By Abdulsamad Abdulmalik
President Bola Tinubu has written to the Senate seeking approval to secure a fresh loan of $516,333,070 to fund infrastructure development.
The request, contained in a letter addressed to Senate President Godswill Akpabio, was read during plenary on Thursday.
According to the letter, the facility is to be obtained from Deutsche Bank and will finance the already approved borrowing plan for the Sokoto–Badagry 1,000km Super Highway project.
Tinubu urged lawmakers to grant expeditious consideration and approval of the request.
Following its presentation, Akpabio referred the letter to the Senate Committee on Local and Foreign Debts for further legislative action, directing it to report back within one week.
