Former Vice-President Atiku Abubakar has criticised President Bola Tinubu over a $516 million loan request to fund sections of the Sokoto–Badagry superhighway.
Tinubu had asked the National Assembly of Nigeria to approve a $516,333,007 foreign loan to support the construction of sections of the Sokoto–Badagry superhighway project.
The request, read during plenary, stated that the loan would be sourced from a syndicated facility led by Deutsche Bank and would cover sections 1, 1A, and 1B of the project.
The national assembly has since approved the request.
Reacting through his aide, Phrank Shaibu, Atiku said while infrastructure linking the north-west to the south-west is “necessary and desirable”, “noble intentions cannot excuse reckless fiscal choices”.
“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,” he said.
He cautioned against framing the issue along regional lines, stressing that Nigerians expect responsible and transparent development.
“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.
Atiku also questioned the award of the project to Hitech Construction Limited, alleging a lack of competitive bidding.
“Nigerians have not forgotten the controversy surrounding the Lagos-Calabar Coastal Highway, where due process and competitive bidding were widely questioned,” he said.
“It is therefore deeply troubling that a similar opaque approach appears to be playing out again, this time funded by borrowed money.”
He further criticised what he described as non-transparent contract awards.
“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,” the statement read.
“Public infrastructure cannot become a private bazaar for cronies and connected interests. Every kobo borrowed in the name of the Nigerian people must be matched with transparency, accountability, and strict adherence to procurement laws.”
The former presidential candidate urged lawmakers to scrutinise the loan terms and ensure 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,” he said.