Senate Approves $516.3m Loan Request for Sokoto–Badagry Superhighway

Abuja, Nigeria, Wednesday, April 29, 2026

The Senate has approved President Bola Ahmed Tinubu’s request for a $516.3 million loan to support the execution of the Sokoto–Badagry Superhighway project.

Lawmakers clarified that the loan, sourced from Deutsche Bank AG, is intended to serve as a financial lifeline to prevent delays in the implementation of the project, following challenges in accessing an earlier funding package from a Middle Eastern bank due to ongoing geopolitical tensions.

The Senate expressed optimism that the 1,000-kilometre highway will significantly reduce travel time between northern and southern Nigeria, while boosting economic activities along the corridor.

The project is expected to span multiple states, stretching from Illela in Sokoto State through Kebbi, Niger, Kwara, Oyo, and Ogun States, and terminating in Badagry, Lagos.

In a related development, the Senate also confirmed several presidential nominees, including Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria.

Meanwhile, President Tinubu has communicated to the Senate his decision to decline assent to the National Identity Management Commission (NIMC) bill, citing structural defects among other concerns.