ADC Lawmakers Forum Opposes New $516M Loan Request

The ADC lawmakers’ forum raised significant concerns over a fresh loan request of $516 million intended for the Sokoto-Badagry super highway project. In a statement released on Friday in Abuja, the forum described the government's repeated borrowing as akin to mortgaging Nigeria's future.

They criticized the administration for failing to convincingly demonstrate a coherent and transparent economic strategy for loan repayment, highlighting a troubling pattern of debt accumulation. The forum's chairman, Hon.

Uko Ndukwe Nkole, along with zonal leaders, emphasized that Nigeria is already burdened by a crushing debt load, with debt servicing consuming a staggering proportion of national revenue. They warned that this new loan would further tighten the noose around the nation's economy and sovereignty, leaving future generations to bear the consequences of the current government's lack of foresight.