President Muhammadu Buhari has justified the decision of the government to borrow to finance its infrastructure.
President Buhari made this known on Tuesday at a meeting with the Presidential Economic Advisory Council (PEAC) members at the State House in Abuja.
He said that his administration take loans to solve the dire shortfall in infrastructure.
Buhari stressed that the country must fix its roads to save lives from soaring road accidents.
“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,’’ he said, following a presentation by PEAC chaired by Ayo Salami.
President Buhari regretted that the failure to provide the infrastructure for effective transportation deprived the country of its well-deserved status as the West African hub for Air cargo transportation and trans-shipment of goods.
“That is why we virtually stopped the importation of food thereby saving jobs and foreign exchange,” the president added.