Minister explains why President Tinubu needs to borrow money

To tackle the road infrastructure deficit in Nigeria, the Federal Government has said that it needs N18 trillion.

This was disclosed by the minister of works, David Unahi while defending the 2025 budget before lawmakers of the National Assembly.

Umahi spoke to journalists after his meeting with the lawmakers.

He stated that the annual provisions made available on the 2025 budget for constructions would not be enough to tackle the road infrastructure deficits.

He also stated that this is one of the reasons why Nigeria needs to augment whatever it has available with loans.

“So, when the President, who is an economist, who has gone through all the segments of what we are passing through, by reason of his experiences, and is making efforts to borrow money to do these projects, then the public will be challenging his actions.

“That’s what I have been telling the National Assembly, and we are on the same page now. We have to borrow money to fix the roads,” Umahi said.

Stating that the roads when fixed can serve as paths to economic development of the nation, the minister said it is key to note that the present administration inherited 2,064 road projects.

According to him, these road projects summed up to N13 trillion in 2023 but with the currently reality on the ground, it should now be close to N18 trillion.

Umahi said, “So we need to give attention and encourage Mr. President to borrow money.

“He (President Bola Ahmed Tinubu) cannot manufacture money. He has to be encouraged.

“You say he’s trying to steal your money. That’s very discouraging. So road infrastructure cannot be fixed by mere yearly budgetary allocation,” he added.