Politics
ADC slams Tinubu over mounting debts, demands audit
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The African Democratic Congress on Sunday condemned what it described as the “fiscal vandalism” of President Bola Tinubu’s administration, following the National Assembly’s approval of an additional $21bn in foreign loans.
The party said the new borrowing spree could drive Nigeria’s public debt beyond N200trn by the end of 2025 — without any visible economic gains to show for it.
In a statement issued by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC accused Tinubu of accelerating Nigeria’s descent into a debt trap far worse than what the country experienced under his predecessor.
“What Nigerians are witnessing, following the approval of a fresh $21 billion in foreign loans, is nothing short of a calculated decision to mortgage the country’s future just to cover up the failures of today,” the party stated.
Citing official data, the ADC argued that under former President Muhammadu Buhari, the country borrowed an average of N4.7trn annually.
However, borrowing under the Tinubu administration has skyrocketed to N49.8trn per year.
“In just two years, this administration has borrowed more than ten times what Buhari borrowed in the same timeframe,” the statement said.
“At this rate, Nigeria’s total public debt will crash through N200trn before the end of the year. We are speeding toward a financial cliff, and those in charge seem to have no brakes.”
While defenders of the Tinubu government have claimed the current borrowing figures appear smaller in dollar terms—$1.7bn annually compared to Buhari’s $4.15 billion—the ADC dismissed such arguments, pointing instead to the devastating impact of currency devaluation.
“With the naira now in free fall, again thanks to this administration’s poor policy choices, these same loans are costing the country far more,” the statement read.
“When converted to naira, Tinubu’s foreign borrowing amounts to N25.5trn every year, more than Buhari’s annual average of N2.2trn.”
The opposition party claimed that since the APC assumed power in 2015, Nigeria’s public debt has ballooned from N12.6trn to over N149trn in 2025, with over $35bn borrowed from external lenders alone in the last decade.
“Our debt to the World Bank has tripled. What we owe in Eurobonds has grown eleven times over. And now, this government wants to borrow even more, pushing our foreign debt ceiling to $67bn.”
The ADC expressed concern that this growing mountain of debt has not translated into improved infrastructure or services.
“The debts have continued to mount, but infrastructures have remained poor, universities are still grossly underfunded, hospitals are still ill-equipped, and the electricity supply is as poor as ever. So, what exactly are these loans used for?” it queried.
“This is the question that Nigerians expect the National Assembly to ask. Instead, it has continued to approve these loans without asking the hard questions, without demanding a plan, and without standing up for the Nigerian people.”
The party cited data from the Association of Small Business Owners of Nigeria to further highlight the impact of excessive borrowing, saying small businesses now struggle to access credit, while investors are losing confidence and leaving the market.
“And because over 60 per cent of our national income is now used to service debt, the government is turning to ordinary Nigerian families and taxing them beyond their limits.”
The ADC also faulted the government for borrowing more even after the recent naira devaluation, arguing that such a move should ordinarily reduce the need for external loans.
Consequently, the party demanded full transparency regarding all loans taken since 2015.
“The ADC hereby demands a full disclosure of all loan agreements signed over the past ten years by the APC and the Tinubu government. Nigerians have a right to know the terms, interest rates, payment timelines, and final recipients of the loans.”
It further urged President Tinubu to end what it called “fiscal recklessness” and focus instead on meaningful economic reforms.
“We also call on President Tinubu to put an end to this fiscal recklessness and focus instead on meaningful reform by investing wisely and spending responsibly. The era of borrowing to cover policy failures must come to an end,” the statement concluded.
Efforts to get the reactions of Tinubu’s Special Adviser on Information, Bayo Onanuga and the Special Adviser to the President on Policy Communication, Daniel Bwala, were unsuccessful.
As of the time of filing this report, they could still not be reached.
The ruling All Progressives Congress, APC, has boasted that the Accord Party cannot withstand it in the forthcoming August 15, 2026, governorship election in Osun State.
The National Chairman of the party, Nentawe Yilwatda, said this on Tuesday at the inauguration of the Osun State APC Governorship Campaign Council in Abuja.
He likened the APC’s political strength in Osun State to a trailer facing a keke napep, declaring that no political party in the state, including Accord, the party of the incumbent governor, Ademola Adeleke, can withstand the calibre of governors, National Assembly members and local government chairmen the APC is deploying ahead of the polls.
According to him, the committee members had been carefully selected from the National Assembly, governors, members of the Federal Executive Council (FEC), deputy governors, past and present lawmakers, and different stakeholders of the party, including the business community.
“It is like a trailer facing a keke. I do not know how the political party standing against us in Osun can withstand the strength of these people who are going there to mobilise and win the election in 2026,” he said.
Yilwatda emphasized that the APC would mobilise human and material resources across the state, with governors from the South-West, South-South and South-East each taking responsibility for a senatorial district alongside National Assembly members, House of Assembly members and local government chairmen, while governors from the North would also deploy their local government chairmen, councillors and lawmakers for grassroots campaigns.
The APC National Chairman described the Osun election as a litmus test for the party’s preparedness for the 2027 general election, saying it would serve as a rehearsal for the political machine being built for that contest.
Governor Uba Sani of Kaduna State has nominated Jerry Adams, the Executive Chairman of the Kaduna State Internal Revenue Service (KADIRS), as his running mate for the 2027 governorship election.
This development came to fore after wide consultations, deep reflection and earnest prayers, I am delighted to announce the nomination of Mr Jerry Adams, FCTI, FNIM, CNA, as my running mate in the 2027 Governorship Election,” the governor wrote on his X handle on Tuesday.
The nomination marks the first time in seven years that the ruling All Progressives Congress (APC) has fielded a Christian as its deputy governorship candidate in Kaduna State, signalling a departure from the party’s Muslim-Muslim governorship tickets in the 2019 and 2023 elections.
According to the governor, the nomination reflects his administration’s commitment to inclusion, justice, fairness and equitable representation across the state.
“This decision is far greater than the selection of a deputy governorship candidate. It is a reaffirmation of the values that have guided our administration since I took the oath of office on 29 May 2023; the values of inclusion, justice, fairness, equity and the unwavering conviction that every citizen of Kaduna State deserves a genuine sense of belonging,” the governor said.
Politics
Alleged plot to use SWV for campaign: Ghost of Atiku’s sordid past haunting him, APC slams ADC’s presidential candidate
The All Progressives Congress (APC) has dismissed claims by ex-Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, that the 2026 Service-Wide Vote (SWV) was set aside to fund President Bola Tinubu’s 2027 re-election campaign, saying the ghost of his sordid past haunting him.
This was disclosed in a statement by APC National Publicity Secretary Felix Morka where described Atiku’s allegation as a sign of disturbing ignorance of basic public finance principles and calculated mischief.
Atiku had accused the Tinubu administration of using the Service-Wide Vote as an illegal slush fund for the 2027 election.
The All Progressives Congress (APC) has dismissed claims by former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, that the 2026 Service-Wide Vote (SWV) was set aside to fund President Bola Tinubu’s 2027 re-election campaign.
In his response ,Morka said Atiku failed to provide any evidence to support the allegation.
He explained that “A Service-Wide Vote is a long-established and widely used budgetary mechanism designed to cater for government-wide obligations and unforeseen expenditures that arise after the annual budget has been passed.”
“It is not a secret fund or an illegal slush account, as Atiku has baselessly and recklessly alleged.”
The APC said the SWV is a normal budgeting practice used in many countries and argued that Atiku, as an experienced politician, should understand how it works.
The ruling party also accused the former vice president of trying to tarnish the image of the Tinubu administration.
The ghost of his sordid past haunts Atiku,” the statement said, adding that he was attempting to attack an administration it described as successful.
The APC pointed to several government programmes under the Renewed Hope Agenda, including the Nigerian Education Loan Fund (NELFUND), the new national minimum wage, the Consumer Credit Scheme and the Presidential Compressed Natural Gas (CNG) initiative, as examples of the administration’s achievements.
The party maintained that Nigerians can distinguish between political accusations and the government’s performance, insisting that President Tinubu remains focused on economic reforms, tax relief for low-income earners and stabilising the economy ahead of the 2027 elections.
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