The Senate has defended its approval of a $516.3 million loan request from President Bola Ahmed Tinubu, describing the facility as 'lifeline' critical to avoiding delays in the execution of the Sokoto–Badagry superhighway project.

The approval followed consideration of a report by the Senate committee on foreign and local debt management. In the absence of its chair, Aliyu Wamakko, the deputy chair, Adamu Aliero, presented the findings to lawmakers during plenary.

Lawmakers expressed optimism that the highway would significantly reduce travel time between northern and southern Nigeria, boosting trade and economic activity along the route.

The Senate President , Godwill Akpabio, said the loan, sourced from Deutsche Bank AG, replaces an earlier financing arrangement from a Middle Eastern lender that has stalled amid disruption linked to the Iran war

In a separate development, the Senate confirmed several nominees of President Bola Ahmed Tinubu, including Lamido Abubakar Yuguda, as deputy governor of the Central Bank of Nigeria.

Meanwhile, Tinubu has formally notified the upper chamber of his decision to withhold assent to the National Identity Management Commission bill, citing what he described as structural defects, among other concerns.