4bn, €710m Loans: Real Reason Buhari Govt Is Borrowing, Says Minister - The Source

ADVERTISEMENT
  • Landing Page
  • Shop
  • Contact
  • Buy JNews
  • Login
The Source
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament
No Result
View All Result
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament
No Result
View All Result
The Source
No Result
View All Result
Home News

4bn, €710m Loans: Real Reason Buhari Govt Is Borrowing, Says Minister

The Source by The Source
September 23, 2021
in News
0
Buhari Asks National Assembly To Approve Another  N4.6 Trillion Loan
0
SHARES
12
VIEWS
Share on Facebookshare on whatsappShare on Twitter

Minister of Information and Culture, Lai Mohammed, has insisted that the present administration under President Muhammadu Buhari is borrowing to build world-class infrastructure that will benefit generations of Nigerians.

The minister spoke in Borno State on Thursday at a town hall meeting with Prof. Babagana Zulum and stakeholders.

Mohammed explained that the Buhari administration is not borrowing for recurrent expenditure or to pay salaries.

DAILY POST recalls that Buhari had a few days ago written to the National Assembly to approve another $4 billion and €710 million external loans.

The president’s request was contained in a letter addressed to Senate President Ahmad Lawan and read at plenary yesterday.

Buhari said the proposed loan would be financed through sovereign loans from the World Bank, French Development Agency, EXIM Bank and IFAD.

Buhari noted that the loan, if approved, would enable the Federal Government to fund critical infrastructural projects in different sectors across the country.

Mohammed said, “Naysayers have recently ramped up their criticism of the Buhari Administration for borrowing. These critics are insincere. We are not borrowing for recurrent expenditure or to pay salaries. We are borrowing to build world class infrastructure that will benefit generations of Nigerians. And we have a lot to show for the loans we have taken.

“Today, the standard-gauge rail lines between Lagos and Ibadan as well as Abuja and Kaduna are running well. Today, we have new airport terminals in Abuja, Kano, Lagos and Port Harcourt. Today,the Itakpe-Warri rail line that was abandoned for decades is running.

“Today, we have well over 13,000km of federal roads under repair, rehabilitation and reconstruction. There is a road project in every state, Today, we have started the countdown to when the 2nd Niger Bridge, which successive administrations have built only on paper, will be completed. The list of projects we are handling with the loans we obtained is long.”

Daily post

Be the first to read it our next BREAKING NEWS, POLITICS, METRO. Click here to join our WhatsApp group

Tags: Buhari govtLai Mohammed
Previous Post

Central Bank Sets To Roll Out E-naira

Next Post

FG Set To File Fresh Charges Against Sunday Igboho

The Source

The Source

Related Posts

Defence Academy Attack: Bandits Demand N200m Ransom For Abducted Officers
News

Bandit Leader Babaro Seizes Kankara, Bans Farming, Kills Dozens

by The Source
June 26, 2025
NYCN Exonerates Osun Govt over Alleged Tempering of Youth CONFAB List
News

NYCN Exonerates Osun Govt over Alleged Tempering of Youth CONFAB List

by The Source
June 26, 2025
EHOAN Congratulate Gov Sanwo-Olu on Birthday
News

EHOAN Congratulate Gov Sanwo-Olu on Birthday

by The Source
June 25, 2025
APC and PDP flags
News

Afenifere Seeks FG’s Intervention In Osun LG Crisis

by The Source
June 25, 2025
INEC Under Fire For Giving Certificate Of Return To ‘Wrong Person’ In Ogun
News

Purported Non-Registration Of ADA Fake News – INEC

by The Source
June 25, 2025
Next Post
FG Set To File Fresh Charges Against Sunday Igboho

FG Set To File Fresh Charges Against Sunday Igboho

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Africa News
  • Business
  • Celebrities
  • Crime
  • Economics
  • Education
  • Entertainment
  • Health
  • HumanAngle
  • News
  • Opinions
  • Parliament
  • Politics
  • Religion
  • Sports
  • Uncategorized
  • World
  • World News

Browse by Tags

Abuja Adeleke APC Aregbesola Atiku Bandits Buhari CBN Chelsea Court Davido EFCC EndSARS FG FIRS Governor Governor Adeleke IGP INEC Kaduna Lagos Muslims Naira Nigeria Nigerian Nigerians NUJ Ondo Ooni Osinbajo Osogbo Osun Osun 2022 Osun govt Osun Poly Osun State Oyetola PDP Police SDP Senate Students Tinubu Tunde Odesola US

Categories

  • Africa News
  • Business
  • Celebrities
  • Crime
  • Economics
  • Education
  • Entertainment
  • Health
  • HumanAngle
  • News
  • Opinions
  • Parliament
  • Politics
  • Religion
  • Sports
  • Uncategorized
  • World
  • World News

Browse by Tag

Abuja Adeleke APC Aregbesola Atiku Bandits Buhari CBN Chelsea Court Davido EFCC EndSARS FG FIRS Governor Governor Adeleke IGP INEC Kaduna Lagos Muslims Naira Nigeria Nigerian Nigerians NUJ Ondo Ooni Osinbajo Osogbo Osun Osun 2022 Osun govt Osun Poly Osun State Oyetola PDP Police SDP Senate Students Tinubu Tunde Odesola US

Recent Posts

  • NYSC Organises Medical Outreach for Osun Community
  • The Crucial Role of Environmental Health Officers in Abattoir Management and Sanitation
  • Police Arrest Four With Branded NANS Branded vehicle in Osun, Others

© 2022 The Source Nigeria.

No Result
View All Result
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament

© 2022 The Source Nigeria.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In