The African Democratic Congress (ADC) has launched a scathing critique of the federal government's proposed 2026 budget, labeling it a document built on "quicksand" and a continuation of fiscal irresponsibility. The party warns that the budget, if approved, will only deepen Nigeria's debt crisis and inflict greater hardship on citizens.
A Budget of Debt and Wishful Thinking
In a statement released on December 22, 2025, by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC declared that a careful review by its economists revealed a consolidation of fiscal recklessness. The party asserts that the fundamentals of the N58.57 trillion money bill presented to the National Assembly show a complete disregard for revenue credibility and deficit management.
"If approved, the only thing this budget is capable of sharing is more debts and greater misery in the years ahead," the ADC stated. They argued that the 2026 proposal merely copies the templates of what they called the failed and unimplementable 2024 and 2025 budgets, destined for the same fate.
Unprecedented Fiscal Chaos and Unsustainable Projections
The ADC highlighted what it termed an "unprecedented fiscal chaos", pointing out that the government is attempting to build a new fiscal framework while the 2025 budget was only recently repealed and reenacted. The party accused the Tinubu administration of operating three or more national budgets simultaneously, a practice they claim is a unique contribution to Nigeria's fiscal disorder.
The party questioned the government's revenue projections, noting that while revenues hit N20 trillion in 2024 largely due to currency devaluation, the government has audaciously projected N40 trillion for 2025 and N58.57 trillion for 2026. "This is not vision; it is fantasy," the statement read.
Furthermore, the ADC criticized the oil price benchmark of $64 per barrel as inexplicable in a weakening global market, chasing an unrealistic N34 trillion revenue target after the artificial boost from naira devaluation has faded.
A Debt Trap for Future Generations
The most alarming aspect for the ADC is the scale of the deficit and borrowing. The party noted that a budget planning to generate N34 trillion in revenue while borrowing N24 trillion is an admission of fiscal insolvency. They described a deficit-to-revenue ratio of 70% as unacceptable in any sane fiscal system.
"The document presented before the National Assembly on December 19 is a debt trap masquerading as a budget," the ADC alleged. They expressed concern that with a projected deficit of N23.85 trillion, almost every capital project would be funded by high-interest debt, effectively burying future generations under a mountain of obligations.
The consequences are already visible, with debt servicing costs projected to explode from N12.63 trillion in 2024 to a staggering N15.52 trillion in 2026. The ADC concluded that the administration has hit a wall and is blinded by its own propaganda, calling for a radical departure from this path to rebuild a fiscal structure that serves the Nigerian people, not just creditors.
