The African Democratic Congress (ADC), a Nigerian opposition party, has strongly condemned the Federal Government’s recent request for and approval of a fresh ₦1.15 trillion domestic loan, accusing President Bola Ahmed Tinubu’s administration of fiscal recklessness and policy inconsistency.
The condemnation comes despite previous declarations by the government that it had exceeded non-oil revenue targets for 2025. The ADC warned that if all current loan requests are approved, Nigeria’s total public debt could surge to ₦193 trillion.
Earlier this year, the Tinubu administration claimed to have met its non-oil revenue targets, allegedly generating ₦20.59 trillion by August 2025, which officials presented as evidence of sound economic management and a reduced need for borrowing. The approval of the new ₦1.15 trillion loan by the National Assembly has prompted the ADC to accuse the government of reneging on its promise to phase out domestic borrowing. The party stated that as of June 30, 2025, Nigeria’s public debt already stood at ₦152.4 trillion.
The ADC argues that the increased borrowing is occurring while ordinary Nigerians are facing economic suffocation from high inflation and rising living costs, despite the government claiming that inflation has marginally dropped.
The opposition party views the borrowing as contradictory and irresponsible. National Publicity Secretary Mallam Bolaji Abdullahi stated;
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 party called for an immediate freeze on new non-critical loan approvals and a full publication of all revenue inflows and debt disbursements for 2025.
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