President Bola Tinubu has asked the Senate to approve a $516.3 million external loan to fund parts of the Sokoto–Badagry Super Highway project.
The request, read during plenary by Senate President Godswill Akpabio, seeks financing from Deutsche Bank for Sections 1, 1A and 1B of the 1,000km road.
Tinubu said the project will link Sokoto to Lagos through several states, improving connectivity, reducing travel time, and boosting trade and food security.
He noted the loan will run for nine years with a three-year grace period, while the Federal Government will provide N265.5bn as counterpart funding.
Lawmakers described the highway as economically significant, with projections that travel time between Sokoto and Lagos could drop from 13 hours to six hours.
Akpabio referred the request to the Senate Committee on Local and Foreign Debts for review, with a report expected within one week.
