The African Democratic Congress (ADC) has condemned the Federal Government’s approval of a fresh N1.15 trillion domestic loan, accusing President Bola Ahmed Tinubu of fiscal recklessness and policy inconsistency.

In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC said Tinubu’s borrowing contradicts his administration’s own claims of record-breaking revenue generation.

“The latest approval of N1.15 trillion in new borrowing exposes the contradictions and dangerous fiscal trajectory of the APC-led government,” the statement read.

The party noted that despite Tinubu’s public boast of achieving N20.59 trillion in non-oil revenue by August 2025, the administration has continued to rely heavily on debt financing.

“If all the President’s 2025 loan requests are approved, Nigeria’s public debt could soar to N193 trillion,” the ADC warned, citing Debt Management Office figures showing total debt at N152.4 trillion as of June 2025.

The ADC accused the Tinubu administration of “economic policy schizophrenia,” saying, “The left hand borrows blindly while the right hand issues press statements about fiscal prudence.”

It faulted the National Assembly for rubber-stamping the loans amid widespread poverty and inflation, adding that government statistics about declining inflation are “a statistical illusion detached from reality.”

“Nigerians are not experiencing statistical relief; they are experiencing economic suffocation,” the statement said.

The ADC called for an immediate freeze on non-critical borrowing, publication of all 2025 revenue inflows and debt disbursements, and the establishment of a legally binding debt ceiling.

“President Tinubu must come clean with Nigerians,” the statement concluded. “You cannot borrow your way out of a crisis that your own policies created.”