The African Democratic Congress (ADC) has strongly criticised President Bola Tinubu’s 2026 budget proposal, warning that it risks burying future generations of Nigerians under an unsustainable debt burden.
In a preliminary review of the budget presented to the National Assembly, the opposition party described the proposal as “wishful thinking”, accusing the Tinubu administration of deepening fiscal recklessness and showing little concern for long-term economic sustainability.
In a statement issued late Monday and signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC faulted the government’s branding of the proposal as a “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” arguing that it merely extends what it called failed fiscal practices.
“What was presented was only a consolidation of fiscal recklessness and renewed wishful thinking that have become the hallmark of the Tinubu administration,” the party said.
“If approved, the only thing this budget is capable of sharing is more debt and greater misery in the years ahead.”
The ADC said the 2026 proposal largely mirrors the 2024 and 2025 budgets, which it described as failed, poorly implemented and possibly unimplementable, warning that the latest budget could suffer the same fate.
According to the party, the government’s practice of running multiple budgets simultaneously reflects administrative chaos and a lack of coherent fiscal planning.
“We are witnessing a government pursuing policies without a stable foundation,” the statement said, adding that the administration has continued to postpone difficult decisions while piling up unsustainable debts.
On revenue projections, the ADC described the figures in the budget as detached from economic realities, noting that revenues rose to about ₦20 trillion in 2024, largely due to currency devaluation, before being increased to ₦40 trillion in 2025 and further projected at ₦58.57 trillion in 2026.
“This is not vision; it is fantasy,” the party said.
The ADC further argued that the scale of planned borrowing amounts to an admission of fiscal failure.
“A budget that plans to generate ₦34 trillion in revenue while borrowing ₦24 trillion is an admission of fiscal insolvency,” the statement said.
“In no sane or functional fiscal system would a deficit-to-revenue ratio of 70 per cent be considered acceptable.”
The party also raised concerns over rising debt servicing costs, noting that debt service is projected to increase from ₦12.63 trillion in 2024 to ₦15.52 trillion in 2026, a trend it warned would further limit development spending and worsen economic hardship for Nigerians.
“It is an unpardonable sin to raise massive debts to fund reckless spending, effectively burying our children under a mountain of debt before they even enter the workforce,” the ADC said.
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