FG Defends Foreign Borrowings With Infrastructure Projects

FG Defends Foreign Borrowings With Infrastructure Projects

In contrast to previous administrations, the Federal Government under President Muhammadu Buhari has justified foreign borrowings with the construction of infrastructure projects across the nation, according to Babatunde Fashola, the Minister of Works and Housing, who made the statement yesterday.

The Minister said the following at the opening ceremony of the 28th National Council of Works meeting, which was held in Kano: “Even though the price of crude oil was falling, we did not raise taxes. Our first budget [in 2016] was over N250 billion, up from the N18 billion we met in 2015.

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

He claimed that the country’s six geopolitical zones have received more than 1,800 kilometers of roads from the government so far, and he added that the government was resolved to finish all ongoing projects before the end of its term in May of the next year.

The governor of Kano State, Abdullahi Umar Ganduje, had earlier stated that cooperation between the federal and state governments on highways was necessary.

Ganduje, who commended the government for initiating projects in his state, said: “I would like to express the appreciations and gratitude of government and the good people of Kano State to President Muhammadu Buhari and the minister over the provision of various federal government’s interventions across the state, namely: Dualization of Kano – Maiduguri road, construction of Kano Western Bypass road, Dualization of Kano – Katsina road and rehabilitation of Kano – Zaria – Kaduna – Abuja road which are all progressing by the day.

”Moreover, we are looking forward to more of such interventions, especially related to our earlier request to replace the proposed rotary intersections with flyovers, particularly at certain junctions connecting the ongoing Western Bypass road.”