ADC Accuses Speaker Abbas of ‘Political Cowardice’ Over U-Turn on Nigeria’s Debt Crisis

The African Democratic Congress (ADC) has berated the Speaker of the House of Representatives, Tajudeen Abbas, for retracting his earlier warning about Nigeria’s rising debt profile, branding the reversal as “political cowardice” and a betrayal of public trust.

In a statement on Tuesday, ADC’s spokesman, Bolaji Abdullahi, accused the National Assembly of complicity in the country’s mounting debt crisis under President Bola Ahmed Tinubu. He argued that Abbas’s initial remarks had momentarily exposed the truth before being “doused by political expediency.”

The Speaker had earlier raised alarm that Nigeria’s debt-to-GDP ratio had exceeded statutory limits, climbing to 52 percent well above the country’s legal threshold and warned that it posed a significant threat to fiscal sustainability. However, he later withdrew the statement, sparking criticism from opposition parties and analysts.

“The Speaker’s rare moment of honesty gave Nigerians a glimpse of the reality of our debt situation. Unfortunately, he chose political correctness over truth,” Abdullahi said, likening Abbas’s retraction to extinguishing “a flame in the wind.”

Nigeria’s public debt has ballooned in recent years, with the Debt Management Office (DMO) confirming that total debt stock stood at over ₦121 trillion as of June 2025. Economists warn that debt servicing already consumes more than 70 percent of federal revenues, leaving little room for critical spending on healthcare, education, and infrastructure.

The ADC said the National Assembly must demonstrate independence and courage by holding the executive accountable on borrowing practices, instead of shielding the government from scrutiny.

With rising inflation, a weakened naira, and growing unemployment, critics say Nigeria’s debt crisis risks plunging the country into deeper economic instability unless urgent reforms are made.