Why Nigeria will not stop borrowing from China, others – Buhari

President Muhammadu Buhari said on Wednesday Nigeria would continue to take loans from China or any other country and donor agencies as long as they are willing to help with infrastructural development in the country.

Buhari, who stated this during an interview with Channels Television, defended his administration’s decision to source loans from China and other agencies, insisting that Nigeria would always welcome anyone willing to assist infrastructural development in the country.

He said: “Whenever there is a need to secure more foreign loans, especially for infrastructure, this administration will not hesitate to go for them as long as we use it for the purpose they are meant for, which is to develop our infrastructure.”

READ ALSO: Nigeria not in debt trap, but we expect repayment on loans -China

Buhari dismissed fears that Nigeria may be plunged into a debt trap with the constant borrowing, insisting that the country was still within the threshold of borrowing.

The President added: “We only take loans where it is necessary. I told you now of something, what it used to be between Lagos and Ibadan alone not to talk of the rest of the country.

“But we got the Chinese to help us in the rail and the roads, how can we turn that down? If we had turned that down, maybe between Lagos to Ibadan, you will have to walk.

“So the Chinese are welcome; anybody that is prepared to come and help us and our infrastructure to do the roads, the rail and power, will be welcomed.”

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