Minister of Power, Works and Housing, Babatunde Fashola has reacted to criticism suffers by the President Muhammadu Buhari’s government over borrowing funds.
The minister while working with journalists in Ilorin, the Kwara State capital, asked those who are opposed to borrowing to provide alternative sources for funds.
“Those who say we shouldn’t borrow must have an alternative answer to where we will get the money,” he said.
“Those who don’t support borrowing, are they ready to support increased taxes?”
According to the former Lagos state governor, ongoing projects across the country are slow because of lack of funds.
“Where do we get the money,?” he asked.
“It is not from President Muhammadu Buhari’s salary or the National Assembly’s salary; we are talking about quantifiable, substantial billions of naira that need to be spent to pay.
“That is how you move money around the economy because once you pay the contractors, they order sand, cement, iron rods. They don’t keep all those things. Where the money stops, supply stops.”
Fashola however assured Nigerians of the administration’s commitment to improving lives through infrastructural development.