ADC Legislators' Forum criticizes President Tinubu's $516 million loan request for Sokoto–Badagry highway

The African Democratic Congress Legislators’ Forum has criticized President Bola Tinubu’s request for Senate approval of an additional $516,333,070 external loan to fund parts of the Sokoto–Badagry Super Highway project. In a statement issued on Thursday, the lawmakers, including Uko Nkole, Chairman, ADC National Legislators’ Forum, described the request as "reckless borrowing" and warned against rising debt dependency and fiscal risk. The forum stated that this request is emblematic of an administration that has made reckless borrowing its default economic policy, with little regard for sustainability, accountability, or the well-being of future generations. While acknowledging the importance of infrastructure, the group questioned the government’s lack of a clear repayment strategy, noting a troubling pattern where debt accumulation is prioritized over prudent fiscal management, innovation, and domestic resource mobilization. The legislators warned that Nigeria’s already heavy debt burden was worsening, with debt servicing consuming a significant share of national revenue, risking a "looming debt catastrophe" and undermining economic sovereignty. They also raised concerns about the timing of the loan request, questioning whether it was driven by development needs or political considerations ahead of the election cycle. The forum urged the National Assembly to demand full disclosure of financial details, procurement processes, cost-benefit analysis, and a credible repayment