ADC Slams Tinubu Over $21bn Foreign Loan: Warns of Debt Trap

The African Democratic Congress (ADC) has criticized President Bola Tinubu for what it called “fiscal vandalism”, following the National Assembly’s approval of an additional $21 billion in foreign loans.

Debt Concerns:
The ADC warned that Nigeria’s public debt could exceed ₦200 trillion by the end of 2025, without visible economic development or infrastructure to justify the borrowing.

Harsh Comparison to Buhari:
The party accused Tinubu’s administration of being worse than Buhari’s in terms of loan accumulation.

Under Buhari: Average borrowing = ₦4.7 trillion annually
Under Tinubu: Borrowing has surged to ₦49.8 trillion annually
Strong Accusation:

> “This is a calculated decision to mortgage the country’s future just to cover up the failures of today,” – ADC spokesman Mallam Bolaji Abdullahi