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Buhari: Nigeria Needs Loans For Roads, Rail, Power - Politics - Nairaland

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Buhari: Nigeria Needs Loans For Roads, Rail, Power by iwaeda: 10:21pm On Sep 15
The President, Major General Muhammadu Buhari (retd.), on Tuesday, justified the nation’s debt profile, saying his regime needed to borrow to fund critical infrastructure like roads, rail, and power.

According to a statement titled “President Buhari justifies borrowing to fund infrastructure,” by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President spoke at a virtual meeting he had with members of the Presidential Economic Advisory Council from the Presidential Vila, Abuja.

Buhari spoke at a time stakeholders are expressing concerns over the nation’s rising debt profile and accusing the government of mortgaging the country’s future.

But the President said his regime needed to take loans to address the deficit in the nation’s infrastructure.

He said it was only by doing so that the county could be 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,’’ Shehu quoted the President as saying after listening to a presentation by PEAC chaired by Prof Ayo Salami.


Buhari was also said to have regretted that failure to provide 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.

On the economy, the President noted the challenges posed by the “collapse of the oil market” and the decision of the government to abide by the reduced oil production quota allocated by the Organisation of the Petroleum Exporting Countries.

He said, “We have to accept that decision; otherwise they (Middle-East producers) can flood the market and make the product unviable.


“So we have cooperated with what we get. With oil, we are in a difficult situation. The politics of oil is that the less you produce, the less you earn.”

Shehu said Salami had, earlier in his presentation, highlighted the council’s recommendations on poverty reduction and stimulation of non-debt investment inflows, as promised at their last meeting.

The statement added, “The council recommended steps for the effective implementation of government’s plan to lift 100 million Nigerians out of poverty, as well as measures to curb poverty disparity in Nigeria.


“The council promised to set out a full policy paper that would, in the first instance, stop more Nigerians from falling into poverty and thereafter, further plans on reducing the poverty headcount in the country.

“The PEAC also outlined a number of measures aimed at aggressively increasing the country’s non-debt investment inflow, including measures to improve investor perception of the country and the proposed establishment of a $5bn – $10 bn investment and growth fund to invest in.


“The PEAC used the opportunity of the meeting to express support and solidarity with the administration on its recent policies.

“It listed the implementation of reforms encapsulated in the Companies and Allied Matters Act 2020 recently signed into law, the reforms in the energy sector, bringing electricity and fuel prices in line with the market, and the decision of the Central Bank of Nigeria to merge the exchange rate of the naira versus other foreign currencies.”
https://punchng.com/nigeria-needs-loans-for-roads-rail-power-buhari/

6 Likes 2 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by BruncleZuma: 4:32am On Sep 16
grin grin grin grin



Vote for me I have the solution to all Nigeria's problems that I and my fellow military goons created and could not solve in 50 years...trust me, I'm trustworthy ~ Buhari (Maybe)

This Old man had 16 years to put his plans in order on his road to the presidency and still sounds like he's just discovering Nigeria's humongous issues.

318 Likes 24 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by jy2kbeyond(m): 4:32am On Sep 16
undecided undecided undecided undecided undecided undecided undecided

The Nigerian government is broke and these old politicians will kill themselves to get to the helm of affairs.

Guys, isn't that the joke of the year?

119 Likes 6 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by KingAzubuike(f): 4:33am On Sep 16
It's 4:33 AM, while some are still sleeping, shout out to those who are ready up by this time to get to their respective place of work and place of hustle just to make ends meet.

265 Likes 12 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by SQUEEZER95(m): 4:33am On Sep 16
pls stop borrowing... we no want d road again

123 Likes 4 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by virus05(m): 4:34am On Sep 16
Be like Abacha still dey learn work?

88 Likes 3 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by Angeltoyo(f): 4:34am On Sep 16
shocked

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Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by saucespecies: 4:35am On Sep 16
Nigerian need loans to feed our greedy politicians.

105 Likes 7 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by GboyegaD(m): 4:35am On Sep 16
We have been spending money on this sectors, what do we have to show for it? This government has borrowed enough already.

40 Likes

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by horpeyemmi66(m): 4:35am On Sep 16
This guy's brain don dry walai...the idiot never reduced his salary and emoluments, same for other thieves in high places.

That he is still looking to go borrow at the detriment of the masses is very worrying.

God help me, I collect my degree in Dental Surgery, goodbye to Naija, Patriotism can kiss my black ass! undecided

68 Likes 2 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by yeyeboi(m): 4:37am On Sep 16
With all the suffer this government have put us through shocked shocked



Na GOD go punish una

14 Likes 1 Share

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by Toboye(m): 4:37am On Sep 16
Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by chidi2pus(m): 4:37am On Sep 16
Like it or not, we're all going to pay for these loans via taxes and treacherous inflation which is reduction in buying power.
This problem stems from past administration as well. The inefficiency and mismanagement of borrowed funds is one undefeated hydra in Nigeria.
How can you attract foreign investors when you can't encourage local production and distribution of goods and services across the country?

I wanted to list the common problems the average business owner faces in Nigeria but I'm too exhausted for the long list.

42 Likes 4 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by jerseyboy: 4:37am On Sep 16
Buhari, shut up. Nigeria is DEAD.

"Crumbling edifice that is still generously called Nigeria." Wole Soyinka

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Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by onanapower(m): 4:37am On Sep 16
I only see Buhari as a punishment sent to us for insulting GEJ


Nothing more!

But God we have learnt our mistakes nah �

68 Likes 5 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by wonuks(m): 4:38am On Sep 16
Chai. Buhari is working ooo cheesy!!!
Blame GEJ for this
Blame OBJ for this
Blame NOI
Blame Reno
Blame Yaradua
Who else again
Blame Boko Haram

Who else to blame oo. Add your own here

EdiskyHarry:

Blame naira Marley
Blame bobrisky
And blame the world.

49 Likes 2 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by agabusta: 4:39am On Sep 16
Naija is not a rich country. People should stop deceiving themselves otherwise.

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Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by Gboyeboy(m): 4:39am On Sep 16
Just put the country up for sale on eBay.

15 Likes 1 Share

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by Nikeruka(m): 4:39am On Sep 16
Okay
Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by Peacemaker5129(f): 4:39am On Sep 16
Thank you Baba Buhari
5%ters will never like your good policies

3 Likes 1 Share

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by jogsman01(m): 4:41am On Sep 16
Abi the looting coffers are running dry....

3 Likes

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by 2020Experience(m): 4:42am On Sep 16
Which kind wahala be this for this country...

3 Likes

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by AGNESikpuNNU(f): 4:42am On Sep 16
angryGod we no do this man anything and this man said that we are lazy and continue to suffer us. God let this man and his family suffer for 600yrs.

45 Likes 2 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by Trust034: 4:42am On Sep 16
angry
Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by abayomi27(m): 4:42am On Sep 16
Truly those projects needs money to be executed. But why not sell the country instead so you could have enough to squander. A president serving as a punishment.

17 Likes 1 Share

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by dukeprince50: 4:43am On Sep 16
As long as we are borrowing for infrastructure, its not bad but how come we now borrow for everything?
paying of salaries, roads, rails, almost everything.
And these heartless politicians knew we don't have anything, yet they will still steal.

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Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by IlovePMB: 4:43am On Sep 16
Mad man

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Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by dukeprince50: 4:43am On Sep 16
PMB= P resident M oney B orrower. very annoying president
onanapower:
I only see Buhari as a punishment sent to us for insulting GEJ


Nothing more!

But God we have learnt our mistakes nah �
Goodluck is as bad as Buhari, he was just fortunate that during his administration, price of oil was high, yet he didn't do anything except build school for northerners, even that shaky bridge leading to his state from Rivers state was not even touched.
Goodluck is as bad as Buhari, if not worse.
Before any body quote me, At least Buhari is doing something for his own state, what has Goodluck done for the good people of Bayelsa, what of Rivers, Delta, cross Rivers etc. except making militants Rich, there was no reason for a south south man to like Goodluck, but we just love him cos he is our brother...Rubbish
He was busy doing heaven and earth for north and neglect his people cos he knew we are stupid and will always vote him irrespective of what he did to us.
Mcreloaded:


And so what should we do with this your rant?

Untill people like you and this government stop playing the blame game then this country and it's leaders will remain useless.

see them, political apologists, always available to defend their favourite thief. What part of my post did I support this govt or blame GEJ for what's happening to us? I only said GEJ doesn't deserve any love for his brothers after treating us like second class citizens.

37 Likes 8 Shares

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by Ategberoson(m): 4:43am On Sep 16
you're intentionally mad sir



so seeking loan for rail, road and power, what economic value is it going to add to Nigeria development and progress


are we seeking loan to crawl with the developing nations because as far as I'm concern Nigeria is an underdeveloped nation to me, I can't be deceived with any political undertone


that said, which capital project does Abacha loot recovery take care for the past 5years you were foolishly elected by some world class imbeciles? oh I guess that's what's used to grant your kinsmen (BH) Amnesty?


money to equipped and rehabilitate terrorist is always in abundant but the one for capital projects can only be handle with China loan?


by the end of 2023, the next president no matter the party he emerged from will curse Buhari forever, Buhari is a fraudster, a mismanaged administrator, too wasteful, setting misplaced priorities above priority. this mallam deserved to face firing squad at the end of his tenure for the mess he had put this country and the one he will still put them in next 3 remaining years

38 Likes 1 Share

Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by piroskey94(m): 4:44am On Sep 16
Is this a fvking joke? Mehn the ripple effects of all these nonsense from the present administration that will continue in years to come will not be funny ooo. These ppl will end up selling us like okrika in this country

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Re: Buhari: Nigeria Needs Loans For Roads, Rail, Power by Ategberoson(m): 4:44am On Sep 16
onanapower:
I only see Buhari as a punishment sent to us for insulting GEJ


Nothing more!

But God we have learnt our mistakes nah �


you're most wicked than these two Godforsaken leaders, with the height of your sycophancy you've reach, I doubt if there is going to be remedy to Nigeria progress because your likes are many


all this Gej the bad is still better than Buhari crabs disgust all sane Nigerians, you people should levelled up and upgrade your common sense

7 Likes 1 Share

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