Business
‘Those who never run a successful business moaning over our borrowing’
Minister of Works and Housing has dismissed those raising concerns over the country’s rising debt profile as “backyard experts” who have never run a “successful business.”
The former Lagos State governor Minister who spoke while delivering his keynote address at the Lagos Business School on how government policy affects business and society in national development, said the President Muhammadu Buhari government has invested heavily in infrastructural development.
“The government is constructing roads in every state of Nigeria and while revenues are a challenge to prompt completion,” he said.
“Some ‘experts’ who have not successfully shown they can run a small business moan the loudest about Nigeria’s borrowing to fund infrastructure investment.
“A Nigerian, has borrowed billions of dollars to build a refinery, petrochemical plant, fertiliser plant and gas processing plant, yet some backyard economists complain that a country whose population is in the hundreds of millions is borrowing too much to fix rail, roads, ports (air and sea) and power.”