Transport Infrastructure
Tinubu, the Nigerian leader, seeks approval from Parliament for a $516 million road loan
Nigerian President Bola Tinubu asked the Nigerian parliament to approve a $516m foreign loan for a?help to finance a?first section?of a national highway. This is a major transportation corridor connecting the country's southwest to its northwest. Tinubu stated in a letter that was read out by the Senate president on Thursday during a plenary meeting, the 'government' was seeking approval from Deutsche Bank for the'syndicated financing facility'. He added the loan was a part of the'medium-term borrowing program' approved by lawmakers. Tinubu wrote in his letter that the loan would be for nine years, with a grace period of up...