Nigeria: Tinubu Seeks Senate Approval for Fresh $516m Loan

Asiwaju Bola Ahmed Tinubu/Page Facebook
President Bola Ahmed Tinubu
23 April 2026
Vanguard (Lagos)
By Henry Umoru, Abuja

President Bola Tinubu has written to the Senate, seeking approval to borrow a fresh $516,333,070 loan.

In a letter to the President of the Senate, Senator Godswill Akpabio, which was read on Thursday during plenary, the loan will be obtained from Deutsche Bank, and it is aimed at financing the already approved borrowing plan for it. Sokoto-Badagry 1,000 Super Highway.

President Tinubu in the letter is asking for an expeditious passage.

Akpabio referred the letter to the Committee on Local and Foreign Debts for legislative action and a report back in one week.

Read the original article on Vanguard.

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