FG’s N58.18tn 2026 budget, debt trap in disguise – ADC

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The African Democratic Congress has condemned President Bola Tinubu’s proposed N58.18tn 2026 budget as a “debt trap disguised as reform,” warning that its heavy reliance on borrowing and unrealistic revenue projections could further mortgage Nigeria’s future and deepen the country’s fiscal crisis.

In a statement on Monday by its National Publicity Secretary, Bolaji Abdullahi, the ADC said the budget reflects the Tinubu administration’s pattern of fiscal irresponsibility and over-optimistic projections.

On Friday, President Tinubu presented the N58.18tn 2026 Appropriation Bill to the National Assembly, expressing optimism about a gradual economic recovery and pledging tighter fiscal controls.

Speaking before a joint session of the Senate and House of Representatives, he described the proposal—the “Budget of Consolidation, Renewed Resilience and Shared Prosperity”—as a plan to build on macroeconomic improvements, restore confidence, and translate stability into broad-based benefits for Nigerians. Punch