House Approves $516M Loan for Sokoto-Badagry Highway

On Tuesday, during a plenary session in Abuja, the House of Representatives approved a $516 million external loan request from President Bola Tinubu to fund the Sokoto–Badagry superhighway project. The approval followed a report presented by the Deputy Chairman of the House Committee on Aid, Loan, and Debt Management, Abdullahi Rasheed.

The loan, amounting to $516,333,007, is to be financed by Deutsche Bank AG and is intended to cover the first phase of the highway project, which spans approximately 120 kilometers. The broader project will extend over 1,000 kilometers, linking Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, and aims to improve movement across major economic corridors.

The federal government is also expected to provide N265 billion as counterpart funding for land acquisition and related infrastructure costs. Concerns regarding fiscal sustainability were raised by former Vice President Atiku Abubakar and others, highlighting the government's existing debt obligations.