The House of Representatives on Tuesday approved President Bola Ahmed Tinubu’s request to secure a $516.33 million loan from Deutsche Bank to finance Section I of the Sokoto–Badagry Superhighway, a flagship infrastructure project under the administration’s Renewed Hope Agenda.
The approval followed consideration of the request by the Committee of Supply during plenary presided over by Speaker Tajudeen Abbas.
In a letter read on the floor of the Green Chamber, Tinubu described the Sokoto–Badagry Superhighway as a transformative national project designed to connect Nigeria’s far northwest to its southwestern coastline through an approximately 1,000-kilometre dual carriageway stretching from Illela in Sokoto State to Badagry in Lagos State.
The corridor, he said, is expected to pass through Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, opening up key agricultural, commercial, and industrial hubs across the country.
According to the President, the project is aimed at stimulating economic growth by improving the movement of goods and people across Nigeria.
He stated that the highway will “improve north-south connectivity, safety and network performance on the corridor; reduce logistics costs and travel times by providing a continuous high-capacity expressway standard link to downstream markets and strengthen trade facilitation, food security and national cohesion through improved access between production zones, markets and ports.”
President Tinubu explained that the financing arrangement includes a $516.33 million facility from Deutsche Bank, backed by partial guarantee cover from the insurance arm of the Islamic Development Bank.
He added that the Federal Government will provide counterpart funding of N265.54 billion to cover land acquisition, compensation payments, and complementary infrastructure.
The President also noted that the project design includes provisions for future expansion.
He said it would “safeguard long-term intermodal flexibility by reserving the central median for future rail integration and accommodating utility corridors.”
President Tinubu had urged lawmakers to expedite approval of the loan request, citing the project’s strategic importance to national development.
Presenting the report of the House Committee on Aids, Loans and Debt Management, Abdullahi El-Rasheed, who represented the committee chairman, Abubakar Nalaraba, called on lawmakers to support the request.
He said the highway would serve as a critical driver of development and enhance long-term economic productivity.
Following deliberations, the House approved the borrowing request, paving the way for the commencement of the project’s first section.
The Sokoto–Badagry Superhighway is widely regarded as one of Nigeria’s most expansive road infrastructure projects, intended to serve as an economic backbone linking the resource-rich northern corridor with major export gateways in the south.
Beyond easing transportation challenges, the project is expected to boost agricultural supply chains, enhance regional trade, improve access to seaports, and attract investments in manufacturing, logistics, and real estate along its route.
It also aligns with broader government efforts to modernise transport infrastructure and strengthen Nigeria’s competitiveness under the African Continental Free Trade Area framework.
