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Tinubu Requests Fast-Track Senate Approval for $516m Deutsche Bank Loan
Tinubu has written to the Senate seeking approval for a $516.3m loan, urging swift action to support the Sokoto-Badagry highway project.
President Bola Tinubu has approached the Senate for approval to obtain a $516.3 million loan from Deutsche Bank, aimed at supporting the Sokoto-Badagry Super Highway project.
In a letter read during Thursday’s plenary by Senate President Godswill Akpabio, the president said the facility forms part of an already approved borrowing framework tied to the infrastructure project.
He also appealed for swift legislative approval, signalling urgency in advancing the project.
The Senate President subsequently referred the request to the Committee on Local and Foreign Debts, mandating it to review the proposal and submit its report within one week.
The proposed loan is expected to contribute to the financing of the ambitious 1,000-kilometre highway project connecting Sokoto to Badagry.
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