Following outrage caused by the $500 million loans collected by the Nigerian government from China, the government of the Asian country has insisted that there is no motive to take over Nigeria’s sovereignty should there be any default in repayment.
The DAILY VENDOR recalls that the Minister of Transportation, Rt. Hon. Rotimi Amaechi, while answering questions from journalists, had defended the Federal Government alleged ceding of Nigeria’s sovereignty to China in the signing of a loan contract.
Amaechi’s statement followed the House of Representatives discovery that the agreements between Nigeria and China ceded Nigeria’s sovereign right on the assets financed by the loans if there was any repayment default.
In a live broadcast on AIT on August 1, the Minister later disclosed that Nigeria is already repaying China loans. He said that out of the $500m loan the Federal Government took to construct the Abuja-Kaduna rail line, about $96m has been reimbursed, stating that the repayment plan for the loan will run for about 20 years.
Amidst the reactions from Nigerians that Nigeria’s sovereignty as an independent nation may be in question, the Chinese government released a statement saying there is no plan to take-over the country.
China also maintained that it is only committed to maintaining the mutual relationship with African countries, saying “we follow a “five-no” approach in our relations with Africa.”
“No interference in African countries’ pursuit of development paths that fit their national conditions; no interference in African countries’ internal affairs; no imposition of our will on African countries; no attachment of political strings to assistance to Africa; and no seeking of selfish political gains in investment and financing cooperation with Africa,” the statement read partly.
