The National Democratic Front (NDF) has accused the African Democratic Congress (ADC) of politicising Nigeria’s debt profile and misrepresenting the Tinubu administration’s borrowing strategy.
In a statement issued on Monday in Abuja, the NDF described recent ADC claims—that the Tinubu administration is plunging the country into unsustainable debt—as “dishonest and misleading.”
The statement, signed by NDF President Dr. Ghalil Nasir, dismissed the ADC’s remarks as a “desperate bid for relevance” from a party with no elected representatives or tangible policy contributions.
According to Dr. Nasir, President Bola Tinubu inherited a battered economy, citing a public debt of over ₦87 trillion, fuel subsidy arrears exceeding ₦4 trillion, and a fractured foreign exchange system as key challenges.
“To stabilise such an economy without external financing would have meant shutting down capital spending and punishing the poorest Nigerians,” he said.
“President Tinubu instead chose a path of reforms backed by targeted borrowing. These are not vanity projects — they are infrastructure-linked, strategic investments intended to reset the economy.”
The NDF argued that comparing Tinubu’s debt policy to that of former President Muhammadu Buhari without proper context was “economically simplistic.”
It stated that much of the borrowing under Buhari went into recurrent expenses and subsidy payments, whereas Tinubu’s borrowing is geared toward long-term development.
“Most of these loans are tied to specific projects in transport, power, and energy transition,” the NDF noted.
“They are also monitored by multilateral institutions with strict disbursement rules, ensuring transparency and accountability.”
Dr. Nasir dismissed the ADC’s projection of a ₦200 trillion debt burden as alarmist and unsubstantiated, emphasising that the focus should be on the quality of spending, not nominal debt levels.
“What matters is not how much is borrowed in naira terms, but what the funds are used for,” he said. “This administration is borrowing to invest, not to consume.”
Citing improved investor sentiment and rising capital inflows, the NDF referenced a reported $3.9 billion in portfolio investment recorded in Q1 2025 — the highest in five years — as evidence of growing international confidence in the government’s reform agenda.
The group also highlighted support from global institutions, including the International Monetary Fund (IMF) and the African Development Bank (AfDB), which have commended Nigeria’s ongoing economic restructuring.
Taking a swipe at the ADC, the NDF said the party had yet to present a viable alternative.
“The ADC has not put forward a single reform or development blueprint, yet it claims to speak for Nigerians,” Dr. Nasir said. “Their political record is empty, and their loud criticism is not backed by substance. If they want to lead, they should start by offering ideas, not outrage.”
The NDF urged Nigerians to remain vigilant against what it described as “destructive politics disguised as economic activism,” warning that sensationalist rhetoric could erode public confidence and stall national progress.
“President Tinubu must stay focused. He is making the tough decisions that previous governments avoided. The real question is: Are we building a better future? We believe the answer is yes,” the statement added.
