The African Democratic Congress (ADC) has dismissed President Bola Tinubu’s claims of record-breaking revenue growth, calling them false and disconnected from the struggles of ordinary Nigerians
In a statement released Thursday by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party argued that the government’s reported N20.59 trillion revenue between January and August 2025 falls short of the N41.81 trillion projected in the 2025 budget. The ADC described the figures as “propaganda,” stressing that only 52.68% of statutory revenue and 15% of VAT actually go to the Federal Government.
The party also faulted Tinubu’s remarks on the naira exchange rate, insisting that his claim of inheriting a dollar rate of N1,900 was “patently false.” It noted that as of May 29, 2023, the official rate stood at about N460.72, while the parallel market hovered between N700 and N800.
On the issue of borrowing, the ADC accused the administration of dishonesty, pointing out that the Debt Management Office recently raised N136.16 billion through bond auctions and that the National Assembly approved a $21 billion loan in July, raising Nigeria’s debt profile to $120 billion.
The party further condemned the introduction of a 5% petrol tax and a 300% hike in passport fees, describing them as “cruel and insensitive.”
“The Tinubu administration is taxing the very survival of the people, monetising hardship, and celebrating suffering as success,” the ADC stated.
The party maintained that rather than lifting Nigerians out of poverty, government policies have deepened hardship, leaving the country firmly entrenched as the “poverty capital of the world.”
