Why Countries, Institutions Approve Loans for Nigeria - Buhari

Paschal Emeka, Abuja

President Muhammadu Buhari has explained on the reasons countries and institutions approve loans for Nigeria.

Buhari spoke at the State House, Abuja, at a meeting with members of the Catholic Bishops’ Conference of Nigeria (CBCN), on Wednesday.

The President explained that creditors had full confidence that Nigeria has the capacity to utilize resources and repay loans.

“We are credible, that’s why the countries and institutions agreed to support our development with loans.”

He, however, condemned the destruction of oil facilities which slowed the generation of revenues.

The President therefore, assured the clerics that the government would be harder on saboteurs.

Buhari added that challenges faced in the past, including coups and civil war, prepared the nation for survival.

“We thank God that Nigeria is still one. We should not forget that more than a million died for the nation to survive,'” he said.

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