Senate President Godswill Akpabio has defended the Federal Government’s plan to secure a fresh $516 million loan, stating that borrowing for infrastructure development remains a viable strategy for economic growth.
Akpabio made the remark while commending President Bola Ahmed Tinubu over the proposed loan, which is expected to fund the Sokoto–Badagry Superhighway project.
According to him, loans tied to critical infrastructure can ultimately repay themselves by stimulating economic activities, improving connectivity, and boosting national revenue.
“It is better to borrow for projects and infrastructure so that, at the end of the day, we can repay through the infrastructure,” Akpabio stated.
Supporters of the move argue that large-scale infrastructure projects like the Sokoto–Badagry Superhighway could unlock economic opportunities and enhance trade across regions. However, critics remain cautious, warning that increasing debt without immediate economic returns may place additional strain on the country’s finances.
The proposed loan request is expected to be reviewed by the National Assembly in the coming weeks as discussions continue over its potential impact on Nigeria’s economy.
