‘Tinubu’s borrowing spree could push Nigeria’s debt beyond ₦200trn’ – ADC
The African Democratic Congress (ADC) has raised alarm over Nigeria’s growing debt burden, accusing President Bola Tinubu of leading the country into a deepening fiscal crisis. The party warned that the nation’s public debt could surpass ₦200 trillion by the end of 2025, following the National Assembly’s approval of a new $21 billion foreign loan.
In a statement on Saturday, ADC National Publicity Secretary, Mallam Bolaji Abdullahi, described the current borrowing trend as “fiscal vandalism,” claiming Tinubu’s administration has exceeded that of his predecessor in debt accumulation, with far less visible impact.
“Under President Buhari, Nigeria borrowed an average of ₦4.7 trillion per year,” the statement read. “But under Tinubu, annual borrowing has jumped to ₦49.8 trillion — over ten times Buhari’s rate. At this pace, Nigeria’s debt will cross ₦200 trillion before year-end.”
The party dismissed comparisons that favour Tinubu in dollar terms, arguing that a weaker naira makes those metrics unreliable. It said current exchange rates show Tinubu’s foreign loans cost Nigeria ₦25.5 trillion annually, compared to Buhari’s ₦2.2 trillion.
The ADC cited Debt Management Office (DMO) figures showing Nigeria’s total public debt ballooning from ₦12.6 trillion in 2015 to over ₦149 trillion in 2025, with borrowing from multilateral institutions and Eurobond markets rising sharply.
Despite the borrowing spree, the ADC said infrastructure remains poor and services inadequate. “Universities are underfunded, hospitals lack equipment, power is unstable, and small businesses are barely surviving,” Abdullahi stated.
The party accused the National Assembly of failing in its oversight role, alleging it approves executive loan requests without demanding accountability or clear repayment plans.
“This fiscal recklessness is unsustainable,” the ADC warned. “The legislature has become complicit. Nigerians deserve transparency, proper scrutiny, and real outcomes for these massive debts.”
