By Chinenye Festus:-
Minister of Information and Culture Lai Mohammed during an inspection tour of the Lagos-Ibadan railway project on Saturday said there is nothing bad in borrowing for infrastructure.
“There is nothing bad in borrowing, provided that borrowing is invested in infrastructure, especially when it will create jobs, create an enabling environment for the economy.”
” We didn’t borrow money for services,” he said. “We didn’t borrow money for overhead expenditure. We borrowed money for capital projects – rail, road, bridges, power, general infrastructure.
On what the situation report on the ongoing project, the minister added
“I am very excited,” he said. “When I got into the train this morning, it was as clean and modern as any coach anywhere in the world.
“I was also quite impressed with the passion of the Honourable Minister (of Transportation). You can see that every point in time, he is pushing the contractors, saying ‘look, I can’t wait till October, I will come back in four weeks’ time,’ because we want to be able to deliver this kind of infrastructure to Nigerians.”
The Minister stated that he is deeply impressed with the Lagos-Ibadan rail project which will soon be completed with the way work is going on there.
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