BREAKING: Bola Ahmed Tinubu requests Senate approval for a new $516.3 million loan
In order to finance a road project, President Bola Tinubu has asked the Senate to approve a new $516.3 million loan from Deutsche Bank. The request was made in a letter to Senate President Godswill Akpabio, which was read aloud in plenary on Thursday.
The letter states that the proposed loan will be utilised to finance Sections 1, Phases 1a and 1b of the Sokoto–Badagry Superhighway, a crucial transportation route that is anticipated to span around 1,000 kilometres overall, with the current phase spanning 120 kilometres.
Tinubu encouraged the Senate to examine the request as soon as possible.
Akpabio sent the letter to the Senate Committee on Local and Foreign Debts for additional legislative action after reviewing it.
The committee was instructed to submit a report within a week.
