Why President Buhari Administration Will Continue To Take Foreign Loans

    President Buhari Administration
    President Buhari Administration



    Senator Lawan spoke at the weekend in Lagos on the occasion of the fifth edition of the empowerment programme of Senator representing Lagos West Senatorial District, Solomon Olamilekan Adeola.

    The main opposition party, the Peoples Democratic Party has consistently accused the All Progressives Congress-led federal government of depleting the nation external reserve and undermining economic growth through rising external borrowing.

    The Senator representing Yobe North, however, maintained that the present administration would continue to borrow to improve on the social Infrastructures in the country which he said were neglected under 16 years of PDP administration.

    He said: “PDP may tell you something funny about the administration of APC at the national level but PDP ruled Nigeria for 16 years and all that they did was to leave or bequeathe so many challenges to us in 2015.

    “We are dealing with those challenges one after the other and if on the way, we encounter new challenges, we are equal to the task.

    “By the Grace of God we are going to turn around the fortunes of this country for the better. We have done so much but we are also challenged especially in the area of security.

    “When someone tells you that the APC administration only takes loans or borrow money, PDP had 16 years of so much resources and they did very little infrastructure in the country if any. The money disappeared and our options are limited.

    “But one option that is not on the table at all is not to do anything. Because you don’t have money, so we shouldn’t develop your country? Nigeria’s administration at the national level is responsible and responsive.

    “We wouldn’t like to take loans or borrow money but when the options are limited and the imperative of development of infrastructure in the country are there, what do we do?

    “If we have to borrow, we have to borrow responsibly, targeted at capital development and today I want to say without any fear of contradiction that in every part of this country, there is infrastructural development either in terms of roads, bridges, dams and so on and so forth.

    “This is to tell you that we desire to develop our country and that for APC at all levels deserves the trust of Nigerians because we will always tell Nigerians what it is. We won’t hide anything because you gave us your trust.


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    “What you witness in Lagos is to tell you one of the best the APC can do and we have many APC states that are working so hard to develop those states.

    “I want to assure Nigerians that APC as a political party is the one that you can trust because for us, the citizens of this country are the most essential elements and people that we must always focus on.”

    Lawan who said he was impressed with the performance of Lagos State governor, Babatunde Sanwo-Olu, urged Lagos electorate to give the latter a fresh mandate in the forthcoming general elections.

    “Your Excellency, we have been watching you over the last two and half years. You have been very wonderful. You have been consistent in terms of service delivery to the people of Lagos State and indeed this country.

    “You are focused. You are reliable. And I want to say even though the fate of politicians is in the hands of voters, your fate is in the hands of Lagosians but Your Excellency, I’m under this tremendous and massive temptation to say that one good turn deserves another term. We are proud of you. APC stakeholders, I hope I will be forgiven for this statement because that is what believe in seriously.”

    Why Buhari administration will continue to take foreign loans ― Senate President

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