The House of Representatives has approved the $516.3 million syndicated loan requested by President Bola Tinubu to finance Section 1 (Phase 1A and 1B) of the Sokoto–Badagry Superhighway. The decision was taken during plenary on Monday.
Loan Approval Process
The approval followed the adoption of a report by the House Committee on Aids, Loans and Debt Management. Committee chairman Abubakar Nalaraba presented the report and urged lawmakers to endorse the request, describing the 120-kilometre stretch as critical to national development and connectivity.
Earlier, committee member Abdullahi El-Rashid (Dukku/Nafada, Gombe) moved the motion for consideration, stressing the project's strategic importance for economic integration. The motion was seconded by Bello Isah Ambarura (Illela/Gwadabawa, Sokoto). The House then resolved into the Committee of Supply, where the report was considered clause-by-clause, and all five recommendations were approved before final adoption.
Loan Details and Conditions
Lawmakers endorsed the $516.3 million facility from Deutsche Bank AG and approved its inclusion in the Federal Government's rolling borrowing plan. The financing structure includes a partial guarantee by the Islamic Corporation for the Insurance of Investment and Export Credit, a nine-year tenor with up to three years' moratorium, and an interest rate benchmarked at CME SOFR plus 5.35 per cent annually.
To ensure accountability, the House mandated strict legislative oversight. The Federal Ministry of Finance, the Debt Management Office (DMO), and the Federal Ministry of Works must submit quarterly reports on disbursement and project implementation. All executed financing agreements must be transmitted to the National Assembly within 30 days of financial close, while relevant committees will carry out continuous monitoring.
National Assembly Adjournment for Primaries
Meanwhile, the National Assembly will adjourn plenary to allow lawmakers to participate in party primaries ahead of the 2027 general elections. Senate President Godswill Akpabio announced the decision, noting that many senators would be engaged in nomination processes. He said the adjournment was necessary to balance legislative duties with constituency and party obligations, while committee work would continue.
“Many senators will not be here, so there will be a need for a slight adjournment of plenary. Committees can still continue with oversight functions,” Akpabio said. He added that pending legislative matters would be concluded before the break. “We want to finish pending matters before Thursday, so senators can proceed to their constituencies for primaries according to their parties.” He urged political parties to schedule primaries in a way that accommodates lawmakers' legislative responsibilities.
Election Timetable
According to the Independent National Electoral Commission (INEC) timetable for the 2027 elections, party primaries will hold between April 23 and May 30. The All Progressives Congress (APC) has fixed its primaries for May 15 to 23, with aspirant screening scheduled for May 6 to 9. A faction of the Peoples Democratic Party (PDP) aligned with Nyesom Wike scheduled its presidential primary for May 17 to 18. The Labour Party (LP) led by Nenadi Usman fixed May 23 for its presidential primary. INEC slated presidential and National Assembly elections for January 16, 2027, while governorship and state assembly elections will hold on February 6, 2027.
