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Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi - Politics - Nairaland

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Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Racoon(m): 5:50am On Mar 31
-Minister of Transportation, Mr. Rotimi Amaechi, says the decision by the House of Representatives to go public on the Sovereignty Immunity Clause in the...

Minister of Transportation, Mr. Rotimi Amaechi, says the decision by the House of Representatives to go public on the Sovereignty Immunity Clause in the Chinese loan has delayed the approval for the $5.3bn Ibadan-Kano standard gauge project.

Daily Trust reports that the House of Representatives and Amaechi were at daggers drawn last year over the sovereignty clause in the loan agreement with the China Exim Bank which funded the Abuja-Kaduna and Lagos-Ibadan standard gauge trains.

The lawmakers had queried the inclusion of the clause which gives China access to some national assets in case the Federal Government is unable to fulfill its repayment obligations but the Minister had warned that such discussion could make China have a rethink on the loan.

Speaking in an interview on Channels TV, Amaechi said the “selfishness” of some members of the House of Representatives delayed the approval of the loan by China as they began to ask more questions.

He said, “That is where we are. The loan for Ibadan-Kano, up till now we have not gotten approval and as at the time that issue happened, we were at the verge of getting approval but they withdrew. So they were asking more questions.

“The other countries we have loan agreements with, they don’t usually ask for sovereignty clause because they trust you. They expect that you pay back. But the moment you brought it to the public, they are saying, ‘Oh you gave China an immunity clause, so you must also give us.’

‘I don’t know what those lawmakers want’

“The selfishness of those members, I don’t know what they are pursuing has put the country into jeopardy. Now the other countries are asking for the immunity clause in their own agreement. The other aspect that I said was that the Chinese may likely withdraw, that is where we are. We are talking to them. Be rest assured that we would pay back. The fact that these members were investigating should not stop you from… they are doing their legitimate duty, it doesn’t stop you from lending us the money.

“They are asking questions that we need to explain. We have explained. They promised to give us the loan but at least it held us back from June till now. Imagine if they had given us that money in June, we would have gone far. We have started clearing by now but imagine seven months wasted because a few members of the House of Representatives went to the public because whatever you do here is reported all over the world. That is where we are.”

The Minister explained that what the immunity clause does is to give access to the Chinese to go to Court or Arbitration if the nation breaches the loan agreement.

According to him, the clause also gives exemption to some national assets if the court awards compensation to China in case Nigeria is taken to the court of arbitration.

“I have explained over and over. What the immunity clause does is to say to you in case you are not able to pay back, I want to be given the opportunity to be taken to court or to arbitration as it is in the clause. So when I go to arbitration, don’t come and wave immunity that I am a sovereign nation, you can’t take me to court.

“So what the immunity clause does is that it gives you access to court. But in case you are not able to pay back whether there is an immunity clause or not, there are things that the court would tell you.

“These are things to go for. What the immunity clause even does for us as Nigeria is that you can go for everything in case the court awards you but you can’t go for our diplomatic assets outside the country because that is the easiest for them. They will just go to one country and seize our assets.”

FG has so far borrowed $2.5 billion from China

The Minister disclosed that the Federal Government has so far borrowed about $2.5billion from China for covering the $500m Abuja-Kaduna line and the Lagos-Ibadan line which is almost completed.

“If you look at the whole total cost, it will be $2.5 to $2.6 billion that we have borrowed from China Exim bank for the Abuja-Kaduna and Lagos-Ibadan.

“They also lent us about $1.4 billion for the Lagos-Ibadan while the Federal Government had to cough out about $200 million to make it $1.6 billion. We are bringing out about $700 million because we have to end at the seaport in Apapa which was not part of the original design. So we had to take about 45kilometres rail from Ebute-Metta into Apapa seaport,” he explained.
https://dailytrust.com/chinese-loan-selfish-lawmakers-have-put-nigeria-in-jeopardy-amaechi

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Racoon(m): 5:54am On Mar 31
Guess it is the economically unviable railway project this man said he was begging Niger Republic to do for them @ Nigeria's expense that have now put Nigeria in jeopardy?

Not even the chronic senseless and economically unviable borrowings and debt pillage the Buhari govt have embarked upon? Both Amaechi, the NASS and the FG are mad.His scammed and failed $50M PH monorail project comes into mind.

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Anigreat: 5:58am On Mar 31
shocked




Exactly how you put River state in Jeopardy when you were a governor and exactly how you're puting Nigeria in jeopardy as a minister.


A pot calling a kettle black.

All our leaders are useless, all of them.


When the greatest borrower of all time return from his medical trip from London, he will go back to China to borrow again, so you lots will squander it on frivolous things.

129 Likes 6 Shares

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by DaddyRochie1642(f): 6:05am On Mar 31
Amaechi is a Mega Thief grin

97 Likes 8 Shares

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by MarveworldG: 6:08am On Mar 31
This is serious. Too much borrowing will make you not to look at where you are borrowing from

15 Likes 1 Share

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by slawormiir: 6:08am On Mar 31
Damnnn niggarrrr
This administration is full of shit
Bitch ass niggarrs and Bitch ass bitches in this present administration

Alot of no good sons and daughters of bitches in this present administration

Continue to borrow like a moda fuckkker

10 Likes 2 Shares

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Elvis2kay: 6:09am On Mar 31
angry
Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Sundaycomputer: 6:09am On Mar 31
Give me the Chinese account number let me pay the money back,
For ur laptop repair email me okonkwoss2ss@gmail.com

5 Likes 1 Share

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Authoreety: 6:09am On Mar 31
Amaechi is among the selfish leaders

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by tillaman(m): 6:09am On Mar 31
angry
Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by michlins(m): 6:10am On Mar 31
It's sad that this government has zero shame. How can you come to national TV to say something like this


In other news,channels TV seem to be the official news agency of this government. To think they borrowed $500ml for NTA and yet ordinary interview, they run to channels

16 Likes

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by GIANTPLUSHUB: 6:12am On Mar 31
What the ministers did was right naaaw. It's to caution us from borrowing, borrowing, borrowing alot yet we just have little things to show for it.

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Offpoint1: 6:12am On Mar 31
Typing....











Stop typing

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Ghostmode2two(m): 6:12am On Mar 31
Racoon:
Guess it is the economically unviable railway project this man said he was begging Niger Republic to do for them @ Nigeria's expense that have now put Nigeria in jeopardy? Both Amaechi, the NASS and the FG are mad.
The FG, Amaechi and the NASS are the ones that put Nigeria and Nigerians in double jeopardy as they are all compound clueless fellows

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by cardoctor(m): 6:12am On Mar 31
The borrower will always be a slave to the lender.

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by olayemioshiyemi: 6:13am On Mar 31
Sigh !
Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Fiscus105: 6:13am On Mar 31
Must you borrow? Borrow money to construct Gauge in niger republic, is it not madness?

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by walozanga(m): 6:13am On Mar 31
See who is talking

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Odobaone: 6:14am On Mar 31
Convert this figure to Naira. You will understand why WIZKID prefer Ghana to Naija

5 Likes 1 Share

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by blackpanda: 6:14am On Mar 31
Racoon:
Guess it is the economically unviable railway project this man said he was begging Niger Republic to do for them @ Nigeria's expense that have now put Nigeria in jeopardy? Both Amaechi, the NASS and the FG are mad.

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by ArmaniUhuru: 6:14am On Mar 31
This man again?

His mouth and his brain are observing social distancing lately.

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by blackpanda: 6:15am On Mar 31
Ghostmode2two:
The FG, Amaechi and the NASS are the ones that put Nigeria and Nigerians in double jeopardy as they are all ciumpound clueless fellows

How
Smh
Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Guide777(m): 6:15am On Mar 31
Can you imagine the unrational outburst of a minister of federal republic of Nigeria.

2 Likes

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by psychalade: 6:16am On Mar 31
Instead of restructuring the country to make it more productive, they are looking for short cuts through borrowing that will enslave future generations. Slave mentality

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by 2shaw: 6:16am On Mar 31
Amaechi should be bombed

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Skyfornia(m): 6:17am On Mar 31
Cut down the cost of governance...they won't do it but they keep on borrowing to fund their excessive lifestyles.

The youths are the victims and problems...many of us will keep supporting them and suffering.

8 Likes

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by HacheNoire: 6:17am On Mar 31
Anigreat:
shocked




Exactly how you put River state in Jeopardy when you were a governor and exactly how you puting Nigeria in jeopardy as a minister.


A put calling a kettle black.

All our leaders are useless, all of them.

What jeopardy did Ameachi put Rivers? Seems you have forgotten so soon. His giant strides in education will he forever be remembered for.

He had big dreams for port harcourt. Started the metroline wike has failed to complete.

And how about security, Is port harcourt of today safer than during Ameachi's reign?

Please dont let hate make you blind. He had his flaws right being human. But he was far more better, learned and a leader.

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by PenuelFarms: 6:17am On Mar 31
So Ebute Metta to Apapa Port is 45 km, according to Rotimi Amaechi.

Are these locations the same ones we know in Lagos or those in Ikwerre land?

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Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by nativefowl: 6:18am On Mar 31
cool coolCHINA IS BUYING AFRICA SMALL SMALL, GUY THESE AFRICAN LEADERS EH. HMM WE DIE HERE WITH DEM AND THEIR CHINKO MASTERS.CHINA IS BUYING AFRICA SMALL SMALL, GUY THESE AFRICAN LEADERS EH. HMM WE DIE HERE WITH DEM AND THEIR CHINKO MASTERS.CHINA IS BUYING AFRICA SMALL SMALL, GUY THESE AFRICAN LEADERS EH. HMM WE DIE HERE WITH DEM AND THEIR CHINKO MASTERS.

5 Likes 1 Share

Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by Cj4charles(m): 6:21am On Mar 31
The only thing I'm seeing here is just Lagos, Ibadan
Re: Chinese Loan: Selfish Lawmakers Have Put Nigeria In Jeopardy – Amaechi by sammyj: 6:22am On Mar 31
Ameachi fear God oooo!!! Don't put Nigeria third slavery because of your selfish interest!!! shocked shocked

5 Likes 3 Shares

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