Tinubu borrowing billions to invest in Nigeria’s infrastructure – Presidency replies Emir Sanusi

Special Adviser to President Bola Tinubu connected Policy Communication, Daniel Bwala, has said the existent authorities has borrowed billions of dollars to put successful Nigeria’s infrastructure.

Bwala made the remark successful effect to a remark by the Emir of Kano, Muhammed Sanusi, saying that Nigeria invests betwixt $30 cardinal and $100 cardinal each twelvemonth to hole its infrastructure problems.

Posting connected X, Bwala wrote: “Your Royal Highness, we are simply borrowing to put successful the astir important areas of our economy, with infrastructure being the astir important of them all.

“The deficiency of due infrastructure needs astatine slightest $30 cardinal to $100 cardinal each year, but what we’re presently spending is not enough, truthful we person to get money.”

Sanusi had raised concerns astir the Tinubu authorities inactive relying connected borrowing adjacent aft removing the substance subsidy, calling the concern financially inconsistent.

The Emir said that adjacent though the subsidy strategy isn’t moving successful the agelong run, the benefits radical were expecting from getting escaped of it haven’t really made them get little money.

He mentioned that Nigeria tin nary longer warrant supporting overseas refineries arsenic an oil-producing country.

The erstwhile Governor of Central Bank of Nigeria, CBN, besides said that caller advancement successful home refining and exports is bully for the economy.

The monarch besides criticized the go...