The Nationwide Democratic Entrance (NDF) has strongly criticised the African Democratic Congress (ADC) over its current assertion accusing the Tinubu administration of plunging Nigeria into an unsustainable debt disaster.
In a response issued on Monday in Abuja and signed by its Nationwide President, Ghalil Nasir, the NDF described the ADC’s claims as dishonest, deceptive, and rooted in a determined bid to remain politically related.
Dr. Nasir stated it was unlucky that the ADC, a celebration with no notable electoral mandate or coverage file, has chosen to distort details about Nigeria’s financial scenario as a way to malign an administration that’s cleansing up years of structural decay and financial mismanagement.
“The African Democratic Congress is weaponising financial statistics with out context. It’s shameful {that a} social gathering with no seat within the Nationwide Meeting and no vital coverage contributions is trying to distort public discourse by attacking a reform-minded administration,” Dr. Nasir stated.
He said that President Tinubu inherited an economic system in dire straits: a public debt of ₦87.3 trillion, over ₦4 trillion in petrol subsidy arrears, a a number of trade charge regime that created arbitrage, and an inflation charge of twenty-two.4%.
“To stabilise such an economic system with out exterior financing would have meant shutting down capital spending and punishing the poorest Nigerians. Tinubu selected as a substitute to behave. What he has accomplished is take decisive steps to stabilise a damaged economic system — steps that require each braveness and capital,” he said.
“To show the economic system round with out exterior help would have required shutting down important capital tasks. That may have been much more damaging. What this administration has accomplished is to hunt concessional loans tied to infrastructure, power transition, and financial competitiveness. These will not be self-importance loans. They’re deliberate and focused.”
Dr Nasir accused the ADC of counting on simplistic comparisons between the Tinubu and Buhari administrations with none financial nuance.
He stated whereas Buhari’s borrowing was largely absorbed by recurrent expenditures and subsidy funds, Tinubu’s borrowing is capital-focused and structured for long-term return on funding.
Furthermore, the NDF identified that a lot of the loans secured below Tinubu have been project-linked and clear, typically tied to multilateral growth establishments with clear disbursement situations.
“It is usually dishonest to match naira-denominated debt throughout time with out accounting for inflation and trade charge realities. What issues will not be the dimensions of the mortgage in naira, however what the cash is used for — and President Tinubu is utilizing it to construct roads, rail, energy, and retool the economic system.”
The group additionally cited the current constructive indicators from worldwide observers, noting that establishments just like the IMF and the African Improvement Financial institution have recommended the Tinubu administration for its daring reforms.
In keeping with Nasir, international buyers are starting to reply favourably, with portfolio inflows reaching $3.9 billion in Q1 2025 — the best in 5 years.
On the ADC’s declare that Nigeria is heading towards a ₦200 trillion debt burden, the NDF accused the social gathering of fear-mongering.
“The true query Nigerians ought to ask is: are we borrowing neatly? Are we investing in future progress? Beneath Tinubu, the reply is sure. No administration in current historical past has demonstrated this degree of transparency and alignment between debt and growth,” Nasir stated.
He challenged the ADC to call a single main nationwide mission or institutional reform it initiated or influenced.
“Their file is empty, however they’re at all times the loudest in criticism. It’s one factor to level fingers, it’s one other factor to guide — and the ADC has proven it can’t lead.”
The NDF known as on Nigerians to stay vigilant towards what it described as “harmful politics dressed as activism,” warning that makes an attempt to undermine confidence within the nation’s financial route would solely harm unusual residents.
“We urge President Tinubu to not be distracted by naysayers. He’s on the fitting path. Let the ADC carry concepts, not noise. Allow them to present Nigerians how they’d do higher — in the event that they even know the way,” the assertion concluded.
