Fashola: Why Nigerians Shouldn’t Worry about FG’s Borrowings

Ibrahim Shuaibu in Kano

The Minister of Works and Housing, Mr.Babatunde Fashola, SAN, has said Nigerians should not worry about the federal government’s continuous borrowings, because the infrastructure projects of the administration have justified the loans.

Fashola spoke yesterday at the opening ceremony of the 28th National Council of Works meeting held in Kano.

“Our first budget [in 2016] was over N250bn, up from the N18bn 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,” he said.

He maintained that, the ongoing projects across the country had justified the borrowings, especially, when compared with what the previous administrations had done.

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

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

The Kano State Governor, Abdullahi Umar Ganduje, who also spoke, noted that, there was need for synergy between the federal highways and states and thanked the Buhari administration for initiating various projects in his state.