President Bola Tinubu has formally requested the approval of the National Assembly for a fresh $516.3 million external loan to support infrastructure development, particularly the ongoing Sokoto–Badagry Super Highway project.
The request was contained in a letter addressed to the President of the Senate, Senator Godswill Akpabio, and read during Thursday’s plenary session.
According to the letter, the proposed facility will be sourced from Deutsche Bank and is intended to finance part of the already approved borrowing plan for the Sokoto–Badagry 1,000-kilometre Super Highway project, a major infrastructure corridor aimed at improving connectivity across northern and southwestern Nigeria.
President Tinubu urged the Senate to give the request expedited consideration, stressing the importance of timely funding for the project’s implementation.
Following the reading of the letter, Senate President Godswill Akpabio referred the request to the Committee on Local and Foreign Debts for further legislative scrutiny. The committee has been mandated to review the proposal and submit its report within one week.
The proposed highway project is part of the administration’s broader infrastructure drive aimed at boosting economic activity, improving regional integration, and enhancing transport efficiency across key corridors in the country.
Elijah Adeyemi
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