Former Vice President Atiku Abubakar has strongly criticised President Bola Ahmed Tinubu over the approval of a fresh $516 million external loan request for the Sokoto–Badagry Superhighway project. The loan, sought from Deutsche Bank, is intended to fund sections of the 1,000-kilometre highway connecting Nigeria's North-West and South-West, which aims to slash travel time between Sokoto and Lagos by nearly half.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, on Thursday, April 23, 2026, Atiku warned against prioritising borrowing over responsible governance and sustainable development. He urged federal lawmakers to scrutinise the loan terms to ensure they benefit Nigerians, not deepen the country's debt burden.
Atiku Questions Fiscal Prudence
Atiku, a chieftain of the African Democratic Congress (ADC), said noble intentions of infrastructural development cannot excuse reckless fiscal choices. He argued that borrowing must never replace creativity in governance or efficiency in resource management.
“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 stated.
He emphasised that Nigerians deserve development that is sustainable, transparent, and does not mortgage their future. “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 added.
Concerns Over Due Process
Atiku 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,” he said.
He called for the Sokoto–Badagry project not to 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, ensuring the terms serve the best interest of Nigerians and deliver 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,” Atiku warned.
Background on the Loan and Project
President Tinubu had asked the Senate to approve the $516 million loan from Deutsche Bank for the highway project. The 1,000-kilometre Sokoto–Badagry Super Highway is designed to connect Nigeria's North-West and South-West, significantly reducing travel time between Sokoto and Lagos.
In a related development, Legit.ng reported that President Tinubu also approved N68 billion for the Maiduguri Power Plant, with funding through a monthly intervention of N2 billion from March 2026 to December 2028. This aims to bridge the funding gap in the operations of the 50MW power plant commissioned in 2023.
The article was authored by Adekunle Dada, a Politics and Current Affairs Editor at Legit.ng, who holds a B.Sc. in Mass Communication from Lagos State University and has over eight years of experience covering metro, government policy, and international issues.
