ADC Blasts Tinubu Over Fresh Loans, Urges Federal Government to Halt Non-Critical Borrowing
The African Democratic Congress (ADC) has strongly condemned the Bola Tinubu-led administration for seeking additional loans amid Nigeria’s growing debt crisis. The party warned that the government’s continuous borrowing spree could push the nation into deeper economic instability, urging the President to halt all non-critical borrowing and prioritize fiscal discipline.
In a statement released by the ADC’s national leadership, the party expressed deep concern over what it described as a “reckless approach to public finance”, arguing that most of the loans obtained in recent times have failed to translate into visible development projects or improvements in the living standards of citizens. The party emphasized that Nigeria’s debt burden has become unsustainable, especially with a large percentage of the national budget dedicated to debt servicing.
The ADC called on the Tinubu administration to explore alternative revenue sources, such as industrial diversification, tax reform, and efficient management of public assets, rather than relying on continuous external and domestic borrowing. The party also urged the National Assembly to play a more proactive role in scrutinizing loan approvals, ensuring that only critical infrastructure projects with clear economic benefits are financed through borrowing.
As public concern grows over Nigeria’s debt profile, the ADC’s statement adds to the mounting pressure on the Federal Government to rethink its borrowing policies and adopt long-term strategies for economic recovery. Many analysts agree that without strong fiscal reforms and transparent loan management, Nigeria risks mortgaging its future to unsustainable debt obligations.
