The African Democratic Congress (ADC) has lambasted the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, for withdrawing his earlier remarks about Nigeria’s rising debt profile, describing the move as “political cowardice.” The party reacted to Abbas’s reversal in a statement signed by its National Publicity Secretary, Bolaji Abdullahi, on September 9, 2025.
Abbas had initially sounded the alarm that Nigeria’s public debt had crossed the statutory limit and now stood at a dangerous 52 percent of Gross Domestic Product (GDP), posing a serious threat to fiscal sustainability. His candor was hailed by the ADC as a rare moment of honesty from within the ruling party.
However, his swift retraction—which his office claimed was due to misinterpretation—was criticized by the ADC as a missed opportunity for courageous leadership. Abdullahi said, “Like a flame in the wind, the Speaker’s statement offered a momentary flicker of the truth, only to be quickly doused by political expediency.”
The ADC accused Abbas and the 10th National Assembly of complicity in the debt crisis, calling the legislature “the most compliant in recent history” in approving excessive government borrowing without adequate oversight.
The party warned that unchecked borrowing jeopardizes Nigeria’s future, with every naira borrowed without transparency translating into negative social impacts on education, healthcare, and economic opportunities for Nigerians.
ADC reiterated calls for fiscal discipline, transparency, and responsible governance, demanding full public disclosure and parliamentary debate before any future borrowing, coupled with measurable benchmarks for loan utilization and long-term debt reduction strategies.
This development comes amid growing national concern over Nigeria’s ballooning debt stock of ₦149.39 trillion (about $97 billion), which has surged alarmingly in recent years under the current administration.
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