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There Is Nothing Wrong In FG Borrowing More Money For Infrastructures -Lai Mohammed

There Is Nothing Wrong In FG Borrowing More Money For Infrastructures -Lai Mohammed

The Minister Of Information and Culture, Lai Mohammed, said that he sees nothing wrong in the Federal government borrowing funds.

Lai Mohammed along side the Minister of Transportation, Rotimi Amaechi stated this while inspection the Obafemi Awolowo terminal end of the Lagos-Ibadan standard gauge rail project.

The Ministers stated that there should be no cause for alarm since the funds are being used for the development of critical infrastructure that will benefit Nigerians.

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In his words:

“There is no better way to answer Nigerians as to what we have done with the money we borrowed than this project we have inspected. This is one of the many projects that we are doing with the money we have borrowed.

“There is nothing bad in borrowing provided that such borrowing is invested in infrastructure. There is also nothing bad in borrowing provided the funds are used to create jobs and create the enabling environment for the growth of the economy,” he said.

The Minister of Transportation, Rotimi Amaech, who later spoke at venue said he is pleading with the National Assembly to stop the ongoing probe on the loans so as to fasten the delivery of the rail projects.

“Why we are telling them to stop the probe is that they are not investigating corruption in the construction project itself but the issue of loan that we accessed.

“They should allow us to get the loan for the Ibadan to Kano rail project which is about 5.3 billion dollars,” he said.

Mr Amaechi also noted that funds would not be a problem for the timely completion of the Lagos Ibadan project because they have on the ground about 1.6 billion dollars.

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