Atiku Slams Tinubu for Accumulating Additional $516m in Highway Loans, Citing Irresponsible Borrowing Practices

Former Vice President Atiku Abubakar has criticized President Bola Tinubu's request for Senate approval of a $516 million external loan to finance the Sokoto–Badagry Superhighway project, stating that Nigeria must avoid "borrowing blindly" in the name of development.

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Atiku Abubakar's Senior Special Assistant on Public Communication, Phrank Shaibu, issued a statement on Wednesday, in which Atiku acknowledged the importance of infrastructure development, particularly a project connecting the Northwest to the Southwest.

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Atiku drew a distinction between noble intentions and reckless fiscal decisions, warning that Nigeria's already unsustainable debt burden makes it crucial to approach foreign loans with caution and transparency.

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He emphasized that the matter should not be reduced to a regional debate, arguing that people across the country, including Northern Nigeria, deserve sustainable and transparent development, not one that mortgages their future.

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Atiku stated that Nigerians expect responsible financing, not just ambitious projects, and that development should not become a euphemism for deepening debt traps that future generations will have to repay.

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He argued that strategic infrastructure can unlock economic corridors, but it must be pursued within the bounds of fiscal discipline, sound prioritisation, and openness, and that borrowing should never substitute for creativity in governance or efficiency in resource management.

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Atiku cited the controversy surrounding the Lagos–Calabar Coastal Highway as a cautionary tale, highlighting the need for transparency and accountability in the contracting process.

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He warned that the Sokoto–Badagry project must not degenerate into "another exercise in favouritism or insider contracting", and that public infrastructure cannot become a private bazaar for cronies and connected interests.

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Atiku emphasized that every kobo borrowed in the name of the Nigerian people must be matched with transparency, accountability, and strict adherence to procurement laws.

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He urged the National Assembly to subject the loan request to the highest level of scrutiny, ensuring that its terms serve the interests of Nigerians and that the project delivers measurable economic value.

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Atiku concluded that Nigeria must build, but must not borrow blindly, as progress anchored on opacity and debt accumulation is neither progress nor leadership, but rather a postponement of crisis.