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Akpabio set to approve another loan request by Tinubu
Nigeria’s debt burden is set to worsen as President Bola Tinubu has formally written to the Senate, seeking approval for a $516.3 million foreign syndicated loan to support the construction of the Sokoto–Badagry highway.
This was contained in a communication read by the President of the Senate, Godswill Akpabio, on Thursday.
The message said President Tinubu requested a resolution in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to enable the Federal Government to secure the financing for Sections 1, Phase 1A, and 1B of the project. The loan facility is to be arranged through Deutsche Bank AG.
President Tinubu explained that the superhighway project is a flagship initiative under his administration’s Renewed Hope Agenda, designed to enhance national connectivity, reduce travel time, and improve the movement of goods across key economic corridors.
The proposed 1,000-kilometre road will link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, connecting Illela to Badagry.
He noted that the financing arrangement will be backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), while the Federal Government will provide counterpart funding of over 265 billion naira for land acquisition, compensation, and related infrastructure.
According to the president, the loan is structured for nine years, including a three-year grace period, with an interest rate pegged at the Chicago Mercantile Exchange SOFR plus 5.3 per cent per annum. The Federal Executive Council has already approved the financing plan.
Following the presentation of the request at plenary, Akpabio referred the matter to the Senate Committee on Local and Foreign Debts, directing it to report back within one week.
Endorsing the move, the Senate President said that it is better to borrow for projects to improve road safety and foster national integration.
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Peter Obi alleges thugs blocked visit to Yelwata massacre victims in Benue
By Philippine Duru
philippineobetoduru@gmail.com
08034905774
Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has alleged that suspected hired thugs obstructed his visit to Yelwata community in Benue State, where more than 270 people were reportedly killed in a deadly attack.
Obi made the allegation in a statement following his arrival in Benue on Tuesday, September 8, 2026, saying he had travelled to the state on a humanitarian mission to commiserate with families affected by the killings.
According to him, he arrived in Benue at about 9:00 a.m. but his convoy was prevented from proceeding to the affected community by individuals chanting, “Peter Obi, go back.”
Obi described the incident as distressing, stressing that his visit was not politically motivated but intended to mourn with the bereaved, listen to affected families and offer solidarity following the tragedy.
He said the obstruction was particularly troubling at a time when Nigerians should be united in grief and focused on preventing further loss of lives.
The former governor recalled that he had consistently promoted political civility, citing his attendance the previous day at the opening of the national campaign office of opposition presidential candidate and Oyo State Governor, Seyi Makinde, in Abuja.
He said his presence at the event was meant to demonstrate that political differences should not prevent mutual respect and civility.
Obi also recalled that while serving as governor of Anambra State, he personally welcomed visiting opposition members during election campaigns, provided their activities remained within the law.
He condemned what he described as efforts to deepen political divisions, insisting that Nigerians should be able to live, travel and farm without fear.
“At a time when our nation should be united in grief and resolute in preventing further bloodshed, we must reject any action capable of deepening our divisions,” Obi said.
He maintained that the primary responsibility of government was to protect human life, arguing that political considerations should never take precedence over the safety and security of citizens.
Although he could not reach Yelwata as planned, Obi said his thoughts and prayers remained with the victims, their families and the entire community.
He pledged to continue advocating for the protection of Nigerian lives, concluding with his familiar declaration: “A New Nigeria is POssible.”
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