The minister of information, Lai Mohammed, says there is nothing wrong in borrowing.
He said it’s good to borrow provided the funds are invested in infrastructure rather than services or consumption.
The minister said this while speaking with journalists after he and Rotimi Amaechi, minister of transportation, inspected Lagos-Ibadan rail line.
Mohammed said the government does not borrow money for overhead but for capital projects.
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.
Rather than arguing with critics, we opted to allow you (journalists) – the ears and eyes of Nigerians – to come and see for yourselves what we are doing with the money we are borrowing.
We didn’t borrow money for services or overhead expenditure. We borrowed money for capital projects: rail; roads; bridges; power – infrastructure generally