The African Democratic Congress (ADC) has condemned President Bola Tinubu’s proposed 2026 budget as a perilous debt trap that threatens Nigeria’s future and exacerbates the country’s fiscal crisis. In an analysis of the budget presented to the National Assembly, the ADC highlighted a pattern of fiscal irresponsibility and administrative chaos, arguing that the proposal reflects a troubling disregard for future generations.
According to the ADC’s National Publicity Secretary, the budget claims to embody a “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” but the party insists it is merely a continuation of failed fiscal policies under the current administration. They stated, “The only outcome this budget is poised to share is increased debt and greater hardship moving forward.”
The ADC criticized the 2026 proposal for mirroring previous unimplemented budgets from 2024 and 2025. The party expressed concern about operating multiple national budgets simultaneously, reflecting what it described as Tinubu’s flawed fiscal management approach. They asserted that the government is avoiding addressing underlying issues and hiding severe financial challenges beneath a pile of unsustainable debt.
The ADC also deemed the budget’s revenue projections as unrealistic. They noted that anticipated revenues, which rose significantly in previous years, have now been set at an ambitious N58.57 trillion for 2026. The party expressed skepticism regarding the $64-per-barrel oil benchmark, warning that declining global prices could render these assumptions unrealistic.
A focal point of their criticism was the proposed deficit, with the government planning to borrow approximately N24 trillion against a projected revenue of N34 trillion. The ADC labeled this an admission of fiscal insolvency and criticized the exorbitant deficit-to-revenue ratio of 70 percent as unacceptable in any functional fiscal system.
Additionally, they highlighted the soaring cost of debt servicing, projected to increase from N12.63 trillion in 2024 to N15.52 trillion in 2026. The ADC concluded that no sound fiscal doctrine could justify the combination of high deficits and substantial servicing costs, arguing that such practices effectively burden future generations with unsustainable debt obligations.
