Why we resorted to borrowing, by Buhari

By Bolaji Ogundele, Abuja

President Muhammadu Buhari has explained his administration resorted to taking loans to bridge the infrastructure gap.

Buhari gave the explanation on Tuesday during a virtual meeting with members of the Presidential Economic Advisory Council (PEAC).

He said Nigeria must fix its roads to save lives from soaring road accidents.

According to a statement by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, the President said the strategic reason for the borrowings was to provide the infrastructure that would make the country attractive to investors.

“We have so many challenges with infrastructure. We just have to take loans to do roads, rail and power, so that investors will find us attractive and come here to put their money,’’ the President said after listening to a presentation by PEAC chaired by Professor Ayo Salami.

He regretted the failure to provide infrastructure for effective transportation deprived the…

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