BY AHMED AKANBI
The Nigeria Democratic Congress (NDC), has slammed President Bola Tinubu over his latest request for a $7.7 billion external loan, warning that Nigeria’s mounting debt is mortgaging the future of generations yet unborn.
The party said the frequency of the Federal Government’s borrowing has raised serious concerns about the country’s financial future, and urged Nigerians to demand accountability at the ballot in the 2027 general elections.
The reaction followed Tinubu’s request to the National Assembly for approval to borrow $7.7 billion, about N10.79 trillion, to partly finance the 2026 budget deficit.
In a statement on Thursday, the party’s National Presidential Campaign Council spokesperson, Dr Chiogo Constance Ikokwu, described the request as yet another example of the administration’s addiction to borrowing.
Ikokwu accused the National Assembly of failing to properly scrutinise the President’s loan requests, alleging lawmakers had already endorsed them before formal consideration.
She warned that growing debt obligations would burden future generations if government continued to rely heavily on borrowing to run the country.
The NDC urged Nigerians not to lose hope, insisting the ballot remained a powerful tool for demanding accountability from political leaders.
It called on voters to support its presidential candidate, Peter Obi, and his running mate, Rabiu Musa Kwankwaso, in the January 16, 2027 election.
The party cited the November 4 elections in the United States, urging Nigerians to emulate American voters by participating actively in the democratic process despite economic hardship.
It said citizens should use their votes to demand a government committed to transparency, accountability and prudent management of public resources.
The party maintained that Nigeria’s economic future must not be put at risk through unsustainable borrowing and poor management of public funds.