The National Democratic Front (NDF) has accused the African Democratic Congress (ADC) of distorting Nigeria’s economic reality in a bid to score cheap political points and remain relevant in the national conversation.
In a statement signed by its National President, Dr Ghalil Nasir, and made available in Abuja on Monday, the NDF described the ADC’s criticism of President Bola Ahmed Tinubu’s borrowing strategy as “dishonest, misleading, and politically motivated.”
“The African Democratic Congress is weaponising economic statistics without proper context,” said Dr Nasir. “It is shameful that a party with no seat in the National Assembly and no meaningful policy record is attempting to mislead the public on complex economic issues.”
He argued that President Tinubu inherited a severely damaged economy from the previous administration, marked by ₦87.3 trillion in public debt, over ₦4 trillion in unpaid fuel subsidy obligations, a chaotic foreign exchange regime, and inflation of 22.4%.
“To stabilise such an economy without external financing would have meant shutting down capital spending and punishing the poorest Nigerians,” Nasir explained. “What the President did instead was to act boldly. He pursued concessional and targeted borrowing focused on infrastructure and economic competitiveness.”
He dismissed comparisons between Tinubu’s administration and that of former President Muhammadu Buhari as lacking economic nuance.
“While Buhari’s loans were largely directed toward recurrent spending and subsidy retention, Tinubu’s borrowing is strategic and capital-focused,” he said. “These are not vanity loans. They are carefully structured investments with long-term national returns.”
Dr Nasir further noted that the bulk of the loans secured under Tinubu are project-linked, transparent, and tied to institutions such as the African Development Bank and the World Bank entities known for strict conditions and due diligence.
“It is dishonest to compare debt across time in naira without accounting for inflation and exchange rate realities,” he said. “What matters is not how much we borrow, but what the funds are used for — and the Tinubu administration is using them to build roads, power, and rail infrastructure.”
He referenced recent economic indicators showing improvement under Tinubu’s leadership, noting that Nigeria recorded $3.9 billion in portfolio inflows in Q1 2025 the highest in five years and that international institutions have endorsed the administration’s reform agenda.
Responding to the ADC’s claim that Nigeria is headed for a ₦200 trillion debt crisis, the NDF described the assertion as “irresponsible fear-mongering.”
“The real question is whether we are borrowing wisely and transparently,” Nasir stated. “And under President Tinubu, the answer is yes.”
He also challenged the ADC to name a single national project or reform initiative it has successfully championed since its formation.
“Their record is empty, but they’re always first to criticise. Leadership requires more than press statements — it demands action and ideas, both of which the ADC sorely lacks.”
The NDF urged Nigerians to remain alert to what it called “destructive politics masked as activism,” warning that attempts to undermine public confidence in the country’s economic direction could end up hurting the average citizen.
“Let the ADC bring ideas, not empty noise,” Nasir said. “President Tinubu must stay focused. He is on the right path. Nigerians can see it, and the world is taking notice.
