President Bola Ahmed Tinubu has formally written to the Senate seeking approval to secure a fresh $516,333,070 loan from Deutsche Bank to finance the Sokoto–Badagry 1,000km Super Highway project.
The request was contained in a letter addressed to the President of the Senate, Godswill Akpabio, and read on the floor during Thursday’s plenary.
In the correspondence, the President explained that the loan forms part of the already approved borrowing plan for the ambitious highway project, which is expected to boost connectivity and economic activities across multiple regions of the country.
Tinubu urged the Senate to grant expeditious consideration and approval for the facility to ensure the timely execution of the project.
Following the reading of the letter, Akpabio referred the request to the Senate Committee on Local and Foreign Debts for further legislative action, directing the panel to report back within one week.
