Atiku Blasts Tinubu Over $516m Loan Request For Sokoto–Badagry Superhighway, "Deepening Debt Traps"
- Atiku Abubakar criticised President Bola Ahmed Tinubu over $516 million loan for the Sokoto–Badagry Superhighway project
- The former vice president warned against prioritising borrowing over responsible governance and sustainable development
- Atiku urged federal lawmakers to scrutinise loan terms for the benefit of Nigerians
Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
FCT, Abuja - Former Vice President Atiku Abubakar has lashed out at President Bola Ahmed Tinubu over the approval of a fresh $516 million external loan.
Legit.ng reports that President Tinubu asked the Senate to approve a fresh $516m loan from Deutsche Bank to fund sections of the Sokoto–Badagry Super Highway.
The 1,000-kilometre project is designed to connect Nigeria’s North-West and South-West, cutting travel time between Sokoto and Lagos almost in half.
The chieftain of the African Democratic Congress (ADC) said noble intentions of infrastructural development cannot excuse reckless fiscal choices.
Atiku said borrowing must never replace creativity in governance or efficiency in resource management.
This was contained in a statement issued by Atiku’s Senior Special Assistant on Public Communication, Phrank Shaibu, and made available to Legit.ng on Thursday, April 23, 2026.
“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 said Nigerians across the country deserve development that is sustainable, transparent, and not mortgaged against their future.
He warned that this is not a regional issue, nor should it be framed as one.
“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.
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He questioned the logic and morality of borrowing public funds to finance projects allegedly awarded to Hitech Construction Company Limited without due process.
“What manner of leadership takes loans in the name of the Nigerian people, only to channel those resources into contracts awarded without transparency to associates and insiders? This is not governance—it is a betrayal of public trust.”
Atiku said that the Sokoto–Badagry project must not be reduced to another exercise in favouritism or insider contracting.
The ADC 2027 presidential aspirant urged the National Assembly to subject the loan request to the highest level of scrutiny.
Atiku called on the federal lawmakers to ensure that the terms are in the best interest of the Nigerian people and that the project delivers measurable economic value.
“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.”
Tinubu approves N68bn for new power plant
Meanwhile, Legit.ng also reported that President Tinubu approved N68 billion for the Maiduguri Power Plant.
The funding will come through a monthly intervention of N2 billion from March 2026 to December 2028.
It will help bridge the existing funding gap in the operations of the 50MW Power Plant, which was commissioned in 2023.
Source: Legit.ng
