The African Democratic Congress (ADC) has strongly criticised the Speaker of the House of Representatives, Hon. Tajudeen Abbas, for withdrawing his earlier remarks on Nigeria’s rising debt profile.
In a statement issued on Tuesday by the party’s National Publicity Secretary, Bolaji Abdullahi, the ADC described the Speaker’s action as a “display of political cowardice” and a sign of the National Assembly’s growing silence in the face of the country’s worsening financial situation.
Speaker Abbas had recently raised concerns that Nigeria’s debt-to-Gross Domestic Product (GDP) ratio had exceeded the legal threshold and now stood at 52 percent. According to the Fiscal Responsibility Act, Nigeria’s debt-to-GDP ratio should not exceed 40 percent. Exceeding this limit suggests the country is on an unsustainable financial path, with increasing risks of default or deeper economic hardship.
The Speaker’s warning was seen by many as a rare act of openness by a top government official. However, to the surprise of many Nigerians, Abbas later withdrew his remarks without providing a clear explanation.
Reacting to this development, the ADC said the Speaker’s initial statement was “a rare moment of honesty” that shed light on Nigeria’s deepening debt crisis under the current administration led by President Bola Tinubu.
“Like a flame in the wind, the Speaker’s statement offered a momentary flicker of the truth, only to be quickly doused by political expediency,” the ADC said. “Rather than standing by his remarks and on the side of the people, he chose to play safe and be politically correct.”
The party further accused the National Assembly of being complicit in the country’s growing debt burden, arguing that lawmakers have consistently approved loans without properly questioning the executive.
“The National Assembly has continued to approve reckless borrowing without serious debate or concern for the future of the country,” the statement added. “Speaker Abbas had the opportunity to break this trend, but unfortunately, he chose silence over substance.”
Nigeria’s public debt has continued to rise sharply in recent years. As of early 2025, the total public debt stands at over ₦121 trillion, sparking fears among economists, civil society groups, and ordinary citizens. With a large portion of government revenue now being used to service debt, there is growing concern that vital sectors like health, education, and infrastructure may suffer further neglect.
The ADC called on Nigerians to demand more accountability from their elected representatives and to stay alert to the implications of unchecked borrowing.
“As the economy worsens and the cost of living rises, the people must not allow their future to be mortgaged through silence and political games,” the party said.
