House of Representatives Nigeria Approves $516m Sokoto–Badagry Loan

The House of Representatives has approved a $516 million external loan request by the Federal Government to finance the Sokoto–Badagry Super Highway project, a major infrastructure initiative expected to boost economic connectivity across Nigeria.

The approval followed deliberations on a report presented by the House Committee on Aids, Loans, and Debt Management, which recommended the loan as part of the government’s borrowing plan.

Lawmakers said the project is critical for enhancing trade, reducing transportation costs, and linking key economic corridors from the northern to the southern parts of the country. The highway is expected to pass through several states, facilitating movement of goods and services.

The Minister of Works had earlier briefed the National Assembly on the strategic importance of the road, describing it as a legacy project that would open up rural communities and stimulate investment.

However, some lawmakers raised concerns about Nigeria’s rising debt profile, urging the government to ensure transparency and accountability in the use of borrowed funds. They emphasized the need for strict monitoring to guarantee value for money.

In response, the committee assured that proper oversight mechanisms would be put in place to track the project’s execution and ensure compliance with international lending standards.

Economic analysts say infrastructure investments remain vital for Nigeria’s growth but warn that sustainable debt management will be crucial to avoid fiscal strain.

The Sokoto–Badagry Super Highway is part of broader efforts by the government to modernize the country’s transport network and drive long-term economic development.