The African Democratic Congress (ADC) has criticized the Speaker of the House of Representatives, Tajudeen Abbas, for retracting his earlier statement on Nigeria’s rising debt profile. According to a statement by the party’s spokesman, Bolaji Abdullahi, the Speaker had initially expressed concern that the country’s debt-to-gross domestic product (GDP) ratio had exceeded the statutory limit of 40 percent, currently standing at 52 percent.

The Speaker’s initial remarks were made in reference to the country’s growing debt crisis under President Bola Tinubu. However, he later withdrew his statement, sparking criticism from the ADC. The party viewed the Speaker’s initial admission as a rare moment of honesty, but his subsequent withdrawal of the remarks as a display of political cowardice and legislative complicity.

The ADC stated that the Speaker’s decision to retract his statement rather than standing by his words and advocating for the people, demonstrated a prioritization of political expediency over transparency and accountability. The party’s spokesman emphasized that the Speaker’s initial statement had offered a glimpse of truth, but was quickly retracted in favor of political correctness.

Nigeria’s debt profile has been a subject of concern in recent times, with the country’s debt stock increasing significantly over the years. The National Assembly has been accused of complicity in the debt crisis, with some critics arguing that the legislative body has not done enough to address the issue.

The ADC’s criticism of the Speaker’s actions highlights the need for greater transparency and accountability in Nigeria’s governance. The party’s statement also underscores the importance of legislative oversight in addressing the country’s debt crisis. As the debate over Nigeria’s debt profile continues, it remains to be seen how the National Assembly will respond to growing concerns over the country’s fiscal sustainability.