Fashola slams Obasanjo over $12bn debt cancellation, says he should have built rails, roads

Fashola slams Obasanjo over $12bn debt cancellation, says he should have built rails, roads

- Ex-president Olusegun Obasanjo has been criticised by Babatunde Fashola for failing to invest in Nigeria's infrastructure

- Fashola accused the Obasanjo-led administration of losing the opportunity to invest $12 billion and the country went back to borrow

- According to the minister, Obasanjo's government decided to pay Nigeria's creditors to the detriment of the country

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Babatunde Fashola, Nigeria's minister of works and housing, has said former president Olusegun Obasanjo should share part of the blame for the country's weak infrastructural base.

Speaking on Channels Television, Fashola Obasanjo should have invested in capital projects across the country, instead of paying off the nation's external debts.

According to the minister, previous governments had access to a lot of money but they did not invest it in infrastructure. He added that if he had the $12 billion like the Olusegun Obasanjo government in 2005, he would have built rails and more roads.

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The minister said:

"At one time in this country, in 2005, we had $12 billion. At that time, these roads were bad. At that time there was no rail. But what did we do as a matter of state policy, it was just to pay creditors to our own detriment.
“I can only imagine if I had the opportunity then with $12 billion in my hand, we would have built rails and roads. What this government is dealing with, which I am responsible for the roadside, is the infrastructure that will be enduring."

Fashola slams Obasanjo over $12bn debt cancellation, says he should have built rails, roads

Fashola said if he had the $12 billion, like the Obasanjo government, he would have built rails and more roads. Photo Credit: Federal Ministry of Works & Housing @FMWHNIG
Source: Twitter

Fashola applauded the "borrowing culture" of the current administration led by President Muhammadu Buhari, saying the government was ‘positioning’ for tomorrow’s children and not mortgaging the future as has been claimed by some.

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Former vice president, Atiku Abubakar, however, shares a different opinion. Legit.ng reported earlier that Atiku boasted about the achievements recorded by the Obasanjo-led administration. l

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In a tweet posted via his official Twitter handle @atiku, on Friday, October 2, Atiku said their administration cleared off Nigeria's entire foreign debt and recorded 6% annual GDP growth.

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Source: Legit

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