Former Vice President Atiku Abubakar has faulted President Bola Ahmed Tinubu’s request to the Senate to approve a fresh $516 million external loan to finance portions of the Sokoto–Badagry Superhighway project.
This is contained in a statement issued by Atiku’s spokesperson, Phrank Shaibu, on Thursday, adding that infrastructure development—particularly one that seeks to connect the Northwest to the Southwest—is both necessary and desirable.
Atiku said “indeed, no region of Nigeria should be left behind in the march toward national integration and economic expansion. However, noble intentions cannot excuse reckless fiscal choices.
“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.” Atiku stated.
The former VP said this is not a regional issue, nor should it be framed as one, adding that “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.”
He said while strategic infrastructure can unlock economic corridors, it must be pursued within the bounds of fiscal discipline, prioritization, and openness, adding that “borrowing must never replace creativity in governance or efficiency in resource management.”
Atiku said there was the need for absolute transparency in the award and execution of the project, pointing to earlier concerns raised over the Lagos-Calabar Coastal Highway.
“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,” Atiku noted.
He maintained that the Sokoto–Badagry project must not be another favour-seeking ploy or insider contracting, saying “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 asked the National Assembly to thoroughly scrutinize to ensure that the terms are in the best interest of the Nigerian people and the project delivers measurable economic value.
He said “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.”
