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The African Democratic Congress (ADC) has faulted President Bola Ahmed Tinubu\u2019s claims that Nigeria no longer relies on borrowing, accusing the administration of deceiving Nigerians with false statistics on revenue generation. The article was originally published on Politics Nigeria.<\/p>\n","protected":false},"excerpt":{"rendered":" The African Democratic Congress (ADC) has faulted President Bola Ahmed Tinubu\u2019s claims that Nigeria no longer relies on borrowing, accusing the administration of deceiving Nigerians with false statistics on revenue generation.In a statement issued on Thursday by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party described the government\u2019s revenue narrative as \u201cpropaganda built on […]<\/p>\n","protected":false},"author":14,"featured_media":235372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-235371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/abiaradiostations.com.ng\/news\/wp-content\/uploads\/2025\/09\/images-2025-09-04T165221.683.jpeg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/posts\/235371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/comments?post=235371"}],"version-history":[{"count":0,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/posts\/235371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/media\/235372"}],"wp:attachment":[{"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/media?parent=235371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/categories?post=235371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/tags?post=235371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
In a statement issued on Thursday by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party described the government\u2019s revenue narrative as \u201cpropaganda built on lies,\u201d citing a N21.22 trillion shortfall between the 2025 budget projection and actual collections.
The ADC said the government\u2019s recent celebration of revenue mobilization was misleading, noting that while the 2025 budget projected N41.81 trillion, only N20.59 trillion had been realized so far.
The party also questioned why the administration continues to borrow despite its claims of record revenues.
\u201cEven more troubling is the fact that not all the revenue in question flows to the Federal Government,\u201d the statement read. \u201cWhen measured on a pro-rata basis for January to August or against the full-year target, the shortfall becomes glaring. This exposes the hollowness of the government\u2019s claims.\u201d
The opposition party challenged Tinubu\u2019s recent comments on the exchange rate, saying his assertion that the naira had improved from N1,900 to N1,450 to the dollar was \u201cpatently false.\u201d It argued that the currency traded at about N460 to the dollar at the official window on May 29, 2023, when Tinubu <\/a>assumed office, and between N700 and N800 in the parallel market.
On borrowing, the ADC pointed to the Debt Management Office\u2019s announcement on August 26, 2025, that it had raised N136.16 billion through a Federal Government bond auction, as well as the $21 billion loan approved by the National Assembly in July. According to the party, this has pushed the country\u2019s debt stock to $120 billion (N180 trillion), the highest in Nigeria\u2019s history.
\u201cThe question to ask is: if revenues are truly being met, why is this government still borrowing?\u201d the ADC asked.
The party further criticized recent economic policies, including the newly introduced 5% petrol tax and the 300% increase in the cost of international passports. It described both measures as \u201ccruel and insensitive,\u201d arguing that they burden already struggling Nigerians instead of providing relief.
According to the ADC, the fuel tax worsens the impact of subsidy removal, while the hike in passport fees makes Nigeria\u2019s passport one of the most expensive in the world relative to income.<\/p>\n