The Advice To Tinubu To Borrow $20.5b And €1.04b To Buy Votes, Must Have Come From A Madman–Okonkwo

According to a report by Daily Post on Wednesday, October 28, 2026, Kenneth Okonkwo, a chieftain of the African Democratic Congress (ADC), has criticised President Bola Tinubu’s proposed borrowing of $20.5 billion and €1.04 billion, estimated at N30.2 trillion, describing the timing as suspicious ahead of the 2027 general elections.

Okonkwo expressed concern over the proposed loans during an interview on News Central Television on Wednesday, questioning the rationale behind seeking such a substantial amount shortly before Nigerians head to the polls to elect their next leaders.

The ADC chieftain suggested that the proposed borrowing could be connected to the forthcoming elections rather than efforts to improve the country’s economy or finance development projects.

He questioned the advice given to the President regarding the decision to secure the loans at this particular time.

According to Okonkwo, borrowing such a significant amount on the eve of the 2027 general elections raises concerns about the government’s intentions.

He alleged that the funds could be channelled towards influencing voters and securing electoral advantage rather than addressing the country’s pressing economic challenges.

He maintained that the timing of the proposed borrowing was particularly troubling, considering its estimated value of N30.2 trillion.

Okonkwo argued that the government should provide a convincing explanation for seeking such extensive financial commitments as the country approaches another election cycle.

The ADC chieftain further alleged that the proposed loans were intended to facilitate electoral manipulation.

He insisted that the borrowing was not primarily motivated by development needs, but was connected to plans surrounding the 2027 general elections.

His remarks came amid concerns over the scale of the proposed foreign borrowing and its possible implications for the country.

Speaking during the television interview, Okonkwo strongly criticised the advice reportedly given to Tinubu to seek the loans, alleging that the funds were intended for vote-buying.

“The advice to Tinubu to borrow $20.5b and €1.04b (N30.2trn) on the eve of the election must have come from a madman and is targeted to be used to buy votes,” he said.

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