President Bola Ahmed Tinubu has requested approval from the National Assembly to secure a loan of 516,333,070 USD from Deutsche Bank for the construction of the Sokoto–Badagry highway, according to a letter read during Thursday’s plenary session.
The request was formally presented in a letter addressed to the National Assembly and read by Senate President, Godswill Akpabio, during the session. The President explained that the loan is intended to finance the ongoing Sokoto–Badagry road project, a major infrastructure initiative aimed at improving connectivity across key regions of the country.
According to the communication, the proposed funding will support the development of the highway, which is expected to enhance transportation, boost economic activities, and facilitate trade along the corridor linking the North-West to the South-West.
The Sokoto–Badagry road is considered a strategic national project due to its potential to connect multiple states and improve access to markets, thereby contributing to national development.
Lawmakers are expected to review the request in line with legislative procedures before granting approval. The consideration process will involve scrutiny of the loan terms and its projected impact on the country’s debt profile.
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The loan request marks another step in the federal government’s efforts to invest in large-scale infrastructure, with the National Assembly set to decide on its approval in the coming days.
