Senate President Godswill Akpabio has thrown his weight behind Bola Ahmed Tinubu’s proposed $516 million loan, describing it as a necessary step to accelerate infrastructure development despite current economic constraints.
Speaking during legislative deliberations, Akpabio argued that borrowing for capital projects is preferable to inaction, especially when such investments deliver visible and lasting economic value.
“In these difficult times, when we don’t really have money, it is better to borrow for projects… better to borrow for infrastructure so that at the end of the day, we’ll have something to see,” he said, noting that repayment could be structured around the economic returns generated by the projects.
Supporting the position, another lawmaker urged the National Assembly’s committee on local and foreign debts to expedite its review of the loan request to enable swift approval, citing the urgency of bridging Nigeria’s infrastructure gap.
The lawmaker also highlighted progress on the long-awaited Sokoto–Lagos highway project, which he described as a transformative initiative. According to him, the road—under construction using concrete and fitted with solar-powered streetlights—has already recorded significant progress, with over 45 kilometres completed.
Stretching from Ilela in Sokoto State through Kebbi, Niger, Kwara, Oyo, Ogun and into Lagos, the highway is expected to drastically cut travel time between the northern and southern corridors.
“In less than six hours from Sokoto, you can reach Lagos instead of spending close to about 13 hours,” he said.
Lawmakers backing the proposal maintain that strategic borrowing for infrastructure remains critical to unlocking economic growth, improving connectivity, and delivering long-term national development.
Elijah Adeyemi
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