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Buhari’s Loans Are Justifiable – Fashola

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Buhari Leaving Nigeria Better Than When He Took Over - Fashola

The Minister of Works and Housing, Babatunde Fashola, has disclosed the reason why the loans accrued by the  Muhamadu Buhari-led Federal Government Is justifiable.

The minister explained that the effects of the loans could be seen in place of the infrastructural projects all over the country.

Fashola who said this at the 28th National Council of Works meeting holding in Kano revealed that Buhari met N18billion in 2015 appropriated for works, saying the government had to borrow to execute the projects.

He said, “Our first budget [in 2016] was over N250 billion up from the N18 billion we met in 2015, that was an increase of over a thousand percent, even though the price of crude oil was dropping, we did not raise taxes.

“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. And, every time, I ask people who say don’t borrow, I am not suggesting that we should not be concerned about borrowing, but I am also saying who does not need the projects? Let us see the state from any of the 36 states here, is there a project in your own state that you want us to stop, because we will reduce the debt by that number.”

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 is determined to complete all the ongoing projects before the expiration of their tenure in May next year.