Stella Dimoko Minister Of Information Lai Mohammed Says There Is Nothing Bad In Borrowing To Invest In Infrastructure


Advertisement - Mobile In-Article

Sunday, August 16, 2020

Minister Of Information Lai Mohammed Says There Is Nothing Bad In Borrowing To Invest In Infrastructure

Minister of Information, Lai Mohammed, has declared that there is nothing wrong in borrowing.

He said what matters is that funds are invested in infrastructure rather than services or consumption and insisted that Nigeria is effectively utilizing the funds it borrowed from China and elsewhere for infrastructural development and job creation.

Mohammed spoke at the construction site of the Ibadan Train Station on Saturday where he inspected the Lagos-Ibadan Standard Gauge Rail Project with his Transportation counterpart, Rotimi Amaechi.

“We didn’t borrow money for services or overhead expenditure. We borrowed money for capital projects: rail; roads; bridges; power – infrastructure generally,” he said.

He expressed delight at the level of work on the train stations and the modern coaches procured to convey passengers and goods on the Lagos-Ibadan Standard Gauge rail line.

In his remarks, Amaechi said $1.6billion is being expended on the Lagos-Ibadan Standard Gauge rail line and the stations, with $200-$300million counterpart funds from the Federal Government.

Ameachi appealed to the National Assembly to approve the $5.3billion loan request from China and said this would enable the government to execute the Ibadan-Kano Standard Gauge rail line.

The Buhari administration is facing criticism over the China loans.

from dailypost


  1. Stella I beg borrow me sense o!!!

  2. Who is he telling? Of course there is nothing wrong in borrowing to invest in infrastructure however, when you borrow and we already know The money isn’t going into the economy from your culture of embezzlement, everything is wrong. As of now, the acting head of the agency who should give Nigerians confidence of prosecuting embezzlers is himself enmeshed in an embezzlement case. Layo o Mr Lai. Posterity, may it be just.

  3. Not when they are borrowing for their own pockets.

    1. They have mortgaged the future of next generation

    2. Jerusalem, I have given up on our leaders. I pray things turn around for our nation, no matter how long it takes.

  4. Infrastructure that one is not seeing the loan worth.

  5. There is everything wrong in borrowing without clear plans of how to repay existing loan or new ones.
    NIGERIA GIVT should start by implementing what Ngozi okonjo Iweala adviced them to do : cut down Govt allowances and free monies, make the office less enticing, human resources, agriculture, etc.
    Nigeria is doomed if they don't make futuristic strategic plans.

  6. See his mouth. Bunch of selfish leaders. Borrow borrow kee you there

  7. borrowing aint the problem, what do you do with the borrowed funds? that is naijas problem

  8. Except that you are borrowing to steal, not build anything! Those you refer to as Indians and Chinese “engineers”, they are technicians and Nigerian college grads can be trained by Engineers of Nigerian descent here with the IJGB in months to fix our electricity and roads among other things if you will guarantee their safety! That way there will be jobs for their friends and fellow Millenials and Gen Z in Nigeria and no psychological need for IJGB to act like 4 to 7 years abroad makes you a foreigner in Nigeria, while not telling the truth that you back because you couldn’t become legal immigrants where you schooled!


Disclaimer: Comments And Opinions On Any Part Of This Website Are Opinions Of The Blog Commenters Or Anonymous Persons And They Do Not Represent The Opinion Of

Pictures and culled stories posted on this site are given credit and if a story is yours but credited to the wrong source,Please contact and corrections will be made..

If you have a complaint or a story,Please Contact Via
Mobile Phone +4915210724141