The African Democratic Congress Legislators’ Forum has criticised President Bola Tinubu’s request for Senate approval of an additional $516,333,070 external loan to fund parts of the Sokoto–Badagry Super Highway project, warning against what it described as rising debt dependency and fiscal risk.
In a statement issued on Thursday and signed by Uko Nkole (Chairman, ADC National Legislators’ Forum), Nnenna Ukeje (South-East), Sergius Ogun (South-South), Ajagbe H (South-West), Zakari Mohammed (North-Central), Koko Shehu (North-West) and Maigari Bello (North-East), the lawmakers said the request reflects “reckless borrowing” by the administration.
The forum said, “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 well-being of future generations.”
While acknowledging the importance of infrastructure, the group questioned what it described as the government’s lack of a clear repayment strategy, stating that Nigerians are witnessing “a troubling pattern where debt accumulation is prioritised over prudent fiscal management, innovation, and domestic resource mobilisation.”
It warned that Nigeria’s already heavy debt burden was worsening, with debt servicing consuming a significant share of national revenue, adding that continued borrowing risks deepening what it called a “looming debt catastrophe” and undermining economic sovereignty.
The legislators also raised concerns about the timing of the loan request, arguing that Nigerians were entitled to question whether the move was driven by development needs or political considerations ahead of the election cycle.
“The National Assembly must not act as a rubber stamp… The Senate must demand full disclosure of financial details, procurement processes, cost-benefit analysis and a credible repayment plan,” the statement said.
It further urged the government to prioritise productivity-driven policies, industrial growth, job creation and improved revenue generation instead of relying heavily on external borrowing.
President Tinubu had earlier written to the Senate seeking approval for the loan to finance parts of the 1,000-kilometre Sokoto–Badagry Super Highway, a flagship infrastructure project stretching across several states.
The request, read during Thursday’s plenary by Senate President Godswill Akpabio, stated that the loan—expected to be sourced from Deutsche Bank—would support construction of key sections linking Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun and Lagos States from Illela to Badagry.
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