ADC’s Owokoniran Questions Tinubu’s Economic Management Over Nigeria’s ₦166trn Debt
Hon. Rahman Owokoniran, ruminating on the performance of the Federal Ministry of Finance under President Bola Ahmed Tinubu, has expressed concerns over Nigeria’s rising public debt, economic hardship, taxation and the management of public resources.
Owokoniran observed that Nigeria’s public debt, which stood at ₦166.79 trillion as of June 2026, raised serious questions about the government’s borrowing strategy and the benefits Nigerians were receiving from borrowed funds.
He argued that borrowing should translate into visible development, including better roads, electricity, healthcare, education, job creation and improved public infrastructure.
Nigerians, he maintained, deserved to know how borrowed funds were being spent, which projects had been completed and what impact the spending had had on the economy.
He also expressed concerns that despite government claims of economic progress and increased revenue, millions of Nigerians continued to struggle with high food prices, transportation costs, unemployment and the rising cost of doing business.
He stressed that economic success should be measured by improvements in people’s daily lives, not merely by government announcements.
On taxation, Owokoniran maintained that reforms must be fair and should not place additional pressure on low-income earners, small businesses and struggling households.
He called for a tax system that encouraged productivity, supported investment and expanded government revenue without discouraging businesses.
He further emphasised the need for transparency in budget implementation, responsible borrowing and stronger financial accountability, insisting that public funds must be properly monitored and directed towards projects that delivered measurable benefits.
Speaking on the political direction ahead, Owokoniran highlighted the candidacy of Atiku Abubakar, the ADC Presidential Candidate, and Rotimi Amaechi, the ADC Vice-Presidential Candidate, describing their publicly-stated economic proposals as an alternative approach worthy of national attention.
He pointed to Atiku Abubakar’s advocacy for a private sector-led economy, stronger fiscal Federalism, investment promotion, job creation and improved accountability in public spending.
He also highlighted Atiku’s proposals to strengthen public audit institutions and make government finances more transparent.
On the part of Rotimi Amaechi, Owokoniran drew attention to the former Governor’s support for local production, domestic industries and production incentives for local petroleum refineries.
“Amaechi’s proposals focus on reducing production costs, supporting businesses and easing economic pressures,” the ADC chieftain said.
Owokoniran encouraged Nigerians to give Atiku and Amaechi all the necessary support in the 2027 general elections “so that the Nigeria we desire becomes possible with Atiku and Amaechi.”
He said that the Federal Ministry of Finance must demonstrate how government revenue and borrowed funds were being utilised, while ensuring that economic reforms produced tangible results for ordinary Nigerians.
He stressed that Nigeria needed fiscal discipline, transparent governance, responsible borrowing and policies that placed citizens’ welfare at the centre of national development.
