By Ghazali Ibrahim
President Bola Ahmed Tinubu has formally requested the approval of the Senate for a fresh external loan of $516.3 million to finance key sections of the proposed Sokoto–Badagry Super Highway.
The request, conveyed in a letter to the upper legislative chamber on Thursday, is aimed at securing funds for the execution of parts of the ambitious infrastructure project, a flagship initiative under the administration’s development agenda.
According to details of the proposal, the loan expected to be sourced through a financing arrangement led by international lenders will be used to fund specific segments of the highway, covering portions of its initial construction phase.
The Sokoto–Badagry Super Highway is a major 1,000-kilometre road project designed to link several states across the country, including Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun and Lagos, thereby boosting connectivity and facilitating the movement of goods and services across key economic corridors.
The Presidency has described the project as critical to improving transportation efficiency, reducing travel time, and driving economic growth by opening up underserved regions.
The loan request also underscores the federal government’s continued reliance on external borrowing to fund large-scale infrastructure, amid revenue constraints and competing fiscal demands.
The Senate is expected to deliberate on the request in the coming days, with approval required before the funds can be accessed and deployed for the project.
