ADC warns President Tinubu’s 2026 budget poses a debt risk, citing unrealistic revenue and excessive borrowing that could deepen Nigeria’s fiscal crisis
The African Democratic Congress has condemned President Bola Tinubu’s 2026 budget proposal, describing it as a “debt trap disguised as reform” that could deepen Nigeria’s fiscal crisis.
Also read: ADC faction suspends 15 members amid deepening leadership crisis
The statement was issued on Monday by ADC National Publicity Secretary, Bolaji Abdullahi, in Abuja.
The ADC criticised the ₦58.18 trillion budget presented by Tinubu on Friday, warning that excessive borrowing and unrealistic revenue projections threaten to mortgage Nigeria’s future.
The party said the proposal merely continues what it called the administration’s pattern of fiscal irresponsibility.
“The government claims it will spend ₦25.68 trillion on capital projects, yet with a projected deficit of ₦23.85 trillion, almost every bridge, road or project is being funded by high-interest debt,” Abdullahi said.
The coalition party argued that the 2026 budget repeats the mistakes of 2024 and 2025, with implementation likely deferred to later years.
ADC described the administration as chaotic, accusing it of managing multiple budgets simultaneously due to previous fiscal mismanagement.
“The 2026 budget embarks on another unsustainable expansion built on a foundation of quicksand,” Abdullahi added.
“With oil projections weakening and global prices dipping, the government’s $64 per barrel benchmark is disconnected from reality. Borrowing ₦24 trillion to fund deficits signals fiscal insolvency.”
ADC also highlighted the rising debt servicing costs, which the party said will balloon from ₦12.63 trillion in 2024 to a projected ₦15.52 trillion in 2026, warning this approach could burden future generations.
Also read: Former Assembly Speaker Emerges ADC Candidate for Osun 2026 Election
The party urged the government to reconsider its fiscal strategy, emphasising the need for credible revenue projections, fiscal discipline, and a sustainable approach to public expenditure.
