Atiku faults Tinubu’s $516m loan request for Sokoto–Badagry highway

Former Vice President Atiku Abubakar on Thursday raised strong objections to President Bola Tinubu’s request for Senate approval of a fresh $516 million external loan to fund sections of the Sokoto–Badagry Superhighway.

His concerns were contained in a statement signed by his Senior Special Assistant on Public Communication, Phrank Shaibu, amid growing debate over Nigeria’s rising debt profile and the financing of major infrastructure projects.

While acknowledging the importance of the proposed highway, which is designed to link the North-West to the South-West, the former vice president warned against what he described as a pattern of borrowing without adequate safeguards.

Atiku further noted that infrastructure development—particularly one that seeks to connect the Northwest to the Southwest—is both necessary and desirable. Indeed, no region of Nigeria should be left behind in the march toward national integration and economic expansion.

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.”

The chieftain of the African Democratic Congress further stressed that while large-scale infrastructure can unlock economic opportunities, it must be pursued with fiscal discipline and openness.

According to him, borrowing should not substitute for innovation in governance or efficient resource management.

He also called for full transparency in the award and execution of the project, referencing past controversies.

“Nigerians have not forgotten the serious questions surrounding the opaque award process of the Lagos-Calabar Coastal Highway—where due process, competitive bidding, and value-for-money considerations were widely called into question. We must not replicate such a troubling precedent.

“Public infrastructure cannot become a private bazaar for cronies and connected interests. Every kobo borrowed in the name of the Nigerian people must be matched with transparency, accountability, and strict adherence to procurement laws,” Atiku warned.

The former vice president urged the National Assembly to subject the loan request to rigorous scrutiny to ensure it serves the national interest.

“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,” Atiku added.

President Tinubu had on Thursday written to the Senate seeking approval for a $516,333,070 external loan to finance parts of the 1,000-kilometre Sokoto–Badagry Super Highway, a flagship infrastructure project under his administration.

The request, addressed to the President of the Senate, Godswill Akpabio, was read during plenary, formally triggering legislative consideration.

According to the President, the loan—expected to be sourced from Deutsche Bank—will support the construction of key segments of the highway linking Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun and Lagos states, stretching from Illela to Badagry.