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This Is What We Use The Money We Borrowed To Do - Lai Mohammed Told Journalists

Lai Mohammed reveals how borrowed money is spent
Chinese Loan should be approved to facilitate the ongoing infrastructure - Chibuike Amaechi.

The Minister of Information and Culture, Alhaji Lai Mohammed attested today in a press release, by his special assistant on media, Segun Adeyemi, that Nigeria is effectively utilizing the funds it

borrowed from China and elsewhere for infrastructural development to create jobs and provide the basis for economic development.

According to the Minister, during his live inspection at the construction site of the Ibadan Train Station on Saturday, 15th Aug. 2020, after a joint inspection of the Lagos-Ibadan Standard Gauge Rail Project with his Transportation Counterpart, Chibuike Amaechi.

"There is no better way to answer Nigerians as to what we have done with the money we have borrowed than this.

"On this trip, you have seen first hand the stations being constructed, the rail lines and the people who are working on the projects.

“Rather than arguing with critics, we opted to allow you (journalists) - the ears and eyes of Nigerians - to come and see for yourselves what we are doing with the money we are borrowing,” he said this to over 40 Journalists present at the inspection.

The Minister argued that borrowing money itself is not totally bad, rather the utilization.

“We didn’t borrow money for services or overhead expenditure. We borrowed money for capital projects: rail; roads; bridges; power - infrastructure generally,” he said.

He further stated that the tour of the Lagos-Ibadan Standard Gauge Rail Project is the first in a series of inspections the administration is embarking upon to showcase to Nigerians the status of work on the projects the government is executing with the money it has borrowed.

The  Minister has 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.

Meanwhile, the honorable Minister of Transportation, Hon. Chubuike Amaechi, said $1.6 billion is being expended on the Lagos-Ibadan Standard Gauge rail line and the stations, with $200-$300 million counterpart funds from the Nigerian Government.

He appealed to the National Assembly to approve the $5.3 billion loan request from China to enable the government to execute the Ibadan-Kano Standard Gauge rail line.

The gigantic Ebute Meta Railway Station Building and yard construction work; Apapa Railway Station; Dockyard Station as well as Agege; Kajola; Papalanto; Abeokuta and Ibadan Train Stations, which are at various stages of completion were all inspected by the Ministers and the Journalists present.

Report by Segun Adeyemi, Special Assistant To The Honorable Minister of Information and Culture.

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