BREAKING: Reps approve Tinubu’s $516m loan for Sokoto-Badagry highway

The House of Representatives has approved President Bola Tinubu’s request to secure a $516,333,007 foreign loan to support the construction of sections of the Sokoto-Badagry Superhighway.

The approval was granted during Tuesday’s plenary following the presentation of a report by the Deputy Chairman of the House Committee on Aids, Loans and Debt Management, Abdullahi Rasheed.

The proposed loan, to be sourced from Deutsche Bank, is expected to fund key segments of the Sokoto-Badagry road project, a major infrastructure initiative aimed at improving connectivity across the country.

The decision by the Green Chamber comes after the president formally sought legislative approval for the borrowing, in line with constitutional requirements.