ADC RAISES ALARM OVER TINUBU’S ₦200 TRILLION DEBT TRAJECTORY

The African Democratic Congress (ADC) has accused President Bola Tinubu’s administration of plunging Nigeria into a deepening debt crisis, following the National Assembly’s approval of $21 billion in new foreign loans.
In a scathing statement, ADC National Publicity Secretary, Bolaji Abdullahi, said Nigeria is “speeding toward a financial cliff,” with public debt projected to exceed ₦200 trillion by the end of 2025.
“In just two years, Tinubu’s government has borrowed ten times more than Buhari did over the same period. These loans are mortgaging Nigeria’s future,” the party said.
ADC warned that with the naira in free fall, the true cost of foreign loans is far higher than dollar figures suggest. It noted that over 60% of national income is now used for debt servicing, choking off funds for education, health, and infrastructure.
The party called for a full public audit of all loans taken in the last decade, including terms, interest rates, and recipients. It also criticised the National Assembly for acting as a “rubber stamp” without oversight.
“We demand transparency. This debt binge cannot continue,” ADC stated.