ADC Slams FG Over Fresh ₦1.15tn Domestic Loan Approval

The African Democratic Congress (ADC) has criticised the Bola Tinubu-led administration over its recent approval to borrow ₦1.15 trillion from the domestic market, describing the move as “reckless debt accumulation wrapped in propaganda.”

The opposition party’s reaction came barely 24 hours after the Senate granted President Tinubu’s request to raise the funds to finance the shortfall in the 2025 national budget.

In a statement issued on Thursday by its National Publicity Secretary, Bolaji Abdullahi, the ADC accused the government of “fiscal inconsistency and poor economic judgment,” noting that the new loan contradicted Tinubu’s repeated claims of improved revenue performance.

“The latest approval by the National Assembly of ₦1.15 trillion in fresh domestic borrowing by the APC-led Federal Government exposes the contradictions and dangerous fiscal trajectory of President Bola Ahmed Tinubu’s administration,” the party said.

Abdullahi argued that the move undermined the President’s earlier declaration that Nigeria had met and surpassed its non-oil revenue targets, reportedly generating ₦20.59 trillion in the first eight months of 2025.

“If indeed the government has achieved such impressive revenue performance, why resort to additional borrowing? This inconsistency reflects either a lack of transparency in government reporting or a deliberate attempt to mislead Nigerians,” the statement added.

The ADC warned that the continuous rise in domestic borrowing would further crowd out private sector access to credit, worsen inflation, and deepen Nigeria’s debt servicing burden.

“The administration cannot continue to preach fiscal discipline while simultaneously mortgaging the nation’s future through incessant borrowing. This is not sustainable,” Abdullahi cautioned.

The opposition party called on the National Assembly to exercise stronger oversight on the government’s borrowing plans, insisting that the legislature must protect Nigerians from what it termed “economic recklessness disguised as reform.”

The Senate had on Wednesday approved Tinubu’s fresh borrowing request to bridge the funding gap in the 2025 budget, bringing Nigeria’s total domestic debt profile to new heights amid rising inflation and currency volatility.