Today President Muhammadu Buhari has justified Why Nigeria must Borrow to fund infrastructure.
Buhari, who spoke at a meeting at the State House, Abuja, with members of the Presidential Economic Advisory Council (PEAC). Clarified that his administration is taking loans to address the infrastructure shortage.
According to him, fixing bad roads and constructing new ones in the country is relevant to saving lives from soaring road accidents.
“We have so many challenges with infrastructure. We just have to take loans to do roads, rail and power, so that investors will find us attractive and come here to put their money,’’. He said after listening to a presentation by PEAC chaired by Prof. Doyin Salami.
According to him, the failure to provide the infrastructure for effective transportation deprived the country of its well-deserved status as the West African hub for Air cargo transportation and trans-shipment of goods.
Buhari said If not for the borrowings, Nigeria would have been in trouble by now.
He further explained that this is the reason why the importation of food was banned to save jobs and foreign exchange.
Why Nigeria Must Borrow