Minister of Works and Housing, Babatunde Fashola has disclosed reasons federal government has settled for the option of taking loans to fund projects.
He disclosed that the Federal government do not want to impose taxes on Nigerians.
Fashola emphasized that the resolve of the President Muhammadu Buhari-led administration to borrow funds to execute projects was in line with what obtained in other climes.
While disclosing this during the flag-off of the Akure-Ado highway, the Minister stated that Buhari will continue to award contracts and borrow until his last day in office.
According to him, the president has until midnight on May 28 to cease performing his executive powers.
Fashola claimed that the N90 billion project will be funded by the NNPC through the federal government’s tax credit policy.
He added that infrastructure development can only be realized through borrowing or taxation.
The Minister revealed that misinformation had been spread about him over the delay of the project, which had previously been granted to Dantata and Sawoe Construction Firm.
Fashola maintained that the project will be completed in 24 months, adding that the project has been awarded to Samchase Nigeria Ltd. and Kopeck Construction Company.
“People are asking why we are still awarding contracts when we have just a few days to go. Should we stop this road now and wait for the next government?
“It is a juvenile conversation. They forgot, among other things, that the term of this administration ends at midnight on May 28.
“This road really represents the paradox about governance, about roads, and about public debts. This is the real story.
“The work looks easy from the outside, but one decision leads to other consequences. But we have now given you contractors who have worked with you,” he said.
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