Atiku Critiques Tinubu's $516M Loan Request for Highway

Former Vice President Atiku Abubakar has reacted critically to President Bola Ahmed Tinubu's request for Senate approval of a fresh $516.3 million external loan. The loan, which is backed by Deutsche Bank AG and the Islamic Corporation for the Insurance of Investment and Export Credit, aims to fund the Sokoto-Badagry superhighway project.

Atiku cautioned against what he described as reckless borrowing, emphasizing the need for transparency and accountability in managing national debt. He highlighted concerns regarding the lack of clarity surrounding major infrastructure projects, referencing past controversies.

The project, which is expected to create a significant economic corridor connecting several states, has received support from Senate President Godswill Akpabio, who described it as an economic game changer. The Senate is set to review the proposal and report back within one week, with Atiku urging strict adherence to procurement laws to avoid further debt accumulation.