Lawmakers from the African Democratic Congress (ADC) have criticised President Bola Ahmed Tinubu over his request for Senate approval of a $516.3 million external loan for the Sokoto–Badagry Super Highway project.
The President had asked for approval of the syndicated loan to fund key parts of the project, which is a major infrastructure plan under his Renewed Hope Agenda.
The request was presented in a letter read during plenary by Senate President Godswill Akpabio, seeking approval in line with the Debt Management Office Act.
However, the ADC Legislators’ Forum described the move as worrying, accusing the administration of excessive borrowing without proper attention to sustainability and accountability.
In a statement signed by its chairman, Uko Ndukwe Nkole, and other members, the group said that while infrastructure development is important, there are concerns about the cost and terms of the loan.
The lawmakers argued that the government has not clearly explained how the loan will be repaid, warning that continued borrowing could increase Nigeria’s debt burden.
They noted that debt servicing is already taking up a large portion of government revenue, raising fears about long-term economic pressure.
The forum also questioned the timing of the loan request, pointing out that it comes close to another election period.
They urged the National Assembly of Nigeria to carefully examine the proposal, stressing that lawmakers should not simply approve it without full details.
According to them, there should be complete transparency regarding the project’s costs, procurement process, and expected benefits.
The ADC lawmakers also advised the Federal Government to focus more on policies that promote economic growth, job creation, and increased revenue instead of relying heavily on borrowing.
They warned that decisions made now could have long-term effects on Nigeria’s economy and called for greater fiscal discipline and accountability.
