NDC Criticizes President Tinubu’s $7.7 Billion Loan Request Amid Debt Concerns

The Nigeria Democratic Congress (NDC) has criticized President Bola Tinubu’s recent request for a $7.7 billion external loan. The party expressed concerns about the increasing debt burden on the country and its impact on future generations.

On Thursday, the NDC’s National Presidential Campaign Council urged Nigerians to hold political leaders accountable through their votes in the upcoming 2027 general elections. Dr. Chiogo Ikokwu, the council’s spokesperson, stated that the loan request highlights the government’s dependence on external loans to cover budget shortfalls.

Ikokwu described the borrowing approach as a “One Week! New Loan!” spree, suggesting that the President has the support of a compliant National Assembly. She remarked, “It seems that right now, we cannot stop President Tinubu from his borrowing spree, which is already hitting the roof, because he has pocketed the National Assembly.”

The spokesperson encouraged citizens not to lose hope, stating that voting is a powerful way to bring about change. She called on voters to support the NDC’s presidential candidate, Peter Obi, and his running mate, Rabiu Musa Kwankwaso, in the upcoming elections.

Ikokwu also drew a comparison to the United States, where citizens actively participated in elections despite economic challenges. She urged Nigerians to follow this example and engage in the electoral process.

The NDC believes that Nigeria’s economic future should not be compromised by excessive borrowing and poor management of public funds. The loan request, dated October 26, 2026, was presented to the Senate, which has referred it to committees for further review.