- Lai Mohammed is defending the President Muhammadu Buhari-led administration amid concerns of the recent loan request
- According to the minister of information and culture, those ramping up the criticism on borrowing are insincere
- Mohammed on Thursday, September 23, said the current administration had a lot to show for the loans taken
Alhaji Lai Mohammed, Nigeria's minister of information and culture berated those criticising President Muhammadu Buhari’s administration over the loan requests.
According to the minister, the Buhari administration had a lot to show for the loans taken, adding that the government was borrowing to build world class infrastructure that will benefit generations of Nigerians, The Punch added.
Insurgency: Lai Mohammed cries out, says infrastructural destruction in Borno state worse than imagined
He went on to note that it was ironic as those criticising the administration performed badly in terms of modernising Nigeria’s infrastructure.
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Buhari seeks Senate’s approval for fresh loan of $4bn, €710m
Recall that President Buhari sought the approval of the Nigerian Senate for a fresh loan of $4,054,476,863.00, €710 million and a grant of $125 million.
The president in a letter to the Senate president, Ahmad Lawan, explained that the loan sought is to finance critical projects in the 2021 budget.
Buhari's request was read by Lawan, during plenary after the resumption of the upper legislative chamber from its annual vacation on Tuesday, September 14.
Senate president justifies President Buhari’s fresh foreign loan request
In a related development, Senate president Ahmad Lawan, justified Nigeria' rising external debt profile under the President Muhammadu Buhari-led administration.
Senator Lawan made the remark on Wednesday, September 22, after the presentation of the Senate Joint Committee on the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
While dismissing comments by lawmakers over the wave of borrowing, Lawan maintained that nothing could be done to halt the rising external debt profile.
Nigerians Will Feel Full Impact of my Projects Long After 2023, Buhari Says
Meanwhile, President Buhari stated that after he leaves office in 2023, the impact of his project will be felt by Nigerians.
Thee Nigerian leader made this known after inaugurating new board of the Nigeria Sovereign Investment Authority (NSIA) after a brief ceremony held at the State House, Abuja.
Buhari speaking at the event restated his administration’s commitment to implementing long term projects and programmes that create jobs for Nigerians.