The African Democratic Congress (ADC) National Legislators’ Forum has faulted President Bola Ahmed Tinubu over a fresh request for Senate approval of a $516,333,070 external loan for the Sokoto–Badagry Super Highway project, describing it as part of a “reckless borrowing spree.”

In a statement issued in Abuja on Friday, and signed by its chairman, Hon. Uko Ndukwe Nkole and co-signed by other geopolitical leaders of body, the forum warned that the continued resort to external borrowing could mortgage Nigeria’s economic future if not backed by transparency and a sustainable repayment plan.

The lawmakers said while infrastructure development remains critical, the growing debt profile of the country raises concerns about fiscal discipline and long-term sustainability.

“This request is not only alarming but emblematic of an administration that has made reckless borrowing its default economic policy, with little regard for sustainability, accountability, or the wellbeing of future generations,” the statement read.

According to the forum, Nigeria’s rising debt burden coupled with high debt servicing obligations requires a more cautious and strategic approach rather than what it described as “endless appetite for loans.”

The ADC legislators questioned the rationale behind the timing of the loan request, noting that it comes as the country approaches another general election cycle.

“Is this truly about development, or is it another attempt to create avenues for political patronage and electoral advantage?” the group asked.

They urged the National Assembly, particularly the Senate, to subject the loan request to rigorous scrutiny and avoid acting as a rubber stamp.

“The Senate must demand full disclosure of the project’s financial details, procurement processes, cost-benefit analysis, and a credible repayment plan,” the forum stated, warning that failure to do so would amount to a breach of public trust. (Daily Trust)

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