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China loan: There’s nothing bad in borrowing — Lai Mohammed


As Nigerians continue to express concern over the federal government’s new request for infrastructure loan from China, the Minister of Information and Culture, Alhaji Lai Mohammed, has said the money is being put to good use and at such, there’s no cause for alarm.

Speaking on Saturday, during the inspection of the Lagos-Ibadan standard gauge with the Minister of Transportation, Mr. Rotimi Amaechi, the minister said there is nothing wrong in borrowing as long as the loan was invested well.

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

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.

We didn’t borrow money for services or overhead expenditure. We borrowed money for capital projects: rail; roads; bridges; power – infrastructure generally.

There is nothing bad in borrowing if that borrowing is going to create jobs and create an enabling environment for the environment,” he said.

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