China Loan: No Country Can Recolonize Nigeria – Amaechi
1 month ago Femi Olasunkanmi 0
Minister of Transportation, Rotimi Amaechi and Minister of Justice and Attorney General of the Federation, Abubakar Malami have assured that Nigeria is not ceding its sovereignty to any lending nation.
According to the duo, the clause in the agreement signed between China and Nigeria was a standard clause that appears in every agreement in lending transactions.
They noted the clause was just a form of assurance the borrowing country will not default in the repayment of the loan.The duo made the clarification when they appeared on a television programme in Abuja on Tuesday.
Amaechi, while debunking the notion that Nigeria’s sovereignty has been signed off to China in obtaining the loans, said: “Nobody has signed out anything.
A sovereign nation is a sovereign nation, nobody can re-colonise 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.”
Amaechi also exonerated Goodluck Jonathan’s administration from the clause in the agreement, stating the clause was a standard clause.
We will not blame President Goodluck Jonathan’s government for taking the loan because like I said, it is a standard clause in every loan agreement.
That clause enables the lending country to go to arbitration.“It creates an avenue for them to be able to retrieve their funds in the case of a default.