The House of Representatives has approved a request by President Bola Ahmed Tinubu to secure a $516.3 million syndicated loan from Deutsche Bank AG to support infrastructure development.
The approval was granted during plenary in Abuja following the presentation of a report by Abdullahi Rasheed.
The facility is designated to fund portions of the proposed Sokoto–Badagry Superhighway, a major infrastructure initiative of the current administration aimed at enhancing connectivity across multiple regions of the country.
In his communication to the National Assembly, Tinubu explained that the loan would cover Sections 1, 1A and 1B of the project.
The planned highway, stretching approximately 1,000 kilometres, is expected to connect key states including Sokoto State, Kebbi State, Niger State, Kwara State, Oyo State, Ogun State and Lagos State, linking Illela in the North-West to Badagry in the South-West.
The project is positioned as a strategic transport corridor expected to improve trade, mobility and regional integration across Nigeria.
