{"id":123773,"date":"2025-11-14T01:23:49","date_gmt":"2025-11-14T00:23:49","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=123773"},"modified":"2025-11-14T01:23:49","modified_gmt":"2025-11-14T00:23:49","slug":"%e2%82%a61-15-trillion-loan-adc-slams-tinubu","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/%e2%82%a61-15-trillion-loan-adc-slams-tinubu\/","title":{"rendered":"\u20a61.15 Trillion Loan: ADC Slams Tinubu"},"content":{"rendered":"
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By Myke Agunwa<\/div>\n
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The African Democratic Congress (ADC) has criticized the Federal Government\u2019s fresh request of \u20a61.15 trillion in domestic borrowing, accusing President Bola Tinubu of fiscal recklessness and policy inconsistency.<\/div>\n
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Since taking office in May 2023, the Tinubu government has borrowed over \u20a640 trillion, pushing Nigeria\u2019s total public debt stock to \u20a6152.4 trillion as of June 2025, according to verified figures from the Debt Management Office (DMO). This includes \u20a680.55 trillion in domestic debt and \u20a671.85 trillion in external obligations\u2014figures that could rise to \u20a6193 trillion if all pending loan requests for 2025 are approved.<\/div>\n
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The President Tinubu\u2019s government relied heavily on borrowing to finance fiscal deficits since taking office in May 2023. The 2025 budget framework projects a deficit of \u20a617.7 trillion, about 4.3 percent of GDP will largely to be financed through domestic and external loans.<\/div>\n
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In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party said the new borrowing contradicts Tinubu\u2019s earlier claims that Nigeria had met and surpassed its non-oil revenue targets, generating \u20a620.59 trillion by August 2025.<\/div>\n
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The party described the government\u2019s new borrowing as \u201cborrowing against its own words,\u201d saying it exposes the contradictions in the administration\u2019s fiscal policy and deepens Nigeria\u2019s debt crisis without offering meaningful relief to struggling citizens.<\/div>\n
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\u201cOnly a few months ago, the President declared that Nigeria had achieved record revenue performance and that domestic borrowing would be phased out. Yet here we are again, with another \u20a61.15 trillion loan request. This is fiscal recklessness wrapped in propaganda,\u201d the statement said.<\/div>\n
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Abdullahi said the Tinubu administration\u2019s borrowing spree \u201cbetrays a worsening case of economic policy schizophrenia,\u201d where government officials make conflicting statements about revenue performance and fiscal prudence while pushing new debt approvals through the National Assembly.<\/div>\n
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\u201cYou cannot say your house is in order and still borrow to stop the roof from collapsing,\u201d the ADC said. \u201cA government that claims to have achieved record revenue should not be piling up record debts.\u201d<\/div>\n
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The party further accused the APC-led National Assembly of complicity for approving the loans \u201cwithout due scrutiny,\u201d adding that the move was \u201cinsensitive\u201d at a time when Nigerians are battling severe hardship.<\/div>\n
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The ADC also faulted official government data claiming inflation had dropped to 18.02 percent and food inflation to 16.87 percent in September 2025, saying the figures did not reflect the reality in the markets.<\/div>\n
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\u201cMake no mistake, Nigerians are not experiencing statistical relief, they are experiencing economic suffocation,\u201d the statement said.<\/div>\n
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The party called for an immediate freeze on non-essential loan approvals, full disclosure of all 2025 revenue inflows and debt disbursements, and an independent audit of the government\u2019s non-oil revenue claims. It also urged the Tinubu administration to introduce a legally binding debt ceiling to prevent \u201ccontinued abuse of the national purse.\u201d<\/div>\n
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\u201cWe cannot borrow our way out of a crisis caused by economic incompetence,\u201d the ADC warned.<\/div>\n
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Recall that in August 2025, the President assured Nigerians that improved non-oil revenues from customs, tax reforms, and digital remittances had boosted government finances. He also pledged to reduce reliance on borrowing by improving fiscal discipline. However, the latest loan request, analysts say, contradicts that position.<\/div>\n
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Economic experts have expressed growing concern over Nigeria\u2019s rising debt profile, particularly its cost of servicing. The World Bank and IMF have both warned that Nigeria\u2019s debt service-to-revenue ratio\u2014estimated at over 80 percent in 2025\u2014poses a significant threat to fiscal sustainability.<\/div>\n
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