ADC accused of distorting facts, politicising Nigeria’s debt to paint Tinubu black

The coalition-backed African Democratic Congress (ADC) has been accused of distorting facts and weaponising economic statistics to paint the President Bola Tinubu administration black.

The National Democratic Front (NDF) made the accusation while responding to a recent allegation by the ADC that the Tinubu administration has plunged Nigeria into an unsustainable debt crisis.

In a statement by its National President, Dr. Ghalil Nasir, on Monday, July 28, 2025, the NDF described the ADC’s claims as dishonest, misleading, and rooted in a desperate bid to stay politically relevant.

Nasir said it was unfortunate that the ADC, a party with no notable electoral mandate or policy record, has chosen to distort facts about Nigeria’s economic situation in order to malign an administration that is cleaning up years of structural decay and economic mismanagement.

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“The African Democratic Congress is weaponising economic statistics without context. It is shameful that a party with no seat in the National Assembly and no significant policy contributions is attempting to distort public discourse by attacking a reform-minded administration,” Nasir said.

He stated that Tinubu inherited an economy in dire straits: a public debt of ₦87.3 trillion, over ₦4 trillion in petrol subsidy arrears, a multiple exchange rate regime that created arbitrage, and an inflation rate of 22.4%.

“To stabilise such an economy without external financing would have meant shutting down capital spending and punishing the poorest Nigerians. Tinubu chose instead to act. What he has done is take decisive steps to stabilise a broken economy — steps that require both courage and capital,” he stated.

“To turn the economy around without external support would have required shutting down essential capital projects. That would have been far more damaging. What this administration has done is to seek concessional loans tied to infrastructure, energy transition, and economic competitiveness. These are not vanity loans. They are deliberate and targeted.”

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Nasir also accused the ADC of relying on simplistic comparisons between the Tinubu administration and that of the late former President Muhammadu Buhari, without any economic nuance.

He said while recurrent expenditures and subsidy payments largely absorbed Buhari’s borrowing, Tinubu’s borrowing is capital-focused and structured for long-term return on investment.

Moreover, the NDF pointed out that most of the loans secured under Tinubu have been project-linked and transparent, often tied to multilateral development institutions with clear disbursement conditions.

“It is also dishonest to compare naira-denominated debt across time without accounting for inflation and exchange rate realities. What matters is not the size of the loan in naira, but what the money is used for — and President Tinubu is using it to build roads, rail, power, and retool the economy.”

The group also cited the recent positive signals from international observers, noting that institutions like the International Monetary Fund (IMF) and the African Development Bank (AfDB) have commended the Tinubu administration for its bold reforms.

According to Nasir, global investors are beginning to respond favourably, with portfolio inflows reaching $3.9 billion in Q1 2025 — the highest in five years.

On the ADC’s claim that Nigeria is heading toward a ₦200 trillion debt burden, the NDF accused the party of fear-mongering.

“The real question Nigerians should ask is: are we borrowing smartly? Are we investing in future growth? Under Tinubu, the answer is yes. No administration in recent history has demonstrated this level of transparency and alignment between debt and development,” Nasir said.

He challenged the ADC to name a single major national project or institutional reform it initiated or influenced.

“Their record is empty, but they are always the loudest in criticism. It is one thing to point fingers, it is another thing to lead — and the ADC has shown it cannot lead.”

The NDF called on Nigerians to remain vigilant against what it described as “destructive politics dressed as activism,” warning that attempts to undermine confidence in the country’s economic direction would only hurt ordinary citizens.

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“We urge President Tinubu not to be distracted by naysayers. He is on the right path. Let the ADC bring ideas, not noise. Let them show Nigerians how they would do better — if they even know how,” the statement concluded.