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Reps Clear $516m Foreign Loan for Flagship Highway Project

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By Gloria Ikibah

The House of Representatives has given the green light to President Bola Ahmed Tinubu’s request to secure more than $516 million in external financing, paving the way for a major infrastructure push under the current administration.

The approval was granted during Tuesday’s plenary in Abuja following the consideration of a report presented by Abdullahi Rasheed, deputy chairman of the House Committee on Aids, Loans and Debt Management.

The funding, arranged through a syndicated facility led by Deutsche Bank AG, is earmarked for the development of key sections of the ambitious Sokoto–Badagry Super Highway project.

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The proposed financing will specifically support sections 1, 1A and 1B of the road, covering roughly 120 kilometres in the first phase of construction. The request was submitted to the National Assembly in line with statutory provisions governing public borrowing.

The highway scheme, a centrepiece of the administration’s economic agenda, is designed to improve connectivity across several states and streamline the movement of goods along critical trade routes. Stretching an estimated 1,000 kilometres, the corridor is expected to link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun and Lagos, connecting Illela in the north to Badagry on the Atlantic coast.

As part of the financing structure, the loan is backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit, providing an additional layer of assurance for lenders.

The Federal Government is also expected to commit substantial counterpart funding exceeding ₦265 billion to cover land acquisition, compensation and associated infrastructure costs.

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The borrowing arrangement is structured over a nine-year period, including a three-year grace window, with interest tied to the Chicago Mercantile Exchange SOFR benchmark plus a margin of 5.3 per cent annually.

The Federal Executive Council had earlier endorsed the financing plan, clearing the path for legislative approval and the next phase of implementation.

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Police nab content creator over alleged rape of girl who committed suicide in Asaba

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The Delta State Police Command has confirmed the arrest of a 44-year-old popular content creator simply identified as Odogwu Asaba.

The suspect was nabbed for allegedly raping a 21-year-old girl (name withheld).

The girl was said to have committed suicide after the incident.

It was said that the deceased was lured into Asaba by the suspect under the pretence of wanting to help her.

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Police Public Relations Officer, SP Bright Edafe, confirmed the arrest on Wednesday.

It was learnt that the suspect was arrested on Tuesday at his residence in Asaba, following a petition by a human right activist, Comrade Israel Joe.

The suspect is currently in police custody and has allegedly confessed to the crime.

Warri based human rights activist, Comrade Israel Joe, commended the Delta State Police Command for the arrest, just as he insisted that justice must be seen to have been served in the matter.

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Senator Abba Moro moves motion demands heavy deployment of security to troubled communities in Otukpo

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The senator representing Benue South Senatorial District and Senate Minority Leader, Comrade Abba Moro, on Wednesday moved a motion on the renewed attacks on Benue South communities in the last few days.

Akpachi-Ugboju, Otukpo-Nobi and Ondo Ugboju communities of Otukpo Local Government Area were attacked by armed bandits on Friday, Sunday and Tuesday respectively resulting in the death of 20 persons, displacement of several persons and destruction of properties worth millions of naira.

In the motion titled, “The urgent needto stop the gruesome murder of inhabitants of Akpachi-IUgboju Otukpo-Nobi inhabitants and fresh attacks on Ondo Ugboju in Otukpo LGA of Benue State by suspected bandits”, Senator Moro lamented sustained attacks on defenceless constituents and called on government at all levels to secure the lives and properties of Nigerians, which is the primary responsibility of every government.

The motion reads;

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“The Senate:

“Notes with utter dismay and heavy heart the horrific and unprovoked attacks on the peaceful, agrarian Communities of Akpachi-Ugboju, Otukpo-Nobi and Ondo Ugboju communities of Otukpo Local Government Area, Benue State, by suspected Armed Bandits between Friday, Sunday of last week and Tuesday this week;

“The primary responsibility of any government, as enshrined in Section 14(2)(b) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), is the security and welfare of its citizens;

“Aware that the weekend assaults resulted in the tragic and gruesome murder of innocent, defenseless citizens, with a confirmed death toll of two (2) lives lost in Akpachi-Ugboju and sixteen (16) lives lost in Otukpo-Nobi, bringing the total number of fatalities in these two incidents to eighteen (18);

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“Disturbed that aside from the lives lost, numerous members of these communities sustained varying degrees of life-threatening injuries and are currently admitted in various hospitals struggling for their lives, while properties and farmlands have been destroyed, forcing survivors to flee their ancestral homes;

“Alarmed by the sudden, coordinated, and fresh attack launched on Ondo Ugboju, July 14, 2026, which has thrown the entire local government area into a state of panic, widespread displacement, and severe humanitarian crisis with a confirmed death cases of two (2) lives lost in Ondo-Ugboju, Otukpo Local Government Area of Benue State;

“Concerned that the relentless and audacious nature of these attacks suggest a deliberate attempt to decimate these communities, and if urgent security interventions are not immediately deployed, the situation will degenerate into a complete breakdown of law and order, alongside a looming food crisis as farmers are forced to abandon their farmlands out of fear for their lives.

“Accordingly resolved to (PRAYERS):

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“1. Observe a minute of silence in honor of the twenty (20) innocent citizens who were gruesomely murdered in Akpachi-Ugboju and Otukpo-Nobi, and others who may have lost their lives in the fresh attack on Ondo Ugboju.

“2. Condemn in the strongest possible terms the unprovoked killings and destruction of properties by suspected bandits in Ugboju and Otukpo Districts.

“3. Urge the Inspector General of Police (IGP), the Chief of Army Staff (COAS), and other relevant security agencies to immediately deploy a heavy security presence to Akpachi-Ugboju, Otukpo-Nobi, Ondo Ugboju, and surrounding communities to restore normalcy, protect lives, and prevent further attacks.

“4. Mandate the Inspector General of Police to conduct a thorough investigation into the attacks, track down the perpetrators, and ensure they are brought to justice to serve as a deterrent to others.

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“5. Urge the National Emergency Management Agency (NEMA) and the Federal Ministry of Humanitarian Affairs and Poverty Alleviation to urgently mobilize and supply relief materials (including food, medical supplies, and shelter) to the displaced persons and the injured currently receiving treatment in various hospitals.

“6. Mandate the Senate Committees on Police Affairs, Defense, and National Security and Intelligence to interface with the heads of security agencies to evaluate their operational strategies in Benue South and ensure compliance with these resolutions.

“I so move.”

In his response, the President of the Senate, Senator Godswill Akpabio, GCON, sympathized with Senator Moro and the people of Benue South over the attacks. He said Nigerians deserved the right to sleep in their houses with their eyes closed and go about their lawful activities without fear.

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He expressed optimism that the resolutions of the senate would be implemented to forestall future occurrence in the affected communities and indeed the entire country.

A minute silence was observed in honour of all those who died in the attacks.

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Tinubu’s Govt Makes Fresh Appointment

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The Federal Government has inaugurated a Ministerial Advisory Committee made up of economists, public finance experts and private sector leaders to strengthen economic policymaking and support the implementation of ongoing fiscal reforms.

Members of the committee include the Managing Director of Sterling Bank, Abubakar Suleiman; the Chief Executive Officer of Economic Associates, Dr Ayo Teriba; the President of the Capital Market Academics of Nigeria, Prof. Uche Uwaleke; and the Director-General of the Lagos Chamber of Commerce and Industry, Chinyere Almona, among others.

Speaking during the inauguration in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, described the committee as a strategic partnership between the public and private sectors aimed at closing the gap between policy formulation and implementation.

He said the committee would provide independent, evidence-based advice to support government decisions and help ensure that ongoing economic reforms improve the lives of Nigerians.

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According to Oyedele, the Tinubu administration has introduced major reforms, including the removal of fuel subsidy, the unification of the foreign exchange market and the implementation of tax reforms to improve fiscal sustainability.

He said the government’s priority is to ensure these reforms lead to job creation, lower inflation, improved business confidence and better living standards.

“The committee will serve as a bridge between policy design and implementation by providing practical, evidence-based recommendations that strengthen government decisions and anticipate emerging economic risks,” Oyedele said.
The minister explained that the committee would not exercise executive powers or replace any existing government institution but would provide objective analysis and practical policy recommendations.

He urged members to assess how government policies affect businesses and households and recommend adjustments where necessary.

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According to him, the committee will focus on economic policy, public financial management, economic coordination and strategies to ensure reforms produce meaningful national results.

Oyedele also restated the Federal Government’s goal of achieving seven per cent annual economic growth and building a $1 trillion economy by 2030.

He praised the members for agreeing to serve without pay, describing their decision as an act of patriotism. He assured them that their recommendations would help shape ministerial decisions and government policies.

The minister also encouraged the committee to remain objective, challenge existing assumptions and base its recommendations on credible evidence rather than political considerations.

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He urged members to engage with businesses, manufacturers and citizens so that government policies reflect the realities across the country.

Earlier, the Permanent Secretary of the Federal Ministry of Finance, Raymond Omachi, described the committee as a strategic platform for evidence-based economic policymaking.

Omachi said the advisory body consists of economists, public finance specialists, governance professionals, development experts and private sector representatives who will provide advice on fiscal reforms, government efficiency, stakeholder engagement and economic coordination.

He added that the committee would support efforts to strengthen fiscal sustainability, improve public confidence and advance Nigeria’s economic transformation agenda.

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Omachi congratulated the members on their appointment and thanked them for offering their expertise in service to the country.

Speaking on behalf of the committee, its chairman, Abubakar Suleiman, assured that members would focus on practical and workable recommendations.

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