Every time the government says it wants to borrow, Nigerians hit the panic button. Who wouldn’t panic? Years of corruption & misrule has led us to mistrust EVERY government move. However, I argue that if there is any time for Nigeria to borrow, it is NOW.
The Buhari & Osinbajo government has shown probity in its management of our scarce resources. We have invested more in infrastructure with little resources, than any government since 1999.
Rail, Power & Road Projects are ongoing across country, despite our lean purse.
We need to maintain momentum through consistent funding.
Lag-Ib-Kan & Warri-Itakpe-ABJ rail are ongoing. Soon, Lag-Calabar & PHC-Maiduguri rail will start.
If we don’t start & complete them now, we may NEVER do.
Government can meet a shortfall by borrowing, rather than cut back on spending.
What are our options?
- Increase taxes: this could potentially scare investors, & put small companies out of business.
- Decrease expenditure: this would mean we’ll stall our ongoing rail revolution, as well as the progress we’ve made in road & power infrastructure.
Borrowing will help us upscale infrastructure.
Our problems of poverty & need are really problems of physical infrastructure: not enough hospitals, too few schools, insufficient roads, rails, & a lack of power.
Speed is important, & a paucity of funds will slow us down.
If borrowing will boost power generation & distribution, complete ongoing rail, road & airport projects, & increase Social Intervention Funds, etc., let’s do it!
Better to borrow for projects, than fill a few pockets with our commonwealth.
Road projects are ongoing: Bodo-Bonny, Enugu-Onitsha, 2nd Niger Bridge, & Loko-Oweto Bridge. Lag-Ibadan Exp. is so smooth, I actually ate my takeaway meal with soft drink in motion & it didn’t spill😀. Kad-Kano is ongoing, Abj-Keffi too. We need to maintain momentum. If we start, we must finish!
Ops, almost forgot the apapa oshodi ten lane concrete road!! The 2nd Niger Bridge, Enugu-Onitsha Expressway, Akanu Ibiam Airport.