The African Democratic Congress (ADC) National Legislators’ Forum has strongly criticised President Bola Ahmed Tinubu over his request for Senate approval of an additional external loan of $516,333,070 for the proposed Sokoto–Badagry Super Highway project.
In a statement issued by its chairman, Hon. Uko Ndukwe Nkole, the forum described the move as “alarming,” accusing the administration of adopting what it called a pattern of reckless borrowing without adequate consideration for long-term economic sustainability.
The ADC lawmakers acknowledged the importance of infrastructure development but questioned the conditions surrounding the loan and the government’s repayment strategy. According to the forum, the federal government has yet to provide a clear, transparent, and economically viable plan for managing Nigeria’s growing debt profile.
The group expressed concern that Nigeria’s rising debt burden is already placing significant strain on national revenue, with a large portion reportedly going toward debt servicing. It warned that continued borrowing could worsen the country’s fiscal position and threaten its economic sovereignty.
The forum also raised concerns about the timing of the loan request, noting that it comes as the country approaches another general election cycle. It urged Nigerians to scrutinize the motive behind what it described as a “borrowing spree,” suggesting the possibility of political considerations influencing fiscal decisions.
Calling on the National Assembly to act independently, the ADC legislators urged the Senate to thoroughly review the loan request. They demanded full disclosure of the project’s financial details, including procurement processes, cost-benefit analysis, and a credible repayment plan.
The forum further advised the Tinubu administration to prioritize policies aimed at strengthening the domestic economy, including boosting productivity, encouraging industrial growth, creating jobs, and addressing revenue leakages.
It warned that decisions made today could have lasting consequences for future generations, stressing that leaders must be held accountable for policies that deepen economic hardship.
The statement concluded by noting that Nigeria is at a critical point, urging the government to choose a path of fiscal discipline and sustainable growth rather than increasing dependence on debt.
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