President Bola Tinubu has asked the Senate to approve a fresh $516,333,070 loan to finance the already approved borrowing plan for the Sokoto-Badagry 1,000km Super Highway.
The request was contained in a letter addressed to Senate President Godswill Akpabio and read on the floor of the Senate during Thursday’s plenary. The proposed facility is to be obtained from Deutsche Bank.
In the letter, the President also asked the upper chamber to expedite legislative approval for the loan request.
Following the reading of the letter, Akpabio referred the matter to the Senate Committee on Local and Foreign Debts for further legislative action, with a directive to report back within one week.
