The African Democratic Congress (ADC) Legislators’ Forum has kicked against President Bola Ahmed Tinubu’s move to secure Senate approval for an additional $516,333,070 external loan for the proposed Sokoto–Badagry Super Highway project.
In a statement jointly signed by its regional leaders, the forum described the request as “alarming” and indicative of what it called a pattern of excessive borrowing by the current administration.
The statement was endorsed by the forum’s National Chairman, Uko Ndukwe Nkole, alongside Nnenna Ukeje (South-East), Sergius Ogun (South-South), Ajagbe H. (South-West), Zakari Mohammed (North-Central), Koko Shehu (North-West) and Maigari Bello M. (North-East).
According to the lawmakers, while infrastructure development remains critical, the government must provide clarity on the financial and economic framework guiding such borrowing.
“This request is not only alarming but emblematic of an administration that has made reckless borrowing its default economic policy, with little regard for sustainability, accountability, or the wellbeing of future generations,” the statement read.
They argued that the federal government had yet to present a convincing repayment strategy, warning that Nigeria’s rising debt profile poses significant risks to economic stability.
The forum noted that debt servicing already consumes a substantial portion of national revenue, cautioning that additional loans could further strain the country’s fiscal position.
It also questioned the timing of the request, coming ahead of a major election cycle, suggesting that Nigerians may view the move with suspicion.
“Is this truly about development, or is it another attempt to create avenues for political patronage and electoral advantage?” the lawmakers queried.
The ADC legislators urged the National Assembly, particularly the Senate, to thoroughly scrutinise the loan request and avoid acting as a mere rubber stamp.
They called for full disclosure of the project’s financial details, procurement processes, cost-benefit analysis and a clear repayment plan before any approval is granted.
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The forum further advised the federal government to prioritise policies aimed at boosting productivity, industrial growth, job creation and improved revenue generation, rather than relying heavily on borrowing.
“Borrowing should never be a substitute for leadership, creativity, and accountability,” the statement added.
The lawmakers warned that decisions capable of undermining the nation’s economic future would ultimately attract public scrutiny and accountability.
They maintained that Nigeria faces a critical choice between pursuing sustainable economic reforms or deepening its dependence on debt, urging the administration to adopt a more disciplined fiscal approach.
