Connect with us
X
Categories:

News

No Need To Panic, Nigeria Is Already Paying China Loans – Amaechi

The Terrorist!

Published

on

The Minister of Transportation, Mr. Rotimi Amaechi, has said that Nigeria is already repaying China loans.

Download & Install The New ANE Android App To Your Device
Hello!! Have you heard about the deadly virus called Coronavirus? No? See What It Is & How To Prevent It Here. Also Stay Connected & Get Latest Updates On Coronavirus Here. Please be safe! We LOVE You.


Amaechi stated this when he appeared on a live television programme (Democracy Today) aired on AIT on Saturday.

He said, out of the $500m loan the federal government took to build the Abuja-Kaduna rail line, $96m has been paid, adding that Nigeria has capability to pay all the China loans.

“We are paying the loans.

“In the same National Assembly sitting, they were told that the $500million loan, we have paid $96m already.

“Nigeria is already paying and the $500m was not taking by us, it was taken by President Goodluck Jonathan in his term and that clause was there,” he said.

He said the excitement about the immunity clause is misplaced as it was just a clause that protects China money.

“Anybody that is saying he doesn’t know what a sovereign guarantee or immunity is, too bad for the person, because it simply means in trade that I am not giving you this loan free of charge, just like you go to the bank to collect a loan, the moment you don’t pay they go after your assets you put down.

“That is all about the clause, the Chinese can never come and take over Aso rock and become President or Minister,” he said.

The House of Representatives, in their probe of Chinese loans to Nigeria, found that the agreements ceded Nigeria’s sovereign right on the assets financed by the loans to China if there was payment default.

This findings have been generating reactions from Nigerians all through the week. But he said all the conditions that Nigeria signed on the loans was approved by the National Assembly, hence the probe was unnecessary.

Amaechi said it would be unconstitutional to take a loan not approved by the National Assembly, but for the issue of confidentiality in government he would have published the clauses generating the dusts.

“The National Assembly are aware of all these loans. “We can’t take loan without the National Assembly.

“So, ask why they are investigating? “The Chinese is just asking us to show them the evidence that we will pay back which is the immunity clause.

“If we don’t pay, they can take back their assets,” he noted.


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment
Reach us on WhatsApp via: +2348104471989

Don’t Miss!

Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.




Latest Exchange Rate

Donate To ANE!


Mind buying a coffee to support us here at All Naija Entertainment?. Yes?

Donate Now
Baby Walkers
Lifestyle4 weeks ago

Buying Guide On Baby Walkers for 2021

Burna Boy
Entertainment2 months ago

2021 Grammy Awards: Burna Boy Promises An Unforgettable Performance Experience

Lionel Messi Barcelona Sevilla Copa Del Rey Semi Final
Sports2 months ago

Copa del Rey: Barcelona conquer Sevilla despite 2-0 down!!

PANDORA'S BOX Story
Stories2 months ago

[STORY] PANDORA’S BOX (Episode 06)

BITCOiN
Technology3 months ago

Best Time to Sell Your Bitcoin [EASY GUIDE]

BITCOiN
Technology3 months ago

Bitcoin Crashes, Loses $10,000 In Value

News3 months ago

30 Million Nigerians Will Be On Drugs By 2050 – NDLEA

Cristiano Ronaldo
Sports3 months ago

Serie A: Ronaldo’s Brace Set Juventus Free From Crotone

News3 months ago

Fulani Herdsmen Deserve Better Treatment From Nigerians – Bauchi Former Gov

Justin Trudeau
News3 months ago

Insecurity: Canada Issue Warning to Citizens Against Traveling to Nigeria

NCDC Chairman Chikwe Ihekweazu
News3 months ago

Nigeria Govt Confirms Discovery Of New Covid-19 Variant, 15 Others

Akwa Ibom Best Hotels ANE Travels
Lifestyle3 months ago

How To Detect Hidden Camera in a Hotel Room!!

WhatsApp
Technology3 months ago

WhatsApp To Deactivate Messages For Users Who Reject New Terms!!

Nissi
Entertainment3 months ago

Afro-Jazz/funk Singer, Nissi’s ‘Move X 2’ Is A Rare Delightful Visual

Kim Kardashian
Entertainment3 months ago

Kim Kardashian Officially Files For Divorce From Kanye West!!

Kanye West
Entertainment3 months ago

Kanye West Thinks Kim Kardashian Is Divorcing Him Because Of Presidential Run

Banky W and Adesua Pregnant
Entertainment3 months ago

Banky W, Adesua Etomi Welcome Baby Boy!!

JImoh Ibrahim
News3 months ago

Jimoh Ibrahim: Court Vacates Order Against Assets Over Alleged N69.4bn Debt

Business3 months ago

Nigeria To Supply Electricity To Togo From Calabar Power Plant

Victor Osimhen
Sports3 months ago

Napoli Confirm Victor Osimhen Head Injury, Say No ‘conclusive Result’ After Tests

ANE Billboard Hots!



Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.





Copyright © All Naija Entertainment.

css.php