The Minister of Works and Housing, Babatunde Fashola, has said that the Federal Government’s resort to loans is to expand infrastructure in the country.
Fashola, who spoke in Abuja at NAN Forum, the flagship interview programme of the News Agency of Nigeria, said that the country would not make meaningful progress without taking loans to boost infrastructure.
He said the borrowings are in the interest of the country as they are spent on investment because the sector contributes to the Gross Domestic Products and contributes to employment.
Fashola said he does not believe in recklessness stressing that loans obtained by the Federal government are invested in assets that can improve the socio-economic status of the country.
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