Lai Mohammed, Minister of Information and Culture, has explained that the President Muhammadu Buhari’s administration is borrowing to build world-class infrastructure that will benefit generations of Nigerians.
The minister stated this on Thursday at a town hall meeting with Prof. Babagana Zulum and stakeholders in Borno State.
Recall that the president had a few days ago written to the National Assembly to approve another $4 billion and €710 million external loans.
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.”