Reps Approve Tinubu’s $516m Loan for Sokoto–Badagry Super Highway Project

ABUJA, NIGERIA – The House of Representatives has approved President Bola Tinubu’s request to secure a syndicated loan of $516.3 million (about ₦702.2 billion) from Deutsche Bank AG for a major national road project.

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

The funds are designated for the construction of key segments of the Sokoto–Badagry Super Highway, specifically Sections 1, Phase 1A, and Phase 1B.

According to Okay News, the financing arrangement was carried out in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, which requires National Assembly approval for external borrowing.

The Sokoto–Badagry Super Highway is a flagship infrastructure project under the Renewed Hope Agenda, designed to improve connectivity across the country. Once completed, it is expected to reduce travel time between the North-West and South-West regions while strengthening trade routes and boosting economic activity.

The approval comes just days after President Tinubu formally requested legislative backing from both chambers of the National Assembly.

While the project has been widely promoted as a key driver of long-term development, it also adds to ongoing public debate about Nigeria’s rising external debt and the sustainability of large-scale foreign borrowing for infrastructure financing.