China becoming apprehensive about Nigerian loans, says FG

By AdvocateNews on 05/08/2020

Share on facebook Yahoo mail icon Gmail icon

Views: 560

Amaechi
Amaechi

China is becoming apprehensive about releasing loans to Nigeria following probes by the National Assembly on loans earlier released to Nigeria by the Asian nation, the Federal Government said on Tuesday.

Although the government insisted that no nation could recolonise Nigeria as a result of Nigeria’s indebtedness, it cautioned lawmakers not to hamper its ability to access international funds.

The Minister of Transportation, Chibuike Amaechi, and the Minister of Justice/Attorney-General of the Federation, Abubakar Malami, said this in a live television programme monitored by our correspondent in Abuja.

Both ministers argued that Nigeria’s sovereignty was not at risk in the country’s loan agreements with China, as recently claimed by the National Assembly.

Amaechi said the probe by the National Assembly had made some Chinese to think that Nigeria was probing the loan agreements in order not to repay the about $2bn so far collected from China.

He said, “You know, I specifically urged the National Assembly to please be careful about this probe on the loan agreements. It is because we are trying to make an application for the Port Harcourt Maiduguri rail.

“If nothing else is happening, you know that our brothers are already saying that we don’t want to do any rail project in the South-East.”

He added, “Now that we are planning to say that they should give us some loan for us to construct Port Harcourt to Maiduguri, and we are about to go to cabinet for approval, you are now shouting these terms are bad, Chinese people are wicked.

 “How will they give you the money? I have documents to the effect that we are getting signals that they are becoming a bit apprehensive on whether we are doing this because we don’t want to pay them back.”

The minister said Nigeria must learn to pay back loans collected from other nations or agencies, adding that the about $500m loan for the Abuja-Kaduna railway was currently being serviced.

He said, “Nobody has signed out anything. A sovereign nation is a sovereign nation; nobody can recolonise us. We must learn to pay our debts and we are paying, and once you are paying, nobody will come and take any of your assets.”

On his part, Malami explained that there was a difference between international diplomatic immunity, which had to do with a nation’s sovereignty, and commercial immunity, which had to do with a commitment to ensure repayment of loans.

He said the misconception was that the National Assembly was looking at the diplomatic immunity as against the commercial immunity of a country that had to do with loans.

Posted 05/08/2020 8:50:36 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Militia attacks Taraba community, kills 15

Buhari announces another extension off Lockdown: President's Full...

Power generation hits peak at 5,377MW

COVID-19: FG confirms airports will no longer reopen...

Four PhD holders ‘apply’ for FG’s N20,000 per...

Atiku presents Six-Point demand to Buhari

Okoroma, Bayelsa Community decries neglect, demands renewal of...

Imo footballer killed, buried in shallow grave

Ex-Enugu SSG, Martin Ilo, is dead

Oritsejafor hosts 4th CEO's mentorship in Warri

President Buhari sacks Executive Secretary of NCPC

SSS arrests PDP Campaign Spokesperson

 

Latest News Edo Decides: PDP alleges moves to replace results in Edo North Enugu Royal Father threatens legal action against serving Army Officer, Ex- Perm Sec, others over alleged defamation Umahi weeps at scene of Ebonyi accident, 15 bodies out of 30 victims retrieved Edo election: Over 300 policemen surround Wike’s hotel in Benin, PDP warns IGP Edo: ‘My reelection not worth spilling of blood' – Obaseki How Buhari, officials drew Nigerians’ anger thrice in four days SEED OF DESTINY TODAY -- LIVING IN ETERNITY CONSCIOUSNESS AND APPRECIATION TO GOD Enugu ex-governors Nnamani, Chime in closed door meeting at Agbani Ebeano political family pays solidarity visit to Gov. Ugwuanyi today FG bars Emirates Airlines from operating in Nigeria Cross River landlord sets tenant ablaze over N11,000 rent Man kills his 85-year-old mother, two kids in Anambra

 

Most Read I’ve no Coronavirus, govt wants to kill me – Anambra Index case (39,055 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (26,858 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (20,246 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (18,123 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (17,914 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (17,860 views) ASUU strike: Senate intervention ends in deadlock (16,986 views) All you need to know about Peter Obi, PDP VP Candidate (16,841 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (15,773 views) Sickle cell support group seeks government intervention (14,669 views) Ebonyi bans embalming of corpses in homes (14,611 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (14,234 views)

 

SECTIONS EDITORIAL (11) NEWS (3,493) POLITICS (463) SOCIETY (122) SPORTS (32) BUSINESS (324) HEALTH (43) EDUCATION (34) INTERNATIONAL (84) ENTERTAINMENT (25) TECHNOLOGY (1) COLUMNISTS (8) LETTERS (1) OPINION (23)

 

 

Julius Agwu - Crazy Interview Demands