Former Vice President Atiku Abubakar has raised serious concerns over a request by President Bola Ahmed Tinubu seeking Senate approval for a fresh $516 million external loan to finance parts of the Sokoto–Badagry Superhighway project. In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku acknowledged that infrastructure development—especially projects aimed at linking the Northwest to the Southwest—is both necessary and desirable. He stressed that no region should be left behind in Nigeria’s pursuit of national integration and economic growth, but warned that noble intentions must not justify reckless fiscal decisions.
“At a time when Nigeria is already burdened by unsustainable debt, the move to secure yet another foreign loan—without transparent terms, a clear cost-benefit analysis, and a credible repayment plan—raises serious concerns about prudence and accountability,” he said. Atiku emphasized that the issue should not be reduced to regional sentiment, noting that Nigerians across all regions deserve development that is sustainable, transparent, and not mortgaged against their future.
“What Nigerians demand is not just ambitious projects, but responsible financing. Development must not become a euphemism for deepening debt traps that future generations will be forced to repay,” he added. The former Vice President maintained that while strategic infrastructure can unlock economic opportunities, such initiatives must be guided by fiscal discipline, clear prioritization, and transparency. According to him, borrowing should never substitute for innovation in governance or efficiency in resource management.
He also expressed concern over reports that the project was awarded to Hitech Construction Company Limited without a transparent and competitive bidding process, describing it as a troubling continuation of patterns seen in the Lagos-Calabar Coastal Highway project. “Nigerians have not forgotten the controversy surrounding the Lagos-Calabar Coastal Highway, where due process and competitive bidding were widely questioned. It is deeply troubling that a similar opaque approach appears to be recurring—this time funded with borrowed funds,” he said.
Atiku questioned the rationale behind borrowing public funds for projects allegedly awarded without due process. “What kind 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,” he stated. He insisted that the Sokoto–Badagry Superhighway must not become another avenue for favoritism or insider contracting.
“Public infrastructure cannot be turned into a private bazaar for cronies and vested interests. Every kobo borrowed in the name of Nigerians must be matched with transparency, accountability, and strict adherence to procurement laws,” he added. Atiku called on the National Assembly to subject the loan request to rigorous scrutiny, ensuring that its terms serve the best interests of Nigerians and that the project delivers measurable economic value.
“Nigeria must build, but it must not borrow blindly. Progress built on opacity and mounting debt is neither progress nor leadership—it is merely a postponement of crisis,” he concluded.
