- Safiu Kehinde
The House of Representatives has approved President Bola Tinubu’s request for $516 million fresh loan.
NPO Reported that Tinubu had last week written to the Senate, demanding the approval of the loan request from Deutsche Bank to fund the construction of the Sokoto-Badagry Superhighway.
Tinubu had in the letter to the Senate President, Godswill Akpabio, maintained that the request is in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011.
This, according to the President enable the federal government to secure the financing for Sections 1, Phase 1A, and Phase 1B of the project.
The request would also be tendered before the House of Representatives during plenary session on Tuesday.
Abdullahi Rasheed, the deputy chairman of the House Committee on Aids, Loans, and Debts Management, had presented the report of the loan before the green chamber which was approved after the presentation.
More details later…