The House of Representatives has approved President Bola Ahmed Tinubu’s request to borrow $516.3 million to support the construction of parts of the Sokoto-Badagry Superhighway.
The approval was given during Tuesday’s plenary after the Deputy Chairman of the House Committee on Aids, Loans and Debt Management, Abdullahi Rasheed, presented the committee’s report.
According to the report, the foreign loan will help fund important sections of the major road project expected to improve transportation and economic activities across the country.
Earlier, President Tinubu had asked the National Assembly to approve the fresh loan from Deutsche Bank for the project.
The Sokoto-Badagry Superhighway is seen as a major infrastructure project aimed at boosting trade, movement, and national development.
The approval has now cleared the way for the government to move forward with the funding process.
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