Senate Approves $516m Loan Request for Badagry-Sokoto Super Highway

The Senate has approved President Bola Tinubu’s $516 million loan request from Deutsche Bank AG for the construction of the Sokoto–Badagry Superhighway.

The Senate, during a Wednesday plenary presided over by President Godswill Akpabio, approved the financing facility from the German bank.

The House of Representatives had on Tuesday approved a $516,333,007 syndicated financing facility from Deutsche Bank AG for the construction of the Sokoto–Badagry Superhighway.

TVC News reported that the request followed a letter earlier transmitted by President Bola Tinubu and read on the floor by the Speaker, Abbas Tajudeen.

The proposed 1,000-kilometre high-capacity highway will connect Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, stretching from Illela in Sokoto state to Badagry.