The African Democratic Congress has criticised President Bola Tinubu’s 2026 budget proposal, saying it could push Nigeria deeper into debt and place heavy financial pressure on future generations.
The opposition party made its position known in Abuja after reviewing the budget proposal submitted by the president to the National Assembly. According to the ADC, the spending plan shows weak fiscal control and a growing reliance on borrowing rather than clear solutions to Nigeria’s economic problems.
The party said the government’s description of the proposal as a plan for stability and shared growth does not match the content of the budget. It argued that the document largely follows the pattern of previous budgets for 2024 and 2025, which, in its view, were poorly carried out and failed to achieve their targets.
The ADC raised concerns about what it described as confusion in fiscal planning, noting that the federal government is still dealing with multiple budgets at the same time. It said this approach reflects poor coordination and an unwillingness to deal directly with long-standing economic issues.
On revenue projections, the party questioned the steady rise in expected income figures over the past three years. It noted that government revenue increased in 2024 mainly due to currency changes, then doubled in 2025 and rose further in the 2026 proposal. The ADC said these projections do not reflect current economic realities.
The party also criticised the oil price benchmark used in the budget, warning that global oil market conditions make the assumptions risky. It added that the projected revenue figure ignores possible downturns and depends too heavily on uncertain conditions.
Another major concern raised by the ADC is the size of the proposed budget deficit. The party said the plan to borrow about ₦24 trillion against projected revenue of ₦34 trillion shows a serious imbalance in government finances. According to the ADC, such a wide gap between income and borrowing is unhealthy for any economy.
The party further pointed to rising debt servicing costs, which it said have continued to grow yearly and now take a large portion of government spending. It warned that increasing loan repayments could limit funds available for development and social services.
The ADC concluded that continuing to fund government activities mainly through borrowing could leave future Nigerians with heavy debt burdens and fewer economic opportunities.