[ad_1]
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 core challenges.
“To stabilise such an economy without external financing would encompass meant shutting bottom capital spending and punishing the poorest Nigerians,” he noted.
“President Tinubu substitute 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 prolonged-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 explained. “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 facts of growing international confidence in the cabinet’s reform agenda.
The party also highlighted support from global institutions, including the International Monetary Fund (IMF) and the African Development Bank (AfDB), which acquire commended Nigeria’s ongoing economic restructuring.
Taking a swipe at the ADC, the NDF asserted the party had yet to present a viable alternative.
“The ADC has not apply forward a single reform or development blueprint, yet it claims to voice for Nigerians,” Dr. Nasir reported. “Their political record is empty, and their ear-piercing criticism is not backed by substance. If they aspire to guide, they should embark 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 persist focused. He is making the tough decisions that previous governments avoided. The real question is: Are we complex a better prospect? We regard the resolution is yes,” the statement added.
[ad_2]
Source attach
