Former Vice President Atiku Abubakar has raised strong objections to President Bola Tinubu’s request for Senate approval of a fresh $516 million external loan intended to fund sections of the Sokoto–Badagry Superhighway.
In a statement released Thursday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku acknowledged the importance of infrastructure projects that link regions and drive economic growth. However, he warned that such ambitions must not come at the cost of fiscal responsibility, describing the move as a troubling example of “reckless financial decision-making.”
While affirming that no part of Nigeria should be excluded from development, Atiku argued that noble goals cannot justify what he sees as imprudent borrowing. He cautioned that Nigeria’s already heavy debt burden makes the pursuit of additional foreign loans—without full transparency, detailed cost-benefit analysis, or a clear repayment strategy—deeply concerning.
Atiku stressed that the issue should not be viewed through a regional lens, insisting that all Nigerians deserve development that is sustainable and not built on debt that compromises the future. According to him, citizens are not just looking for ambitious infrastructure but for responsible financing that does not saddle future generations with repayment obligations.
He further noted that while transformative infrastructure can unlock economic opportunities, it must be guided by fiscal discipline, proper prioritisation, and openness. He warned against substituting borrowing for innovation or efficient resource management.
The former Vice President also questioned reports that the project was awarded to Hitech Construction Company Limited without a transparent and competitive bidding process. He linked this to earlier controversies surrounding the Lagos-Calabar Coastal Highway, where procurement procedures were widely criticised.
Atiku described the alleged lack of due process as alarming, especially for a project funded through borrowed money. He challenged the ethics of securing public loans only to award contracts in a manner that appears to favour insiders, calling such practices a betrayal of public trust.
He insisted that the Sokoto–Badagry Superhighway must not become another example of preferential contracting, emphasising that public infrastructure projects must adhere strictly to procurement laws and accountability standards.
Atiku urged the National Assembly to rigorously scrutinise the loan request, ensuring it serves the best interests of Nigerians and delivers tangible economic value.
He concluded with a warning: Nigeria must pursue development carefully, avoiding unchecked borrowing that could deepen financial vulnerabilities rather than resolve them.
