Lai Mohammed defends borrowing
Lai Mohammed defends borrowing saying that if the money is used for the required projects in Nigeria then there is nothing wrong with borrowing money
The Minister of Information and Culture, Lai Mohammed, has said that there is nothing bad in borrowing Money if it’s used well
He said that it is not wrong to borrow money provided the funds are invested into capital projects to improve and develop the country, rather than services or consumption.
Lai Mohammed said this on Saturday August 15, 2020, while speaking with journalists after he inspected the Lagos-Ibadan rail line along side the Nigerian Minster of Transportation, Rotimi Amaechi.
He then went on to note that the government did expenditure like most Nigerians believe, that the funds are used for infrastructures, rails, power, bridges and so on
“There is no better way to answer Nigerians as to what we have done with the money we have borrowed than this trip.
On this trip, you have seen first hand the stations being constructed, the rail lines, and the people who are working on the projects.
We didn’t borrow money for services or overhead expenditure.
We borrowed money for capital projects: rail; roads; bridges; power – infrastructure generally.
There is nothing thing bad in borrowing, provided the funds are invested in infrastructure, especially when it will create jobs, create an enabling environment for the economy”
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