Fashola justifies debt incurred by Buhari’s government

The Minister of Works and Housing, Babatunde Fashola, on Thursday justified the huge foreign debts Nigeria has incurred under President Muhammadu Buhari’s administration.

According to Fashola, the infrastructural projects across the country justify the foreign debts by the present administration.

Noting that the Buhari-led government met N18 billion in 2015 appropriated for works, the minister said the government had to borrow to execute the projects.

He spoke at the opening ceremony of the 28th National Council of Works meeting taking place in Kano.

Fashola 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 asked the states’ commissioners of works in attendance.

He further said that 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.