One Week, New Loan: NDC Challenges Tinubu Over N10.79tn Borrowing

In a recent development, the National Leadership of the Nigeria Democratic Congress (NDC) has taken a strong stance against President Bola Tinubu over his recent request for approval of a fresh N10.79tn loan from the National Assembly. According to a report by Vanguard News, this loan is aimed at financing part of the 2026 budget deficit. The NDC, in a statement, expressed concern over the continuous borrowing by the administration, questioning the sustainability of the nation’s debt burden. It is worth noting that this is not the first time the Tinubu administration has sought external loans. The exact amount and purpose of the previous loans have been a subject of debate and criticism among various stakeholders. The NDC’s criticism comes at a time when the nation’s economy is facing significant challenges, with inflation and unemployment rates on the rise. The opposition party argues that the continuous borrowing is not a sustainable solution and could potentially harm the economy in the long run. President Tinubu’s administration has not yet responded to the NDC’s criticism. This story matters to Nigerian readers as it sheds light on the nation’s financial situation and the strategies being employed by the current administration.