Atiku Abubakar has cautioned President Tinubu against “blind borrowing” for the $516 million Sokoto–Badagry Superhighway project, demanding transparency and fiscal discipline to avoid deepening Nigeria’s debt trap.
Former Vice President Atiku Abubakar has criticized President Bola Tinubu’s request for Senate approval of a new $516 million external loan intended to fund the Sokoto–Badagry Superhighway. In a statement released Wednesday by his spokesperson, Phrank Shaibu, Atiku warned that Nigeria is already “groaning under the weight of unsustainable debt.” While acknowledging the importance of connecting the Northwest and Southwest via infrastructure, he argued that borrowing without transparent terms or a clear repayment framework constitutes reckless fiscal decision-making.
Atiku raised concerns regarding the procurement process, citing the “opaque” award of the Lagos–Calabar Coastal Highway as a troubling precedent that must not be repeated. He cautioned that major public works should not become “a private bazaar for cronies,” insisting on strict adherence to competitive bidding and value-for-money considerations. He emphasized that the people of Northern Nigeria, and the country at large, deserve development that does not mortgage the future of generations yet unborn.
The former Vice President concluded by calling on the National Assembly to subject the loan request to the highest level of scrutiny. He urged the government to prioritize creativity in governance and efficiency in resource management over persistent borrowing. According to Atiku, progress anchored on debt accumulation and lack of transparency is not true leadership, but rather a “postponement of crisis” that will eventually destabilize the nation’s economy.