President Muhammadu Buhari has today justified his government’s borrowing to finance infrastructure.
Buhari who spoke at a meeting with members of the Presidential Economic Advisory Council (PEAC) at the State House, in Abuja, explained that his administration take loans to solve the shortage in infrastructure.
According to him, it is pertinent to fix bad roads and construct new ones in the country to save lives from soaring road accidents.
“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 said after listening to a presentation by PEAC chaired by Prof. Doyin Salami.
According to him, 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 said If not for the borrowings, Nigeria would have been in trouble by now.
He further explained that this is the reason why the importation of food was banned to save jobs and foreign exchange.