Tinubu Seeks Senate Approval for $516 Million Loan to Fund Sokoto–Badagry Super Highway

President Bola Tinubu has formally requested the Senate’s approval for a fresh external loan of $516,333,070 to fund a major infrastructure project.

The request was contained in a letter addressed to Senate President Godswill Akpabio and read during Thursday’s plenary session.

According to the President, the loan will be obtained from Deutsche Bank and will be used to finance the construction of the Sokoto–Badagry Super Highway, a 1,000-kilometre road project.

The highway is part of the administration’s major infrastructure plan aimed at improving transportation and economic connectivity between northern and southern Nigeria.

President Tinubu urged lawmakers to give the request urgent consideration to ensure the project is not delayed.

After the letter was read, Senate President Akpabio referred the request to the Committee on Local and Foreign Debts for further review, directing the committee to report back within one week.

The proposed highway has already attracted attention from stakeholders and engineering groups, who believe it could boost rural development and improve trade across regions if completed.