President Bola Ahmed Tinubu has formally requested approval from the National Assembly to secure a loan of $516,333,070 to finance the Sokoto–Badagry highway project.
The request was conveyed in a letter addressed to lawmakers and read during Thursday’s plenary by Senate President Godswill Akpabio.
According to the letter, the proposed loan will be sourced from Deutsche Bank and is intended to support the construction of the strategic highway linking Sokoto in the northwest to Badagry in the southwest.
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The Sokoto–Badagry road project is considered a key infrastructure initiative aimed at boosting inter-regional connectivity, trade, and economic development across multiple states.
Lawmakers are expected to deliberate on the request in the coming days as part of the approval process for external borrowing.
