African Democratic Congress criticises Tinubu over the new N1.15tn domestic borrowing approved to cover the 2025 budget shortfall
African Democratic Congress has sharply criticised President Bola Ahmed Tinubu’s administration for securing fresh approval to borrow N1.15tn from the domestic market. The party described the decision as reckless and inconsistent, accusing the government of promoting optimistic revenue claims while sinking deeper into debt.
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The condemnation came in a statement released by the ADC National Publicity Secretary Mallam Bolaji Abdullahi, less than a day after the Senate granted the President’s request to raise the funds needed to close the remaining gap in the 2025 national budget.
Abdullahi argued that the borrowing contradicted the President’s earlier declaration that Nigeria had exceeded its non oil revenue targets, reportedly generating N20.59tn in the first eight months of the year. He said the approval revealed a dangerous fiscal pattern that could threaten long term stability.
According to the ADC, total public debt could rise by N40.61tn if all loan requests for 2025 were approved, bringing Nigeria’s obligations to an estimated N193tn based on figures from the Debt Management Office.
The party warned that the situation amounted to economic policy confusion, with the government celebrating revenue gains on one hand while seeking massive loans on the other.
The statement added that Nigerians were feeling no statistical relief but instead experiencing economic suffocation as inflation and living costs continued to rise.
The ADC urged civil society groups, international partners and citizens to demand a freeze on non essential loans and insist on full transparency regarding 2025 revenues and expenditures.
Abdullahi said the administration must adopt real fiscal discipline and introduce a legally binding debt ceiling to prevent further strain on the national purse.
He insisted that the President owed Nigerians a clear explanation, noting that no government boasting record breaking revenue should rely so heavily on borrowing.
On Wednesday, the Senate approved the additional N1.15tn borrowing after adopting a report from the Committee on Local and Foreign Debt chaired by Senator Wamakko Magatarkada Aliyu.
The committee noted that the 2025 Appropriation Act, valued at N59.99tn, had created a deficit of N14.10tn. Previous approvals had covered N12.95tn, leaving the latest shortfall for domestic financing.
Several senators defended the move, arguing that the funds were necessary to maintain fiscal stability and support key national projects.
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However, analysts and opposition figures caution that continued borrowing could push Nigeria’s debt load, estimated at N152.4tn as of June 2025, toward an unsustainable threshold.
