Senate Approves $516.3m Loan for Sokoto–Badagry Super Highway Project

The Nigerian Senate has approved the request of President Bola Tinubu to secure a syndicated loan of five hundred and sixteen million, three hundred and thirty-three thousand and seven US dollars from Deutsche Bank AG for the construction of the Sokoto–Badagry Super Highway project.

The approval followed deliberation on the report of the Senate Committee on Local and Foreign Debts, presented by the committee’s Deputy Chairman, Senator Adamu Aliero, who represents Kebbi Central.
While presenting the report, Senator Adamu Aliero stated that the committee carefully examined the President’s request and concluded that the Sokoto–Badagry Super Highway would significantly enhance connectivity, boost both internal trade and international business activities along the corridor, and ultimately improve the nation’s economy.

During contributions to the debate, Senators Mohammed Monguno and Jibrin Barau supported the committee’s position, noting that the project would generate employment opportunities for many unemployed youths. They also commended President Tinubu for initiating the project.
The President of the Senate, Godswill Akpabio, remarked that the benefits of the Sokoto–Badagry Super Highway would have a lasting positive impact on the country’s economy for decades. He subsequently put the loan request to a voice vote, where it was approved.

Senate President Godswill Akpabio further commended members of the Senate Committee on Local and Foreign Debts for their thorough work and urged the Federal Ministry of Works to ensure the effective utilization of the loan for the intended purpose.