The National Leadership of the Nigeria Democratic Congress (NDC) has blasted President Bola Tinubu over his request to the National Assembly for approval of a fresh $7.7bn (approximately ₦10.79tn) external borrowing plan to partly finance the 2026 budget deficit. The party recently had its say via a press statement by the spokesperson of the National Presidential Campaign Council of the NDC, Dr Chiogo Constance Ikokwu.
Describing Tinubu’s latest request has made it a case of a one-week new loan, NDC urged Nigerians to turn out in massive numbers in the 2027 elections and use their votes to demand accountability, fiscal responsibility and a government that puts the people’s interests first.
The party added that Nigeria’s growing debt burden makes the forthcoming election too important for citizens to ignore.
It read, “Americans demonstrated the power of the ballot in their November 4, 2026 elections.
President Bola Tinubu has again asked the National Assembly to approve a new external borrowing plan of $7.7 billion (approximately ₦10.79 trillion) to help finance the 2026 budget deficit, making this a case of a one-week, new loan.
Truly, it seems that right now, we cannot stop President Tinubu from his One Week! New Loan! One Week! New loan! Borrowing spree, which is already hitting the roof, because, regrettably, he has pocketed the National Assembly.
We seem to have a rubber-stamp legislature that before a loan request formally gets to its desk, it has already been endorsed.
But Nigerians should not despair. The ballot remains our most powerful instrument of 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.”
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