Jane Salihu
The Nigeria Democratic Congress (NDC) has urged Nigerians to reject what it described as the growing borrowing spree of President Bola Tinubu’s administration and vote massively for the Peter Obi and Rabiu Musa Kwankwaso presidential ticket in the January 16, 2027 general elections.
The call was made by the Spokesperson of the NDC National Presidential Campaign Council, Dr Constance Ikokwu, in a statement issued on Thursday, November 5, following President Tinubu’s latest request for a $7.7 billion external loan, estimated at ₦10.79 trillion, to finance the 2026 budget deficit.
Ikokwu expressed concern over the country’s rising debt profile, warning that continued borrowing would place additional financial burdens on future generations and undermine Nigeria’s economic future.
She described the latest loan request as another example of what she termed the administration’s recurring borrowing pattern, popularly characterised by the phrase, “One Week, New Loan.”
The NDC spokesperson called on Nigerians to take advantage of the 2027 elections to demand accountability, fiscal responsibility and a government that prioritises the welfare of citizens.
Drawing comparisons with the November 4, 2026 elections in the United States, Ikokwu urged Nigerians to emulate American voters who, despite economic hardship and the rising cost of living, turned out to exercise their democratic rights.
She argued that citizens should move beyond complaints about economic difficulties and use their votes to bring about the leadership change they desire.
Ikokwu also accused the National Assembly of failing to provide adequate scrutiny of the Federal Government’s borrowing requests, alleging that lawmakers had become a rubber-stamp legislature.
She said, “Truly, it seems that right now, we cannot stop President Tinubu from his One Week! New Loan! One Week! New Loan! borrowing spree, which is already hitting the roof, because, regrettably, he has pocketed the National Assembly. We seem to have a rubber-stamp legislature that before a loan request formally gets to its desk, it has already been endorsed.”
However, she urged Nigerians not to lose hope, describing the ballot as the most powerful instrument available to citizens to change the country’s political and economic direction.
“But Nigerians should not despair. The ballot remains our most powerful instrument of change. We appeal to citizens to use their votes to rescue the country from this debt trap and entrust its future to a government committed to transparency, accountability and prudent management of public resources,” she added.
The NDC reiterated that Nigeria’s economic future should not be mortgaged through unsustainable borrowing and mismanagement of public resources, urging voters to make accountability and responsible governance central to their choices in the 2027 elections.
