It’s better to borrow for infrastructure — Akpabio backs Tinubu’s $516M loan plan

Senate President Godswill Akpabio, along with another senator, has expressed support for President Bola Ahmed Tinubu’s initiative to acquire new loans for infrastructure, considering it essential given the current economic hardships.

During discussions, Akpabio emphasized that borrowing for projects is preferable during these challenging times, stating, “In these tough times, when we are low on funds, borrowing for infrastructure is wise—we will ultimately have tangible results.” He suggested that project repayments could be linked to the economic benefits generated.

In a related statement, another senator called on the committee overseeing local and foreign debts to expedite its assessment and hasten approval of the plan, highlighting the urgent need for infrastructure improvement across the nation.

PAY ATTENTION: Follow The Lagos Voice on WhatsApp channel for latest updates

The senator also commended the long-awaited Sokoto–Lagos highway project, which has been in the planning stages for over 55 years but is finally progressing. “I’ve seen the work and I’m genuinely impressed,” he remarked.

He pointed out that the highway is being built with concrete instead of asphalt and includes solar-powered streetlights. Over 45 kilometers of the road are complete, with more than 250 kilometers traversing Kebbi State and extending through Niger, Kwara, Oyo, Ogun, and Lagos States, starting from Ilela in Sokoto State.

He noted the significant reduction in travel time the highway would provide, stating, “You can travel from Sokoto to Lagos in under six hours instead of nearly 13 hours.”

Both lawmakers called for prompt legislative approval following the committee’s report, describing the project as a transformative advancement for many regions across the country.