The African Democratic Congress (ADC) has raised concerns about the Nigerian government’s recent approval to borrow ₦1.15 trillion from domestic sources. The party described the move as reckless, warning that it could worsen the country’s debt situation.
The criticism came shortly after the Senate approved President Bola Tinubu’s request for the loan to cover a shortfall in the 2025 national budget. The ADC argued that the borrowing contradicts claims by the government that Nigeria had exceeded its non-oil revenue targets, reportedly generating over ₦20 trillion in the first eight months of 2025.
The opposition party stated that if all borrowing requests for 2025 were granted, Nigeria’s total public debt could rise to around ₦193 trillion, a figure they warned would place heavy strain on the economy. The party also expressed concern over rising living costs and inflation, suggesting that the government’s borrowing would add to the economic difficulties facing ordinary Nigerians.
ADC called on civil society groups, the international financial community, and citizens to demand stricter fiscal discipline. The party urged a freeze on non-essential loans, full transparency on all government revenue and spending, and the establishment of a legally binding debt ceiling to prevent further misuse of public funds.
The government’s borrowing plan forms part of the 2025 Appropriation Act, which sets total expenditure at nearly ₦60 trillion, leaving a budget deficit of about ₦14 trillion. Of this, approximately ₦13 trillion had already been approved for borrowing, with the latest ₦1.15 trillion bridging the remaining gap.
Lawmakers supporting the borrowing argued that the funds were needed to maintain fiscal stability and complete essential projects. However, economists and opposition parties have warned that continued borrowing could push Nigeria’s debt levels into unsustainable territory, raising concerns about the country’s long-term financial health.