Bola Tinubu has formally approached the Senate for approval of a new $516,333,070 loan.
The request was detailed in a letter sent to Senate President Godswill Akpabio and presented during Thursday’s plenary session.
According to the President, the proposed loan will be sourced from Deutsche Bank and is intended to fund the construction of the Sokoto-Badagry 1,000-kilometre Super Highway.
The project forms part of the administration’s broader infrastructure plans, aimed at improving connectivity between northern and southern Nigeria.
In the letter, Tinubu appealed to lawmakers to fast-track approval so the project can proceed without delays.
After the request was read, Akpabio directed it to the Senate Committee on Local and Foreign Debts for further review, with instructions to report back within one week.
The proposed highway has attracted growing interest, with stakeholders and engineering groups expressing optimism about its potential to boost rural development and enhance trade across regions.