NATIONAL ASSEMBLY SHOULDN’T HAVE APPROVED CHINESE LOANS OVER SOVEREIGNTY CLAUSE SAYS INTRANSIGENT AMAECHI

The Minister of Transportation, Chibuike Amaechi has again questioned the National Assembly’s position on the country’s loan agreements with China. Amaechi dispelled the notion that Nigeria’s sovereignty has been signed off to China in the process of obtaining the loans. He wondered why the National Assembly went ahead to approve the loans knowing it was signing off the country’s sovereignty. A statement by his media office said that the Minister spoke on a TV programme on Tuesday. It quoted him saying, the National Assembly says “we have signed out the…

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THE CHINESE LOANS AND HOW THEY ENTANGLE MANY COUNTRIES THROUGH DEBT TRAP DIPLOMACY: WHY AMEACHI WILL NOT WANT NASS TO PROBE THE TERMS, WHY NIGERIANS SHOULD NOT KEEP QUIET NOW

The Nigerian press has been awash with concern about the terms of some loans contracted with or about to be contracted with China. The Minister of Transport, Rotimi Amaechi, even called on legislators to “look the other way” rather than conduct their due diligence on the loans, or else China will withdraw its support. In this report, we try to tease out all the different strands of the debate. What is the status of China loans to Nigeria? Data obtained from the Debt Management Office (DMO) showed that between 2010 and March…

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CHINESE COMPANY’S DELAY IN COMPETING RAILWAY STATIONS EMBARRASSING – AMAECHI

The Minister of Transportation, Mr Rotimi Amaechi, has described as embarrassing the delay by the China Civil Engineering and Construction Corporation in completing the 10 railway stations along the Lagos-Ibadan standard gauge rail line. Amaechi made the remarks on Friday at the Abeokuta rail station under construction, during the monthly inspection of the on-going Lagos to Ibadan Rail project. According to him, CCECC, the contractor handling the 156km rail line, has reduced the pace of work between the last two inspections in November and December. “The delay is becoming an…

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