Nigeria to invest its borrowed funds on infrastructure

Golfa Francis, Abuja

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Nigeria’s Government says it borrowing will be invested in the development of the nation’s infrastructure.

The Minister of Works and Housing, Babatunde Fashola, during his inspection tour of Highway projects in Niger State explained that borrowing invested on infrastructure would create jobs and help the country achieve self- sustaining economy.

“a nation ‘s wealth is measured by its infrastructure. The concern of Nigerians on government borrowing is legitimate, but borrowing should be weighed with the problem they are used to solve”, Fashola said.

The projects the Minister inspected were the dualization of Suleja-Minna Phase I and phase II, the reconstruction of Bida-Lapai-Lambata road, the construction of Agaie-Katcha-Barro road, dualization of Jebba-Mokwa-Bokani road and rehabilitation of New Bussa-Kaiama road.

Each of the road projects inspected has the capacity to employ over a thousand workforce.

Mr Fashola is on the opinion that it would help the Federal Government’s drive in creating jobs for its teaming unemployment youths.

The Project Manager of Salini Nigeria Limited, the company handling the Suleja-Mina dual carriage road, Mr. Paolo Canpanella, said his company has over three hundred staff in their payroll and that they are committed to completing the road on or before the completion date of January 2023.

The dualization of Jebba-Mokwa-Bakani road in Niger State will ease transportation of agricultural produce, reduce the pressure on existing single-carriage road facilities, reduce travel time and ultimately reduce vehicle operating costs.

Ime Njoku

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