ADC Accuses FG Of Running A Ponzi Economy
The African Democratic Congress on Thursday criticised the Federal Government over its plan to secure a fresh $1.25bn World Bank loan, saying the move shows a worrying pattern of rising debt under President Bola Tinubu’s administration.
The party said the country’s debt profile, now put at about N159.28tn, is placing heavy pressure on citizens already facing economic hardship.
The opposition party said the borrowing trend reflects what it described as a system where new loans are used to manage old obligations, leaving little room for real economic recovery.
It added that despite ongoing reforms, Nigerians continue to face higher food costs, inflation, job losses and weak business conditions.
The ADC also warned that Nigeria’s debt servicing plans for 2026 could take away funds meant for development.
It said major spending on loan repayments would reduce investment in key sectors such as health, education, infrastructure and job creation, worsening living conditions for many households.
The party further faulted the National Assembly for approving large borrowing requests without strong checks, while insisting that repeated loans without visible improvement in public welfare show poor economic direction.
It urged a rethink of the country’s borrowing strategy to avoid deeper financial strain on future generations.
