The House of Representatives has approved President Bola Tinubu’s request to secure a $516.3 million syndicated loan from Deutsche Bank AG to fund major infrastructure development, including sections of the proposed Sokoto–Badagry Super Highway.
The approval was granted during plenary in Abuja following the presentation of a report by the Deputy Chairman of the House Committee on Aids, Loans and Debt Management, Abdullahi Rasheed.
Lawmakers said the request met legislative requirements after review of the project’s scope and financing plan.
The loan facility will be used to finance critical segments of the 1,000-kilometre highway, which is one of the flagship infrastructure projects of the Tinubu administration.
The highway is designed to connect Nigeria’s North-West and South-West regions, running from Sokoto through Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos States, terminating in Badagry.
According to the federal government, the project is expected to significantly improve road connectivity across key economic corridors, ease transportation challenges, and enhance movement of goods and services between regions.
It is also projected to stimulate trade, boost economic integration, and support long-term national development goals.
President Tinubu had earlier requested legislative approval for the financing in a formal letter to the National Assembly, stating that the funds would be sourced from Deutsche Bank AG to execute Sections 1, 1A, and 1B of the highway project.
The government maintains that the infrastructure drive is central to its broader economic reform and growth agenda.
Lawmakers who supported the approval noted that improved infrastructure remains critical to addressing Nigeria’s logistics bottlenecks and unlocking regional economic potential.
The project is also expected to create jobs during construction and improve access to markets for agricultural and industrial producers along the corridor.
Further details on the project’s implementation timeline and disbursement structure are expected to be released as the Federal Government moves toward execution.
