FG Loans are in order – Lai

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The Minister of Information and Culture, Alhaji Lai Mohammed has said funds borrowed by the federal government so far are justifiable as they are being used to develop critical infrastructure.

He said this when he and Minister of transportation, Rotimi Amaechi went on inspection of railway project from Lagos to Ibadan.

They were accompanied by the officials of the Nigeria Railway Corporation (NRC), the contractor handling the project, China Civil Engineering Construction Corporation and some journalists.

“There is no better way to answer Nigerians as to what we have done with the money we borrowed, than this project we have inspected. This is one of the many projects that we are doing with the money we have borrowed.

“There is nothing bad in borrowing provided that such borrowing is invested in infrastructure. There is also nothing bad in borrowing provided the funds are used to create jobs and create the enabling environment for the growth of the economy.”

Mohammed said he was excited with the extent of work done on the project and the clean coaches which he said is comparable to modern trains in any part of the world. He was also exited that Nigerians showed enthusiasm about the project.

Commenting, Amaechi appealed to the National Assembly to stop the ongoing probe on the loans to ensure completion of the projects on time.

“Why we are telling them to stop the probe is that, they are not investigating corruption in the construction project itself but the issue of loan that we accessed.

“They should allow us to get the loan for the Ibadan to Kano rail project which is about 5.3 billion dollar.”

Amaechi assured that funds for the completion of the project was not a problem as there was the sum of 1.6 billion dollars on ground.

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