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SDP Presidential Candidate, Adebayo Promises To Clear Nigeria’s ₦77trn Debt In Three Budget Cycles

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The presidential candidate of Social Democratic Party (SDP), Prince Adewole Adebayo, has promised to clear the ₦77 trillion debt Nigeria is presently owing within three budget cycles.

According to him, he’s not afraid of inheriting the N77 trillion debt which would be left by the present government.

Adebayo stated this in an online interview, telling Nigerians not to be worried about the failure by the President Muhammadu Buhari-led administration that hired “an unimaginative team to head the Central Bank of Nigeria and create debts rather than adequately managing the economy.”

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Speaking further, he said he does not see liability in Nigeria as he prepares to activate the various assets of the nation to turn around the grim situation to one of international envy.

READ ALSO: SDP Presidential Candidate, Adebayo Takes Campaign To Edo North, Promises Seaport In Agenebode

Adebayo told said that he decided to contest for the presidency of Nigeria because of the myriad of challenges facing the country, which, in his view, are no challenge at all given the huge assets which abound in the country.

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In his words: “I knew these problems before I declared to run. In fact, if these problems were not there, I would not have taken an interest in running.

“When you have a debt profile that is put at N77 trillion, you are looking at the debt side, what about the asset side?

“When I take my oath of office, I am not just inheriting the debt, I am inheriting 220 million people, I am inheriting entrepreneurs.

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“Nigerians are so lively, highly energetic and ready to work. I am inheriting the largest gas reserve. I am inheriting a vast agricultural land.

“I mean everything, all other things, solid minerals and all other assets. so the debt is so small when compared to the assets that we have. So, what I will do is, look at the structure of our debt.

“If I push our revenue up by 32 %, we will be fine but the window of pushing our revenue up is about 300 percent. And if I push down the wastage and the corruption by three-quarters 75% with some saving pockets here and there. And do some mop-up. I think that Nigerians would not even remember that we have a debt profile at all.

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“We will retire the debts within three budgets, the debt will be insignificant and the people will get employment if I get 30 million jobs added to the workforce. The taxation on Pay As You Earn alone will wipe this debt off.

“If I get agriculture productivity in four belts in the country, lower Kebbi upper Niger, in Southern Kaduna Plateau axis, if I get agriculture in Oke-Ogun, part of South-West Nigeria and do Agriculture in Benue that will significantly deal with the problem.

“I don’t worry about that. It is not the load that kills but how you carry it. So, these debts represent a deficit of imagination, a deficit of creativity, and a deficit of competence. Why I said so is not because I am in the mood to insult anybody.

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“I said so because their original sin is not managing our revenue accruals very well because they didn’t manage revenue accruals due to three problems that they have created for themselves including the fact that they don’t have the competence to do an appraisal of revenue profile and capture all the revenue subheads and govern all the revenue sub-head prudently.

“Secondly, they are tardy in administration and supervision. So many leakages even within the one they captured.

“Thirdly, they have collected campaign funding and other support from those who are benefiting from leakages and blind spots.

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“So in order to keep their friends happy with them, the so-called political structures, they have created no-go areas. As a result of that, they are not able to capture enough revenue.

“Because they have hired an unpatriotic and unimaginative Governor of the Central Bank, so they’re able to create debts, like a drunken sailor and turned the apex bank into a casino. That is why they have all these crises.“

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Ambassadorial Nominees: Ndume Asks Tinubu To Withdraw List

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Ahead of the Senate’s screening and confirmation of the ambassadorial nominees sent to the Red Chamber by the Presidency, former Senate Leader Ali Ndume has appealed to President Bola Tinubu to withdraw the list from parliament.

The federal lawmaker declared that the composition of nominees was in clear breach of the Federal Character principle, as enshrined in the Constitution.

Checks revealed that while certain states have three and four nominees, states like Gombe have no representation, while the only nominee from Yobe, Senator Adamu Garba Talba, died last July.

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The entire North East state has 7 nominees in the list.

Further checks revealed that the South West geopolitical zone has 15 nominees, while the North West and South East have 13 and 9, respectively.

READ ALSO:Full List: FG Releases Names Of 68 ambassadorial Nominees Sent To Senate For Confirmation

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North Central region has 10 nominees in the list of career and non-career ambassadorial nominees, while South South region has 12 nominees.

The Senate President at plenary on Thursday formally read the list of nominees and referred it to the Senate Committee on Foreign Affairs for further legislative action.

The Senator representing Borno South in a statement issued on Saturday maintained that the list of nominees was in clear breach of Section 14(3) of the Nigerian Constitution which mandates that the composition and conduct of the federal government must reflect the “federal character of Nigeria” to ensure national unity and loyalty.

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The section reads: “The composition of the Government of the Federation or any of its agencies and the conduct of its affairs shall be carried out in such a manner as to reflect the federal character of Nigeria and the need to promote national unity, and also to command national loyalty, thereby ensuring that there shall be no predominance of persons from a few State or from a few ethnic or other sectional groups in that Government or in any of its agencies.”

READ ALSO:Tinubu Submits Fresh Ambassadorial List To Senate, Ibas, Dambazau Make Cut

The former Chief Whip of the Senate admonished President Tinubu to avoid taking decision that will fuel ethnic tension and promote distrust in the country, amidst the wrong narrative being promoted by the Western world against his administration.

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He said: “My sincere appeal to President Tinubu is to withdraw this list. At this critical time in the life of his administration, he should avoid missteps that could endanger national unity and promote ethnic distrust.

“I know him to be a cosmopolitan leader who is at home with every segment and stakeholders in the country.

“He should withdraw that list and present a fresh set of nominees that will align with the spirit of the Constitution on Federal Character Principle that government’s structure and operations must represent the diverse states and peoples of Nigeria.”

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

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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.

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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.

READ ALSO:BREAKING: Drama As Wike-backed PDP Expels Makinde, Mohammed, Dauda

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.

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“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.

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

READ ALSO:JUST IN: PDP Axes Wike, Fayose, Anyanwu, Others For Anti-party Activities

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.

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“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.

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READ ALSO:Protest Rocks PDP National Secretariat As Wike-led Faction Takes Over

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.

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“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.

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Adebayo Adedamola Wins Osun PDP Governorship Primary

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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.

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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.”

READ ALSO:Davido Reacts As Gov Adeleke Dumps PDP

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

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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.

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

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