House of Representatives approves $516 million Deutsche Bank loan for Sokoto鈥揃adagry superhighway
via Punch Nigeria1 min read
The House of Representatives has approved President Bola Tinubu鈥檚 request to borrow $516,333,007 in syndicated financing from Deutsche Bank AG for infrastructure development. This approval, granted during a plenary session in Abuja, follows a report presented by Abdullahi Rasheed, Deputy Chairman of the House Committee on Aids, Loans and Debt Management. The loan is intended to support sections of the proposed Sokoto鈥揃adagry Super Highway, a key infrastructure project under the Tinubu administration aimed at improving connectivity across Nigeria. President Tinubu had previously sought legislative approval for these funds, specifying that they would finance Sections 1, 1A, and 1B of the project. The 1,000-kilometer highway is designed to connect Nigeria鈥檚 North-West and South-West corridors, passing through Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, from Illela to Badagry. The President stated that the project is expected to significantly enhance connectivity, facilitate trade, and drive economic integration in the affected regions.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Punch Nigeria.
The 2026 World Cup is facing a lack of enthusiasm in the United States, with high ticket prices and visa denials for some fan delegations contributing to the subdued atmosphere. Many fans, including former President Donald Trump, have expressed concerns over the cost of tickets, with some exceeding $1,000 for the opening match. Arvin Baines, an England fan, noted that many of his friends decided not to travel due to expenses. Thomas Shaw, another British fan, found it too expensive to attend multiple games despite using loyalty points for his son's ticket. Additionally, official fan delegations from Ivory Coast and Senegal will not be present due to US visa denials, as stated by Julien Kouadio Adonis, president of Ivory Coast鈥檚 National Committee of Elephants Supporters. In New York, local interest appears to be more focused on the Knicks basketball team. However, some anticipate excitement will grow if the US team advances in the tournament. Co-hosts Mexico and Canada are reportedly showing higher levels of enthusiasm.
Must ReadThe Economic and Financial Crimes Commission EFCC arrested Aviation Security officer Inspector Ali Baffa and two suspected accomplices at Mallam Aminu Kano International Airport for allegedly attempting to smuggle unprocessed gold bars valued at over N4.4 billion out of Nigeria. Baffa was apprehended during surveillance with 22.2 kilograms of gold bars concealed in his trousers, intended for passengers traveling overseas. Further investigations led to the arrest of Aushabu Nasidi, linked to the gold bar supply, from whom assorted foreign currencies were recovered. Investigators also arrested Mukhtar Muhammad Dan Zaria, who allegedly delivered the gold bars to Nasidi and confessed to smuggling about 40.2 kilograms of gold between June 1 and June 11, 2026, using the same method. The three suspects remain in custody and will be charged after investigations conclude. Nigeria has increased efforts to curb illegal solid mineral exports, including gold, due to revenue losses and smuggling.
Must ReadEnugu State Governor Peter Mbah praised the Department of State Services, the Nigerian Army, and the Nigeria Police Force for their security efforts in the state and the South-East region. The commendation followed his inspection of weapons and ammunition recovered during a raid on the proscribed Eastern Security Network's armory in Enugu State. The recovered items included a rocket launcher, two RPG warheads, three RPG chargers, 11 AK-47 rifles, over 610 rounds of 7.62mm NATO ammunition, National Youth Service Corps uniforms, and lanyards. Governor Mbah, accompanied by security chiefs and senior government officials, highlighted the effective cooperation among security agencies, stating that their intelligence-driven operation prevented coordinated attacks intended to destabilize Enugu and other South-East states. He added that the seized arms would have been used by ESN terrorists to cause widespread damage and create a false impression of insecurity in Nigeria. The governor also called on Nigerians to support President Bola Tinubu's ongoing efforts to address insecurity nationwide.