The African Democratic Congress (ADC) has condemned the Federal Government’s recent approval of N1.15 trillion in domestic borrowing, accusing President Bola Ahmed Tinubu of policy inconsistency and reckless fiscal management.

In a statement signed by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC expressed concern that the government is “borrowing against its own words” despite claims of meeting non-oil revenue targets. According to the statement, Nigeria reportedly generated N20.59 trillion in non-oil revenue by August 2025, yet the administration continues to deepen the country’s debt crisis.

“The latest approval by the National Assembly of N1.15 trillion in fresh domestic borrowing by the APC-led Federal Government exposes the contradictions and dangerous fiscal trajectory of President Bola Ahmed Tinubu’s administration,” the statement read.

The ADC warned that if all of President Tinubu’s loan requests for 2025 are approved, Nigeria’s total public debt could rise to N193 trillion. The party highlighted that as of June 30, 2025, the country’s debt already stood at N152.4 trillion, including N80.55 trillion in domestic debt and N71.85 trillion in external liabilities.

“A government that claims to have hit record-breaking revenue should not be borrowing. A government that promised an end to domestic loans should not be submitting back-to-back loan requests totaling trillions of naira,” the statement said. “The APC-led government is suffering from a worsening case of economic policy schizophrenia, where the left hand borrows blindly while the right hand issues press statements about ‘fiscal prudence.’”

The ADC also criticized the National Assembly for approving the loans while Nigerians continue to face rising costs of living. The statement noted that “headline inflation has dropped to 18.02 percent, and food inflation to 16.87 percent as of September 2025. Yet, in the open markets across the country, everything has become more expensive since Tinubu came into office.”

The party called on civil society organizations, the international financial community, and Nigerians to demand the following from the government: “an immediate freeze on non-critical new loan approvals; a full publication of all revenue inflows and debt disbursements for 2025; an independent verification of non-oil revenue claims; [and] a legally binding debt ceiling to prevent this abuse of the national purse.”

The ADC concluded: “Nigerians are watching as our collective future is being mortgaged. And the President must be reminded: we cannot borrow our way out of a crisis that is fuelled by economic incompetence.”