Debt Accumulation: Tinubu Running Ponzi Economy, Says ADC

The African Democratic Congress (ADC) has accused the administration of Bola Ahmed Tinubu of operating what it described as a “Ponzi economy” following the Federal Government’s move to seek an additional $1.25 billion loan from the World Bank amid Nigeria’s growing debt burden estimated at about N159.28 trillion.
In a statement issued by the party’s National Publicity Secretary, Bolaji Abdullahi, the ADC alleged that the government was relying on fresh borrowing to service existing debts while Nigerians continue to grapple with worsening economic conditions, including rising food prices, unemployment, insecurity, inflation, and business closures.
According to the party, the continuous...