I sorry sorry for Nigeria.

King44:
All Chinese infrastructural contracts should be reviewed.... If this things are not done we will regret.

We the masses would regret it the most... It us better not to let the case go under the rug like other cases... Zambia is now a Chinese colony, Ethiopia etc..

Nigeria is in line... The only trick they uses loan, infrastructure construction etc

Go to YouTube and confirm what I said.

On other thread I just said my mind, not knowing that it is actually happening..

Chinese would give you bronze and collect platinum from you that is how it is

Apc would finish us but I won't only blame them pdp started it.

People be still calling party names, refusing to see the imminent danger. APC or PDP aren't they more or less same people?

RichDad1:
Foolish man from a foolish party.
Throughout his party’s 16 years misrule with huge crude oil earnings and foreign loans, what infrastructural developments can they boast of that can rival what Amechi has achieved in under 5 years with lesser revenues?

Modify:
I can see a lot of you perpetual wailers are pained with my comment. Una never see chumchin.
This administration will continue to build massive infrastructures and name it after your useless party leaders to shame them.
Bunch of never do goods that are hell bent on dragging the country backwards with their unusual “share the money” governance style.
Imagine how many trains the $2.1b Dansuki loot would have gotten us? Indi ara
By now y’all should know there’s a new sheriff in town. Get used to it!

From new Sheriff in town to body language and now to Darling daddy not been aware. You should be worried that the sovereignty of your country has been signed away with loan agreements written in Chinese and likely to be HushMagu at the end. The audio "massive infrastructure" belongs to China.

Angelfrost:


Amaechi, Akpabio, Ngige, and many other charlatans currently in APC were also in that same PDP during those wasteful years... We both know they would still be in PDP today, if the useless party was still in power.

Criticize individuals, if you must... Don't act like APC is a better party than PDP.

He wasn't in Nigeria then when the aforementioned were in PDP.

isthatso:


Dont mind the illiterates in PDP, thats why they cant build infrastructure. Amaechi did not concede our sovereignty over the rail line. All he did which is normal is concede our sovereign right not to be sued outside Nigeria incase we default. For the illiterates in PDP and their supporters all that means is that in the event of a dispute, the case can be decided in a Non-Nigerian court.


All it means is the Chinese dont trust our courts and said if we lend you this money and you dont pay we have the right to sue you outside Nigeria and Amaechi agreed.......nothing wrong with that!

Stop deceiving your generations. I believe you are reading from the loan agreement written in Chinese.

abbey621:


So how is this different from when you sign a loan using your car or business as collateral? How does this translate to selling the country to China? I hope you've heard of IMF or World Bank before, did you bother to read the loan agreements 9ja signed, how is it different to this one from China? Una just like to make noise instead of using logic!

So in essence a minister has the power to mortgage ANY of our national asset(s) of his choice in the name of loan considering the fact that such assets are what now and future generations will depend on. Even the National Assembly is claiming to be in the dark regarding the details of the loans. Why do people like to defend absurdities?! All of you shouting infrastructure, infrastructure I bet you a third of these of loans will end up in private pockets. Same story with Magu recovering billions and trillions but today even a child knows better.

Onunojo why are they media giving this guy publicity?

Lexusgs430:
Why they signed such a loan, with this conditions..... Is truly alarming......

Was it a deliberate act or an omission...... My mind queries.........

Chinese firms are fond of drafting contracts in Chinese language and in some sections English is used, if you are not careful you will end up breaking the terms of contract unknowingly. This guys are so smart they contract away all function to local vendors, transferring most of the risks to those vendors and at same time control the margin. Atleast I know one company in the communications industry that is into this.

3Ceagle:


Chinese firms are fond of drafting contracts in Chinese language and in some sections English is used, if you are not careful you will end up breaking the terms of contract unknowingly. This guys are so smart they contract away all function to local vendors, transferring most of the risks to those vendors and at same time control the margin. Atleast I know one company in the communications industry that is into this.

Why would a sane person sign a contract, in a language they don't understand?.....

Did any legal team read through this contract prior?....

It's very easy to get a contract term translated. Not a cheap option, but a better option........

Sunnyja:
So in essence a minister has the power to mortgage ANY of our national asset(s) of his choice in the name of loan considering the fact that such assets are what now and future generations will depend on. Even the National Assembly is claiming to be in the dark regarding the details of the loans. Why do people like to defend absurdities?! All of you shouting infrastructure, infrastructure I bet you a third of these of loans will end up in private pockets. Same story with Magu recovering billions and trillions but today even a child knows better.

Yes you gave them those rights. You elected the president and the president in turn appointed the minister and approved the loan. The discussion here is not about the loan being right for Nigeria, it is about whether Nigeria was sold to China. Let's stick to topic!

zeusdgrt:

Seriously?U are dumb and outdated,read more about international trade,is never a total acquisition deal it is payment by product prorated by time inline with interest value.Oga u are an outdated mugu.Try upgrade and stop arguing about a profession you know nothing of u clown!the contract agreement that now involves total acquisition makes it a very weird agreement written in Chinese inscription.Guy u are dumb and stupid!

Shows just how ignorant you are, obviously your parents did not train you with good manners, otherwise you wouldn't insult people you've never seen on social media!

King44:
All Chinese infrastructural contracts should be reviewed.... If this things are not done we will regret.

We the masses would regret it the most... It us better not to let the case go under the rug like other cases... Zambia is now a Chinese colony, Ethiopia etc..

Nigeria is in line... The only trick they uses loan, infrastructure construction etc

Go to YouTube and confirm what I said.

On other thread I just said my mind, not knowing that it is actually happening..

Chinese would give you bronze and collect platinum from you that is how it is

Apc would finish us but I won't only blame them pdp started it.

That the problem with moving forward in Nigeria, everything is reduced to APC vs PDP, therefore the merit of the arguments is not even considered. PDP ruled for 16 years without giving us critical infrastructure like power, rail and roads. PDP also borrowed billions of dollars apart from wasting our oil windfall. But all you guys shout about is Buhari or APC has finished us. They even choose to forget that PDP had already signed our sovereignty to a private company - P&ID, that is threatening to seize our assets overseas, without providing any service or loan to us. Reducing evey argument to display hatred for Buhari or APC immediately destroys the merits of the argument.

Seems they want to deal with the honorable minister

SmartPolician:
I was even defending the deal until I saw a video where Amaechi explained the controversial clause.

While I thought that the deal said that the Chinese should go after the project done with the loan, the deal, according to the minister, says that they can grab any national asset of their choice.

Only God knows what these idiots have been signing behind our backs until the house of reps exposed this clause. Nigerian government is not known to repay loans.

No doubt, Nigeria is technically finished

Pls can you provide a link to the video of amaechi's explanation?

abbey621:


Shows just how ignorant you are, obviously your parents did not train you with good manners, otherwise you wouldn't insult people you've never seen on social media!

Am I missing the fact that you called me an idiot first?

Kaysalas:

Pls can you provide a link to the video of amaechi's explanation?

https://www.youtube.com/watch?v=LaY9LybthVw

This Amaechi doesn't have sense

Bekool:



Jeeez is that actually the agreement? I thought it's just only the assets that the loan was used to build this people have finished us.

https://www.youtube.com/watch?v=LaY9LybthVw

anigbajumo:


Let's have a constructive argument, pls can you kindly show me where the minister said they can take over any asset of their choice??... Bro kindly check the vedio again, "Chinese can ONLY TAKE OVER THE PROJECT'S THE MONEY USED TO EXECUTE UNTIL THEY FULLY RECOVERD THE LOAN..." The minister simply refers to privatization of the rail transportation to Chinese until they finally generate enough money that was used to finance the project.

Basically, there is no anywhere in the world where rail transportation is done by government, it's always own by NGO while the government stand as regulatory body just as NCC is function as regulatory body to our service provider...

https://www.youtube.com/watch?v=LaY9LybthVw

I want you to read my submission again and defend Amaechi afterwards

Kaysalas:

Pls can you provide a link to the video of amaechi's explanation?

https://www.youtube.com/watch?v=LaY9LybthVw

In the video, Amaechi was saying what the Chinese usually does instead of pointing out what they should do

Besides, they hid the clause when they submitted the deal of legislative approval the first time

SmartPolician:



https://www.youtube.com/watch?v=LaY9LybthVw

I want you to read my submission again and defend Amaechi afterwards

Av read and listen to it bro, Ameachi never said they can take over any asset of their CHOICE but to take over the exact project the loan was used to finance, kindly listen to him again ..

anigbajumo:


Av read and listen to it bro, Ameachi never said they can take over any asset of their CHOICE but to take over the exact project the loan was used to finance, kindly listen to him again ..

Amaechi is on the defensive side because he knows he goofed in a big way.

The house pointed out the clause, which Amaechi never saw because he didn't personally go through the agreement, cedes Nigeria's sovereignty to China.


However, Amaechi is now saying what the Chinese usually does, instead of clarifying what they signed. And Amaechi admitted that he just found out about the clause.

Why should a minister be signing a contract worth billions of dollars without taking his time to read the details word for word?

This is not up for a debate because it's crystal clear the minister is just trying to defend his absurdity.

RichDad1:
Foolish man from a foolish party.
Throughout his party’s 16 years misrule with huge crude oil earnings and foreign loans, what infrastructural developments can they boast of that can rival what Amechi has achieved in under 5 years with lesser revenues?

Modify:
I can see a lot of you perpetual wailers are pained with my comment. Una never see chumchin.
This administration will continue to build massive infrastructures and name it after your useless party leaders to shame them.
Bunch of never do goods that are hell bent on dragging the country backwards with their unusual “share the money” governance style.
Imagine how many trains the $2.1b Dansuki loot would have gotten us? Indi ara
By now y’all should know there’s a new sheriff in town. Get used to it!

you're nothing but a mor0n,a bigoted fo0l

SmartPolician:




Amaechi is on the defensive side because he knows he goofed in a big way.

The house pointed out the clause, which Amaechi never saw because he didn't personally go through the agreement, cedes Nigeria's sovereignty to China.


However, Amaechi is now saying what the Chinese usually does, instead of clarifying what they signed. And Amaechi admitted that he just found out about the clause.

Why should a minister be signing a contract worth billions of dollars without taking his time to read the details word for word?

This is not up for a debate because it's crystal clear the minister is just trying to defend his absurdity.

.
Abeg yarn me how Amaechi ceded sovereignty to china? Did china insist on determining our exchange rate, did china insist on opening our ports to all their goods? did china insist the government cancel petroleum subsidy or agricultural subsidy? How did the contract cede Nigeria's sovereignty to china.

Mind you i am not exactly defending Amaechi or the Federal Government. I believe all loans must be scrutinized by the National Assembly. My questions is where has the National Assembly been all these while? Their job should not just be collecting Constituency projects and sitting allowances, but should actually perform legislative duties.

Lexusgs430:


Country debt is very different from personal debt.......

The most important keynotes are, the terms of agreements...........

Yes but these terms are economic realities. A country has choices - to wait until it gets a high sovereign rating or to waive immunity. There is no middle ground for LDC countries. Nigeria already has a negative pledge with Bretton Woods lenders meaning meaning it cannot even use it's assets as security. If China were to chase international recourse, it would be looking at foreign domiciled assets - buildings, reserves and the like and these would need to be in a jurisdiction in which enforcement is possible which rules out most Western nations. China is not going to send troops to Nigeria to seize a train track. Let's stop getting hamstrung with words and let's focus on the realities behind the words. These are standard contracts for LDC infrastructure.

Nigeria had no choice. This NASS discussion is a rabbit trail going no where.

BreconHills:


Yes but these terms are economic realities. A country has choices - to wait until it gets a high sovereign rating or to waive immunity. There is no middle ground for LDC countries. Nigeria already has a negative pledge with Bretton Woods lenders meaning meaning it cannot even use it's assets as security. If China were to chase international recourse, it would be looking at foreign domiciled assets - buildings, reserves and the like and these would need to be in a jurisdiction in which enforcement is possible which rules out most Western nations. China is not going to send troops to Nigeria to seize a train track. Let's stop getting hamstrung with words and let's focus on the realities behind the words. These are standard contracts for LDC infrastructure.

Nigeria had no choice. This NASS discussion is a rabbit trail going no where.

I go by precedents....... I rest my case.....

Lexusgs430:



I go by precedents....... I rest my case.....

The reality that you should be asking is; why is that African countries take loans that they cannot pay back? Why take a loan in the first place if you have no means or plans of paying back? Other countries don't default on loans like we do.
Now, what do you suggest we do to resolve our HUGE infrastructural deficit? Are you not ashamed that you cannot take a train from Nnewi to Lagos or from Lagos to Ibadan, in the 21st century for that matter. You would have thought my brothers from the south east would be most exited by a functional railway service as they are the highest number of travellers in Nigeria and they move around the highest number of goods, from ports to their manufacturing plants or their warehouses, or from agricultural farms to factories to markets and ports. But alas, they are more interested in "sovereignty" and China taking over the assets.

wirinet:

The reality that you should be asking is; why is that African countries take loans that they cannot pay back? Why take a loan in the first place if you have no means or plans of paying back? Other countries don't default on loans like we do.
Now, what do you suggest we do to resolve our HUGE infrastructural deficit? Are you not ashamed that you cannot take a train from Nnewi to Lagos or from Lagos to Ibadan, in the 21st century for that matter. You would have thought my brothers from the south east would be most exited by a functional railway service as they are the highest number of travellers in Nigeria and they move around the highest number of goods, from ports to their manufacturing plants or their warehouses, or from agricultural farms to factories to markets and ports. But alas, they are more interested in "sovereignty" and China taking over the assets.

I would tell you why they take this loans........

They are all hoping for future debt forgiveness....... China would never forgive..............


Why I cannot take a train from Nnewi - Ibadan........

Because we have corrupt leaders that have used all this funds, to build rails in their accounts + accounts of cronies........


All this monies they have stolen and still stealing, are borrowed funds............

We are now crying like abandoned babies,it is now time for everyone to put aside their differences and support the Ibos for the presidential cause as well as clamour for Confederation which Is the best option for all the regions.


The Hausa/Fulani had destroyed the country,illiterates ruling and looting the country.

The time Is now for all tribes to rally and work together,the country Is sinking if we keep playing politics and religion,which makes the politicians laugh at us and happy cos its a distraction they want to keep Nigerians busy.

I implore you and anyone that will read this to know the reality and the truth about our country.

Thank you













quote author=Skepticus post=92304253]It's still better if the country and its bunch of spineless citizens are sold to China.

What gain has the country made since it was handled by Nigerians?[/quote]

iyke4:
Bode George actually has a point; these Chinese claim to be very smart when doing business, they don’t love us but they are here for what they can gain; it’s better we take our time with them than to enter into something which we can’t recover from.

Our looters sorry leaders no go listen

Lexusgs430:



I go by precedents....... I rest my case.....

Which precedents? Please share.

BreconHills:


Which precedents? Please share.

I already posted one news caption........

This is possibly how Rotimi missed the information, placed in front of his nose, whilst signing on the dotted line..........

Na ignorance dey worry you. Think all Nigerians are mugu

RichDad1:
Foolish man from a foolish party.
Throughout his party’s 16 years misrule with huge crude oil earnings and foreign loans, what infrastructural developments can they boast of that can rival what Amechi has achieved in under 5 years with lesser revenues?

Modify:
I can see a lot of you perpetual wailers are pained with my comment. Una never see chumchin.
This administration will continue to build massive infrastructures and name it after your useless party leaders to shame them.
Bunch of never do goods that are hell bent on dragging the country backwards with theirm unusual “share the money” governance style.
Imagine how many trains the $2.1b Dansuki loot would have gotten us? Indi ara
By now y’all should know there’s a new sheriff in town. Get used to it!

MUMU