The African Democratic Congress (ADC) Legislators’ Forum has criticised President Bola Tinubu’s request for Senate approval of an additional $516,333,070 external loan to fund sections of the Sokoto–Badagry Super Highway project, warning of growing debt dependency and fiscal risks.
In a statement issued on Thursday and signed by forum chairman Uko Nkole alongside regional representatives, the lawmakers described the loan request as evidence of “reckless borrowing” by the administration.
The forum said the move was alarming and reflected an economic approach that prioritised borrowing over sustainability, accountability, and the welfare of future generations.
While acknowledging the importance of infrastructure development, the group questioned the absence of a clear repayment strategy, noting what it called a troubling pattern of rising debt accumulation instead of prudent fiscal management and domestic resource mobilisation.
The lawmakers warned that Nigeria’s debt burden continued to grow, with debt servicing already consuming a significant portion of government revenue. They cautioned that further borrowing could deepen what they described as a looming debt crisis and weaken the country’s economic sovereignty.
They also raised concerns about the timing of the request, arguing that Nigerians had a right to question whether the loan was driven by genuine development needs or political considerations ahead of the election cycle.
The forum urged the National Assembly to carry out thorough scrutiny, insisting that the Senate must demand full disclosure of financial details, procurement processes, cost-benefit analysis, and a credible repayment plan.
The group further advised the government to focus on productivity-driven policies, industrial growth, job creation, and improved revenue generation rather than relying heavily on external loans.
President Tinubu had earlier written to the Senate, with the request read during plenary by Senate President Godswill Akpabio, seeking approval for the loan, expected to be sourced from Deutsche Bank, to support key sections of the 1,000-kilometre highway linking several states from Illela to Badagry.
