N1.15tn domestic borrowing, describing it as “reckless debt accumulation disguised as policy” and a symptom of “ongoing policy inconsistency.”

The criticism, issued by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, came just a day after the Senate granted approval for the government to raise the funds from domestic sources to cover the remaining shortfall in the 2025 national budget.

The ADC labeled the borrowing a direct contradiction of the President’s earlier claims that Nigeria had surpassed its non-oil revenue targets, which reportedly generated N20.59tn in the first eight months of 2025.

“The National Assembly’s approval of N1.15tn in fresh domestic borrowing exposes the contradictions and risky fiscal path of President Tinubu’s administration,” the statement said. “Just months ago, the President claimed record revenue achievements, yet the government is now taking an irresponsible detour from its own policy.”

The opposition party warned that if all of Tinubu’s 2025 loan requests are approved, Nigeria’s total public debt could soar by N40.61tn, reaching N193tn, citing verified Debt Management Office data.

“An administration claiming record revenue should not be borrowing. The APC-led government is displaying economic policy schizophrenia—borrowing heavily while touting fiscal prudence,” the statement added. The ADC also criticized the government for worsening Nigeria’s debt crisis amid high inflation and rising living costs.

The party called for immediate fiscal discipline, urging civil society, the international financial community, and citizens to demand a freeze on non-essential loans, full disclosure of 2025 revenue inflows and outflows, and a legally binding debt ceiling to curb misuse of public funds. “President Tinubu must be transparent with Nigerians. You cannot claim improved revenue while borrowing more than any previous administration,” Abdullahi said.

On Wednesday, the Senate approved Tinubu’s request to raise N1.15tn in domestic debt to cover the unfunded portion of the 2025 budget deficit. The approval, following a report by the Senate Committee on Local and Foreign Debt, chaired by Senator Wamakko Magatarkada Aliyu (APC, Sokoto North), completed the government’s deficit-financing plan for the fiscal year.

The 2025 Appropriation Act allows for total spending of N59.99tn—an increase of N5.25tn from the initial N54.74tn proposal—creating a N14.10tn deficit. Of this, N12.95tn had already been approved for borrowing, leaving the current N1.15tn gap now covered by the latest approval.

While lawmakers such as Senators Sani Musa, Adetokunbo Abiru, and Adams Oshiomhole defended the move as necessary for fiscal stability and critical projects, opposition parties and economists warn that continued borrowing could push Nigeria’s debt—already at N152.4tn as of June 2025—toward unsustainable levels.