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China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" (21194 Views)

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China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Islie: 6:41pm On Aug 01
The Minister of Transportation, Mr. Rotimi Amaechi, has said that Nigeria is already repaying China 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, adding that Nigeria has capability to pay all the China loans.

“We are paying the loans.

“In the same National Assembly sitting, they were told that the $500million loan, we have paid $96m already.

“Nigeria 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,” he said.

He said the excitement about the immunity clause is misplaced as it was just a clause that protects China money.

“Anybody that is saying he doesn’t 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’t pay they go after your assets you put down.

“That is all about the clause, the Chinese can never come and take over Aso rock and become President or Minister,” he said.

The House of Representatives, in their probe of Chinese loans to Nigeria, found that the agreements ceded Nigeria’s sovereign right on the assets financed by the loans to China if there was payment default.

This findings have been generating reactions from Nigerians all through the week. But he said all the conditions that Nigeria signed on the loans was approved by the National Assembly, hence the probe was unnecessary.

Amaechi 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.

“The National Assembly are aware of all these loans. “We can’t take loan without the National Assembly.

“So, ask why they are investigating? “The Chinese is just asking us to show them the evidence that we will pay back which is the immunity clause.

“If we don’t pay, they can take back their assets,” he noted.

https://www.dailytrust.com.ng/no-need-to-panic-nigeria-is-already-paying-china-loans-amaechi.html

5 Likes 1 Share

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Realadey(m): 6:44pm On Aug 01
Hmmmm,Amaechi!

6 Likes

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Simplyleo: 6:44pm On Aug 01
Good to hear that.

However, I know those lunatics (they know themselves) will rather prefer Nigeria unable to comply so they can scream more on social media.

God bless Rotimi Ameachi
God bless BAT
God bless PYO
God bless PMB
God bless Nigeria and Patriotic Nigerians.

Meanwhile;

Nigeria 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,” he said.

69 Likes 8 Shares

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Obalatule: 6:50pm On Aug 01
The Lagos IGbO and yoruba are still dragging China wan put hand too angry

9 Likes 1 Share

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Obalatule: 6:51pm On Aug 01
Yoruba and Igbo unite against China grin

17 Likes 1 Share

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Goldp5988(f): 6:53pm On Aug 01
Piece of good news.

8 Likes

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by BlackfireX: 7:06pm On Aug 01
Damage control...

30 Likes 2 Shares

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by illicit(m): 7:07pm On Aug 01
Why borrow, ehn?

7 Likes 1 Share

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by kelfree99(m): 7:09pm On Aug 01
Thanks for clarrifying that cause some nigerians are already yelling buhari!!!,

28 Likes 1 Share

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by abduljabbar4(m): 7:38pm On Aug 01
Why is Amaechi even wasting his time on these people. They are okay with Africans being slaves to the IMF and collecting loans that mostly ends in the pockets of white companies and corrupt politicians, but they have problems with low-interest, long-term loans from China. It's only an irresponsible government that will fail to repay such loans (given the time and interest rate of the deal).

Modified
Some Cownu minions are not aware that China has canceled loans for African countries without giving stupid conditions like approval of gay marriage. Not only that, China has never endorsed a candidate in our country or tried to fforce us into going for destructive policies (SAP). They claim that they have never taken over a country, yet great African leaders like Ghaddafi are dead today for refusing to become puppets. Not only that, they have taken over Iraq and Ivory Coast while still fighting to seize Syria and Venezuela. They are always quick to mention Zambia (which failed to repay due to incompetence) , but they don't care about the plight of our neighbors in the hands of France who controls their economies and even funds terrorist groups to cause unrest in the region (of course, why should they care when France is an ally to USA their masters). They supported USA's evil agender against our own Akinwumi Adesina just because they hate everything that sounds like Yoruba and Nigeria but thank God, they have failed.


But then, even their leader called them pigs and idiots so no surprises here. If majority of African countries prefer to go for "evil" Chinese loans over Angel World Bank, then there must be a reason. Even their master (America) owes China over a trillion dollars



Modified for the 2nd timecheesycheesycheesy

China has never threatened us with sanctions for refusing to accept their deals unlike their masters. Ask Angola or Rwanda about what they faced for choosing to grow their local industries (textile I think)

67 Likes 10 Shares

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by AroleOduduwa2: 8:30pm On Aug 01
This forum is full unapologetic zombies, they claim people are comfortable with being slaves to the west through IMF loans, but fail to tell us how IMF and the world bank has canceled our loans in the past, how they have given us debt reliefs countless times without taken over our country like the Chinese took over Zambia’s National Assets.

80 Likes 5 Shares

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Abouwaza(m): 9:17pm On Aug 01
Lol by taxing the masses
Funny govt
How some people especially youths still support these fools baffle me

6 Likes

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Blue3k(m): 11:09pm On Aug 01
Lol its funny people are acting surprised by these terms. They act like this isnt Chinas modus operandi. The thing that should really scare people is these rails are subsidized by the government and dont produce enough revenue to be profitable. Notice these rails always start with less profitable passenger traffic vs freight services that come later. It's doubtful to me these rails make enough revenue to service there debts.


“If we increase the cost of the tickets, what about the poor man that wants to move from Abuja to Kaduna? What about the poor man who works in Abuja and lives in Kaduna to save the cost of accommodation,” he said.

“So, usually, all over the world, you subsidize railway, so that the poor can have an easy means for transportation so that you improve your economy. Don’t forget, the railway is built not for passenger transportation, it is built as a means to grow the economy of a country.

“The economy will pay for it. Take the numbers of businesses that you grow across that line, take the numbers of companies you’ve established, take the taxes they pay to you.”


Ameachi

Front page: Lalasticlala mynd44

4 Likes

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by leofab(f): 1:20am On Aug 02
‘Cataractic’ leaders
Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by vhykeeytor(m): 2:22am On Aug 02
GOD GO SHAME BUHARI.... If.....he doesn't order Amaechi to cancel that Satanic loan.

1 Like

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Guestlander: 3:58am On Aug 02
AroleOduduwa2:
This forum is full unapologetic zombies, they claim people are comfortable with being slaves to the west through IMF loans, but fail to tell us how IMF and the world bank has canceled our loans in the past, how they have given us debt reliefs countless times without taken over our country like the Chinese took over Zambia’s National Assets.

This is funny, this is one of the reasons Nigeria is poor. The world bank and the IMF got their money back many times over leaving us with less money to develop and build necessary infrastructure.

Not only that, do you know how much Nigeria parted with to settle the "debt forgiveness" you are talking about.
On top of that Nigeria lost more than 30 billion to the world Bank and the IMF with nothing to show for it. No trains, no electricity, few standard roads and barely functional airports.

The Chinese cannot take the railway back to china even if they eventually take it over. There are foreign companies already operating in Nigeria today that take their profit back to their home countries.
What do you have to say about this?

24 Likes 5 Shares

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by helinues: 5:52am On Aug 02
Nigeria is already paying as if his personal money dey involved..

2 Likes 1 Share

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by PureGoldh(m): 8:42am On Aug 02
We ain't in shock

I wonder where all the money EFCC recovered dey undecided

Na theives dey 9ja government parastatals

1 Like

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by bolaayenimo: 8:42am On Aug 02
Is it true the loan was used for school feeding programme?

1 Like

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by hakeem4(m): 8:42am On Aug 02
I actually find the probe by the National Assembly superfluous. No Presidential country in the world can take a loan without their National Assembly knowledge.
And most Organization would not want to give out loans if this due process is not followed. Maybe that’s why North Korea hardly gets loan, cause it is a dictatorial nation.

4 Likes

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Ayomi90: 8:42am On Aug 02
The pained Igbo's that don't have anything to offer wants 9ja to default, they generate the lowest IGR yet u see them making noise on every thread. North, SS nd SW is always d ones paying, especially SS states, Lagos nd Ogun.

Our flat head brother that doesn't contribute anything to d development of Nigeria are d ones wailing.

16 Likes 4 Shares

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Mo3891: 8:42am On Aug 02
cool


Current US debt profile China owns the largest

US developed rapidly through Debt or Bond Atleast 80% from China

Now Ameachi went to China ExIm bank to source for single digit interest rate no collateral 20 years development but the Senators are faulting because agreement of the loan is if after 20years we refuse to pay back the reposses the asset and we lose any Sovereign right over the asset



.

9 Likes 2 Shares

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by GeneralPula: 8:42am On Aug 02
He’s already swinging mouth..
Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by money121(m): 8:43am On Aug 02
Ok
Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Landexpert: 8:43am On Aug 02
Story for the gods.
More like Damage control.
Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by AngelicBeing: 8:43am On Aug 02
shocked

2 Likes 1 Share

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Kylekent59: 8:44am On Aug 02
It better be. More reason why I hate to have a dealings involving "loan"

You share your profit or intact; you are indirectly giving out your profit.

We are getting there....
Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by Abouwaza(m): 8:44am On Aug 02
Simplyleo:
Good to hear that.

However, I know those lunatics (they know themselves) will rather prefer Nigeria unable to comply so they can scream more on social media.

God bless Rotimi Ameachi
God bless BAT
God bless PYO
God bless PMB
God bless Nigeria and Patriotic Nigerians.
Bro u are gradually losing it
Try and be mature even if just for once

20 Likes

Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by MASTAkiLLAh(m): 8:44am On Aug 02
G
Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by DropsMic(m): 8:44am On Aug 02
Hmmm
Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by CelestineNelson: 8:44am On Aug 02
E
Re: China Loan: Amaechi Says "No Need To Panic, Nigeria Is Already Paying Back" by pointstores(m): 8:45am On Aug 02
Nawa

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