“Borrowing for infrastructure is not bad” — Akpabio defends Tinubu over $516m loan

Senate President Godswill Akpabio has defended President Bola Ahmed Tinubu’s request for a $516 million loan to fund the Sokoto–Badagry Superhighway, insisting that borrowing for critical infrastructure remains a necessary step for national development.

Speaking during Senate deliberations, Akpabio argued that loans tied to productive and impactful projects should not be dismissed, especially when they are capable of driving economic growth and improving citizens’ welfare.

He said the proposed superhighway, championed by the administration of Bola Tinubu, would significantly improve connectivity across regions, reduce travel risks, and enhance the movement of goods and services across the country.

According to him, the project represents a strategic long-term investment, stressing that infrastructure development remains central to unlocking Nigeria’s economic potential.

“Borrowing, when properly managed and channeled into productive ventures, can yield returns that outweigh the cost of the debt,” he maintained.

President Tinubu had earlier written to the National Assembly seeking approval for the loan to finance the major highway project expected to link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos States.

However, the proposal has continued to generate public debate, with critics warning about Nigeria’s rising debt profile and calling for stricter fiscal discipline alongside government borrowing plans.

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