… President Submits Funding Request To National Assembly For Infrastructure Boost

President Bola Tinubu submitted a request to the National Assembly on July 24, 2025, seeking approval for a $347 million loan to fund the Lagos-Calabar Coastal Highway and telecommunications projects. The proposal includes $47 million for the highway’s expansion to enhance regional connectivity and $300 million for digital infrastructure to improve nationwide telecom services. In a letter read during the Senate plenary, Tinubu emphasized that the projects are critical for economic growth and technological advancement. The highway project aims to facilitate trade and tourism, while the telecom funding targets broadband expansion to underserved areas. Lawmakers referred the request to relevant committees for review, with debates expected over the loan’s terms and Nigeria’s rising debt profile. The proposal has drawn attention from stakeholders urging transparency in the utilization of the funds.

r