The African Democratic Congress (ADC) has accused President Bola Ahmed Tinubu’s administration of misleading Nigerians with “false statistics” on revenue generation, insisting the government’s claims do not add up.

In a statement on Thursday, the party’s National Publicity Secretary, Bolaji Abdullahi, described the recent celebration of revenue mobilisation as “propaganda built on lies,” citing a N21.22 trillion shortfall between the 2025 budget projection and actual collections.

“When the 2025 budget was passed, it projected a total revenue of N41.81 trillion. Yet today, the Federal Government is celebrating the mobilisation of N20.59 trillion, leaving a gaping shortfall of N21.22 trillion,” Abdullahi said. “These figures simply do not add up. Even more troubling is that not all the revenue in question flows to the Federal Government.”

The party also faulted Tinubu’s recent claim that the naira had improved from N1,900 to N1,450 to the dollar, describing it as “patently false.” It noted that the naira traded at about N460 to the dollar at the official window and N700–N800 at the parallel market when Tinubu assumed office in May 2023.

On borrowing, the ADC pointed to the Debt Management Office’s August 26 announcement that N136.16 billion was raised through a bond auction, as well as the $21 billion loan approved by the National Assembly in July, which it said had pushed Nigeria’s debt stock to a record $120 billion (N180 trillion).

“The question to ask is: if revenues are truly being met, why is this government still borrowing?” the ADC queried.

The opposition party further criticised the recent introduction of a 5% petrol tax and a 300% hike in the cost of international passports, calling both policies “cruel and insensitive.” It argued that the fuel levy worsens the impact of subsidy removal, while the steep rise in passport fees makes Nigeria’s travel document one of the most expensive in the world relative to income.