POLITICS
FG’s Fresh N1.15 Trillion Loan Request Exposes Tinubu’s Debt Addiction, Policy Contradictions – ADC
By Mike Odiakose, Abuja
The African Democratic Congress (ADC) has condemned the Federal Government’s fresh approval of N1.15 trillion in domestic borrowing, accusing President Bola Ahmed Tinubu of policy inconsistency and fiscal recklessness.
In a statement signed by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC noted that despite Tinubu’s public claim that Nigeria had met its non-oil revenue targets—reportedly N20.59 trillion by August 2025—the administration continues to deepen the country’s debt crisis.
Citing a report that Nigeria’s total public debt could rise to N193 trillion if all of Tinubu’s 2025 loan requests are approved, the party said the government was “borrowing against its own words” and failing to deliver meaningful relief to Nigerians still burdened by inflation and rising living costs.
According to the party, “the latest approval by the National Assembly of N1.15 trillion in fresh domestic borrowing by the APC-led Federal Government exposes the contradictions and dangerous fiscal trajectory of President Bola Ahmed Tinubu’s administration.
“Only a few months ago, the President himself declared that Nigeria had met and surpassed its non-oil revenue targets, generating N20.59 trillion in just the first eight months of 2025, a figure his media handlers and cabinet officials paraded as proof of sound economic management.
“Not long before that, the administration also promised Nigerians that domestic borrowing would be phased out, and that revenue growth would reduce the need to mortgage the nation’s future.
“Yet here we are again, watching this government take a contradictory and irresponsible detour from its own stated policy direction.
“As recently reported, if all of President Tinubu’s loan requests for 2025 are approved and disbursed, Nigeria’s total public debt could increase by N40.61 trillion, bringing the national debt stock to a staggering N193 trillion.
“This projection, based on verified figures from the Debt Management Office, reveals that as of June 30, 2025, Nigeria’s debt already stood at N152.4 trillion, with N80.55 trillion in domestic debt and N71.85 trillion in external liabilities.
“Let it be clearly stated: this is reckless debt accumulation wrapped in propaganda.
“A government that claims to have hit record-breaking revenue should not be borrowing.
“A government that promised an end to domestic loans should not be submitting back-to-back loan requests totaling trillions of naira.
“The APC-led government is suffering from a worsening case of economic policy schizophrenia, where the left hand borrows blindly while the right hand issues press statements about ‘fiscal prudence.’
“To add insult to injury, these loans are being pushed through by the APC-dominated National Assembly while everyday Nigerians are suffering from the rising cost of living.
“The Tinubu administration claims that headline inflation has dropped to 18.02 percent, and food inflation to 16.87 percent as of September 2025.
“Yet, in the open markets across the country, everything has become more expensive since Tinubu came into office.
“Make no mistake, Nigerians are not experiencing statistical relief — they are experiencing economic suffocation.
“President Tinubu must come clean to the Nigerian people. You cannot claim that your house is in order while taking new loans to stop the roof from collapsing.
“You cannot say revenue has improved and still insist on borrowing more than any administration in Nigeria’s history.
“As a responsible party, the African Democratic Congress (ADC) therefore calls on civil society organisations, the international financial community, and the Nigerian people to demand the following from President Tinubu:
“First, an immediate freeze on non-critical new loan approvals.
“Second, a full publication of all revenue inflows and debt disbursements for 2025.
“Third, an independent verification of non-oil revenue claims.
“Fourth, a legally binding debt ceiling to prevent this abuse of the national purse.
“Nigerians are watching as our collective future is being mortgaged. And the President must be reminded: we cannot borrow our way out of a crisis that is fuelled by economic incompetence.”
By David Torough, Abuja
President Bola Tinubu has signed the Appropriation (Amendment) (No. 4) Bill, 2025, extending the implementation period of the 2025 budget from September 30, 2026, to December 31, 2026.
The amendment was passed by the Senate and the House of Representatives on Tuesday, September 29, 2026, before being transmitted to the President for assent.
According to a statement issued on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the extension will give Ministries, Departments and Agencies (MDAs) additional time to complete ongoing capital projects.
The statement said the move would ensure that funds already appropriated are fully utilised without disrupting critical government programmes.
“The extension gives Ministries, Departments and Agencies more time to complete ongoing capital projects,” the statement said.
“It ensures that funds already appropriated are fully put to work for Nigerians, without disrupting critical programmes.”
Tinubu also commended the leadership and members of the National Assembly for what the statement described as the prompt consideration of the amendment.
The president said the development demonstrated continued cooperation between the Executive and Legislative arms of government in the interest of the country.
The amendment therefore allows the Federal Government to continue implementing the 2025 budget until December 31, 2026, instead of the earlier September 30 deadline.
President Bola Tinubu has submitted the 2026 Statutory Budget Proposal of the Niger Delta Development Commission (NDDC) to the House of Representatives for consideration and passage.
This is contained in a letter dated Aug.
20, 2026, addressed to the Speaker of the House of Representatives, Rep. Abbas Tajudeen and read by the Deputy Speaker, Rep. Benjamin Kalu at plenary on Tuesday in Abuja.In the letter, Tinubu said that the budget was prepared by the Minister of Niger Delta Development in line with the provisions of Section 121 of the 1999 Constitution.
According to him, the proposal was based on the NDDC’s revenue and expenditure forecasts and it aligned with the fiscal and developmental policies of the Federal Government and the Renewed Hope Agenda.
He said that the proposal also took into consideration the 2024–2026 Economic Recovery Growth Plan as well as key assumptions of the 2026 Appropriation Act of the Federal Government.
The President said the NDDC had prioritised programmes aimed at improving youth empowerment, energy and power supply, education, industrial and enterprise development, health and security.
He also listed increased agricultural productivity among the commission’s priorities, saying the interventions were intended to lift a significant number of citizens out of poverty.
Tinubu urged the House to give the proposal consideration and ensure its timely passage.
“I look forward to the timely passage of the 2026 Statutory Budget Proposal of the NDDC by the House of Representatives,” he said. (NAN)
By David Torough, Abuja
The Secretary to the Government of the Federation, Sen. George Akume, has charged Ministries, Departments and Agencies (MDAs) to translate the findings of the 2026 Transparency and Integrity Index (TII) into concrete improvements in their operations in order to strengthen accountability and public trust.
He gave the charge while delivering the keynote address at the presentation of the 2026 Transparency and Integrity Index held at the Auditorium of the Federal Ministry of Finance, Abuja.
The SGF said the administration of President Bola Tinubu, remains committed to open, accountable and responsible governance, stressing that public institutions must ensure that their policies, programmes and actions are transparent, visible and understandable to Nigerians.
According to him, the Index has become a vital instrument for assessing accountability, openness and ethical standards across government institutions, while providing MDAs with clear benchmarks to identify areas of strength and gaps requiring improvement.
He urged heads of MDAs to integrate the findings and indicators of the Index into strategic planning, performance management, budget priorities, procurement processes, staff training and digital disclosure rather than allow the report to become another document left unused.
“The report should not sit on the shelf and should inform management decisions, budget priorities, procurement processes, staff training, digital disclosure, and how you communicate with the public,” he said.
Akume emphasised that transparency should be viewed as an institutional asset rather than an administrative burden, noting that integrity must be embedded in the procedures and culture of public institutions through clear policies, proper record-keeping, effective oversight, ethical leadership and consequences for wrongdoing.
He further tasked MDAs to take advantage of technology by ensuring that their websites and data portals provide accurate, timely and user-friendly information, including current budget, contract and service information, to enable citizens to effectively engage government and track the utilisation of public resources.
The SGF explained that the 2026 TII assesses public institutions in five critical areas comprising fiscal transparency, open procurement and contracting, human resources and inclusion, control of corruption and citizens’ engagement, adding that the initiative complements existing public service reforms, anti-corruption measures and Nigeria’s Open Government Partnership commitments.
He noted that the ultimate objective of transparency and integrity should go beyond institutional rankings to building public institutions that Nigerians can understand, engage with and hold accountable, while safeguarding public resources and improving service delivery.
“The Federal Government remains fully committed to this goal. We will continue building institutions that are transparent, accountable, professional and responsive to the needs of the people,” the SGF said.
Akume commended the Bureau of Public Service Reforms (BPSR) and the Centre for Fiscal Transparency and Public Integrity (CeFTPI) for sustaining the initiative, while calling for stronger collaboration among government, civil society, professional bodies, development partners and the media in strengthening transparency and bringing corruption to its knees.
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