President Bola Tinubu has written to the Senate requesting approval to secure a fresh $516,333,070 loan.
In a letter addressed to Senate President Godswill Akpabio and read during Thursday’s plenary, the proposed loan is to be sourced from Deutsche Bank.
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The funds are intended to support the already approved borrowing plan for the Sokoto–Badagry 1,000km Super Highway project.
The President urged lawmakers to fast-track consideration and approval of the request.
Following the reading, Akpabio referred the proposal to the Senate Committee on Local and Foreign Debts for further legislative review, with a directive to report back within one week.
