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Nothing wrong with borrowing to fund projects – Lai Mohammed



Minister of Information , Culture and National Orientation, Lai Mohammed , says there is nothing wrong with borrowing to fund government projects.
He stated this on Saturday while he accompanied the Minister of Transportation , Rotimi Amaechi , to inspect the ongoing railway project along the Lagos – Ibadan corridor .
Some loans obtained by the Federal Government to facilitate projects in the country have been subject of controversy of late . The National Assembly had recently grilled Amaechi on details of some Chinese loans channeled towards the construction of rail projects across the country .
Commenting on some of the loans obtained by the regime of the President , Major General Muhammadu Buhari ( retd. ) , Mohammed said, “ There is no better way to answer Nigerians on what we have done with the money we borrowed than this trip .
“ We did not borrow money for overhead expenditures . We borrowed money for roads, bridges , power , infrastructure generally .
“ There is nothing bad in borrowing , provided that borrowing is invested in infrastructure . There is nothing bad in borrowing if it will create jobs for the economy.
“ I am very excited not because I am a minister but when I got into the train this morning , I noticed that it was as clean and modern as any coach in the world .”The exercise which commenced at the Nigerian Railway Corporation complex , Ebute -Meta at exactly 07 : 40 am had in attendance representatives from the Federal Ministry of Transportation and the China Civil Engineering Construction Corporation .
On his part , Amaechi said Nigerians should wait till January to see the progress while he urged the contractor to hasten up the project .
He added the coronavirus pandemic hampered the delivery of the project which was initially scheduled to be completed mid – 2020 but urged Nigerians to wait till the completion of the project .

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