Tinubu Writes Senate, Demands ‘Expeditious Consideration’ Of Fresh $516.3m Loan Request

By Rotela Oguns

President Bola Tinubu has written a letter to the Senate demanding what he described as “expeditious consideration” of a fresh $516.3 million loan from Deutsche Bank to

Tinubu addressed the letter to the Senate President, Godswill Akpabio, which the leader of the Red Chamber read during the plenary on Thursday.

According to the letter, the proposed  loan is needed to fund Sections 1, Phase 1a and 1b of the Sokoto–Badagry Superhighway, a key transport corridor expected to stretch about 1,000 kilometres in total, with the current phase covering 120 kilometres.

After reading of the letter, Akpabio referred it to the Senate Committee on Local and Foreign Debts for further legislative action.

The committee was directed to report back in one week.