{"id":27786,"date":"2020-08-01T15:19:48","date_gmt":"2020-08-01T14:19:48","guid":{"rendered":"https:\/\/everyday.ng\/?p=27786"},"modified":"2020-08-01T15:19:48","modified_gmt":"2020-08-01T14:19:48","slug":"amaechi-says-no-need-panic-nigeria-repaying-loans-from-china","status":"publish","type":"post","link":"https:\/\/everyday.ng\/?p=27786","title":{"rendered":"Amaechi says no need to panic, Nigeria repaying loans from China"},"content":{"rendered":"

The Minister of Transportation, Mr. Rotimi Amaechi, has said that Nigeria is already repaying China’s loans.
\nAmaechi stated this when he appeared on a live television programme (Democracy Today) aired on AIT on Saturday.
\nHe 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.
\n\u201cWe are paying the loans.
\n\u201cIn the same National Assembly sitting, they were told that the $500million loan, we have paid $96m already.
\n\u201cNigeria 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,\u201d he said.
\nHe said the excitement about the immunity clause is misplaced as it was just a clause that protects China money.
\n\u201cAnybody that is saying he doesn\u2019t 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\u2019t pay they go after your assets you put down.
\n\u201cThat is all about the clause, the Chinese can never come and take over Aso rock and become President or Minister,\u201d he said.
\nThe House of Representatives, in their probe of Chinese loans to Nigeria, found that the agreements ceded Nigeria\u2019s sovereign right on the assets financed by the loans to China if there was payment default.
\nThis findings have been generating reactions from Nigerians all through the week.
\nBut he said all the conditions that Nigeria signed on the loans was approved by the National Assembly, hence the probe was unnecessary.
\nAmaechi 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.
\n\u201cThe National Assembly are aware of all these loans.
\n\u201cWe can\u2019t take loan without the National Assembly.
\n\u201cSo, ask why they are investigating?
\n\u201cThe Chinese is just asking us to show them the evidence that we will pay back which is the immunity clause.
\n\u201cIf we don\u2019t pay, they can take back their assets,\u201d he noted.
\n\u25aa\ufe0e By dailytrust.com.ng<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Minister of Transportation, Mr. Rotimi Amaechi, has said that Nigeria is already repaying China’s loans. 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, […]<\/p>\n","protected":false},"author":7,"featured_media":13513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2044,1426,1744],"class_list":["post-27786","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uncategorized","tag-amaech","tag-china","tag-loans"],"_links":{"self":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/27786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27786"}],"version-history":[{"count":0,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/27786\/revisions"}],"wp:attachment":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}