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Federal government says it is using loan to build lasting projects


– The federal government has said it has put to good use the loans it took to construct lasting infrastructural projects across the country

– The minister of information, Lai Mohammed made the statement on Thursday, August 27, after inspecting a project

– Mohammed stated that the projects being constructed will last more than the span of the loans

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The federal government has said it has put to good use the loans it has taken to construct long-lasting infrastructural projects across the country.

The minister of information, Lai Mohammed made the statement on Thursday, August 27, after inspecting the level of work done on Loko-Oweto Bridge, connecting the northern and southern parts of the country.

FG says it making good use of loans

Lai Mohammed has given Nigerians an on about how the federal government is spending loans it secured. Photo credits: Guardian
Source: Twitter

According to the Daily Trust, the inspection was done by the minister of works and housing, Babatunde Fashola, the minister of special duties and inter-governmental affairs, George Akume and the minister of information.

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Mohammed told journalists that the projects across the country show that the government is making very judicious use of these loans.

The minister stated that the projects will last more than the span of the loans.

While these loans may have the lifespan of 20, 15 years, the roads we are constructing will have the lifespan of 50, 60 years and it will outlive many of us,” he said.

Meanwhile, the Federal Executive Council (FEC) has approved projects worth a total of N109,187,264,000 for the Ministry of Works and Housing and the Ministry of Education.

The Nation reports that the projects were approved during the FEC meeting held on Wednesday, July 8.

Legit.ng gathers that meeting was presided over by President Muhammadu Buhari. The meeting saw two ministers, Babatunde Fashola and Adamu Adamu present three memoranda; two from Fashola and one from Adamu.

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In another news, the personal assistant to the Nigerian president on new media, Bashir Ahmad, has suggested that the Second Niger Bridge when completed could serve as one of the lofty achievements of President Muhammadu Buhari’s administration.

Ahmad in a tweet on Sunday, May 17, stated that the Second Niger Bridge after its completion will be a gift that will keep the Buhari’s administration in the minds of Nigerians for a long time.

His comments, however, drew some criticisms from some Nigerians who faulted his narrative on the grounds that the money used for the project was paid by taxpayers.

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