Former Vice President Atiku Abubakar has raised concerns over President Bola Tinubu’s request for Senate approval of a fresh $516m external loan to fund sections of the Sokoto–Badagry Super Highway.
In a statement signed by his Senior Special Assistant on Public Communication, Phrank Shaibu, the former Vice President acknowledged the importance of the project but warned against rising debt levels and weak transparency in borrowing decisions.
He said, “At a time when Nigeria is already groaning under the weight of unsustainable debt, the resort to yet another foreign loan—without transparent terms, clear cost-benefit analysis, and a credible repayment framework—raises profound questions about prudence and accountability.
“This is not a regional issue, nor should it be framed as one. The people of Northern Nigeria, like their counterparts across the country, deserve development that is sustainable, transparent, and not mortgaged against their future.
“What Nigerians expect is not just ambitious projects, but responsible financing. Development must not become a euphemism for deepening debt traps that generations yet unborn will be forced to repay.”
Atiku further cautioned the National Assembly against approving the loan without rigorous scrutiny.
“Nigeria must build, but Nigeria must not borrow blindly. Progress anchored on opacity and debt accumulation is neither progress nor leadership—it is postponement of crisis,” he added.
It would be recalled that the President had written to the Senate seeking approval for a $516,333,070 external loan to finance parts of the 1,000-kilometre highway project, a flagship infrastructure initiative under his administration.
The request, addressed to the President of the Senate, Godswill Akpabio, was read during plenary on Thursday, formally triggering legislative consideration.
According to the President, the loan—expected to be sourced from Deutsche Bank—will support the construction of Sections 1, 1A, and 1B of the highway linking Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, stretching from Illela to Badagry.
