ADC to Tinubu: Your Revenue Claims Based on Lies

The African Democratic Congress (ADC) has accused President Bola Ahmed Tinubu of deceiving Nigerians with what it described as “false and exaggerated” revenue claims. The party said the administration’s self-praise over revenue mobilization does not align with the economic reality of Nigerians, who continue to face hardship.

According to the ADC, the Federal Government projected N41.81 trillion as revenue in the 2025 budget but has only recorded N20.59 trillion so far, leaving a shortfall of N21.22 trillion. In a statement signed by Mallam Bolaji Abdullahi, the party’s National Publicity Secretary, the ADC argued that the figures being celebrated by the government “simply do not add up.”

The party noted that based on the budget estimates, the government should have realized at least N27.87 trillion in the first eight months of the year. “Is the government then claiming to have surpassed N27.87 trillion, or even the full N41.81 trillion already? These figures are unrealistic and misleading,” the statement read.

Naira Claims Branded “Patently False”

The ADC also dismissed President Tinubu’s remarks about stabilizing the naira. The President had recently claimed that the naira-dollar exchange rate improved from N1,900 to N1,450 since he assumed office.

The opposition party countered that when Tinubu was sworn in on May 29, 2023, the exchange rate stood at about N460.72 per dollar at the official window and between N700 and N800 in the parallel market. Under Tinubu’s administration, however, the naira has lost more than 50% of its value.

“This is not economic success but economic collapse,” the ADC said. “The weakened naira has wiped out savings, pushed food and housing costs beyond reach, and driven transport fares to record highs. Nigerians are paying the price for failed policies while the government parades fictitious numbers.”

ADC accuse Tinubu Administration of Borrowing Despite “Record Revenues”

The ADC further accused the Tinubu administration of inconsistency in its claims, questioning why the government continues to borrow heavily despite boasting of increased revenues.

The statement cited a Federal Government bond auction that raised N136.16 billion on August 26, 2025, as well as a controversial $21 billion loan approved by the National Assembly in July. These moves, according to the ADC, have raised Nigeria’s debt stock to $120 billion (N180 trillion), the highest in history.

“If revenues are truly being met, why is this government still borrowing recklessly?” the ADC asked. “The answer is simple — the so-called revenue achievements are built on propaganda, not reality. Nigeria is sinking deeper into debt while the government keeps deceiving its citizens.”

Petrol Tax and Passport Fee Hike Slammed

The ADC strongly condemned the recently introduced 5% petrol tax, describing it as “cruel, insensitive, and anti-people.” The party said the new tax, coming after the removal of fuel subsidy, will only worsen inflation and increase the cost of living for ordinary Nigerians.

“The least Nigerians deserve are interventions to cushion the effect of subsidy removal, not additional taxes that further impoverish them,” the statement said. The party also blasted the 300% increase in international passport fees, arguing that Nigeria now has one of the most expensive passports in the world compared to citizens’ income levels.

“In the UK, a passport costs about 5% of the minimum wage, but in Nigeria it now costs 143% of the minimum wage. This is exploitative governance — monetizing hardship and celebrating suffering as progress,” Abdullahi noted.

A Government of Punishment, Not Service”

Summing up its criticism, the ADC accused the Tinubu administration of running a government that “takes from the people while lying to them.” The party insisted that Nigeria cannot continue to survive on propaganda, heavy taxation, and reckless borrowing.

According to the ADC every major policy decision under Tinubu — from petrol taxes to rising passport costs — has pushed more Nigerians into poverty. “Instead of improving lives, this government has chosen to punish the very people it was elected to serve,” the statement declared.

“Nigeria remains the poverty capital of the world. This should humble any government, but the Tinubu administration has chosen to compound the misery of its people while a privileged few live in excess. This is not governance; it is exploitation,” the ADC concluded.