What the Buhari’s Administration Has Borrowed For? A Pro-Buhari Explains

President Muhammadu Buhari Projects Borrowed Money

A Pro-Buhari in his recent has defended President Muhammad Buhari on the borrowed fund. He said though as many critics would say, Buhari has borrowed more in few years than other presidents. He said the fund borrowed has been utilized for a better Nigeria.

The analysis is as followed;

1) Ibadan-Kaduna rail project is $6.7bn (N2.4trn).

2) Mambila Hydro Power Plant is $5.3bn (N1.9trn), to generate over 3000MW.

3) Lagos -Ibadan railway project is $1.5bn (N0.54trn).

4) Kaduna-Kano railway project is $900m (N0.324trn).

5) Lagos-Calabar coastal railway project gulps $11bn (N3.96trn).

The above five projects cost a total sum of (N9.124trn).

There are other railway projects that are either ongoing, contractual or on reconnaissance survey stages across the country that involve trillions of naira. Examples are like the Abuja-Itakpe, Itakpe-Ajaokuta-Warri, Port Harcourt-Aba-Umuahia-Enugu-Makurdi-Jos-Bauchi-Damaturu-Maiduguri railway, tagged EASTERN CORRIDOR.

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Meanwhile, the APC government has spent trillions in the power sector to improve supply from 3000MW they met to 7000MW. It is good to know that power transmission sub-sector is 100% owned by the government and the APC has done direct investment in it across the country more than any other government since 1960.

Furthermore, the APC has equally spent trillions of naira on roads across the country apart from the N1.7trn debts on roads alone inherited from the PDP government, owed contractors.

Apart from these hundreds of road projects which include bridges; water and agricultural projects are been carried out which include the six billion nairas (N6bn) Otuoke Water Scheme commissioned last year.

Dino Melaye said PDP borrowed N6trn in 16 years but APC borrowed N16trn in three (3) years.

While I will not argue with a nonentity that used eight (8) years to obtained B.Sc (Geography) for the unauthentic figures. It is better to bring to public notice in form of an information to Nigerians who don’t know, and as a reminder to those that know already about the ongoing projects across the country that APC borrowed money to executes.

Dino Melaye should tell us what PDP that borrowed N6trn but earned $500bn in 16 years did with the money.



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