We Borrowed Money For Capital Projects And There Is Nothing Bad In Borrowing"- FG

"We Borrowed Money For Capital Projects And There Is Nothing Bad In Borrowing"-  FG





The Honorable Minister of Information and Culture,  Lai Mohammed on Saturday said there is nothing bad in borrowing for infrastructure.

The minister disclosed this during an inspection tour of the Lagos-Ibadan railway project to the reporters on August 15,2020.

He said, "There is nothing bad in borrowing, provided that the borrowing is invested in infrastructure,especially when it will create jobs, create an enabling environment for economy."

The minister further stressed that he was impressed with the Lagos-Ibadan rail project.  He added that he was quite impressed with the passion of the Honorable   Minister of transportation.

Describing the works of Minister of Transportation, Lai Muhammed said, " You can see that every point in time, he is pushing the contractors and I can't wait till October, I will come back in four weeks time because we want to be able to deliver this kind if infrastructure to Nigerians.

" We didn't borrow money for overhead expenditure. We borrowed money for capital projects: rail, road, bridges, power and general infrastructure," he added.

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