By Deborah Mustapha
In a bid to checkmate Nigeria’s debts, the Minister of Information and Culture, Alhaji Lai Mohammed, has said that it’s not bad for Nigeria to keep borrowing from China and other countries.
Following the reports, Lai Mohammed defended his statement, added that provided the borrowed money is invested in infrastructure rather than for services or consumption.
Lai Mohammed made the statement recently during his visitation to Lagos-Ibadan rail line with the Minister of Transportation, Rotimi Amaechi.
“There is no better way to answer Nigerians regarding how we spent the borrowed money.
“We borrowed money for capital projects and not for overhead expenses”, he explained.
Speaking further, he said on the Railway line construction, work is ongoing.
“That was why we called the Journalists, the ears and eyes of the country to come and see themselves what we did with the money we borrowed”, he submitted.
Toeing in line of his thoughts, Rotimi Amaechi added that not less than $1.6billion has been spent so far on the Lagos-Ibadan rail line and it station.
He thereby pleaded the National Assembly to approve the $5.3billion Chinese loan for the execution of the Ibadan-Kano rail line.