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The House of Representatives has acceded to the Federal Government’s plan to source $516,333,007 from foreign lenders to fund the construction of sections of the Sokoto-Badagry superhighway project.
The plan was approved at plenary on Tuesday after the presentation of a report by Deputy Chairman, Committee on Aids, Loans, and Debts Management, Hon. Abdullahi Rasheed.
SunOnline reports that the proposal was given expedited attention by the Green Chamber following the reading of the loan request letter by Speaker of the House of Representatives, Hon. Tajudeen Abbas.
The House asked the
Federal Ministry of Finance, Debt Management Office (DMO) and Ministry of Works and Housing to provide quarterly reports on the disbursement of funds and project implementation.
Last week, the president also sought the Senate’s approval for the $516 million loan.
Senate President Godswill Akpabio read the loan request letter at plenary on Thursday.
