The House of Representatives on Thursday said it approved President Muhammadu Buhari’s $5.5bn external loan request because he has proven to be a man of his words.
Chairman of the House Committee on Media and Public Affairs, Abdulrazak Namdas said this on Thursday to newsmen.
He said the projects that will be executed with the loan are essential to economic development.
He said, “We approved the loan because we believe that the President is a man of his words and will utilize the funds for the projects earmarked”.
“If you have a person that sticks to his words and with President Muhammadu Buhari, we have no doubt that this loan will be put to good use.”
“We just came out of recession and we need to spend money on infrastructure. Borrowing is part of ways to rejig the economy but it is not good to borrow for frivolous items. However, when you borrow to invest, there is nothing wrong about it.”