By Adedapo Adesanya

The African Democratic Congress (ADC) Legislators’ Forum has condemned the latest move by President Bola Tinubu to secure Senate approval for an additional external loan of $516,333,070 for the Sokoto–Badagry Super Highway project.

Mr Tinubu requested Senate approval for a $516.3 million syndicated loan to finance key sections of the Sokoto–Badagry Superhighway, a major infrastructure project under his administration’s Renewed Hope Agenda from Deutsche Bank.

The request, contained in a letter read during plenary on Thursday by the Senate President, Mr Godswill Akpabio, seeks legislative authorisation in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011.

However, the opposition lawmakers said it is not only alarming but becoming of the Tinubu administration to make borrowing its default economic policy, with little regard for sustainability, accountability, or the well-being of future generations.

The forum, in a statement jointly signed by its chairman, Mr Uko Ndukwe Nkole, as well as leaders from each geopolitical zone, noted that while no responsible opposition undermines the importance of infrastructure development, the cost and conditions of such projects must be queried.

According to the ADC lawmakers, Mr Tinubu’s 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 prioritised over prudent fiscal management, innovation, and domestic resource mobilisation.

“Nigeria is already weighed down by a crushing debt burden, with debt servicing swallowing a staggering proportion of national revenue. Yet, rather than confronting this reality with discipline and reform, the Tinubu administration continues to plunge the country deeper into what can only be described as a looming debt catastrophe.

“Each new loan tightens the noose around the nation’s economic sovereignty, leaving future generations to pay for today’s lack of foresight.

“Even more disturbing is the timing of this request. As the nation inches closer to a major general election cycle, Nigerians are right to question the motives behind this borrowing spree.

“Is this truly about development, or is it another attempt to create avenues for political patronage and electoral advantage? History has taught us to be wary of last-minute, large-scale financial commitments made under the guise of national interest,” the statement read in part.

The ADC Legislators’ Forum insisted that the National Assembly must not act as a rubber stamp or a pro-group of President Tinubu in this matter.

It said the Senate, in particular, must rise to its constitutional responsibility by demanding full disclosure of the project’s financial details, procurement processes, cost-benefit analysis, and a credible repayment plan, as anything short of this would amount to a betrayal of public trust.

The lawmakers called on the administration to redirect its focus toward policies that can genuinely strengthen Nigeria’s economy; policies that promote productivity, industrial growth, job creation, and the plugging of revenue leakages.

“We must clearly state that governance is not a free ride without consequences. Those who make decisions today that endanger the economic future of millions of Nigerians must understand that a day of reckoning will inevitably come.

“The Nigerian people will demand answers, accountability, and justice for policies that have deepened hardship and mortgaged the nation’s destiny. Nigeria stands at a critical crossroads.

“We can either choose the path of responsibility, discipline, and sustainable growth, or continue down this perilous road of debt dependency and economic vulnerability,” the statement added.

By Modupe Gbadeyanka

A nationwide data verification exercise to review the factors and proxies used in the sharing of revenue among states and local governments has commenced.

The revenue allocation framework initiative is being conducted by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

The goal is to ensure that the distribution of national resources accurately reflects the current socio-economic realities across the federation, a statement signed by the organisation’s Head of Information and Public Relations Unit, Ms Maryam Umar Yusuf, stated.

In the statement issued on Thursday, the chairman of the commission, Mr Mohammed Bello Shehu, was said to have posited that the exercise would strengthen fiscal federalism and enhance national development planning across the country.

According to him, credible and verified data remains the foundation of a fair and sustainable revenue allocation system.

“The commission is committed to ensuring that Nigeria’s revenue allocation framework reflects the realities on the ground. Accurate data is the backbone of fairness, equity, and national cohesion.

“This nationwide exercise represents our determination to build a more transparent and responsive revenue distribution system that serves the interests of all Nigerians,” he noted.

Mr Shehu urged the state governments, local authorities, traditional institutions, civil society organisations, and community leaders to provide full cooperation to the agency’s verification teams, emphasising that the outcomes of the programme will have far-reaching implications for national planning, fiscal management, and balanced regional development across the federation.

As part of its nationwide rollout strategy, it has scheduled region-by-region data verification exercises across all states of the federation and the Federal Capital Territory (FCT), Abuja.

The exercise will involve systematic collection, validation, and reconciliation of critical socio-economic and infrastructural data used in determining revenue allocation indices for horizontal revenue sharing.

It was disclosed that the focus would be on key indicators like education and health provision, internal revenue generation capacity, and infrastructure development across the states and local government areas.

Stakeholder engagement sessions will also be conducted in each state to ensure transparency, build trust, and promote collaborative participation among government agencies and local communities.

Nigeria’s revenue allocation framework relies on specific indices, including those of population, landmass, infrastructure, and socio-economic development indicators, all of which must be periodically reviewed to reflect changing realities.

By Aduragbemi Omiyale

The Senator representing Abia North Senatorial District in the National Assembly, Mr Orji Uzor Kalu, has been congratulated by President Bola Tinubu on his 65th birthday.

In a statement released by the State House, the former Governor of Abia State was praised for his multifaceted roles and his service to the nation.

Mr Tinubu said his longtime friend and political ally has worked for the growth of Nigeria, having served as the Senate Chief Whip and currently the Chairman of the Senate Committee on the South East Development Commission (SEDC).

The SEDC is one of the regional development commissions established by the administration of President Tinubu to accelerate infrastructure, economic growth, and overall development across the South East geopolitical zone.

The President highlighted the lawmaker’s significant contributions during his tenure as Governor of Abia State from 1999 to 2007, as well as his continued dedication to the progress of the state and the nation at large.

He also acknowledged Mr Kalu’s accomplishments in the private sector, describing him as a media mogul and Chairman of SLOK Holding, who continues to play a vital role in Nigeria’s economic development.

“Senator Orji Uzor Kalu’s vision, resilience, industry and service to the nation and commitment to the progress of Abia are noteworthy,” President Tinubu remarked.

“I wish him long life, greater strength and increased wisdom as he continues his service to the nation,” the President concluded.