TDThe African Democratic Congress (ADC) has expressed grave concern over the Tinubu administration’s relentless borrowing spree, describing Nigeria’s current economic trajectory as a “Ponzi economy.”
The party’s alarm follows the government’s latest request for a fresh $1.25 billion World Bank loan.
The request came barely weeks after the National Assembly approved another round of external borrowing worth billions of dollars.
ADC noted that Nigeria’s total public debt has now surged to N159.28 trillion, yet citizens continue to grapple with worsening living conditions.
Food prices are rising daily, electricity tariffs have increased, the naira remains weak, and businesses are shutting down.
Also, insecurity is spreading and millions of young Nigerians remain unemployed.
“Families are cutting down on meals, manufacturers are struggling to survive, and small businesses are collapsing under the weight of inflation and poor economic conditions.
“This is why the ADC says the Tinubu administration is running a Ponzi economy, where new loans are constantly being taken to service old debts and cover fiscal failures, while ordinary Nigerians are left to carry the burden,” the statement read.
The ADC further highlighted President Bola Tinubu’s own admission that Nigeria will spend about $11.6 billion (over N15 trillion) on debt servicing alone in 2026.
According to the party, this means trillions of naira that should have been invested in roads, hospitals, schools, electricity, security, agriculture, and job creation will instead be diverted to creditors.
The party criticized the administration’s reliance on acronyms such as ARMOR, RESET, HOPE, and SPIN to justify repeated borrowing.
It argued that these initiatives have failed to deliver measurable improvements in the lives of Nigerians.
ADC also faulted the National Assembly for acting as a “rubber stamp,” approving massive borrowing requests with little resistance or scrutiny.
Meanwhile, debt servicing consumes an unsustainable portion of government revenue.
“Nigeria cannot continue mortgaging the future of unborn generations simply to keep the present administration politically afloat.
“At some point, somebody will pay for all this borrowing.
“Sadly, ordinary Nigerians are already paying through hunger, inflation, unemployment, business closures, and a collapsing standard of living,” the party warned.
The ADC concluded by presenting its alternative vision for Nigeria: a leadership focused on:
- production,
- security,
- industrialization,
- agriculture,
- stable electricity,
- support for local businesses, and,
- real job creation.













