President Bola Tinubu has formally requested Senate approval for a $516,333,070 loan from Deutsche Bank to fund the construction of the 1,000-kilometre Sokoto-Badagry Super Highway, a flagship project under his Renewed Hope infrastructure agenda.
President Bola Tinubu
In a letter addressed to Senate President Godswill Akpabio and read during Thursday’s plenary, the president emphasised the highway’s role in boosting connectivity between Nigeria’s northern and southern regions, transforming rural economies, and facilitating regional trade.
The financing targets Sections 1, Phase 1A, and 1B of the project, linking Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states from Illela to Badagry.
Tinubu urged expeditious passage to keep the initiative on track, noting alignment with the Debt Management Office Act and backing via partial risk guarantee from the Islamic Corporation for Insurance of Investment and Export Credit, plus over ₦265 billion in federal counterpart funding for land and compensation.
Senate President Akpabio referred the request to the Committee on Local and Foreign Debts, mandating a one-week turnaround report.
Engineering groups and stakeholders have hailed the superhighway’s potential to cut travel times and enhance goods movement across economic corridors.
