• May 11, 2021

“Your Questions Are Stalling Our Loan Requests From China” – Amaechi To NASS

By Franca Joseph (AGENDAWATCHDOG) – Rotimi Amaechi, Nigeria’s  Minister of Transportation, on Saturday, lamented that the questioning of Nigeria’s loan requests from China by the National Assembly could stalling their release.

Amaechi, who made this statement while on an inspection tour of the Lagos-Ibadan standard gauge rail project, which is being funded by a consortium of Chinese banks, pointed out that China might be discouraged from funding future projects in Nigeria due to the National Assembly’s inquisitions into loan requests by the country, using the $5.3bn loan request for the completion of the Ibadan-Kano railway project as one of such loans that are on hold due to these inquiries.

The minister, following the House of Representatives’ alarm that loans received from China might compromise the country’s sovereignty in the case of a re-payment default, had assured that loans that are primarily spent on capital projects built by Chinese companies will benefit the country in the long run.

Agenda Watchdog

Read Previous

COVID-19 BRIEFS: Nigeria Records 325 New Cases, As Total Infections Hit 48, 770

Read Next

Edo Guber Election: “We Are Not Responsible For Violence At PDP Rally” – APC