China loans: Nothing bad in borrowing – Lai Mohammed
He said what matters is that funds are invested in infrastructure rather than services or consumption.
The minister insisted that Nigeria is effectively utilizing the funds it borrowed from China and elsewhere for infrastructural development and job creation.He inspected the Lagos-Ibadan Standard Gauge Rail Project with his Transportation counterpart, Rotimi Amaechi. “We didn’t borrow money for services or overhead expenditure. We borrowed money for capital projects: rail; roads; bridges; power – infrastructure generally,” he said.
Mohammed expressed delight at the level of work on the train stations and the modern coaches procured to convey passengers and goods on the Lagos-Ibadan Standard Gauge rail line.
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