JUST IN: Reps Approve Tinubu’s $516m Highway Loan

The House of Representatives has approved President Bola Tinubu’s request for a $516 million foreign loan to fund major sections of the Sokoto–Badagry Super Highway project.

The approval was granted during plenary after lawmakers considered a report presented by the Committee on Aids, Loans and Debt Management.

The loan will be sourced through a syndicated financing arrangement and is expected to support the construction of key sections of the 1,000-kilometre highway linking northern and southern Nigeria.

The project is designed to improve national connectivity, reduce travel time, boost trade, and strengthen economic integration across multiple states.

According to the proposal earlier presented to the National Assembly, the financing is part of the Federal Government’s broader infrastructure development plan under the Renewed Hope agenda.

The loan approval now moves the project a step closer to implementation, with lawmakers stressing its importance to national development and transportation efficiency.