Politics

ADC Slams Tinubu Over Mounting Debts, Demands Audit

Published

4 weeks ago

July 27, 2025

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.

Politics

US Desperate To Remove You, Cleric Warns Tinubu

Published

9 hours ago

August 23, 2025

Editor

The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has warned President Bola Ahmed Tinubu again regarding the vice president, Kashim Shettima, and his 2027 second-term ambition, while also stating that America is “desperate to remove” the president.

Primate Ayodele, in a statement signed by his media aide, Osho Oluwatosin, warned Tinubu not to drop Shettima as his running mate, noting that even if the VP offends the president, he should settle it for his own good.

He explained that an attempt to bring another person on board would be a “huge minus” and would “destroy his chances and bring unnecessary enemies to him.”

“Dropping Shettima will cause trouble for you; those who want him out are your enemies who don’t want you to succeed. Anything that Shettima might have done, forget it, and let’s move the country forward,” the cleric advised.

Politics

I’m Not Ready To Go Into The Gutters With Anyone – Makinde

Published

2 days ago

August 21, 2025

Editor

Oyo State Governor, Seyi Makinde, on Thursday, said he is not ready to “go low with anyone who decides to go into the gutters.”

He made this statement while addressing journalists shortly after the South-West zoning consultative summit of the Peoples Democratic Party, held in Lagos.

He said, “Personally, when people go low or go into the gutters, I don’t go with them. Some people are now going into the gutters. We will reach out to them. That is democracy.

“I can disagree with people, but there shouldn’t be anything personal here. It should be about what we are giving to Nigerians because they are watching.”

The governor added that despite challenges, recent elections had shown that the PDP remained a formidable force.

“In all our states, they showed last Saturday that PDP is not dead. In most other places of the 12 states, PDP came second. It is an indication to us that if we continue to work hard, we can reclaim the confidence of Nigerians,” he said.

When asked about discussions on zoning of the PDP presidential ticket to the South, Makinde said the party was not yet at that stage.

“We haven’t even gotten there. We need to have a party first before you start talking about presidential candidates. If we don’t have a party, anything you are trying to do will fall flat.

“Our efforts right now are directed towards having a vibrant and united PDP that Nigerians will be proud of and believe in again,” he said.

Dignitaries at the meeting include the Chairman of PDP Board of Trustees, Adolphus Wabara, Chairman of the party’s National Zoning Committee and Bayelsa state governor, Douye Diri; Governors Ademola Adeleke of Osun state, Peter Mba of Enugu State, represented by his deputy, Ifeanyi Ossai; former Osun Governor, Olagunsoye Oyinlola; Bode George; and Monsurat Sunmonu.

Others were 12 of the 17 PDP National Assembly members and key stakeholders of the party from across the southern states.

Politics

2027 Presidency: Idahosa Reiterates Okpebholo’s Promises Of Delivering Edo To Tinubu

Published

4 days ago

August 19, 2025

Editor

Edo State deputy governor, Hon. Dennis Idahosa on Tuesday reiterated the promise of Governor Monday Okpebholo of delivering the state to President Bola Tinubu and the All Progressives Congress (APC) in 2027.

The deputy said that the just concluded by-elections in the state was an affirmation of that promised made by his principal.

Idahosa stated this in a press statement sogned by his Chief Press Secretary, Mr Friday Aghedo, and made available to newsmen.

He said Okpebholo did not just make the promise of delivery the state to the APC, but that Edo will secure 2.5m votes for the President in 2027.

He commended the leadership of the party across Ovia federal constituency for their providing the leadership that made a APC victorious on Saturday.

He, however, noted that there was more room for improvement ahead of the 2027 general elections.

According to him, “after the victory, we called the leadership of the Ovia federal constituency to review and evaluate our performance at the poll, to observe areas where we need to work on next time.

“The bye-election was a litmus test for the 2027 presidential election. We are fully ready.”

Idahosa also used the opportunity to sensitize the people on the ongoing continuous voters registration and revalidation process by the Independent National Electoral Commission (INEC).

He also reeled out measures in place by the party to get new registered members for the exercise when commenced on Monday.

“We are going to constitute subcommittees to mobilize people who have not yet registered to enable us actualize on the promised votes to the president,” he said.

Meanwhile, the House of Representatives member elect, Omosede Igbinedion, promised to deliver on her campaign promises to the people.

“Ovia Federal Constituency should expect nothing but the best, in terms of representation and also in terms of developmental strides.

“We will come through, in anything we can do, from the federal level to complement the governor, Senator Monday Okpebholo, and the tremendous work he is doing at the state.

“Ovia is looking very bright. The deputy governor, Dennis Idahosa, has laid a good foundation we will build upon that foundation,” she said.