Minister of Information and Culture, Lai Mohammed has expressed that the federal government has a lot to show for all the loans it has taken.
Mohammed stated this on Thursday at a town-hall meeting to address the destruction of power and communication infrastructure in Maiduguri, Borno state.
The minister stated that the government is not borrowing to finance recurrent expenditure but to build world-class infrastructure across the country.
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“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,” he said.
“We are borrowing to build world class infrastructure that will benefit generations of Nigerians. We have a lot to show for the loans we have taken.
“There is a road project in every state. Today, we have started the countdown to when the second 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.”