Minister of Works, Babatunde Fashola, has come forward to defend President Buhari amid rising criticism over the number of loans taken by his administration throughout his eight-year presidency.
According to Mr Fashola, the president’s harshest critics have been the same individuals who are always clamouring for better infrastructure across the country.
“We want the road and we say Buhari is borrowing too much. The road is funded through Tax Credit Policy. It means the FG has forsaken some revenue for you to have the road,” He said in Akure while flagging off the construction of the 49km Akure-Ado Ekiti highway.
President Buhari, whose presidency ends on Sunday, said on Tuesday that his administration’s substantial borrowings were a “deliberate choice” to assist the country battle poverty and promote economic progress across the federation.
“As we look at the debt profile, I urge us to look at the assets and investment profiles some of which were paid for by debt and some by investment income,” President Buhari said while commissioning some highway and bridge projects.
Mr Fashola also reinforced the position of the president, saying on Thursday that the only real alternative is increased taxation, which may prove too burdensome on the masses.
The Akure-Ado Ekiti highway is expected to cost the federal government in excess of N90 billion. He went on to say that the federal government rejected proposals to carry out remedial repairs on the road, instead opting to upgrade the highway to a two-lane road.
“We will be leaving behind sustainable development. We are still awarding contracts. We are still working,” he said, noting the Buhari administration will continue to award contracts until the last hour of the administration.
