ADC Lawmakers Condemn President Tinubu’s $516 Million Loan Request for Superhighway Project

ADC legislators condemn President Tinubu's $516.3 million loan request, citing concerns over "reckless borrowing" and a lack of a clear repayment plan.

By: AXL Media

Published: Apr 24, 2026, 4:48 AM EDT

Source: Information for this report was sourced from LEADERSHIP Media Group

Opposition Voices Alarm Over "Debt Dependency"

The African Democratic Congress (ADC) Legislators’ Forum has issued a formal condemnation of the Tinubu administration’s latest financial maneuvers. The group’s reaction follows a letter from President Bola Tinubu, read during a Senate plenary on Thursday by Senate President Godswill Akpabio, requesting authorization for a $516,333,070 syndicated loan. While the presidency frames the loan as essential for the Sokoto–Badagry Superhighway—a cornerstone of the "Renewed Hope Agenda"—the ADC lawmakers argue that the policy reflects a lack of fiscal discipline and a disregard for national economic sovereignty.

Questioning the Repayment Strategy and Transparency

A primary concern raised by the forum, led by Chairman Hon. Uko Ndukwe Nkole, is the perceived absence of a transparent repayment plan. The legislators maintained that the government has failed to provide an economically viable strategy to manage the new debt, especially as debt servicing already consumes a significant portion of national revenue. The ADC forum warned that each new loan "tightens the noose" around Nigeria’s economic future, leaving future generations to inherit a country mortgaged by current leadership.

Skepticism Over Timing and Political Motives

The lawmakers also drew attention to the timing of the $516 million request. As Nigeria approaches a major general election cycle, the ADC forum suggested that the borrowing spree might be motivated by more than just infrastructure needs. They questioned whether the large-scale financial commitment is intended to create avenues for political patronage and electoral advantages. The statement urged Nigerians to be wary of "last-minute" financial commitments made under the guise of national interest.