Following the latest economic crisis that Nigeria is suffering, a lot of controversies have been generated as regarding the bid of President Muhammadu Buhari about borrowing more funds.
Few days ago, the president of Nigeria had written to the the National Assembly for an approval on the $4 billion and €710 million external loans that he intends to borrow.
The Minister explains that the president is aspiring to build a world class infrastructure that will definitely benefit Nigerians. He affirmed that President does not intend to use this funds to pay for recurrent expenditure or to pay salaries.
Mohammed said, “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. We are borrowing to build world class infrastructure that will benefit generations of Nigerians. And we have a lot to show for the loans we have taken”.
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