BUSINESS

ADC SLAMS SPEAKER ABBAS FOR WITHDRAWING DEBT CRISIS COMMENT
The African Democratic Congress (ADC) has criticized the Speaker of the House of Representatives, Tajudeen Abbas, for retracting his earlier warning about Nigeria’s alarming debt profile.
In a statement issued on Tuesday by its spokesman, Bolaji Abdullahi, the ADC described Abbas’s withdrawal as an act of “political cowardice” and accused the National Assembly of complicity in the nation’s growing debt crisis under President Bola Tinubu’s administration.
The controversy began after Abbas openly admitted that Nigeria’s debt-to-GDP ratio had crossed the statutory limit, hitting 52 percent, which he warned posed a serious threat to fiscal sustainability. However, shortly after making the remarks, the Speaker reversed his position.
Reacting, the ADC praised his initial candor as a “rare moment of honesty”, but lamented his decision to backtrack.
“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, he chose to play safe and be politically correct,” the party said.
The ADC argued that the withdrawal highlights how political leaders often prioritize self-preservation over accountability, leaving citizens to bear the brunt of economic mismanagement.
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