President Muhammed Buhari on Monday, August 10, urged the Ministry of Finance to account for the foreign loans aimed at the rail projects but used for other purposes.

Buhari called for the explanation when he spoke at the presidential villa after the presentation of the Ministry of Transport, Premium Times reports.

The country leader lamented over diversion of loans from one project to another and added:

“I hope that due process was followed before such diversions were carried out. Taking money from one project to another has to be done properly.”

President Buhari specifically referred to the $1.005billion loan received from the Chinese Exim Bank for the construction of a rail line linking Lagos with Kano. However, the money was used for some other project.

The permanent secretary, who briefed the president, said that only $400million of that sum remained with the Ministry of Finance.

Buhari expressed disappointment that such situations led to many projects having been left either uncompleted or abandoned. He further stressed the importance of prioritizing the ongoing projects in the transportation sector.

In another development Nigeria’s number one politician on Monday addressed the country elite urging its representatives to “wake up” and help Nigeria deal with its economic challenges.