President Bola Tinubu has moved to secure a fresh $516,333,070 loan, formally writing to the Senate and urging swift approval.
The request, contained in a letter addressed to Senate President Godswill Akpabio and read during Thursday’s plenary, outlines plans to obtain the loan from Deutsche Bank.
According to the president, the facility is intended to finance the already approved borrowing plan for the ambitious Sokoto–Badagry 1,000km Super Highway project.
Tinubu, in the correspondence, pressed for quick legislative action, seeking an expedited passage of the request.
Following the reading, Akpabio referred the proposal to the Senate Committee on Local and Foreign Debts, directing it to review and report back within one week.
