Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,754,542 members, 6,543,247 topics. Date: Monday, 18 October 2021 at 06:42 AM

Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway (10104 Views)

Amaechi: FG Will Stop Train Services If COVID-19 Protocols Are Not Observed / $500m Chinese Debt Sparks Confusion In Airport Concession / Amaechi: FG Needs $656 MillionTo Complete Lagos-Ibadan Railway (2) (3) (4)

(1) (2) (Reply) (Go Down)

Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Updating9JA: 2:48pm On Jun 15
Rotimi Amaechi, minister of transportation, says Nigeria has commenced repayment of loans obtained from China.

The federal government had sought loan facilities from Chinese lenders to implement several infrastructural projects, including standard gauge rail lines.

According to the Debt Management Office (DMO), the total borrowing by Nigeria from China stood at $3.12 billion as at March 31, 2020.


In an interview with Arise TV on Monday, Amaechi said Nigeria has never defaulted on loans from foreign countries and international lenders.

The minister said the administration of President Goodluck Jonathan obtained $500 million from China but added that about $150 million had been repaid.

“What I am aware of is the fact that when you take the loan, you are expected to pay back, and as I am talking today, we are paying back,” he said.

“Under the regime of President Goodluck Jonathan, the loan for Abuja-Kaduna (rail line) was taken at about $500 million. As we are talking today, we have paid about $150 million on that loan, and Nigeria has never defaulted when it comes to loan repayment. I don’t also expect that we would default in any other loans that we have taken.

“The loan for Ibadan-Kano (rail line) is about $1.5 billion, the remaining $500 million came from our budget. I expect that whatever loan we take, we will be able to repay.

Amaechi added that there is no clause in the loan agreement that cedes assets of the federal government to China in the case of repayment default.

“I am not aware of whatever clause in the loan agreement that hands over any of our national assets to China.

“When you default, they may go to court and it depends on the outcome of the court case but I am not aware that there is any clause signed by this government or the previous government of President Goodluck Jonathan that mortgaged any of our national assets.”

https://www.thecable.ng/amaechi-fg-has-paid-150m-out-of-500m-chinese-loan-on-abuja-kaduna-railway

4 Likes 2 Shares

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by PrinceOfLagos: 2:49pm On Jun 15
Story for the gods

Buhari government borrowed $2.02 billion dollars from China

When will they start paying back ?

23 Likes 4 Shares

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by heniford2: 2:49pm On Jun 15
grin grin lies from pity of hell

11 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Sunnybay7: 2:50pm On Jun 15
Audio show proof of payment

21 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Fahdiga1: 2:52pm On Jun 15
You can deceive yourself all you want but at the end you must vomit all the looted money

7 Likes 1 Share

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Amotolongbo(f): 3:01pm On Jun 15
China no dey give receipt?

10 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by revived: 3:12pm On Jun 15
Sulamalia
Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by bcomputer101: 3:12pm On Jun 15
Just $150m.
Show us receipt.




That Mannique should stop defrauding us I beg.

8 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by juniorstar(m): 3:13pm On Jun 15
Only time will tell.
Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by raindroup(m): 3:13pm On Jun 15
Way to go kiss

1 Like

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by AfonjaConehead: 3:13pm On Jun 15
Bastards. Bastards squandering Niger Delta money...

Amaechi is an abomination of a Niger Deltan

4 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by updatedws: 3:14pm On Jun 15
was the loan paid from revenue generated from the rail or the usual revenue generated from the South?

I'm asking for a friend

11 Likes 1 Share

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by lifeandjoy: 3:14pm On Jun 15
Audio
Shout out to every Nigerian doing there best to survive, our efforts won't be in vain.
Proud Igbo man

10 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by alizma: 3:15pm On Jun 15
This is how you know that some people are seriously praying that nothing good should come out of this country. When they complain about government shortcomings, they make it look like they are interest in the country but wait until you tell them something good about the country then you will see the real beast in them.
If you actually have this country at heart as many of you claim, I see no reason why you should attack the government on this good news.

18 Likes 3 Shares

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Tonymegabush1(m): 3:15pm On Jun 15
So it's remaining $350million when will chinese collect their bal.
Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by aremuforlife(m): 3:16pm On Jun 15
Nigeria can never move forward with the set of citizens a over me. If the news was, Nigeria is yet to pay a little percentage out of the loan she is owning china, you all would have believed the news without asking for receipt.

10 Likes 1 Share

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Theunbothered: 3:16pm On Jun 15
I hope this isn't all talk because I'm afraid of China's influence over the country.
Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Dissap: 3:16pm On Jun 15
Yo Hommies, you know that gender that I was talking about, they are dumb ass bitches...
Fucking irritating creatures with no sense at all!
Either stay out of their way or you fùck em real hard like a Cholo!
This is what the white guys are doing to them, because they know that they ain't worth the effort!
Damn it!
Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Saao(m): 3:17pm On Jun 15
Lol, show us the receipt of your payment.
Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by harmargedon: 3:17pm On Jun 15
Your idea of taking loan is to enslave poor Nigerians to these Chinese motherfukers all in the name of paying loan with infrastructure. Where we have to pay huge amount just to have access to them, and you guys feel cool right?

1 Like

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by FoolishBoy419: 3:18pm On Jun 15
Critics of the loan at not being so because they care about the country. They are only trying to please their masters from the west

2 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by GboyegaD(m): 3:20pm On Jun 15
Good however, the amount it cost is to build infrastructure in Nigeria is very alarming and highly unrealistic.
Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Victorclean1(f): 3:21pm On Jun 15
Can you believe this news?. Provided alhaji Lai Mohammed is part of this with lauretta Onichie , etc , don't know how to believe.

Just as they defeated bokoharam

1 Like

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by hmohammed(m): 3:22pm On Jun 15
Updating9JA:


https://www.thecable.ng/amaechi-fg-has-paid-150m-out-of-500m-chinese-loan-on-abuja-kaduna-railway

Good one from Buharis government. If only Nigerians can give Buhari a 3rd term. He is just brilliant.

2 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Blaizpascal(m): 3:24pm On Jun 15
lifeandjoy:
Audio
Shout out to every Nigerian doing there best to survive, our efforts won't be in vain.
Proud Igbo man
Amen

2 Likes

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by harmargedon: 3:24pm On Jun 15
aremuforlife:
Nigeria can never move forward with the set of citizens a over me. If the news was, Nigeria is yet to pay a little percentage out of the loan she is owning china, you all would have believed the news without asking for receipt.
I wanted to say something, but after looking at your Monika. Akpamu indeed.

1 Like

Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by Chijeep(m): 3:24pm On Jun 15
K
Re: Amaechi: FG Has Paid $150m Out Of $500m Chinese Loan On Abuja-Kaduna Railway by harmargedon: 3:25pm On Jun 15
FoolishBoy419:
Critics of the loan at not being so because they care about the country. They are only trying to please their masters from the west
your Monika says it all.

1 Like

(1) (2) (Reply)

Buhari To Travel To Niger Republic With Three Governors / International Women's Day 2019 - Women In The Buhari Administration / Igbos Has Started Editing The Wikipedia Pages Of Southern Minorities

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 65
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.