ADC Legislators’ Forum Condemns President Tinubu’s Request for New $516 Million External Loan

The ADC Legislators’ Forum slams President Tinubu’s $516 million loan request for the Sokoto-Badagry highway, calling it reckless and a threat to future generations.

By: AXL Media

Published: Apr 24, 2026, 3:31 AM EDT

Source: Information for this report was sourced from LEADERSHIP News.

Opposition to Highway Financing

The African Democratic Congress (ADC) Legislators’ Forum has issued a strong condemnation of President Bola Tinubu’s recent proposal to secure an additional $516,333,070 in external financing. The request, which was formally presented to the Senate by President Godswill Akpabio on Thursday, April 23, 2026, aims to fund critical segments of the Sokoto–Badagry Super Highway. While the presidency frames the loan as a necessary component of the "Renewed Hope Agenda," opposition lawmakers argue the administration is prioritizing debt accumulation over sustainable fiscal reform.

Concerns Over Debt Sustainability

In a joint statement led by Hon. Uko Ndukwe Nkole, the ADC forum described the borrowing spree as a "looming debt catastrophe." The lawmakers highlighted that debt servicing is already consuming a disproportionate share of national revenue, leaving little room for essential social services. They accused the administration of failing to provide a coherent or economically viable repayment plan, suggesting that continuous borrowing without structural innovation "tightens the noose" around the nation's future economic prospects.

Questions of Political Motive

The timing of the $516 million request has also come under scrutiny. With the political climate intensifying ahead of major electoral cycles, the ADC legislators questioned whether the loan is truly intended for development or if it serves as a vehicle for "political patronage and electoral advantage." They urged the Nigerian public to be wary of large-scale financial commitments made late in an administration’s term under the guise of national interest.