Former Vice President Atiku Abubakar has raised fresh concerns over the Federal Government’s plan to secure a $516 million external loan for the proposed Sokoto–Badagry Superhighway, warning that Nigeria risks sliding deeper into a debt trap without proper accountability.
In a statement released through his aide, Phrank Shaibu, Atiku questioned the rationale behind seeking additional foreign borrowing at a time when the country is already grappling with mounting debt obligations. He stressed that while infrastructure development remains critical to national growth, it must not come at the expense of fiscal responsibility.
President Bola Ahmed Tinubu had requested Senate approval for the loan to finance sections of the ambitious highway project, designed to connect Nigeria’s Northwest to the Southwest and boost economic integration.
Atiku acknowledged the importance of such infrastructure, noting that no region should be excluded from development. However, he cautioned that good intentions do not justify what he described as “reckless fiscal decisions.”
He emphasized that Nigerians deserve transparency, clear cost-benefit analysis, and a credible repayment plan before any new borrowing is approved. According to him, development should not become a “euphemism for deepening debt burdens” that future generations will inherit.
Beyond the loan itself, Atiku also raised alarm over allegations that the project was awarded to Hitech Construction Company Limited without a transparent and competitive bidding process.
He likened the situation to the controversy surrounding the Lagos-Calabar Coastal Highway, where concerns about due process and procurement transparency were widely debated.
Describing the trend as troubling, Atiku questioned the logic of borrowing public funds to finance projects that may not follow due process. He warned against turning public infrastructure into what he called a “private bazaar” for politically connected interests.
The former Vice President urged the National Assembly to thoroughly scrutinize the loan request, ensuring that it aligns with national interest and delivers measurable economic value.
“Nigeria must build,” he stated, “but it must not borrow blindly.”
As debates continue around the project, Atiku’s remarks have added a new layer to the ongoing national conversation about debt, development, and accountability in governance.
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