Nigeria’s House of Representatives has approved President Bola Ahmed Tinubu’s request to secure a $516.33 million loan from Deutsche Bank to fund the first phase of the ambitious Sokoto–Badagry Superhighway project.
The approval was granted on Tuesday during plenary at the National Assembly, presided over by Speaker Tajudeen Abbas, following the consideration of the request by the Committee of Supply.
In a letter presented to lawmakers, Tinubu described the proposed highway as a transformative infrastructure project designed to link Nigeria’s northwestern region to its southwestern coastline. The approximately 1,000-kilometre dual carriageway will stretch from Illela in Sokoto State to Badagry in Lagos State.
The route is expected to pass through multiple states, including Kebbi, Niger, Kwara, Oyo, and Ogun, connecting key agricultural, industrial, and commercial hubs across the country.
According to the President, the superhighway will significantly enhance the movement of goods and people, reduce travel time and logistics costs, and strengthen trade links between production zones, markets, and ports.
He added that the project would improve national connectivity, boost food security, and foster economic integration, while also allowing for future rail development through a reserved central corridor.
The financing structure includes the $516.33 million facility from Deutsche Bank, supported by partial risk guarantees from the insurance arm of the Islamic Development Bank. The Federal Government will also contribute N265.54 billion as counterpart funding to cover land acquisition, compensation, and related infrastructure.
Tinubu urged lawmakers to fast-track approval of the loan, citing the project’s strategic importance to national development and economic growth.
Presenting the report of the House Committee on Aids, Loans and Debt Management, Abdullahi El-Rasheed, on behalf of Chairman Abubakar Nalaraba, recommended the approval of the request, highlighting its potential to drive long-term economic productivity.
The Sokoto–Badagry Superhighway is considered one of Nigeria’s largest road infrastructure projects and is expected to serve as a major economic corridor, boosting regional trade, improving access to seaports, and attracting investments in logistics, manufacturing, and real estate.
The project also aligns with Nigeria’s broader infrastructure modernisation agenda and its commitment to enhancing competitiveness under the African Continental Free Trade Area.
With the House’s approval secured, the project is set to move into its implementation phase, beginning with Section I of the corridor.
