Former Vice President Atiku Abubakar and economists don raise concern about President Bola Tinubu wey dey ask Senate to approve new $516m foreign loan to fund some parts of di Sokoto–Badagry Super Highway.

Di President don write letter to Senate to ask for $516,333,070 foreign loan to help build parts of di 1,000-kilometre road project, wey be one of im big infrastructure plans.

Di request, wey dem address to Senate President Godswill Akpabio, dem read am for plenary on Thursday, and dat start di legislative process.

According to di President, di loan—wey dem expect to take from Deutsche Bank—go help construct Sections 1, 1A, and 1B of di road wey go connect Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, from Illela go reach Badagry.

Atiku, for statement wey im Senior Special Assistant on Public Communication, Phrank Shaibu sign, e agree say di project important but e warn about rising debt level and low transparency for borrowing matters.

E talk: "For this time wey Nigeria already dey suffer under heavy debt wey no dey sustainable, to dey borrow another foreign loan—without clear terms, good cost-benefit analysis, and reliable repayment plan—dey raise big questions about prudence and accountability.

"This no be regional matter, and make nobody try turn am to one. Di people of Northern Nigeria, like dia brothers and sisters for other parts, deserve development wey go sustainable, transparent, and wey no go mortgage dia future.

"Wetin Nigerians want no be just big projects, but responsible financing. Development must not turn to another word for deepening debt traps wey unborn generations go suffer to pay."

Di former vice president still tell National Assembly make dem no approve di loan without serious checking. "Nigeria must build, but Nigeria must not borrow blindly. Progress wey dey based on opacity and debt accumulation no be progress or leadership—na just postponement of crisis," Atiku add.

Economists also talk different tings about di loan request, some warn say Nigeria rising debt profile dey risky for fiscal sustainability, while others say borrowing for infrastructure development dey okay.

Professor of Economics and Public Policy for University of Uyo, Prof Akpan Ekpo, warn say Nigeria growing reliance on foreign borrowing dey become wahala.

"Di economy dey get too exposed to foreign debt, dat be my worry. Di debt profile dey rise anyhow, e dey worry and disturb because we dey claim say we don almost reach our revenue target. Dis windfall from oil money, we for use am do wetin?

"Di windfall suppose go into infrastructure because when you keep borrowing, and we no sure say dem don do proper cost analysis, whether di tolls wey dem go collect for di road go fit pay for am for di next nine years, e go become burden," Ekpo talk.