Minister of Information and Culture, Lai Mohammed, has
insisted that the present administration under President Muhammadu Buhari is
borrowing to build world-class infrastructure that will benefit generations of
Nigerians.
The minister spoke in Borno State on Thursday at a town hall
meeting with Prof. Babagana Zulum and stakeholders.
Mohammed explained that the Buhari administration is not
borrowing for recurrent expenditure or to pay salaries.
Recall that Buhari had a few days ago written to
the National Assembly to approve another $4 billion and €710 million external
loans.
The president’s request was contained in a letter addressed
to Senate President Ahmad Lawan and read at plenary yesterday.
Buhari said the proposed loan would be financed through
sovereign loans from the World Bank, French Development Agency, EXIM Bank and
IFAD.
Buhari noted that the loan, if approved, would enable the
Federal Government to fund critical infrastructural projects in different
sectors across the country.
Mohammed said, “Naysayers have recently ramped up their
criticism of the Buhari Administration for borrowing. These critics are
insincere. We are not borrowing for recurrent expenditure or to pay salaries.
We are borrowing to build world class infrastructure that will benefit
generations of Nigerians. And we have a lot to show for the loans we have
taken.
“Today, the standard-gauge rail lines between Lagos and
Ibadan as well as Abuja and Kaduna are running well. Today, we have new airport
terminals in Abuja, Kano, Lagos and Port Harcourt. Today,the Itakpe-Warri rail
line that was abandoned for decades is running.
“Today, we have well over 13,000km of federal roads under
repair, rehabilitation and reconstruction. There is a road project in every
state, Today, we have started the countdown to when the 2nd Niger Bridge, which
successive administrations have built only on paper, will be completed. The
list of projects we are handling with the loans we obtained is long.”
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