Debt Crisis: You Acted Cowardly, ADC Chides Speaker Abbas

The African Democratic Congress (ADC), has chided the Speaker of the House of Representatives, Tajudeen Abbas, for what the party described as his doublespeak over Nigeria’s debt crisis.

The opposition coalition accused the Speaker of volte-face and deviating from the truth just to suit partisan interests.

THE WHISTLER had on Monday reported two conflicting versions of the Speaker’s alarm over Nigeria’s heavy debt burden, and a subsequent modification of his position a few hours later.

A statement on Tuesday by the spokesman of the ADC, Bolaji Abdullahi, further described Abbas’ backpedalling as a missed opportunity for courageous leadership.

The party said the Speaker’s initial admission that the country’s debt has crossed critical levels was a rare moment of honesty from within the ruling party.

It however, lamented that his quick withdrawal was a reflection of “the growing culture of political cowardice and legislative complicity.”

The ADC warned that, with unchecked borrowing and “the most compliant National Assembly in recent history,” Nigeria’s future is being dangerously mortgaged with the full complicity of the legislature.

The party said it received with cautious optimism the Speaker’s initial frank comments on the country’s ballooning debt; especially his admission that Nigeria’s debt-to-GDP ratio has not only crossed the statutory threshold, but also stood at a staggering 52 percent.

The ADC said initial statement by Abbas was not only a rare moment of honesty, but also a validation of what the opposition and many patriotic Nigerians have long warned against —”that this government is mortgaging our future.”

“However, our optimism was short-lived by the Speaker’s sudden recant of a rare demonstration of candour by a leader of the ruling party.

“Like a flame in the wind, the Speaker’s statement offered a momentary flicker of the truth, only to be quickly doused by political expediency.

“Rather than standing by his remarks and on the side of the people, the lawmaker chose to play safe and be politically correct.

“This, to us, is not only disappointing but troubling. If those in power cannot summon the courage to stand by the truth, even when it screams all around them, how can we expect them to act in the interest of the people?,” the party said.

It noted that President Bola Tinubu, before proceeding on his vacation to Europe a few days ago, had assured Nigerians that the era of borrowing was over.

The party also noted the President’s claims, that revenue projections had been met and the nation would henceforth live within its means, without borrowing.

“But, in less than a week, this same government announced a fresh plan to borrow 1.75 billion Dollars from the World Bank. It is against this backdrop of contradictions that the Speaker’s initial statement carried weight, and it is why his withdrawal rings louder than his words.

“What has stood out in the entire saga of unprecedented debt accumulation is the complicity of the 10th National Assembly, which, by every indication, has become the most compliant legislature in our recent history.

“The principle of checks and balances was not included in our Constitution for decoration, it exists to protect Nigerians from precisely this kind of unrestrained executive overreach.

“Yet today, what we witness is not legislative oversight, but legislative complicity. The National Assembly, instead of being a bulwark against excess, has become a conveyor belt for executive wishes.

“We wish to remind the Speaker and the APC-led administration that Nigeria’s debt crisis is not an abstract economic theory. It is a lived reality.

“Every Naira borrowed without accountability translates into a child out of school and a hospital patient without care. The Speaker was right the first time — our debt is out of control, and our children’s future is being written in red ink.

“The ADC believes that Nigeria must return to a path of fiscal discipline, transparency, and responsible governance. Our party will continue to demand full public disclosure and parliamentary debate before any new borrowing is undertaken, measurable benchmarks for how loans are spent, and a long-term plan to reduce debt dependency through domestic resource mobilisation and job creation.

“Let the record reflect that, when the opportunity came to speak truth to power, some chose silence, some chose survival, but the ADC chose to stand with the Nigerian people,” the party said.

Debt Crisis: You Acted Cowardly, ADC Chides Speaker Abbas is first published on The Whistler Newspaper