Borrowing for infrastructure development is legitimate, says Fashola

The Minister of Works and Housing, Babatunde Fashola, yesterday, defended that Federal Government’s external borrowing to invest in the development of Nigeria’s infrastructure is legitimate.

Fashola, who spoke during inspection of highway projects in Niger State, explained that having a loan for road construction would create jobs, and help the country achieve a self-sustaining economy.

He also argued that the dualisation of the Suleja-Minna Phase I and II, the reconstruction of Bida-Lapai-Lambata, and the Agaie-Katcha-Barro roads, should be seen as a challenge.

Similarly, the minister noted that people need infrastructure, adding that when they can see that the money borrowed is used to deliver critical road and rail network, their concerns will be assuaged.

He said: “Each of the road projects inspected has the capacity to employ over a thousand workers. This would help the Federal Government’s drive in checking youth unemployment.”

On his part, the Project Manager, Salini Nigeria Limited, Paolo Canpanella, said they are committed to the completion of the road on or before the target date by January 2023.

He also added that the road would ease transportation of agricultural produce, reduce the pressure on existing single-carriage road facilities, reduce travel time, and ultimately reduce vehicle-operating costs.