Fashola hits out at Obasanjo Over $12BN Loan

Babatunde Fashola

Former governor of Lagos State and current Minister of Works and Housing Development, Babatunde Fashola, has hit out at former President of Nigeria, Olusegun Obasanjo, for being responsible for the weak infrastructural base in Nigeria.

The minister echoed this in an interview with Channels Television, were he was quoted as saying that if he had the $12 billion like the Olusegun Obasanjo government in 2005, he would have built rails and more roads.

Recall that in 2005/2006, the Paris Club wrote off $18 billion of the $30 billion Nigeria owed the cartel after months of negotiations.

Fashola said that rather than deploy the funds prudently, the Obasanjo government decided to pay the country’s creditors to the detriment of the country.

He said: “At one time in this country, in 2005, we had $12 billion. At that time, these roads were bad. At that time there was no rail. But what did we do as a matter of state policy, it was just to pay creditors to our own detriment.

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“I can only imagine if I had the opportunity then with $12 billion in my hand, we would have built rails and roads. What this government is dealing with, which I am responsible for, is the infrastructure that will be enduring,” Fashola said.

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