The African Democratic Congress (ADC) Legislators’ Forum has faulted President Bola Tinubu over a proposed $516 million external loan request, warning that continued borrowing could jeopardise Nigeria’s economic future.

In a statement issued by the forum on Thursday, it described the loan request, reportedly tied to the Sokoto-Badagry Super Highway project as part of what it termed a “borrowing binge” by the current administration.

“This government has failed to convincingly demonstrate that its endless appetite for loans is guided by a coherent, transparent, and economically viable repayment strategy.

“Instead, Nigerians are witnessing a troubling pattern; one where debt accumulation is prioritized over prudent fiscal management, innovation, and domestic resource mobilization,” the statement partly read.

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The lawmakers expressed concern over Nigeria’s rising debt profile, noting that debt servicing already consumes a significant portion of government revenue.

They argued that additional loans without a clear repayment strategy could worsen the country’s fiscal challenges.

According to the them, while infrastructure development remains important, it must be pursued with transparency, accountability, and sustainable financing plans.

The forum also called on the National Assembly of Nigeria, particularly the Senate, to thoroughly scrutinise the loan request and demand full disclosure of project details, including cost implications and repayment structure.

They further urged the government to prioritise economic policies that promote productivity, job creation, and domestic revenue generation instead of relying heavily on borrowing.

The ADC legislators warned that decisions taken now could have long-term consequences for future generations, urging a more disciplined and transparent approach to public finance management.