ADC slams FG over fresh loan, says Nigeria running on ‘Ponzi economy’

By Luminous Jannamike, ABUJA
The African Democratic Congress on Thursday accused President Bola Ahmed Tinubu’s administration of running what it described as a ‘Ponzi economy’ after the Federal Government moved to secure another $1.25 billion World Bank loan despite Nigeria’s growing public debt estimated at about N159.28 trillion.
The opposition party said the fresh loan request has further fuelled concerns over the country’s rising debt exposure at a time millions of Nigerians are struggling with soaring food prices, inflation, unemployment, business failures and worsening living conditions, nearly two years after the government introduced sweeping economic reforms.
The accusation...