The Nigeria Democratic Congress (NDC) has blasted President Bola Tinubu for seeking a fresh $7.7 billion (about ₦10.79 trillion) external loan to cover the 2026 budget deficit. The party said the move is another example of the administration’s frequent borrowing and warned that the debt burden is being passed on to future generations.
In a statement issued on Thursday, NDC National Presidential Campaign Council spokesperson Dr Chiogo Constance Ikokwu described the loan request as a “one‑week, new loan” and accused the National Assembly of acting as a rubber‑stamp body that approves such proposals before they are formally considered.
Ikokwu urged Nigerians to hold the government accountable at the 2027 general elections, calling on voters to support candidates Peter Obi and Rabiu Musa Kwankwaso. She cited the United States’ November 4, 2026 election as an example of citizens exercising their democratic rights despite economic hardship.
“Nigerians should follow the example of Americans, who turned out to exercise their democratic rights despite facing economic difficulties and a high cost of living,” Ikokwu said.
She warned that the “rubber‑stamped” legislature has already endorsed the loan before it formally reaches the Assembly’s desk, making it “regrettably” difficult to stop President Tinubu’s borrowing spree.
Despite the criticism, the NDC said the ballot remains the most powerful tool for change. “We appeal to citizens to use their votes to rescue the country from this debt trap and entrust its future to a government committed to transparency, accountability and prudent management of public resources,” Ikokwu added.
The party concluded that Nigeria’s economic future should not be placed at risk by unsustainable borrowing and mismanagement of public funds.
<small>Source: The Sun Nigeria — read the original story there.</small>