Tinubu seeks additional $347m loan for Lagos-Calabar highway, telecoms projects
[NigerianEye - Nigeria] - 23/07/2025
President Bola Tinubu has asked the national assembly to approve an additional $347 million external loan under the 2025–2026 borrowing plan. Tajudeen Abbas, speaker of the house of representatives, read a letter containing Tinubu’s request during Wednesday’s plenary. According to the letter, Tinubu said the loan is necessary due to a rise in the funding needs for the Lagos-Calabar Coastal Highway project, whose cost increased by $47 million, from $700 million to $747 million. The president said when the borrowing plan was transmitted to the national assembly, the lead arranger for (…)
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