{"id":1889,"date":"2026-10-27T17:01:39","date_gmt":"2026-10-27T17:01:39","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/27\/adc-pcc-to-nassembly-reject-tinubus-21bn-loan-over-lack-of-transparency\/"},"modified":"2026-10-27T17:01:39","modified_gmt":"2026-10-27T17:01:39","slug":"adc-pcc-to-nassembly-reject-tinubus-21bn-loan-over-lack-of-transparency","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/27\/adc-pcc-to-nassembly-reject-tinubus-21bn-loan-over-lack-of-transparency\/","title":{"rendered":"ADC-PCC to N\u2019Assembly: Reject Tinubu\u2019s $21bn loan over lack of transparency"},"content":{"rendered":"
\"Atiku<\/p>\n

By Luminous Jannamike<\/p>\n

The African Democratic Congress Presidential Campaign Council (ADC-PCC) has urged the National Assembly to reject President Bola Tinubu\u2019s proposed $20 billion and \u00a31 billion foreign borrowing unless the Federal Government provides full details of the facilities and demonstrates their benefits to Nigerians.<\/p>\n

The council said the fresh borrowing would add to the burden on Nigerians already battling rising living costs and increased taxation, questioning why the government was seeking more loans without accounting for previous borrowings and savings from fuel subsidy removal.<\/p>\n

In a statement by its Director of Media and Publicity, Kola Ologbondiyan, the ADC-PCC faulted the administration\u2019s borrowing plans, demanding evidence that the funds would translate into tangible improvements in citizens\u2019 lives.<\/p>\n

\u201cWhat exactly is President Tinubu borrowing all this money for? Where are the roads, the electricity, the hospitals, the jobs and the critical infrastructure that should justify this relentless accumulation of debt? Nigerians deserve answers,\u201d Ologbondiyan said.<\/p>\n

He questioned why the government was returning to international creditors while millions of Nigerians struggled to survive the effects of its economic policies.<\/p>\n

The council warned that continued borrowing without transparent spending and measurable returns could deepen Nigeria\u2019s debt burden, restrict future governments\u2019 policy options and threaten the country\u2019s economic sovereignty.<\/p>\n

\u201cThis is not a sustainable path to national development. It is a dangerous attempt to mortgage the future of Nigeria and generations yet unborn,\u201d Ologbondiyan said.<\/p>\n

The ADC-PCC demanded that Tinubu publish a comprehensive account of all domestic and foreign borrowing since May 29, 2023, including a breakdown of revenue realised from subsidy removal and how the funds had been spent.<\/p>\n

It also called for full disclosure of the proposed loans\u2019 purposes, interest rates, repayment periods, fees, conditions and any collateral or guarantees attached to the facilities.<\/p>\n

\u201cNigeria cannot borrow its way out of poor economic management. Borrowing must be tied to clearly defined national priorities, transparent expenditure and measurable outcomes. Anything less is an injustice to the Nigerian people,\u201d the council said.<\/p>\n

It urged lawmakers to insist on accountability and refuse to approve the facilities until the Federal Government establishes their necessity, sustainability and tangible benefits to Nigerians.<\/p>\n

The post ADC-PCC to N\u2019Assembly: Reject Tinubu\u2019s $21bn loan over lack of transparency<\/a> appeared first on Vanguard News<\/a>.<\/p>\n<\/div>\n

Source: <\/p>\n

Vanguard News<\/div>\n","protected":false},"excerpt":{"rendered":"

By Luminous Jannamike The African Democratic Congress Presidential Campaign Council (ADC-PCC) has urged the National Assembly to reject President Bola Tinubu\u2019s proposed $20 billion and \u00a31 billion foreign borrowing unless… <\/p>\n","protected":false},"author":1,"featured_media":1890,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/1889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=1889"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/1889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/1890"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=1889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=1889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=1889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}