The House of Representatives of Nigeria has approved a request by President Bola Tinubu for a $516.3 million loan to finance parts of the Sokoto–Badagry Super Highway project.

The approval was granted during plenary on Tuesday in Abuja following the presentation of a report by Deputy Chairman of the House Committee on Aids, Loans and Debt Management, Abdullahi Rasheed.

The loan, to be sourced through syndicated financing from Deutsche Bank, is intended to fund sections 1, 1A and 1B of the highway project covering about 120 kilometres.

President Tinubu had earlier written to the National Assembly requesting approval for the facility, explaining that it would support construction work on a key segment of the broader highway linking multiple states across the country.

The project forms part of the administration’s infrastructure programme aimed at improving national connectivity and easing transportation of goods along major economic corridors.

The full Sokoto–Badagry highway is planned to span about 1,000 kilometres, connecting states including Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun and Lagos.

According to the proposal, the financing structure includes a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit, while the federal government will contribute over ₦265 billion for land acquisition and compensation.

The loan is structured over nine years with a three-year moratorium and carries an interest rate linked to global benchmark rates plus a margin.

Lawmakers noted that the Federal Executive Council had already endorsed the financing arrangement before its presentation to the National Assembly for approval.