$20 Billion Loan Controversy: Otunba Babatunde Olushola Senbanjo Challenges Tinubu Over Lagos-Calabar Highway Rerouting

By Otunba Babatunde Olushola Senbanjo (BOS)

NIGERIANS DESERVE ANSWERS, TRANSPARENCY AND ACCOUNTABILITY!

A STRONG CALL FOR RESPONSIBLE LEADERSHIP AND THE PROTECTION OF NATIONAL RESOURCES

Nigeria is passing through a critical period in its national development, and the decisions taken by those entrusted with public office deserve the closest attention of every patriotic citizen. At a time when millions of Nigerians are struggling with economic hardship, unemployment, insecurity, rising food prices, transportation costs and declining purchasing power, the management of public resources must be guided by transparency, prudence and an unwavering commitment to the national interest.

It is against this background that the reported $20 billion loan controversy and the questions surrounding the rerouting of the Lagos–Calabar Coastal Highway demand serious public attention.

Former Vice President Atiku Abubakar has challenged President Bola Ahmed Tinubu to provide explanations regarding the reported borrowing proposal and the changes to the highway’s route. I, Otunba Dr Babatunde Olushola Senbanjo (BOS), also challenge President Tinubu’s administration to address these concerns openly and provide Nigerians with clear, verifiable answers.

This is not a call against infrastructure development. It is not an attempt to obstruct national progress. Rather, it is a call for responsible governance, proper financial management and accountability in the execution of projects involving public resources.

Nigeria needs development, but development must be accompanied by transparency. We need modern infrastructure, but the financing and execution of that infrastructure must be properly explained. We need a government that can make ambitious plans while remaining accountable to the people whose interests it has been elected to protect.

NO GOVERNMENT SHOULD CONSIDER ITSELF ABOVE LEGITIMATE PUBLIC SCRUTINY.

THE REPORTED $20 BILLION LOAN: PRESIDENT TINUBU MUST CLARIFY THE FACTS

The reported possibility of a $20 billion borrowing arrangement has generated important questions about the financial commitments being considered by the Federal Government.

The first responsibility of the government is to clarify whether a formal loan proposal of this amount exists, whether it has been submitted for consideration and whether any approval has been granted.

Nigerians deserve a clear distinction between a reported borrowiand an actual financial commitment. No responsible discussion should treat an unverified allegation as a fact.

Nevertheless, when reports raise questions about a potentially significant public borrowing arrangement, the government must recognise the importance of providing accurate information.

If the reported loan proposal exists, what is its purpose? Who is the proposed lender? What interest rate would apply? What would be the repayment period? What conditions would accompany the facility? Which projects or contractual obligations would the money finance?

Furthermore, is the proposed borrowing directly connected to the Lagos–Calabar Coastal Highway, or does it relate to other government expenditure?

These questions deserve answers supported by official documents.

Mr President, the Nigerian people cannot be expected to understand the implications of a major financial commitment without being given reliable information about its purpose, cost and repayment arrangements.

Public borrowing must be approached with discipline and a clear understanding of the country’s financial capacity.

A loan can support economic growth when it finances productive infrastructure and is managed effectively. However, borrowing without sufficient transparency and credible repayment planning can place additional pressure on public finances and reduce the resources available for other national priorities.

NIGERIANS HAVE THE RIGHT TO KNOW WHETHER ANY PROPOSED LOAN IS NECESSARY, HOW IT WILL BENEFIT THE COUNTRY AND HOW THE GOVERNMENT INTENDS TO REPAY IT.

That is not an unreasonable demand. It is a fundamental principle of responsible governance.

LAGOS–CALABAR COASTAL HIGHWAY: WHY THE REROUTING REQUIRES TRANSPARENCY

The Lagos–Calabar Coastal Highway is a major infrastructure project with the potential to improve connectivity, facilitate transportation and support economic activities along Nigeria’s coastline.

Nigeria undoubtedly needs good roads and modern transportation infrastructure. A properly planned highway can improve access to markets, support logistics, encourage investment and create employment opportunities.

However, the importance of a project does not remove the need for transparency in its planning, financing and execution.

Reports concerning the rerouting of sections of the highway have raised questions about the original alignment, the revised route, the engineering considerations behind the changes and the possible financial implications.

The Federal Government has cited engineering considerations, including flooding and climate-related risks, in explaining the route adjustment.

If these factors justified the decision, the government should provide the relevant technical assessments and explain how the revised alignment addresses the identified challenges.

What did the original feasibility studies establish?

What engineering and environmental assessments informed the initial route?

What new findings justified the changes?

What alternatives were examined before the revised route was approved?

What are the implications for the project’s cost, scope, construction schedule and contractual obligations?

These are legitimate questions that deserve clear, evidence-based answers.

A route change does not automatically establish wrongdoing. Major infrastructure projects can require adjustments for technical, environmental or other legitimate reasons.

However, when changes affect a public contract, the government must demonstrate that the decision was properly evaluated, appropriately documented and financially responsible.

IF THE REROUTING IS JUSTIFIED, LET THE GOVERNMENT PRESENT THE EVIDENCE. IF THE CONTRACT HAS CHANGED, LET THE FINANCIAL IMPLICATIONS BE DISCLOSED.

Transparency will help Nigerians understand the decision and determine whether the project continues to serve the public interest.

*MY CHALLENGE TO PRESIDENT TINUBU: PUBLIC RESOURCES MUST BE ACCOUNTED FOR*

President Bola Ahmed Tinubu’s administration has a responsibility to ensure that major public projects are managed transparently and that financial commitments are properly justified.

I therefore challenge the President to ensure that the relevant ministries and agencies provide clear explanations regarding the reported $20 billion loan and the Lagos–Calabar Coastal Highway rerouting.

The administration should clarify the status of the reported borrowing proposal and disclose the relevant financial terms if such a proposal exists.

It should explain the technical reasons for the route adjustment and make the appropriate feasibility assessments and contract variations available for scrutiny, subject to legitimate legal restrictions.

It should also explain whether the changes have affected the total contract value, the schedule of payments or the scope of work.

These are basic questions concerning the management of public resources.

Mr President, leadership is not simply about announcing major projects, presenting ambitious development plans or making financial commitments., Leadership also requires openness, financial discipline and the willingness to answer difficult questions.

The Nigerian people deserve to understand the decisions being made in their name.

Public confidence cannot be sustained by assurances alone. It must be supported by credible information, responsible conduct and transparent institutions.

ACCOUNTABILITY IS NOT AN ACT OF HOSTILITY AGAINST GOVERNMENT. IT IS ONE OF THE FOUNDATIONS OF DEMOCRATIC LEADERSHIP.

NIGERIANS ARE STRUGGLING: EVERY MAJOR FINANCIAL DECISION MATTERS

Across Nigeria, ordinary citizens continue to face serious economic challenges.

Parents are struggling to meet household expenses. Young people are searching for jobs. Farmers are dealing with high production costs. Small businesses are battling rising operating expenses, while manufacturers need a stable economic environment in which to invest and create employment.

In these circumstances, every major government expenditure deserves scrutiny.

Nigerians want to know how public investments will improve their lives and whether the benefits will justify the financial obligations being created.

Will the highway create sustainable employment?

Will it improve transportation and reduce t,he cost of moving goods?

Will it open new markets for farmers and traders?

Will it support tourism, logistics and industrial development?

Will the expected economic benefits justify the total cost of construction and financing?

These questions should be central to the evaluation of every major infrastructure project.

The government must demonstrate that the project is not merely an ambitious construction programme but a carefully planned investment capable of delivering measurable benefits.

A country cannot measure development solely by the size of its projects or the amount of money committed to them.

The real measure is whether those projects improve people’s lives, strengthen the economy and deliver value for public expenditure.

THE PEOPLE DESERVE DEVELOPMENT THAT IMPROVES THEIR LIVING CONDITIONS,, NOT FINANCIAL COMMITMENTS THAT REMAIN UNEXPLAINED.

PUBLIC DEBT MUST NOT BECOME AN UNNECESSARY BURDEN ON FUTURE GENERATIONS

Nigeria must approach public borrowing with a strong sense of responsibility.

Every loan creates financial obligations that may affect future government budgets and the resources available for education, healthcare, security, agriculture and other essential services.

When borrowing is properly planned and directed towards productive investment, it can contribute to national development.

However, when financial commitments are made without sufficient transparency, careful evaluation or credible repayment arrangements, the consequences may extend far beyond the administration that incurred them.

Our children and grandchildren deserve a country where national resources are managed wisely and financial decisions are taken with their future in mind.

This is why the reported $20 billion loan controversy deserves clear clarification.

If such borrowing is being considered, the government should explain its purpose, the proposed terms, the repayment strategy and the expected economic returns.

It should also demonstrate how the borrowing fits into Nigeria’s overall debt-management framework.

Can the country meet the repayment obligations sustainably?

Will the proposed financing generate sufficient economic value?

What safeguards will ensure that the money is used for its intended purpose?

Have alternative financing arrangements been properly evaluated?

These questions must be addressed before any significant financial commitment is undertaken.

We cannot afford to ignore the long-term consequences of public borrowing simply because the money is intended for infrastructure.

OUR RESPONSIBILITY IS NOT ONLY TO BUILD FOR TODAY, BUT ALSO TO PROTECT THE ECONOMIC FUTURE OF GENERATIONS YET UNBORN.

THE NATIONAL ASSEMBLY MUST EXERCISE ITS OVERSIGHT RESPONSIBILITIES

The National Assembly has an important role in scrutinising government borrowing proposals and ensuring that public expenditure is properly monitored.

Lawmakers must examine any proposed borrowing arrangement carefully, paying particular attention to its purpose, financing terms, repayment conditions and expected benefits.

They should demand relevant documentation and ensure that the government can demonstrate the financial viability of the proposed investment.

They must also examine the implications of any changes to major infrastructure contracts and ensure that appropriate safeguards exist to prevent waste and unjustified cost increases.

Where allegations of pressure on lawmakers arise, those claims should be verified and addressed through proper institutional procedures.

The responsibility of the National Assembly is not simply to endorse proposals presented by the executive arm of government. It is also to scrutinise decisions and protect the interests of the Nigerian people.

Political affiliation should never replace constitutional responsibility.

Our lawmakers must remember that the resources under consideration belong to the country and carry obligations to millions of citizens.

Nigeria needs strong institutions that can scrutinise public decisions independently and help ensure that national resources are used responsibly.

ATIKU’S CHALLENGE AND THE NEED FOR A FACT-BASED RESPONSE

Former Vice President Atiku Abubakar has raised questions about the reported borrowing proposal and the rerouting of the Lagos–Calabar Coastal Highway.

The Federal Government should respond to these questions with facts, official records and clear explanations.

The issue should not be reduced to a contest of personalities or political parties.

Equally, allegations must not be presented as established facts without credible supporting evidence.

The objective must be to establish the truth and protect the public interest.

If the reported loan proposal exists, let the government clarify its details.

If the highway rerouting has changed the financial terms of the contract, let the implications be explained.

If the revised route was necessary for engineering or environmental reasons, let the supporting assessments be presented.

If credible evidence of irregularities emerges, let the appropriate institutions investigate and take action in accordance with the law.

This is the proper way to address concerns about public expenditure in a democracy.

Political opposition has an important role in scrutinising government policies, while the government has a responsibility to provide information that enables citizens to assess its decisions.

THE CENTRAL QUESTION IS NOT WHICH POLITICIAN WILL WIN THE ARGUMENT. THE CENTRAL QUESTION IS WHETHER NIGERIA’S PUBLIC RESOURCES ARE BEING MANAGED TRANSPARENTLY AND RESPONSIBLY.

Our country must rise above partisan distractions and focus on the issues that matter most to ordinary Nigerians.

INFRASTRUCTURE DEVELOPMENT MUST GO HAND IN HAND WITH ACCOUNTABILITY

Let nobody misunderstand my position.

I support infrastructure development that improves connectivity, creates employment, encourages investment and strengthens the national economy.

Nigeria needs modern highways, reliable electricity, functional railways, quality schools, accessible healthcare and an economic environment that supports agriculture, manufacturing and entrepreneurship.

However, we cannot separate development from accountability.

We need properly designed roads, transparent procurement, responsible financing and effective monitoring of expenditure.

We need projects that are completed to the required standards, maintained properly and capable of delivering lasting benefits.

We need public institutions that can identify weaknesses, prevent waste and ensure that contractual obligations are fulfilled.

We also need citizens to have access to reliable information about how major infrastructure projects are financed and implemented.

The Lagos–Calabar Coastal Highway should be assessed on its technical quality, financial sustainability, environmental impact and contribution to economic development.

The relevant authorities should provide appropriate information about its financing, progress, contract variations and expected benefits.

Transparency should not be treated as an obstacle to development. It is an essential part of ensuring that development is sustainable and serves the public interest.

MY MESSAGE TO PRESIDENT BOLA AHMED TINUBU

Mr President, Nigeria is bigger than any individual, political party or administration.

The responsibility of governing this country requires transparency, financial discipline and respect for the people’s right to know how their resources are being managed.

I therefore challenge your administration to provide clear answers to the questions surrounding the reported $20 billion loan and the rerouting of the Lagos–Calabar Coastal Highway.

Clarify whether the reported loan proposal exists, what it is intended to finance and how any proposed borrowing would affect Nigeria’s financial obligations.

Explain the engineering considerations behind the route adjustment and disclose the relevant implications for the project’s scope, cost and contractual terms.

Ensure that the National Assembly and other appropriate oversight institutions can carry out their responsibilities effectively.

Make relevant documents available for scrutiny, subject to legitimate legal restrictions, and ensure that public communication about the project is accurate and transparent.

Mr President, Nigerians deserve more than political assurances. They deserve evidence that public decisions are properly justified and that public resources are being managed responsibly.

If the government has made sound decisions, transparency will help demonstrate that. If weaknesses are identified, they should be addressed through the appropriate legal and administrative processes.

THE PEOPLE ARE NOT ASKING FOR FAVOURS. THEY ARE ASKING FOR ACCOUNTABILITY.

MY MESSAGE TO THE NIGERIAN PEOPLE

Fellow Nigerians, we must remain committed to the principles of responsible governance regardless of which political party occupies public office.

We should support genuine development while demanding transparency in the management of public resources.

We should ask questions when necessary, examine information critically and insist that public officials provide credible explanations for major decisions.

At the same time, we must distinguish verified facts from allegations and avoid spreading claims that have not been established.

Our loyalty to Nigeria must be greater than our loyalty to any politician.

The national interest must come before partisan interests.

We must build a political culture in which citizens are informed, public institutions are accountable and leaders understand that public office is a responsibility to serve the people.

Nigeria deserves a future in which development is accompanied by integrity, financial discipline and respect for democratic accountability.

CONCLUSION: NIGERIA DESERVES ANSWERS, TRANSPARENCY AND RESPONSIBLE LEADERSHIP

The reported $20 billion loan controversy and the questions surrounding the Lagos–Calabar Coastal Highway rerouting must receive appropriate clarification from the Federal Government.

President Tinubu’s administration should establish the status of the reported loan proposal, provide relevant financial information if it exists and explain the technical reasons behind the route adjustment.

The National Assembly should scrutinise any proposed borrowing within its constitutional responsibilities, while the relevant institutions should examine the technical and financial records where necessary.

Atiku Abubakar’s challenge should be addressed through evidence, official documentation and responsible public engagement.

Ultimately, this matter is about protecting the interests of the Nigerian people.

It is about ensuring that borrowing decisions are financially responsible, infrastructure projects deliver value and national resources are managed with integrity.

It is about building a country where public officials understand that leadership comes with an obligation to explain decisions and account for the management of public resources.

As a nation, we deserve modern infrastructure, but we also deserve transparency.

We deserve economic development, but we also deserve responsible financial management.

We deserve ambitious national projects, but we also deserve evidence that those projects are being implemented in the public interest.

MY POSITION IS CLEAR: PRESIDENT TINUBU’S ADMINISTRATION MUST PROVIDE THE FACTS, THE RELEVANT INSTITUTIONS MUST EXAMINE THE DOCUMENTS, AND THE INTERESTS OF NIGERIANS MUST COME FIRST.

Let us work towards a country where accountability is the standard, transparency is the practice and responsible leadership is the expectation.

Nigeria belongs to all of us. Its resources must be protected, its institutions must be strengthened, and its future must be managed with wisdom and responsibility.

NIGERIA FIRST. THE PEOPLE FIRST. ACCOUNTABILITY ALWAYS.

God bless the Federal Republic of Nigeria.

God bless the Nigerian people.