ADC Accuses Tinubu of Fiscal Inconsistency Over Fresh N1.15trn Borrowing Request

The African Democratic Congress (ADC) has strongly criticized the Federal Government’s request for N1.15 trillion in new domestic borrowing, accusing President Bola Ahmed Tinubu of contradicting his administration’s own economic claims and worsening the nation’s debt vulnerability.

In a statement released by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC said the new loan request raises serious concerns about the government’s fiscal direction—especially after publicly announcing record non-oil revenue performance earlier this year.

The party recalled that President Tinubu had stated that Nigeria generated N20.59 trillion in non-oil revenue between January and August 2025, surpassing expectations. Yet, instead of reducing borrowing as previously promised, the government continues to push for more loans.

Abdullahi described the situation as a clear contradiction.
“Only months ago, the President praised his administration for surpassing non-oil revenue targets and assured Nigerians that domestic borrowing would be phased out. Today, the same government is seeking massive loans that undermine its claims and expose a troubling pattern of fiscal inconsistency,” he said.

He cited figures from the Debt Management Office (DMO) showing that as of June 30, 2025, Nigeria’s public debt had already risen to N152.4 trillion—with N80.55 trillion in domestic debt and N71.85 trillion in external liabilities. According to him, if all current borrowing plans for 2025 are fully approved, the country’s total public debt could climb to N193 trillion, pushing Nigeria further into long-term financial strain.

Abdullahi added that the new borrowing request reflects “reckless fiscal behavior masked as economic reform,” arguing that a government claiming to have strengthened revenue should not be accumulating loans at an even faster rate.

He also dismissed the administration’s inflation claims, which report headline inflation at 18.02% and food inflation at 16.87% as of September 2025. The ADC insisted that the figures do not reflect the reality in markets across the country.

“Across Nigeria, the cost of food, transport, and basic goods has continued to rise. Nigerians are not feeling any relief. They are living with escalating hardship while the government continues to borrow without accountability,” the party said.

The ADC called on Nigerians, civil society organizations, and international financial bodies to demand greater transparency from the Federal Government. It listed four urgent steps for President Tinubu’s administration:

1. Suspend all non-essential new borrowing.

2. Publish a detailed breakdown of all 2025 revenue and debt expenditures.

3. Allow independent verification of non-oil revenue claims.

4. Introduce a binding national debt ceiling to curtail excessive borrowing.

Abdullahi concluded that Nigeria’s future must not be “mortgaged through loans taken without genuine economic reform,” warning that the country cannot borrow its way out of a crisis created by poor policy coordination and inconsistency.