President Bola Tinubu has formally requested Senate’s approval to secure a fresh $516.3 million loan for the construction of the Sokoto–Badagry Superhighway.
The request was conveyed in a letter read by Senate President Godswill Akpabio during plenary on Thursday, April 23, 2026.
The project-specific borrowing forms part of a broader infrastructure drive that recently saw the Senate approve other substantial external loans, including $6 billion in March 2026 for budget deficits and port rehabilitation.
The 1,068-kilometre superhighway is designed to link the North-West directly to the South-West, traversing seven states, Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun and Lagos, to boost trade, security and agricultural mobility.
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Speaking on the project, Senator Mohammed Adamu Aliero (Kebbi Central) lauded the initiative, noting that it has been in development for 55 years.
“This project has been on the ground for the last 55 years. I have inspected the project and I have seen the progress made. I am highly impressed,” Senator Aliero said.
He also confirmed that ongoing work includes both concrete and asphalt sections fitted with solar-powered streetlights.
According to him, upon completion, travel time from Sokoto to Lagos will drop by more than 70 per cent, reducing a 13-hour journey to approximately six hours.
Senator Aliero, a former Governor of Kebbi State and former Minister of the Federal Capital Territory (FCT), urged the Senate to approve the request expeditiously once the committee submits its report.
Following the presentation of the President’s request, the letter was referred to the Senate Committee on Local and Foreign Debts, with a directive to report back within one week.
Work is already ongoing in sections of the project, particularly in Ogun and Kebbi states.
The project utilises a Public-Private Partnership (PPP) model for financing, with the Minister of Works, David Umahi, highlighting the use of durable concrete technology.
Umahi said parts of the highway are scheduled for commissioning later this year.
The six-lane infrastructure plan features rail integration and concrete technology, aimed at linking Nigeria’s Sahel region to the coastal economic hub of Badagry.
The loan has a tenure of nine years, including a grace period of up to three years, with an interest rate not exceeding the Chicago Mercantile Exchange (CME) SOFR plus 5.3 per cent per annum.
The Federal Executive Council has already approved the financing arrangement and its terms.
The administration has maintained that borrowing is necessary to bridge the infrastructure gap and stimulate industrial development, as the national budget alone cannot fund such large-scale legacy projects.