President Bola Tinubu has said that the borrowing envisaged in the 2025 budget was targeted at providing critical infrastructure.
The President, in his maiden Presidential Media Chat on Monday, said that the country had a serious infrastructure shortage.
He said: “We have to put money on long-term matching projects.
“We don’t have the short-term funds to manage long-term projects.
“It’s a mismatch.
“That’s why we have headed down the wrong road in the past.
“I want to think about prosperity.
“I want to think about tomorrow, today.”
Tinubu said the borrowing was meant to address capital projects such as roads, which were terrible.
He added: “Our internet is not up to the level that we want as a technology-driven nation.
“We are still deficient in power generation.
“We need a very strong push.
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“It’s like a pregnant woman.
“New expectations and new contractions and labour pains.
“You go through it, the baby is born, you are happy.
“If that baby is alive, you have joy.
“And that is what we are working on.
:It’s not just because we want to inflict pain on anybody.”
The President said his administration shared the same value with Nigerians, adding: “We want this country to grow.
“There is no other way out of it.
“We must invest in our prosperity today.”
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