Fashola campaigns for external borrowing to finance Capital Projects
The Minister of Power, Works and Housing,Babatunde Raji Fashola, SAN has thrown his weight behind external borrowing to finance capital projects. The Minister made the disclosure while delivering his address at the 2nd Annual Nigerian Mining Week at the Nigerian Air Force Conference in Abuja on Tuesday 17th October, 2017.
Fashola, who recalled that in 2016, the Federal Government committed the sum of N1.2 trillion on capital projects, which is an increase from 15% to 30%, emphasized the need to source for loans to finance the development of critical infrastructure for the Federal Government to fulfill its campaign promises.
While commending the leadership of the Mines sector for the amazing milestones recorded within “so short a time”, the Minister noted that very little can be achieved within the Power industry without inputs from the sector. He said, “as we roll out transmission stations, towers, we install transformers, whether it is steel casing for the transformers, whether it is copper winding inside it, all of these stem from the operations of the mining industry”.
The Minister of Mines and Steel Development, Dr. Kayode Fayemi, earlier on commended the “Nigerian Mining Week,” as a networking platform and a learning turf for existing businesses.
Fayemi noted that a recent World Risk Report published by the Mining Journal indicated that Nigeria has made remarkable improvements in both hard and perceived risk factors. He added that, “the Nigerian mining jurisdiction is now considered to have a better investment risk profile than Russia, China, India and several other leading jurisdictions”.
Various stakeholders took their turns to discuss the challenges facing the sector and the need to collaborate amongst themselves towards the sustainable development of the sector.
In attendance were the Governor of Taraba State, Darius Ishaku, the Ohinoyi of Ebiraland, Alhaji Ado Ibrahim, Senior Partner, PriceWaterhouse Coopers (PWC), Uyi Akpata, representative of the Kaduna State Governor, Mallam Nasir El-Rufa’I, Mrs. Amina Sijuade, amongst others.
THE HONOURABLE MINISTER OF WORKS AND THE EXECUTIVE GOVERNOR OF NIGER STATE, H.E. MOHAMMED UMARU BAGO AT THE TOWN HALL MEETING AND STAKEHOLDERS ENGAGEMENT ON THE CONSTRUCTION OF THE 127-KILOMETRE, 3-LANE, SINGLE CARRIAGEWAY (NIGER STATE COMPONENT) OF THE 1,068-KILOMETRE SOKOTO - BADAGRY SUPERHIGHWAY IN MINNA, WEDNESDAY, 13TH NOVEMBER, 2024
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MID -TERM REVIEW MEETING ON THE IMPLIMENTATION OF THE DECISIONS REACHED AT THE 29TH NATIONAL COUNCIL ON WORKS (NCW) DAY 1
MID -TERM REVIEW MEETING ON THE IMPLIMENTATION OF THE DECISIONS REACHED AT THE 29TH NATIONAL COUNCIL ON WORKS (NCW) DAY 1