Nigeria’s President Bola Tinubu has asked parliament to approve a $516 million external loan to finance the early phases of a major highway project linking the country’s northwest to the southwest. The request, submitted in April 2026 and read during a Senate plenary session, forms part of the government’s broader infrastructure financing plan, as reported by Reuters.
The proposed loan, to be arranged through Deutsche Bank, will fund Sections 1, 1A, and 1B of the Sokoto–Badagry Superhighway, a roughly 1,000-kilometre corridor connecting multiple states including Sokoto, Niger, Kwara, and Lagos. The facility is structured with a nine-year tenor, including a grace period of up to three years.
According to the presidency, the highway is designed to reduce travel time and logistics costs, improve road safety, and strengthen trade flows by linking agricultural production zones in the north with major markets and ports in the south. Officials also say it will enhance national integration and food security by improving movement across key economic corridors.
The request has been referred to the National Assembly’s debt committee for review, with lawmakers expected to assess the terms before granting approval. The move highlights Nigeria’s continued reliance on external borrowing to fund large-scale infrastructure, even as concerns persist over rising debt levels and fiscal sustainability.
