ATIKU FAULTS PRESIDENT TINUBU’SFRESH LOAN REQUEST.

Former Vice President, ATIKU ABUBAKARhas expressed concerns over President BOLA TINUBU’S request for Senate approval of a 516 million dollars external loan to fund sections of the Sokoto–Badagry Super Highway.

The loan request, totaling 516,333,070 dollars and expected to be sourced from Deutsche Bank., was formally presented to the Nigerian Senate and read during plenary by Senate President GODSWILL AKPABIO. 

The  President said the loan will finance Sections 1, 1A, and 1B of the proposed 1,000-kilometre highway, which is designed to connect multiple states including Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos, stretching from Illela to Badagry.

While acknowledging the strategic importance of the project, ATIKU in a statement issued by his aide, PHRANK SHAIBU cautioned against increasing Nigeria’s debt burden without sufficient transparency and planning, questioning the absence of clear loan terms, cost-benefit analysis, and a sustainable repayment plan.

ATIKU urged lawmakers to subject the proposal to thorough scrutiny before granting approval, stressing that infrastructure development should not come at the expense of fiscal responsibility.