China is becoming apprehensive about releasing loans to Nigeria following probes by the National Assembly on loans earlier released to Nigeria by the Asian nation, the Federal Government said on Tuesday.
Although the government insisted that no nation could recolonise Nigeria as a result of Nigeria’s indebtedness, it cautioned lawmakers not to hamper its ability to access international funds.
The Minister of Transportation, Chibuike Amaechi, and the Minister of Justice/Attorney-General of the Federation, Abubakar Malami argued that Nigeria’s sovereignty was not at risk in the country’s loan agreements with China, as recently claimed by the National Assembly.
Amaechi said the probe by the National Assembly had made some Chinese to think that Nigeria was probing the loan agreements in order not to repay the about $2bn so far collected from China.
The minister said Nigeria must learn to pay back loans collected from other nations or agencies, adding that the about $500m loan for the Abuja-Kaduna railway was currently being serviced.
Although the government insisted that no nation could recolonise Nigeria as a result of Nigeria’s indebtedness, it cautioned lawmakers not to hamper its ability to access international funds.
The Minister of Transportation, Chibuike Amaechi, and the Minister of Justice/Attorney-General of the Federation, Abubakar Malami argued that Nigeria’s sovereignty was not at risk in the country’s loan agreements with China, as recently claimed by the National Assembly.
Amaechi said the probe by the National Assembly had made some Chinese to think that Nigeria was probing the loan agreements in order not to repay the about $2bn so far collected from China.
The minister said Nigeria must learn to pay back loans collected from other nations or agencies, adding that the about $500m loan for the Abuja-Kaduna railway was currently being serviced.
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