Nigeria government defends foreign borrowings with infrastructure projects

The Minister of Works and Housing, Babatunde Fashola, said yesterday that the Federal Government under President Muhammadu Buhari has justified foreign borrowings with construction of infrastructure projects across the country, compared to previous administrations.

The Minister, who stated this during the opening ceremony of the 28th National Council of Works meeting holding in Kano, said: “Our first budget [in 2016] was over N250billion, up from the N18billion we met in 2015, that was an increase of over a thousand per cent, even though the price of crude oil was dropping, we did not raise taxes.

“So, some of these monies had to be borrowed. When you hear those conversations about public debts, this is where the money went. Just remember that.’

He said the government had been able to deliver more than 1,800 kilometers of roads across the six geopolitical zones of the country so far, adding that it was determined to complete all ongoing projects before the expiration of its tenure in May next year.

Earlier, Kano State governor, Abdullahi Umar Ganduje, said there was need for synergy between the federal government and states on highways.

Ganduje, who commended the government for initiating projects in his state, said: “I would like to express the appreciations and gratitude of government and the good people of Kano State to President Muhammadu Buhari and the minister over the provision of various federal government’s interventions across the state, namely: Dualization of Kano – Maiduguri road, construction of Kano Western Bypass road, Dualization of Kano – Katsina road and rehabilitation of Kano – Zaria – Kaduna – Abuja road which are all progressing by the day.

”Moreover, we are looking forward to more of such interventions, especially related to our earlier request to replace the proposed rotary intersections with flyovers, particularly at certain junctions connecting the ongoing Western Bypass road.”

Credit: Vanguard Nigeria