The House of Representatives on Tuesday gave the green light to a $516.3 million syndicated loan from Deutsche Bank AG to fund Section 1 (Phase 1A and 1B) of the Sokoto–Badagry Superhighway project
The decision came after lawmakers adopted the report of the House Committee on Aids, Loans and Debt Management during plenary.
While presenting the report, committee chairman Abubakar Hassan Nalaraba called on his colleagues to support the request, stressing the importance of financing the 120-kilometre segment of the highway.
Earlier, Abdullahi El-Rashid, who represents Dukku/Nafada Federal Constituency in Gombe State, moved the motion for the report’s consideration, pointing to the project’s role in boosting national economic connectivity.
The motion was seconded by Bello Isah Ambarura, representing Illela/Gwadabawa Federal Constituency of Sokoto State.
Lawmakers then entered the Committee of Supply, where the report was reviewed clause-by-clause and all recommendations were approved. The House later reconvened in plenary to formally adopt the report, endorsing all five resolutions, including the loan facility and its addition to the Federal Government’s rolling borrowing plan.
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