Nigeria’s House of Representatives has approved President Bola Tinubu’s request to secure a $516,333,007 syndicated loan from Deutsche Bank AG to fund key infrastructure projects.
The approval was granted on Tuesday during plenary in Abuja after the presentation of a report by the Deputy Chairman of the House Committee on Aids, Loans and Debt Management, Abdullahi Rasheed.
The loan will be used to finance sections of the proposed Sokoto–Badagry Super Highway, a major infrastructure initiative under the Tinubu administration aimed at improving national connectivity and economic integration.
In his earlier communication to the National Assembly, President Tinubu stated that the facility would specifically fund Sections 1, 1A, and 1B of the project.
The planned 1,000-kilometre highway will connect key regions across the country, linking the North-West to the South-West through states including Sokoto State, Kebbi State, Niger State, Kwara State, Oyo State, Ogun State, and Lagos State—stretching from Illela to Badagry.
The federal government says the project is expected to boost trade, improve transportation efficiency, and strengthen economic ties across the affected regions.
Further details are expected.
