NDC Criticizes President Tinubu Over New $7.7 Billion Loan Request

The National Leadership of the Nigeria Democratic Congress (NDC) has criticized President Bola Tinubu for asking the National Assembly to approve a new plan to borrow $7.7 billion, which is about ₦10.79 trillion. This borrowing is intended to help cover the budget deficit for 2026.

In a statement on Thursday, Dr. Chiogo Constance Ikokwu, spokesperson for the NDC’s National Presidential Campaign Council, referred to this as a case of a “one-week new loan.” She urged Nigerians to participate actively in the upcoming 2027 elections to demand better governance and fiscal responsibility.

Ikokwu highlighted that the country’s increasing debt and the burden it places on future generations make it crucial for citizens to vote. She encouraged voters to support candidates Peter Obi and Eng. Rabiu Musa Kwankwaso in the elections scheduled for January 16, 2027.

She compared the situation in Nigeria to the recent elections in the United States, where many citizens voted to express their opinions on government issues. Ikokwu noted that, like Americans, Nigerians are facing economic challenges and should use their votes to bring about change.

Ikokwu expressed concern over what she described as President Tinubu’s ongoing borrowing spree, claiming that the National Assembly has become a rubber-stamp body that quickly approves loan requests. She emphasized that the future of Nigeria should not be compromised by excessive borrowing and poor management of public resources.