President Muhammad Buhari
Federal Government borrowing to finance infrastructure was on Tuesday justified by President Muhammadu Buhari as he stated that his administration took loans to solve the dire shortfall in that area.
Buhari spoke at a meeting with members of the Presidential Economic Advisory Council (PEAC) at the State House, in Abuja, just as he stressed that the country must fix its roads to save lives from soaring road accidents.
Said he: “We have so many challenges with infrastructure. We just have to take loans to do roads, rail and power, so that investors will find us attractive and come here to put their money,’’
He regretted that the failure to provide the infrastructure for effective transportation deprived the country of its well-deserved status as the West African hub for Air cargo transportation and trans-shipment of goods.
Buhari noted that Nigeria would have been in trouble by now.
Added he: “That is why we virtually stopped the importation of food thereby saving jobs and foreign exchange”.