ADC criticises Tinubu’s ₦1.15tn domestic borrowing, calling it reckless debt accumulation despite claims of strong revenue performance

Tinubu ₦1.15tn domestic borrowing has drawn sharp criticism from the African Democratic Congress (ADC), which accused the Federal Government of “reckless debt accumulation wrapped in propaganda.”

Also read: Tinubu reaffirms commitment to ending insecurity

In a statement on Thursday, the ADC’s National Publicity Secretary, Bolaji Abdullahi, condemned the administration’s fresh borrowing plan, approved barely 24 hours earlier by the Senate.

The ₦1.15 trillion loan is intended to finance the shortfall in the 2025 national budget.

“The latest approval by the National Assembly of ₦1.15tn 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 ADC said.

Abdullahi argued that the move contradicted Tinubu’s earlier claim that Nigeria had surpassed its non-oil revenue targets, reportedly generating ₦20.59tn within the first eight months of 2025.

“Only a few months ago, the President himself declared that Nigeria had met and surpassed its non-oil revenue targets.

Yet here we are again, watching this government take a contradictory and irresponsible detour from its own stated policy direction,” he added.

The opposition party warned that if all of Tinubu’s borrowing requests for 2025 were approved, Nigeria’s total public debt could increase by ₦40.61tn, reaching a record ₦193tn, according to figures from the Debt Management Office.

“A government that claims to have hit record-breaking revenue should not be borrowing.

The APC-led government is suffering from a worsening case of economic policy schizophrenia, where the left hand borrows blindly while the right hand issues press statements about fiscal prudence,” the statement read.

The ADC further criticised the administration for worsening the debt burden amid rising inflation and a high cost of living, saying Nigerians are “not experiencing statistical relief — they are experiencing economic suffocation.”

The party called for urgent fiscal discipline, demanding a freeze on non-essential loans, publication of all 2025 revenue inflows and disbursements, and a legally binding debt ceiling to curb fiscal abuse.

“President Tinubu must come clean to the Nigerian people. You cannot say revenue has improved and still insist on borrowing more than any administration in Nigeria’s history,” the statement concluded.

On Wednesday, the Senate approved the President’s request to raise ₦1.15tn in domestic debt to fund the unfunded portion of the 2025 budget deficit.

According to the Senate Committee on Local and Foreign Debt, chaired by Senator Wamakko Magatarkada Aliyu (APC, Sokoto North), the 2025 Appropriation Act provides for ₦59.99tn in total expenditure, up from the ₦54.74tn initially proposed, creating a ₦14.10tn deficit.

With ₦12.95tn already approved for borrowing, the ₦1.15tn gap now completes the government’s deficit-financing plan for the fiscal year.

Pro-government lawmakers, including Senators Sani Musa, Adetokunbo Abiru, and Adams Oshiomhole, defended the borrowing as necessary to sustain fiscal stability and fund critical projects.

Also read: Tinubu reaffirms commitment to power sector reforms

However, opposition parties and economists have warned that the continued reliance on debt under Tinubu could push Nigeria’s debt burden to unsustainable levels, undermining long-term economic stability.