The African Democratic Congress (ADC) has criticised President Bola Ahmed Tinubu over the Federal Government’s newly approved ₦1.15 trillion domestic loan, accusing him of worsening Nigeria’s debt crisis.
In a statement signed by the party’s National Publicity Secretary, Bolaji Abdullahi, the ADC said President Tinubu’s government has become “addicted to debts” despite repeatedly claiming that Nigeria’s revenue has improved.
The party pointed out that earlier in 2025, the administration announced that the country had already met its non-oil revenue target — reportedly ₦20.59 trillion by August. According to the ADC, this made the fresh borrowing even more contradictory and unacceptable.
The statement also referenced reports showing that Nigeria’s total public debt could rise to about ₦193 trillion if all of the 2025 loan requests are approved. As of June 30, 2025, Nigeria’s debt already stood at ₦152.4 trillion, split between ₦80.55 trillion in domestic debt and ₦71.85 trillion in external debt.
The ADC described the borrowing trend as dangerous and inconsistent with the government’s own promises, noting that Tinubu previously pledged to reduce domestic borrowing and rely instead on increased revenue.
The party added that despite government claims that inflation had dropped to 18.02% and food inflation to 16.87% as of September 2025, citizens were not feeling any relief, as prices of goods continued to rise nationwide.
The ADC demanded the following actions from the Federal Government:
- A halt to all non-essential new loan approvals.
- Full disclosure of all revenue received and how loans for 2025 are being spent.
- Independent verification of the government’s revenue claims.
- A legal debt limit to prevent excessive borrowing.
The party warned that Nigeria’s future is being placed at risk and urged civil society, financial institutions, and the public to hold the government accountable, saying the country cannot “borrow its way out of a crisis caused by poor economic management.”
