NDF Slams ADC Over Debt Criticism, Defends Tinubu’s Economic Strategy

The National Democratic Front (NDF) has strongly rebuked the African Democratic Congress (ADC) for accusing President Bola Tinubu’s administration of plunging Nigeria into a deepening debt crisis.

In a statement issued Monday in Abuja, NDF’s National President, Dr. Ghalil Nasir, described the ADC’s claims as “dishonest, misleading, and politically motivated,” asserting that the Tinubu administration inherited an economy already in disrepair.

“The ADC is weaponizing economic statistics without context,” Nasir said. “It is shameful that a party with no seats in the National Assembly and no policy record is trying to distort the narrative for political survival.”

Nasir outlined the economic conditions inherited by the current administration, including a public debt of ₦87.3 trillion, over ₦4 trillion in outstanding fuel subsidy arrears, a distorted multiple exchange rate system, and an inflation rate of 22.4%.

He argued that to stabilize the economy without external support would have meant halting capital projects, which would disproportionately affect ordinary Nigerians. Instead, the Tinubu government, he said, has opted for strategic borrowing tied to infrastructure and long-term development.

“These are not vanity loans,” Nasir said. “They are targeted at energy transition, road construction, rail, and economic modernization — areas that will yield long-term returns.”

He also criticized the ADC for making simplistic comparisons between Tinubu and former President Muhammadu Buhari’s borrowing patterns. According to Nasir, while much of Buhari’s borrowing went to subsidies and recurrent spending, Tinubu’s loans are project-linked and focused on capital development.

“Debt should be judged not by its size alone, but by how it is used,” he added, noting that recent global responses, including praise from the IMF and African Development Bank, support the administration’s reform agenda.

Nasir also pointed to a record $3.9 billion in portfolio inflows in Q1 2025 — the highest in five years — as evidence of investor confidence in Nigeria’s direction.

Responding to ADC’s warning that Nigeria could face a ₦200 trillion debt burden, the NDF accused the party of fear-mongering and lacking credible policy alternatives.

“The real question is whether we are borrowing smartly and investing for growth. Under Tinubu, the answer is yes,” Nasir said. “The ADC should present solutions, not just criticisms. Their record in governance is nonexistent.”

The NDF concluded by urging Nigerians to stay focused on facts rather than “destructive politics disguised as activism,” and encouraged President Tinubu to remain undistracted.