The Federal Government of Nigeria, on Tuesday, discloses that the Chinese government is becoming apprehensive about releasing loans to Nigeria following the National Assembly probe of the term of the agreement.
The executive arm of the Nigerian government insisted that no nation could recolonize Nigeria as a result of Nigeria’s unpaid debt while cautioning the legislature not to hamper its ability to access international funds.
This is explained by the Minister of Transportation, Mr. Chibuike Amaechi, and the Minister of Justice and Attorney-General of the Federation, Mr. Abubakar Malami, on a live television programme based in Abuja.
The two ministers argued that Nigeria’s sovereignty is not at risk in the loan agreement between Nigeria and China, as the National Assembly has recently claimed.
Amaechi adds that the National Assembly probe has made some Chinese to think that Nigeria is probing the loan agreements in order not to repay about $2bn that the country has already borrowed from China.
He says, “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 adds, “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.”
Amaechi also insisted that Nigeria must learn to pay back loan collected from other nations or agencies, saying that about $500m loan for the Abuja-Kaduna railway is currently being serviced.
He says, “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 the other hand, Malami explains that there is a difference between international diplomatic immunity, which has to do with a nation’s sovereignty, and commercial immunity, which has to do with a commitment to ensure repayment of loans.
He buttresses that the misconception the National Assembly is having is that it is looking at the diplomatic immunity as against the commercial immunity of a country that has to do with loans.
