ADC Drags Tinubu Government Over ₦1.15tn Domestic Loan

The African Democratic Congress has condemned the Bola Tinubu administration for seeking another ₦1.15 trillion domestic loan, accusing it of worsening Nigeria’s debt crisis through what it described as reckless fiscal management.

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In a statement by its National Publicity Secretary, Bolaji Abdullahi, the party said the new borrowing approval—granted by the Senate less than 24 hours earlier—contradicted the government’s claims of strong non-oil revenue performance. The ADC noted that Tinubu had previously announced that Nigeria generated ₦20.59 trillion in the first eight months of 2025, surpassing its targets.

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The opposition party said it was illogical for a government boasting of record revenues to continue piling up loans. It described the move as “a dangerous detour from responsible governance,” accusing the ruling All Progressives Congress of deepening the country’s fiscal instability.

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The ADC cited data from the Debt Management Office suggesting that Nigeria’s public debt could climb by another ₦40.61 trillion if all of Tinubu’s borrowing plans are approved, pushing the total debt stock close to ₦193 trillion. It said the borrowing spree had left citizens battling inflation, high food prices, and job losses.

The party called on Nigerians, civil society groups, and international partners to demand stricter debt controls, transparency in budget spending, and an end to what it described as non-essential loans. It urged the government to publish detailed records of all 2025 revenues and expenditures and adopt a legally binding debt ceiling to prevent misuse of public funds.

The Senate had on Wednesday approved Tinubu’s request to raise ₦1.15 trillion from the domestic market to close the remaining shortfall in the 2025 budget. Lawmakers backing the decision said the funds were needed to maintain fiscal stability and finance key projects, but critics warn it risks pushing the economy further into debt dependency.