Politics

ADC Slams Tinubu Over Mounting Debts, Demands Audit

Published

4 months 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

PDP Issues Certificate Of Expulsion To Wike, Fayose, Anyanwu, Others

Published

1 day ago

December 3, 2025

Editor

The Peoples Democratic Party (PDP) said it has issued certificate of expulsion from the party to the Minister of the Federal Capital Territory, Nyesom Wike, and other 10 members earlier expelled from the party.

The party National Chairman, Tanimu Turaki, disclosed this while speaking with newsmen after the PDP National Working Committee (NWC) meeting in Abuja on Tuesday.

The other members, according to him, include the embattled National Secretary, Sen. Samuel Anyanwu, the Legal Adviser, Kamarudeen Ajibade, former Governor of Ekiti State, Ayodele Fayose.

They also included Sen. Mao Ohuabunwa, Austin Nwachukwu, Abraham Amah Nnanna, George Turna and Chief Dan Orbih, expelled during the party National convention in Lagos.

Turaki said that the original copies of the certificate had been dispatched to the owners through a courier service to serve as proof that they were expelled from the PDP.

“We have taken note of the fact that Nigerian law frowns on dual membership of political parties, and so we have sought to make it easy for them.

“Now that they are no longer members of our party, and now that the National Convention, which is the highest decision-making organ of our party, has expelled them, we have decided to issue them certificates of expulsion.

“So, when they go to register with other political parties in Nigeria, they will show these certificates as proof that they are no longer members of the PDP.

“By that, those parties will not accuse them of trying to belong to more than one political party,” he said.

He called on the Independent National Electoral Commission (INEC) and security agencies, including the Nigeria Police, the Department of State Services, and other government agencies, to take note.

“Very soon, members of the society will be informed via proper disclaimers that any person henceforth who decides to do business with them, any or all of them, does so at his or her own risk.

“They are no longer members of the PDP. They have been expelled,” he added.

He added that the NWC also reviewed some of the cases filed against the party and lawsuits instituted by the party, particularly the one that related to the “unlawful and illegal” closure of the party’s national Secretariat, the Legacy House, and the Wadata Plaza.

“The brief we received from our lawyers is that we are on sound ground, and that very soon, the law will take its course,” he said.

Turaki said the NWC was prepared to be saddled with the responsibility of performing its functions as the leading opposition party in Nigeria.

“We are going to provide a credible alternative to Nigerians. We are going to provide credible leadership to Nigerians by the special grace of God from 2027,” he said.

Politics

Adebayo Adedamola Wins Osun PDP Governorship Primary

Published

3 days ago

December 2, 2025

Editor

Adebayo Olugbenga Adedamola, popularly known as FRYO, has emerged as the Peoples Democratic Party, PDP, candidate for the August 8, 2026 governorship election in Osun State.

The primary election took place in Osogbo on Tuesday amid heavy security presence.

Announcing the result, chairman of the primary election committee, Humphrey Abba, stated that Adebayo secured 919 votes out of 957 accredited ballots, giving him a clear victory in the contest.

Explaining that there were 20 void votes following the withdrawal of one of the candidates, believed to be Governor Ademola Adeleke, Abba added, “The candidate that got the remaining votes is Adebayo Adedamola with 919 votes and he stands elected and returned.”

DAILY POST reports that despite announcing his resignation from the party, Adeleke’s name appeared on the ballot paper for the PDP governorship primary.

Party officials said the exercise was conducted in accordance with established guidelines, with accredited delegates participating in the voting process.

Adeleke announced his resignation in a letter dated November 4, 2025, and addressed to the PDP leadership at his ward.

On Monday, Osun PDP chairman, Sunday Bisi, had announced that the governorship primary slated for Tuesday, December 2, 2025, has been postponed due to leadership crisis at the national level.

But a faction of the party went ahead with the exercise in Osogbo on Tuesday.

Politics

Gov Adeleke Resigns From PDP

Published

3 days ago

December 2, 2025

Editor

Osun State Governor, Ademola Adeleke, has resigned from the Peoples Democratic Party (PDP) ahead of the 2026 gubernatorial primaries of the party.

Adeleke’s resignation letter, dated November 4, 2025, sighted by Tribune Online was addressed to the PDP ward chairman for Ward 2, Sagba Abogunde, Ede, Osun State.

According to the letter, the governor’s resignation was based on “the current crisis of the national leadership of the People’s Democratic Party (PDP).”

According to the letter, titled: “Resignation of my membership of the People’s Democratic Party (PDP)’ read, “Due to the current crisis of the national leadership of the People’s Democratic Party (PDP), I hereby resign my Membership of the People’s Democratic Party with immediate effect.

“I thank the People’s Democratic Party for the opportunities given to me for my elections as a Senator (Represented Osun West) and as Governor of Osun State under the People’s Democratic Party.”