The African Democratic Congress (ADC) has accused President Bola Tinubu’s administration of misleading Nigerians with what it described as false claims of record-breaking revenue growth.
In a statement issued Thursday, the party said there was a N21.22 trillion gap between the N41.81 trillion revenue projected in the 2025 budget and the N20.59 trillion government claims to have mobilized so far.
“Is the government then claiming to have surpassed N27.87 trillion, or even the full N41.81 trillion projection already? These figures simply do not add up,” ADC National Publicity Secretary, Mallam Bolaji Abdullahi, said.
The party also faulted the President’s comment on the naira-dollar exchange rate, calling it “patently false.” According to Abdullahi, the naira traded at about N460.72 to the dollar in the official market, and between N700 and N800 in the parallel market, when Tinubu assumed office in May 2023. He argued that under the current administration, the naira had lost more than 50 percent of its value.
The ADC further accused the government of continuing to borrow despite its claims of improved revenue, citing the $21 billion loan recently approved by the National Assembly and bond auctions conducted by the Debt Management Office.
On policy choices, the party condemned the introduction of a 5 percent petrol tax and a 300 percent increase in passport fees, describing them as “cruel and deeply insensitive” at a time when Nigerians are grappling with rising costs of living.
“The least Nigerians deserve are interventions to mitigate the impact of subsidy removal, not an additional tax that will further burden them,” Abdullahi said.
He added that while the government celebrates revenue collection, ordinary Nigerians are being pushed deeper into poverty.
