The approval was given on Tuesday during plenary in Abuja following the presentation of a report by Abdullahi Rasheed.
The House of Representatives has approved President Bola Tinubu’s request to secure a $516,333,007 syndicated loan from Deutsche Bank AG for major infrastructure development.
The approval was given on Tuesday during plenary in Abuja following the presentation of a report by Abdullahi Rasheed.
The facility is intended to fund sections of the proposed Sokoto–Badagry Super Highway, one of the key infrastructure projects of the Tinubu administration aimed at improving national connectivity.
In his request to the National Assembly, President Bola Tinubu said the loan would cover Sections 1, 1A and 1B of the project.
He explained that the syndicated financing facility from Deutsche Bank AG would be used for the execution of those sections of the highway project.
The planned 1,000-kilometre road is expected to link the North-West and South-West regions, stretching from Illela in Sokoto State to Badagry in Lagos State.
The route will pass through several states including Kebbi, Niger, Kwara, Oyo and Ogun
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