Request sent to National Assembly for fast-track approval as lawmakers begin scrutiny of loan terms and Nigeria’s rising debt profile

President Bola Ahmed Tinubu has approached the Nigerian Senate for approval of a $516.3 million external loan to finance the Sokoto–Badagry Super Highway, a flagship infrastructure project under his administration.

The request, contained in a letter addressed to Senate President Godswill Akpabio, was read during Thursday’s plenary session at the National Assembly.

Tinubu disclosed that the proposed facility would be sourced from Deutsche Bank and is part of an already approved borrowing plan tied to the construction of the cross-country highway. The project is designed to significantly improve connectivity between Nigeria’s northern and southern regions while boosting trade and economic integration.

The President urged lawmakers to expedite consideration of the request to avoid delays in the implementation of the project, which forms a key component of the federal government’s infrastructure expansion agenda.

Following the presentation, Akpabio referred the request to the Senate Committee on Local and Foreign Debts for detailed review, directing the panel to report back within one week.

The committee is expected to examine the loan’s terms, repayment structure, and compliance with Nigeria’s debt management strategy before the Senate takes a final decision.

The Sokoto–Badagry Super Highway is one of the administration’s most ambitious road projects, aimed at enhancing the movement of goods and people across the country. However, the loan request comes amid growing public debate over Nigeria’s debt burden and the government’s reliance on external financing to fund major capital projects.