BREAKING: Tinubu Seeks Fresh $516m Loan for Sokoto–Badagry Super Highway

President Bola Ahmed Tinubu has formally approached the Senate for approval of a new external loan totaling $516,333,070 to support ongoing infrastructure development, with a major focus on the ambitious Sokoto–Badagry Super Highway project.

The request was conveyed in a letter addressed to Senate President Godswill Akpabio and read during plenary on Thursday.

According to the President, the facility is expected to be secured from Deutsche Bank and will complement the already approved borrowing framework for the construction of the 1,000-kilometre highway designed to link Sokoto in the North-West to Badagry in Lagos State.

Tinubu stressed the strategic significance of the project, noting that it would enhance economic connectivity, boost trade corridors, and strengthen national integration across regions.

Following the presentation, Akpabio referred the request to the Senate Committee on Local and Foreign Debts for further legislative scrutiny. The committee has been directed to review the proposal and submit its report within one week.

The proposed loan forms part of the Federal Government’s broader push to expand critical road infrastructure as a driver of economic growth and national development.