One week, new loan’: NDC tackles Tinubu over fresh N10.79trn borrowing
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Vanguard News
Reported by Ayobami
Thu, 5 Nov 2026, 08:52
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By Henry Umoru, Abuja The National Leadership of the Nigeria Democratic Congress (NDC) has strongly criticised President Bola Tinubu over his request to the National Assembly for approval of a fresh $7.7bn (approximately ₦10.79tn) external borrowing plan to partly finance the 2026 budget deficit. According to her, the country’s growing debt burden, in light of new loan requests by President Bola Tinubu, and the obligations being passed on to future generations make this election too important for citizens to sit out, just as the party appealed to Nigerians to turn out massively and vote for Mr Peter Obi and Eng.
Context & Background
✦According to the NDC, the latest request has made it a case of a one-week new loan.
Key Figures & Named Entities
2026:By Henry Umoru, Abuja The National Leadership of the Nigeria Democratic Congress (NDC) has strongly criticised President Bola Tinubu over his request to the National Assembly for approval of a fresh $7.7bn (approximately ₦10.79tn) external borrowing plan to partly finance the 2026 budget deficit.Thursday:In a statement on Thursday by the spokesperson of the National Presidential Campaign Council of the NDC, Dr Chiogo Constance Ikokwu, she called on Nigerians to turn out in massive numbers in the 2027 elections and use their votes to demand accountability, fiscal responsibility and a government that puts the people’s interests first.2027:Rabiu Musa Kwankwaso on January 16, 2027.
Outlook & Next Steps
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Key Takeaways
Verified Extract
✦By Henry Umoru, Abuja The National Leadership of the Nigeria Democratic Congress (NDC) has strongly criticised President Bola Tinubu over his request to the National Assembly for approval of a fresh $7.7bn (approximately ₦10.79tn) external borrowing plan to partly finance the 2026 budget deficit.
✦According to her, the country’s growing debt burden, in light of new loan requests by President Bola Tinubu, and the obligations being passed on to future generations make this election too important for citizens to sit out, just as the party appealed to Nigerians to turn out massively and vote for Mr Peter Obi and Eng.
✦According to the NDC, the latest request has made it a case of a one-week new loan.
Key Facts:2026: By Henry Umoru, Abuja The National Leadership of the Nigeria Democratic Congress (NDC) has strongly criticised President Bola Tinubu over his request to the National Assembly for approval of a fresh $7.7bn (approximately ₦10.79tn) external borrowing plan to partly finance the 2026 budget deficit.Thursday: In a statement on Thursday by the spokesperson of the National Presidential Campaign Council of the NDC, Dr Chiogo Constance Ikokwu, she called on Nigerians to turn out in massive numbers in the 2027 elections and use their votes to demand accountability, fiscal responsibility and a government that puts the people’s interests first.2027: Rabiu Musa Kwankwaso on January 16, 2027.2026: According to her, Nigerians should emulate Americans, whom she described as champions of democratic participation, by coming out in their millions to vote for Obi and Kwankwaso, saying, “Americans demonstrated the power of the ballot in their November 4, 2026 elections.” She further said, “President Bola Tinubu has again asked the National Assembly to approve a new external borrowing plan of $7.7 billion (approximately ₦10.79 trillion) to help finance the 2026 budget deficit, making this a case of a one-week, new loan.” She observed that Americans, like Nigerians, are grappling with the high cost of living and economic hardship.
Editorial Excerpt
The National Leadership of the Nigeria Democratic Congress (NDC) has strongly criticised President Bola Tinubu over his request to the National Assembly for approval of a fresh $7.7bn (approximately ₦10.79tn) external borrowing plan to partly finance the 2026 budget deficit.
Frequently Asked Questions About This Story
What is the latest development regarding Federal Capital Territory?
By Henry Umoru, Abuja The National Leadership of the Nigeria Democratic Congress (NDC) has strongly criticised President Bola Tinubu over his request to the National Assembly for approval of a fresh $7.7bn (approximately ₦10.79tn) external borrowing plan to partly finance the 2026 budget deficit.
Who are the key organizations or public figures mentioned?
According to her, the country’s growing debt burden, in light of new loan requests by President Bola Tinubu, and the obligations being passed on to future generations make this election too important for citizens to sit out, just as the party appealed to Nigerians to turn out massively and vote for Mr Peter Obi and Eng.
What timeline or key figures were confirmed?
By Henry Umoru, Abuja The National Leadership of the Nigeria Democratic Congress (NDC) has strongly criticised President Bola Tinubu over his request to the National Assembly for approval of a fresh $7.7bn (approximately ₦10.79tn) external borrowing plan to partly finance the 2026 budget deficit.
