The African Democratic Congress, ADC, says the 2026 budget proposal by President Bola Tinubu is a dangerous debt trap that threatens to mortgage Nigeria’s future and deepen the country’s fiscal crisis.
A statement by the National Publicity Secretary of the party, Bolaji Abdullahi, the budget proposal exposes growing fiscal recklessness, administrative chaos and what it called a disturbing lack of concern for future generations.
Abdullahi slammed the government’s claim that the proposal represents a ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity.’
According to him, the document reflects a continuation of failed fiscal practices under the Tinubu administration.
“What was presented was only a consolidation of the fiscal recklessness and renewed wishful thinking that have become the hallmark of the Tinubu administration.
“If approved, the only thing this budget is capable of sharing is more debts and greater misery in the years ahead.
“The 2026 budget proposal only copies the templates of the failed, unimplemented and perhaps, unimplementable 2024 and 2025 budgets and will most likely end up in the same way,” the ADC said.
Weighing in on revenue projections, the party described the figures contained in the budget as unrealistic, recalling that revenues rose to about N20 trillion in 2024 largely due to currency devaluation, before being doubled to N40 trillion for 2025 and increased to N58.57 trillion in the 2026 proposal.
It queried the $64-per-barrel oil benchmark used in the budget, warning that weakening oil projections and softening global prices make the assumptions risky and detached from reality.
The ADC further stated that the N34 trillion revenue target ignores alternative scenarios and depends on conditions that no longer exist.
Tinubu’s 2026 budget buries next generation in debt – ADC
