Buhari Media Organisation justifies Buhari’s 29.9 billion dollars external borrowing request


The Buhari Media Organisation (BMO) says President Muhammadu Buhari’s 29.9 billion dollars external borrowing request to National Assembly for approval was in the interest of the country.

Recall that Buhari last week sought the re-consideration and approval of the National Assembly on the 2016-2018 External Borrowing Plan of the Federal Government.

In a statement signed by its Chairman, Niyi Akinsiju, in Abuja, BMO said the funds were necessary in order for the country to bridge the infrastructure gaps that were left unattended to by previous administrations in the country.

Akinsiju said if the requests had been fully granted in 2016, Nigerians would have seen more projects at various stages of completion across the country.

These, he said, included the federal government’s emergency projects for the North East and the Lagos-Ibadan segment of the China Exim Bank railway modernization project which were at advanced stages of completion.

According to him, power generation and transmission were also at a higher stage than what the administration met in 2015.

He urged Nigerians critical of the President’s move to have a more positive outlook.