The Nigerian Senate has approved a $747 million loan for the construction of Section 1 (Phases 1A and 1B) of the Sokoto–Badagry Super Highway.

The approval followed the adoption of a report presented by the Senate Committee on Local and Foreign Debts, chaired by Senator Aliyu Wamakko, recommending that the financing—arranged through Deutsche Bank—be included in the Federal Government’s borrowing plan.

The loan, backed by a partial guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), has a nine-year tenure with a grace period of up to three years.

Lawmakers подчеркнули the project’s strategic importance, noting it will link three geopolitical zones and significantly cut travel time between northern and southern Nigeria.

Senate President Godswill Akpabio explained that earlier funding efforts through Abu Dhabi stalled due to regional conflicts, necessitating alternative financing.